Cost of Living in London 2024 Edition | Minimum Salary to Live in London | What it actually costs!

[@ba8898]

£1300 a month on rent is optimistic. I'd say factor in a minimum of £1900 for a furnished 1-bed flat (not including council tax and bills). The value for money you receive in London is shockingly low. Unless you absolutely have to be here for work or family reasons, I see no benefit at all to living here.

[@MonicaXGuan]

Ya I was more thinking studio to make it a bit more reasonable for a single person 😅

[@searklarak]

As a late 20s, Big Four Accountant in Central London, you can't have it all and will need to adjust and make some sacrifices (unless you're on a 6 figure+ salary): My tips are 1.) House/flat share with 3-4 others to split the bills/move in as a couple in a 1 bed flat 2.) Cook your own meals, WFH if allowed to reduce travel/lunchtime/coffee expenses 3.) Save and don't overindulge regularly on any non-essentials such as designer clothing, latest tech and fine dining 4.) Plan and budget your vacation 6+ months in advance if possible to save on travel and accomodation costs

[@CoCo-fh8rs]

Wow, what useful tips. I’d never thought of any of that. Thank god a big four drone came to tell us 🙄

[@shesaint_]

Zone 3, 4 (and sometimes 5) have great transport links and can get you to central in less than 20 mins via overground or some rail lines - so if ur a home body who goes out once in a while - save some coin and explore the inner city suburbs!!! It won't be as trendy or young as zone 2 perhaps but there's a lot of culture and "real" people in those areas - especially if your late 20s/early 30's. It's a good place to be if you wanna settle long-term :)

[@sachinpersaud7037]

Thank you for sharing this, it's good to know. In Toronto, it usually takes at least an hour to commute from inner suburbs to core, and so it's not as viable an option if you're looking to have an abundant social life and go out.

[@ericaroundtheworld]

Struggle if I should move to London. Everything has gone very expensive

[@ericaroundtheworld]

My friend wants to rent a place with facilities, gym etc. 2100£ / month. One- 2 bedroom. It's it realistic? We are no professional .

[@ggppccvv]

One more item to consider for entertainment - Theatre! West End and independent shows, musicals, plays, operas, dance and immersive shows are some of the best things London has to offer. I agree w/ you on things like mini golf and adult arcades being super overpriced and just not good enough 😂 but theatre is! I'd say avg. "cheap" ticket for a big show is £40-60 while more premium views can be £100+ but there are tons of smaller theatres with amazing shows for £15-25 tickets. I have never been to a bad show in Southwark Playhouse or Park Theatre in Finsbury Park, but even big hit shows offer some good deals - a few months back I found a last-minute ticket for Wicked for £27. Even if you aren't a theatre person, I promise there will be something for you!

[@Sgab1007]

Westend theatre is one of my favorite parts of London!

[@ladyslick121]

PLEEASE give us a "what i eat in a day" for that beautiful £25 per week figure. We'd LOVE that! thanks for this video in the meantime xx

[@MonicaXGuan]

Haha ok I’ll try! I just don’t work from home much anymore so my budget is actually even lower now 😅

[@OGFury]

Very good video! I think your estimates seem accurate based on my experience in London. I note that the £43k salary estimate seems to omit EE pension contributions, which most people should be contributing to (at least I hope so!) Assuming 5% contributions, gross salary required would be c.£46k (or £48.5k for those with UK plan 2 student loans).

[@nonotthaone]

to live comfortably you need to be earning 3400 GBP per month which is like 6541 AUD after tax or 110,000 AUD annually... which is categorized as the top 20% income in Australia... how can low to medium-income earners survive in London... that is insane.

[@DanielPerez-op8oz]

Most do not live in these zones 1 and 2, rent throughout the city is expensive, but in more remote areas it is possible to find cheaper rents.

[@MagnifiedLiverpool]

Most don't. They travel in gor hours of travelling. Look up 'exodus of london' before you live here.

