Cost of Living for Family of 3 in UK (NHS Doctor Salary) | Realistic Monthly Expenses in 2024

[@asmaaelakiaby5251]

Just can't figure out how I can spend less on grocery shopping😮 we r a family of 4 and we spend around 800 per month on grocery 😢and around 100£ a month on toys😅 and summer holiday cost around 8000£ in Morocco 😮we r not saving 😢not Investing our mortgage is about the same as yours including the one off pay 10% every year interest free but Council tax is 300 and sim only 50£ a month its very different than your expenses I feel like I m in another country 😮 I m in Oxfordshire

[@SumanPaulDoc]

I live in North west england so things are slightly chepear here. I can certainly help with your mobile bill- A new 30 day plan for £7 providing 10GB data offer - £2.49 for the first 4 months! www.lebara.co.uk/en/msm/p/441187

[@fezaannazar4081]

Your lifestyle is clearly completely different to this person. We. Spend nearly £1k a month on groceries too.

[@jeffreyashiq1633]

Thank you for the insight sir. I think the quality of life and saving is much better in india now. Lot of improving in the past 10 years. What's your take on it?

[@SumanPaulDoc]

I agree about the quality of life is better in India but the cost of living has gone up massively in the last 10 years.The income has not kept pace with the rising expenses.

[@dsdsdsds88888]

Here in Ireland and UK we have substantial high Standard of Living but at the same time, the Quality of Life is poor !! India is relatively low on standard of life but the Quality of life is relatively much much better

[@jeffreyashiq1633]

With 2L monthly salary people can save up to 60 thousand each month. Much better way than saving from UK I think.

[@dsdsdsds88888]

@@jeffreyashiq1633 you are absolutely right !! You get maid in India and you are close to relatives which helps you in your mental wellbeing. Here we don’t even get sun and people have to budget even for groceries something I never cared about in India as everything’s so cheap and variety of vegetables and fruits are far superior! Here we don’t even get proper sun ☀️ plus things like new bedding / bedsheets / curtains etc and your grooming products right from toiletries etc causes additional strain in your budget. You will learn to give away basic things to not spend and you will have a far more miser lifestyle in comparison. If you can do that which most of the immigrants do, you can save and save as much you could tighten your hands. However if you can’t , Overall you will feel whether it’s worth it in the end.

[@DibyenduPratap]

Hi Suman...Thanks for this insightful video, really helpful! Which is the regular saver account that pays 7%? Can you please share bit more details?

[@SumanPaulDoc]

It was the first direct regular saver account

[@DibyenduPratap]

Thought so and owned by HSBC and the only brand with 7% rate as far as I know..thanks for confirming..

[@shahraxit]

Why do you not have any allocation to SIPP in your investment plan? with your salary, that would be the most tax efficient way.

[@SumanPaulDoc]

I contribute to the NHS pension scheme

[@shahraxit]

@SumanPaulDoc yes i understand that but the benefits can be further extended by contributing to SIPP where every £60 will by bumped up by £40. Part of yr ISA contribution can go to SIPP. unless you hv a plan to utlise ISA funds earlier. Max contributions to pensions upto salary but £60k in your case and i am assuming even after determing the value of yr NHS contributions, you will still have unused allowance which can be used for SIPP

[@BennyShukla]

You said you regular saving a/c pays 7% interest, which bank is this?

[@SumanPaulDoc]

First direct

[@kirannair7920]

I was wondering why you didn't mention about saving money for Travelling..?

[@paediatriciandoctorzahidhu8360]

Have u deducted nhs pension ?

[@SumanPaulDoc]

Yes

[@dipankarchowdhury6368]

Thank you

[@ssshammi]

Hi which year did you buy mortgage at 2.10 percent? I bought for 5% mortgage

[@SumanPaulDoc]

2019

[@ssshammi]

@@SumanPaulDoc ok so in 2025 I'll be paying close to 7.25%

[@SumanPaulDoc]

Rates will go down in 2025

[@RajSingh-lc6bo]

Single adult is Earning 80K GBP (Gross Salary) apporx take home would be 4700 GBP (Monthly), will it be enough for 2 adult and one infant?

