How much money you need to live in London | Minimum Salary & Cost Of Living Adults, Couples & Family

One of the questions we get asked the most is: How much money do I need to live in London?
In today’s video we answer just this. We’ll go through the cost of living in the city of a young adult (Student to Young Professional), for a couple and for a family. We will break down the costs of renting in London, explain the price of bills, groceries and estimate how much you’ll need for other things like transport or leisure.
Contents of this video:
00:00 - Intro
01:39 - What people in London say
02:45 - Cost for a Young Adult
05:07 - Tip for Young Adults
05:33 - Cost for a Couple
08:07 - Tip for Couple
09:08 - Cost for a Family
12:00 - Tip for Families
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[@aizazizzat6060]

You know, as a couple without kids who don't live in London and both have good jobs. This gives me a bit of hope for our situation. Thanks for this.

[@wintersnowowen2254]

You need about £3,000+ if you are living alone (net). Apartments will be around £1600 to rent. London is very expensive!

[@rubbadee1]

Great and helpful video, please keep it up 🎉

[@AdeolaSpeaks]

Great video! Very realistic amounts

[@spearchew]

The numbers seem reasonable to me. Of course, if the child/children are young then you can add another 2k/month in nursery fees... But then you would expect two parents to be working and both contributing money. Can't imagine how single parents manage

[@346151295]

We are going to move to London next year, hopefully the cost of living won't increase too much.. It's pretty hard to find a place in Zone 1-3 with 1b for less than 2k 😮‍💨

[@NALBATRAVELS]

Yeah the housing market is not great these days 😔 If you need help finding a place, reach out to us at Matutto - maybe we can help you

[@searklarak]

You could be on £100k a year working full-time for a law firm but still be broke because you don't know what budgeting, forecasting and investing means as you live paycheck-to-paycheck and happily enjoy splashing your payslip on holidays, fine dining, gifts, alcohol and other non-essentials. I'm not implying you can't enjoy life and spend the money you've earned as you're an adult and have every right to, but there's a reason why so many people in this generation won't even think twice about upgrading to the newest iPhone, MacBook and ordering takeaway every night but still complain endlessly about cost of living, high rents and low salaries (yes, these are major issues that affect everyone too, but have they considered their own financial literacy?)

[@gloriakobie9246]

Hey can you do a calculation if someone wants to live a bit bougie life with black cabs and restaurants and shopping and coffee every day 😅just the expensive extra stuff

[@NALBATRAVELS]

Hey Gloria, of course you can! Just calculate you "baseline" lifestyle, and then double it 😂 Joking of course. It depends how bougie you want your life to be, because it can cost you 2k or 20k to live in London - it's really up to you

[@pushparao181]

Accurate amounts as of September 2023

[@margaritamashkina4838]

These numbers are not accurate, in my opinion, 150 for groceries is not realistic for me, unless you go to Lidl maybe, I spend at least double of that. Some other expenses are not included, like entertainment which is not always free, travel, etc..

[@salemait1985]

Si superano

[@sergimontoya8074]

To be honest I eat ramen and mozzarella at work for £2

[@thatnepaligirl]

😂