[@ericaroundtheworld]

Wondering if it is practice renting a place for 2100 1-2 bedroom in London. Share with a friend. None of us has professional job

[@alexandraost9331]

I mostly eat fish, fruits, and vegies. I feel like the prices have increased dramatically compared to a few years ago. I think for me its about 100 pounds a week on groceries.

[@Squirrel10101]

Thank you for saying the part about being realistic about where you want to rent at the end. I feel like a lot of people ruin it at this step. In my opinion, as a young person who either wants to travel a lot OR save a lot (ideally both) this is possible so long as you cheap out on your accommodation. Whether that is staying with parents if that’s an option or staying in a house share - these are your best moves. Worst comes to worse you rent the cheapest 1 bed/studio you can find but you definitely can’t have it all (savings,travel nice place) on an average salary 🤷🏾‍♂️ Pick your poison 😅 28:16

[@DannyRodeck]

totally agree with the costs!

[@spicyramen.]

Ok as she mentioned, this is for someone who wants to live alone. But if you don't mind living in a houseshare then your rent can come down to 850 pounds including bills, Zone 2 and the rest can come down to 600 pounds. It really depends on your lifestyle and savings. I live comfortably with 25k (I am a graduate), and i save 500 a month which is decent.

[@aunnaqvi3133]

Similar situation, but 850 is the benchmark fo a room in zone 2 now.. its crazy, i managed to get a room for 750 but its a small ass room in Bow

[@edmundtory6931]

How on Earth you spend only 25 a week? I am jelaous! I know Asians eat mostly grass and earth but still...

[@Andie_Estella]

Would love to see your weekly grocery list and how you budget that £25! Also, what was the take home calculator (I’m assuming it’s calculator, though you did say “calendar”) you used?

[@MonicaXGuan]

Haha yes calculator 🙊 and I’ll try and do one soon!

[@kish829]

Landlord wanted 1600 for zone 2 studio last year.

[@Louisa536]

25 pounds a week is insanely low! Fruits alone are so expensive, I don't know how you do that😅

[@GoodToAila]

If you’ve watched her videos for a long time her company provides breakfast and lunch’s

[@MonicaXGuan]

Actually I spend even less now that I go to the office a lot more and eat there 😅 £25 was when I would go in twice a week at my previous job. But this doesn’t include eating out 2-3 times a week

[@katarzyna3346]

@@GoodToAilaoh now it makes sense, she could have mentioned it ! :)

[@KittyKat-vb1nd]

​@@GoodToAilaand a sponsor

[@natashamilanov2055]

Hi Monica, thank you for such an informative video! I started following you last year when I decided to move to London and now it's finally happening. 🎉 Thanks for reading my mind and uploading this as I was really wondering if I'd be able to live comfortably with my salary in London this year. Also, if you're open to meeting a new friend soon, please let me know. ☺️

[@DanielPerez-op8oz]

ótimo vídeo, em 2019 dividia um apartamento com mais 2 pessoas em Bethnal Green e pagava pelo quarto 600/month hoje o mesmo quarto está 850, absurdo, para dividir um apartamento com duas pessoas estranhas... Londres não está fácil.... ótimo vídeo! Parabéns!

[@thatdudebello]

You will need a gross salary of £50,000 to take home £2,800 a month (after tax, pension and student loans)

[@amazonfinds9157]

So how do you pay rent and still survive with this

[@thatdudebello]

@@amazonfinds9157 I left London for cheaper housing. Bought my house and I pay £450 for my mortgage. Every one I know survives by living with their partner (dual income) or still living with their parents. Some of the figures in the video is slightly off but her point still stands. Bottom line is median salary in the UK is around £35,000. People can “survive” but all their money goes on bills then, an occasional night out, then they run out. They can’t do anything else without credit card debt or lines of credit (klarna and stuff like that)

[@marfu1119]

I couldn't live in London. I dont kneo how people survive living there. Most people live in share accommodation that is something i would find hard to do.

[@edwinjr4312]

I'm on a 1 bed flat, £1000, all bills included. Zone 2. Thought mine was expensive till I see the comments here...