[@SumanPaulDoc]

That should be fine.

[@RajSingh-lc6bo]

@@SumanPaulDoc Thanks, how much is 2BHK cost for Rent in London & Outskirt of London Pls, Do you suggest any good place for rent pls?

[@RajSingh-lc6bo]

Would you be able to suggest, pls

[@SumanPaulDoc]

@@RajSingh-lc6bo check out in Rightmove

[@harisht45]

2200£ to 1900£

[@HaiderAliUAE]

What salary should be for the head of department and how much salary is good to live with family of 5 2 adults 3 kids . Plz reply

[@SumanPaulDoc]

Head of the department or Clinical Director does not get an additional salary.These activities are adjusted in their job plan.For 5, you will need take home pay of 5-6K per month provided some of the children are in school.

[@ashlyalexander4108]

Do you pay for term insurance+ critical illness cover?

[@SumanPaulDoc]

I only pay for term insurance.

[@ashlyalexander4108]

@@SumanPaulDoc family one? Or separate for you and your partner? And ideally what would be in ideal cover amount?

[@SumanPaulDoc]

@@ashlyalexander4108 We have separate for me and my wife. The amount must at least cover the house mortage price- It was recommended by mortgage advisor.

[@ashlyalexander4108]

@@SumanPaulDoc thank you for sharing this

[@JahnaviPillela]

Sir can i write mrcp by doing md microbiology

[@SumanPaulDoc]

yes, allowed

[@medicallyyours2668]

Dr. Suman I recently passed my MRCS Part-A and would like to start my CT1 at UK. I have cleared this exam just after completion of my MBBS kindly guide me through the process

[@SumanPaulDoc]

medsolutionuk.com/services Please book a session to discuss further

[@rahuldeovatsa]

Sir please make a video about how to manage expense and save in UK, when only a single adult in family of 4 is earning. Is it worth to move in UK for salary of 45K GBP?

[@SumanPaulDoc]

I think it will be really difficult to manage 4 persons in this salary.

[@Knoksvau]

45k maybe 1 or 2 people could live on that,any more and that's called poverty

[@gursimransingh7248]

wow .. well explained . Where do you currently work ? which post ?

[@SumanPaulDoc]

Currently in a career break after CCT. Will start work as a consultant tomorrow

[@DrRipple1729]

Hello sir...sir I'm currently pursuing MD respiratory medicine in INDIA...but want to know what all possibilities in fellowships or courses i can have outside INDIA that can be completed in 1-2 years so that i can come back to India and practice here based on resp med MD and the course that I will be doing outside the country..please tell me all the ways I can have (US UK Australia etc) after this MD degree here ..please brief in 3 to 4 lines sir..with pros and cons if possible 🙏and what should I be completing here within this 3yrs so that I can go out there smoothly..like what to do for what respective course or for respective country..please enlighten me sir..

[@SumanPaulDoc]

My experience of European fellowship: kzbin.infoOcC6zmxwkBk?feature=share Please book a 1:1 session to discuss further: medsolutionuk.com/services

[@sukhjeevansingh8909]

Nice video Suman. Can I ask what your second job is please?

[@SumanPaulDoc]

I run MRCP courses for studymedic

[@SamJenkinsStephenson]

Hi Suman, Is it possible to use Tax Free child care benefits for people in tier 2 visa with annual income above 1 lakh gross income of family?

[@SumanPaulDoc]

ILR is mandatory

[@captain-black-1]

hi sir, you look like mukesh ambani

[@srimantapattnaik8111]

Hi Suman, Very nicely managed . You should be personal financial adviser. Everyone should follow this principle to spend wisely and save maximum until they have enough.. amount to live . In reality you are saving £33,600. Per year. and upto £4500 cash in hand to spend somewhere . Where exactly you invest… interested to know your investment style.

[@SumanPaulDoc]

Thanks for the kind words.I do share my ISA investment on this channel. Here is the latest video: kzbin.info/www/bejne/moPNhmRvebprgdE