How much do you need to earn to live in London?

[MajorProblem]

Just going on the price of train tickets thread...

How much do you actually have to earn to have a reasonable life in London.

So salary is ???

Let's say commute is 1hr max door to door

I need a property minumum 750sq ft with parking let's say can do 20% deposit

I need a car, something middle of the road let's say £400 a month on lease

Eating out / entertainment let's say £1k a month

I don't want to live where I'll get stabbed or shot on a daily basis.

£500 a month for unexpected stuff


£120k a year?

[surveyor]

To live in London you don't need a car so that's nearly £5k saved plus not needing parking.

ETA

Your eating out/entertainment budget is also going it some....

[anonymous-user]

£1000 a month on ents could easily be trimmed back too.
Or is it all Coke and hookers?
Careful planning/budgeting and you could like like a king on £120k but £400 a month for a "middle of the road" car is just pissing it away.

Edited by anonymous-user on Tuesday 19th August 10:39

[MajorProblem]

£250 a week ain't gonna go far getting meals out / going places etc.

[Pebbles167]

Several people I know live on around £25k.

They rent a nice house/flat and have reasonable motors. Which leads me onto your assumption that £400 per month for a lease is 'middle of the road' are you mad?

[Fotic]

There are lots of non White British in London, have you factored in healthcare for your blood pressure?

[NNH]

Looking around my office at people who live in zones 1-4 (and can still afford to go out from time to time), I'd guess you need to earn £65k+ if you're the only breadwinner, or £30k+ each for a couple.

As for a £1k/month entertainment budget. I reckon that would only get coke OR hookers...

[MajorProblem]

Exactly it's FA. A meal and drinks is gonna be minimum £100 for two unless you go to maccy d's.

[surveyor]

MajorProblem said:

Exactly it's FA. A meal and drinks is gonna be minimum £100 for two unless you go to maccy d's.

Disagree - you can blow £100 on a meal and the rest. But there are other places where the prices are more comparable to the rest of the uk.

Or is your question How much do you need to earn to live in a London to a lifestyle that you'd like to have?

[MajorProblem]

In the OP it says a reasonable life so I would not class that as renting a room, walking everywhere and raiding through bins for my lunch.

[anonymous-user]

MajorProblem said:

In the OP it says a reasonable life so I would not class that as..walking everywhere

Driving everywhere in London won't be a reasonable life either.
You can live in London quite satisfactorily on way less than £120k.
Reading your posts I suspect the demand for higher income wouldn't go away by not being in London.

[MajorProblem]

Surely if you were interested in cars then you'd want a car, perhaps not to drive in town but maybe trips out, trackdays etc. £400 might be a bit rich though, probably nearly half that and still have fun.

[kambites]

I know people earning <£50k who live quite happily in London.

[Monkeylegend]

H22 was managing on £35k ish, or maybe a bit less.

Shame he is not here to contribute to this thread, it would be fun.

[JohnSW20]

As someone who now lives in London and has done for the the last 16 years and being from Liverpool. I started on a low to average salary and have built it up. I have just come back from Liverpool and my old local in Maghull is more expensive than my one in SW London. If you want to go to all of the top places then you need top dollar. It's the same all over the UK. Take going into Leicester Square you can have a drink in the Weatherspoons or go to the "W" hotel. Normal prices in weatherspoons or the best part of £45 for two Gin and tonics in "W". The only thing I find more expensive is the cost of accommodation be it renting or buying. I would say you need about £40k to have an average life style.

[TheAngryDog]

I was living in a flat share in north London with a 90 minute commute in to the office (much less if I could've used the tube). I was on just over £30k.

I didn't find it difficult, I managed quite ok tbh. If I'd of not had my car I reckon I could've rented a full flat and managed.

[AyBee]

How do you get from £1,900 per month plus mortgage to £120k p.a.?!

[MajorProblem]

So probably double the national average wage really. Suppose easily doable especially with two incomes.

[stuart-b]

Lots of places to eat decent food where you don't need to spend £100 between the two of you. It's not Geneva... If you want to save any capital then you'll need more than £35k, but you can have a decent life on that (just not really progress up the property market easily)

[trickywoo]

Crossflow Kid said:

Careful planning/budgeting and you could like like a king on £120k

£6k a month net won't see you living like a king if you have a £500,000 mortgage to worry about.