[@kish829]

This seems mostly accurate to me. God forbid if you have a kid or other dependent.

[@nathanaelshing]

love these kind of videos 🤑🙏🏻

[@MonicaXGuan]

💕💕

[@charvisharma8658]

thanks a lot. this is really appreciated :)

[@MonicaXGuan]

💕💕

[@danielpeti3885]

why on earth would anyone wants to live in London with those prices ?

[@karenwilliams2626]

Thanks for this!!!

[@MonicaXGuan]

☺️💕

[@davethebrave.]

If you're looking for a one bed in the UK, it would be better to have a studio.

[@Henry-u7l]

I earn 300K per annun, half of it is tax, house mortgage, car, all sorts of bills, holiday for 25 days a year (my holiday allowance), and live a normal city worker life style, dine out few times a week, gym, mid-range shopping at John Lewis, sometimes Selfridges, it hardly leave me with any savings.

[@josh-ed7je]

Umm this just sounds like you just don't know how to save or your priorities isn't saving.

[@AlliIsNotaGirlkisser]

Fam, you're the problem. You have terrible money skills. My single mum, my brother and i live a great life on less than 2k a month.

[@thatdudebello]

@@AlliIsNotaGirlkisser in what area of the UK?

[@AlliIsNotaGirlkisser]

@@thatdudebello in London. South East London to be specific.

[@thatdudebello]

@@AlliIsNotaGirlkisser sad reality that you mum didn’t do it on less than 2k alone. Without some type of housing subsidy, government help (child tax credits, benefits) or extra money from somewhere else (child support payments maybe) that would be impossible. May you and your brother/sister brought in money as well, I dunno.. all I can say factually that is impossible

[@Casperb883]

This sounds accurate, I moved in 2021 too. For a decent 1 bed now in zones 1&2 I’m seeing > £1700 pm

[@duncancampbell9490]

no mention of pension or easy access savings.... here in the North we survive on half that amount.

[@ihelmzi065]

you inspire me sm!! 💕

[@MonicaXGuan]

🥹💕

[@kwameopoku3576]

Really enjoy ur vids 👍🏿👍🏿

[@lggsretrofinds4461]

transprtation can be out just get a bike eating in would save u alot 50 pounds on occianal takeouts i would be safe 2000 if not social at all

[@Marek_Cali]

how is it possible that you spent only 25 pounds per week for grocery? hard to believe. my every visit to store is $100

[@emilytaylor7265]

Lidl and Aldi are amazing, can buy meat, cheese lots of fresh fruit veggies on that budget and a fun extra like dessert or fancy olives all for 25£

[@Gentian-Gashi]

Hi Monica, great video! What app / website did you use to display the prices ?

[@MonicaXGuan]

Do you mean the graphics? I made them in figma actually :)

[@HPmagic1000]

Thanks for sharing this updated budget for London in 2024. Just curious does the budget above include insurance costs? Feel like that could easily be another GBP100+ per mo? Asking as a Sydney sider who is planning to move to London for work by year end 2024. Thanks!

[@MonicaXGuan]

hmm what do you mean insurance? like health insurance? If so, you pay it up front as part of your visa cost! I don't pay for any insurance month on month.

[@mikewinston8709]

A friend of mine…earns £110k gross …..pays £1650 per month in Crouch End for a gruesome one bed flat. All she can find because she has a cat!

[@guccicacao]

😢

[@guccicacao]

why it’s so difficult to rent with pets in the UK?

[@mikewinston8709]

@@guccicacao Muslim landlords; who like neither cats nor dogs. Plus, bad experiences with rogue tenants. My friend has the latter landlord.

[@blackwarrior4life]

@@mikewinston8709All landlords are Muslims????

[@KittyKat-vb1nd]

Americans appear to not go beyond zone 1-2. Thats a tourist version. Real londoners do not live that way

[@pin-chun9567]

What is the name of the bar? Thank you :)

[@kiranchannar6898]

Great video. Thanks for the info

[@danielipacs9166]

London is terrible these days. Earning £43K but living abroad (hybrid work) and flying to London weekly. this is the only way I can afford working there lol. Otherwise I'd have 0 savings pretty much.

[@rainbowlyniscool]

How much does that cost you?

[@danielipacs9166]

@@rainbowlyniscool about £600 a month. whereas just a flatshare (so living with others) costs £900 per month in london, PLUS underground is gonna cost you miniimum £200 per month (if you only take underground twice a week). soo yeah...

[@edwinjr4312]

How can you work abroad? I asked my work if I can do that and they said no due to some tax issue or something.

[@danielipacs9166]

@@edwinjr4312 i dont tell them im abroad lol. they cant do anything about it. (it's in hybrid setting tho, so I still fly to the office once a week)

[@philipho188]

I think if people are saving it's more like 80 but most is zero.... :(

[@mercheg.8397]

Do you have any laws where they limit how much they can increase the price yearly?

[@MonicaXGuan]

Unfortunately in london they don't!

[@allen28713]

How much do you make? And what job?

[@catchan1888]

Hi, does the weekly cap for tfl only apply if you use an oyster card? Not a debit card?

[@MonicaXGuan]

It applies for both, as long as you use the same card consistently :)

[@Drill74268]

Move up North, It's more affordable to rent a house or apartment compare to London.

[@gwapito03tres]

Thanks for the info!

[@blackwarrior4life]

Hi, wich job in London as a salary of 43.500 per year ?

[@amirhosseinmehdipour1791]

Which website did you check the rents?

[@MonicaXGuan]

Rightmove!

[@katarzyna3346]

Hold on... you spend 25 pounds per week on grocery??! How it is possible, do you buy only ready made soups or dishes? I would say min 100 pounds per week if you eat reasonable healthy with some not the worst quality meat, fruits and vegetables, let's be real:)

[@AlliIsNotaGirlkisser]

She says she spends even less now, because she works less from home and more from the office now, and eats at the office.

[@HashBrownDoyler]

got eating out you have 368GBP which is 764 in my countries currency. You have absolutely lost your marbles if you are spending that much on food and drinks each month.

[@classicalperformances8777]

what about health insurance?

[@sachinpersaud7037]

Good point, I'd be curious to hear how much private health insurance is.

[@MonicaXGuan]

Most people use public health care in england so not sure the cost for private

[@sachinpersaud7037]

@@MonicaXGuan how extensive would you say it is compared to OHIP? Most people here still rely on workplace based private insurance to supplement OHIP.

[@MonicaXGuan]

@@sachinpersaud7037 hmm from my experience it’s similar to OHIP. You have a GP which is your family doctor and they can refer you to specialists which is all free. But in Toronto I’ve never needed private health insurance for most things (prescriptions are cheaper in the UK I find as well, set price for all prescriptions) so unless you mean for vision and dental care? In that case then yes it’s the same as Toronto.

[@classicalperformances8777]

hi! you mean, you just book a gynecologist's appointment and go without paying?@@MonicaXGuan

[@AkramBaig2689]

Birmingham cheapest to rent and more better

[@cagcag696]

I live on 700 pounds.

[@trapitusaventurez2190]

I can't find anything decent for 2k a month in central, it;'s so bad haha

[@shaqisumari304]

Londoners are rich , should be okay… high street still full

[@dusanveselka3240]

If you don't earn at least 10k a month, you live like a cockroach

[@katiemando2058]

If only the rent could come down or government needs to put in a cap on rent increase

[@MonicaXGuan]

Agreed!

[@Aetheri_Angel]

A cap on PRIVATE rent specifically, they already have capped social housing rent recently, i fount out my neighbours pay around £600 to £800 on a two bedroom property In E16, I pay around £900 in a shared three bedroom property in the same location

[@deboraleggerini5729]

First, the government has to cap and decrease interest rates! Otherwise, just the interest rates will be more than your rent! The government will not do that thou.

[@rickp2293]

Nah rents to the moon

[@Erika-rh1tf]

girl is delusional on the rent - in a really bad area.. maybe.