What I spend In a Month as a Banker Living in London

[@nischa]

👉🏽 My first $100k tracker (free): nischa.me/personal-finance-tracker Been getting more views on this video than I expected. Thanks for watching! Just to clarify - there are expenses that I don't cover in this video because they go into my 'business expenses' as opposed to my monthly 'personal expenses'. So whilst it may look like I must be saving a lot, in reality a lot of it gets reinvested. The key message I hope to convey is where possible, live below your means and (re)invest Xx

[@sg3918]

Investing is a form of saving I'd say. It certainly isn't expenditure.

[@lemcakes32422]

@@sg3918 not really as it can go down

[@sg3918]

@@lemcakes32422 yep can do but even losses (especially unrealised) aren't really expenditure. It's a constantly moving thing. Hard to put in the same category, guess it's shown for simplicity.

[@lemcakes32422]

@@sg3918 its certainly not savings as you incorrectly said

[@uknasa007]

@@sg3918 investing is not saving thats 100% WRONG. Saving is when you put a fixed amount in a account and it says there idle doing nothing it doesnt go up or down. Investing is when you invest is something and depending on the value of the investment it can go up and down.

[@peterowen4456]

I don't know why but I find this type of video endlessly fascinating even though I am at a completely different life stage and live in a cheapish part of the UK. You are pretty switched on and I think your videos will be immensely valuable to young people starting out in life especially in London.

[@PrivateEquityGuy]

To everyone who has started or is thinking of starting their own business: *Believe in yourself and never give up.* If you can work 8 hours for someone else. You can work 2 hours for yourself…

[@itn0687]

Which business requires you to work only 2hrs a day?

[@SB20002]

@@itn0687 laundry business

[@mushfiq8318]

biggest load of shit i've ever heard

[@gatekeeperboxing5898]

@@itn0687 The 2 hours will likely be spent educating yourself on additional ways to make money that you can work towards putting into action.

[@pa5666]

I don't know a single business owner who works for only two hours...

[@martynbeaumont1100]

I've watched three of your videos so far and I agree with everything you've said. Especially liked that you mentioned in this video to focus energy on the big ticket items and not worry too much about depriving yourself of a nice cup of coffee.

[@CasualPhysicsEnjoyer42]

First realistic expenditure video for a finance professional I've seen for London (I used to be trader for an IB in London)! Thanks for the video :) I would say that the holidays and ad hoc spending is a pretty decent portion as well but i am glad you made that clear

[@elconservador9016]

Niche high-end videos that cover most of the topics someone interested in commercial banking like me would want to know. Currently watching during all my lunch breaks. Would love to see a video on what one must learn to land a job on IB if there isn't one already.

[@Mulcreevy]

This is great Niscah. Most people don't think like this and don't even know to do so. Education is critical. I will forward this to those I know who need it. Thanks.

[@scap11]

This is useful, thank you. I’ve started off in investment banking and I do stick to a monthly budget(fuel, eating out, travel etc) everyone says I’m crazy for having a budget as a “young”(29yrs) person but your logic I can relate to.. thank you 🙌🏽

[@OneUpReviewz]

I think its crazy people dont even have a budget

[@sashablack6963]

Thank you so much for this video! The point about having a cap of how much you can save is so true!! As a fresh grad who moved in with my partner for the first time in London it's so helpful to see what is realistic and aspirational spending habits. I have a decent salary for a fresh grad with £1900 take home a month but it's quite tight figure for London. I tried to save as much as I can and most I can get is £400 a month to put into Lifetime ISA for a house deposit. This however means that I live like a monk and avoid social occasions. When you add the factor of being a young woman in London and wanting to do all these exciting things and buy glitzy stuff you see online all other people somehow miraculously have the money for it can be quite challenging and demoralising. Only way forward is to increase income to be able to save more

[@C63Bez]

You could maybe live with family to save more and be able to go out as well. Or just be a hermit for a few years to save your money. Or save less and go out a few weekends a month Or save nothing now and wait until your income rises. When I graduated I was on £2100 ish, was able to save £600 ish a month on that living in London but I didn’t go out a huge amount. Much easier now after working 4 years or so due to salary rises.

[@squodge]

I'd say look more closely at what you're spending your money on. I work as a legal secretary in central London, so I don't have a mega salary, but it's reasonably good. I have a mortgage (one-bedroom flat near Kings Cross) and I can save around £1,000 a month if I put my mind to it - and yes, that includes socialising in a way that doesn't force me to spend huge amounts. I also cook most meals I eat (obviously not the ones where I'm eating out). It was the super-saving that allowed me to pay off debts and get on the property ladder.

[@NoName-ql1wk]

I live in London and spend around £5k a month. I don't lead a particularly glamorous life, it's just expensive.

[@timturko]

Hi Nischa. Your life and investment advice has really helped me. Your videos are clear, concise, and easy to follow.

[@suhummel7226]

I just ran across your videos today and so glad i did! You do an amazing job on the few videos i have watched. THANK YOU for your care, honesty and great & educational content you beautifully put out on here! Blessings to you, Nischa!

[@jamieopulence]

Love *everything* you have to say. You’re an excellent communicator - very clear ❤

[@anteleto8552]

Thank you for sharing! What shocked me the most is spending only 120 pounds on groceries (!)

[@tashalondoner]

Appreciate you keeping it real re eating out prices in London! I've been feeling guilty about dinner bills that come to £40+ and the meal wasn't even extravagant! Ditto with easily getting through £10 a day for lunch in the city. It's extortionate, yet equally it is tricky and expensive to get in all the ingredients to make things at home for lunch/dinner when office days and after work plans tie you to the city, which can be an hour from home. Nothing worse than spending on food that doesn't get eaten at home!

[@BitcoinManagement76062]

Do you Need Accounts Services , Payment Handle , Transaction Handle All Over world

[@terezmajor8669]

Thank you for your openness. It should be taught in school how to deal with money, I'm learning a lot now. Wish I was 20 years younger.

[@gcbeats]

We have identical expenses and I'm in Liverpool, so you are doing really well for London. Really cool video!

[@soniashah714]

You’re one of my favourite KZbinrs - your videos are so informative

[@nischa]

Thank you Sonia

[@searklarak]

My best friend, in his late 20s, works as a tax accountant in The Big 4. His job title is Senior Manager. He likes to invest, bought his first property (1 bedroom new build flat) recently and doesn't splash on many things except holidays and food. He's got a pretty chilled lifestyle and has similar expenses after factoring in bills.

[@Anonymous56657]

And?….

[@hamishmounsey3989]

I find personally impulse buys in convenience stores for me like drinks and snacks, and getting takeaways add up to one of the biggest expenses that can be saved

[@hatin_the_thinker]

Thank you for sharing this insights. Not many are willing to talk to this. But many like to hear about it just to grow their knowledge base. Don't stress about explaining yourself...it's not bragging. We live in the information age. And you are sharing just that. Tx

[@nischa]

I appreciate this a lot. Thank you

[@rickpruim4458]

Seems like a lot of people (including me) are getting these videos in their recommendation! Really enjoying them btw, keep it coming!

[@MCTriumphant]

It's amazing that the mortgage for your 2 bedrooms apartment in London only cost 1,200 Pounds per month, this amount is nearly impossible to find in today's market especially in London. I have been binge watching your videos tonight and I do find it super useful. Thanks for sharing all your tips with us!

[@VintageRadius]

You’re spending quite a bit less than I would have thought. I work in the Financial sector in Boston. London is always a pleasure 😊 Cheers!

[@Dana-ml7sy]

The one thing I did when trying to cut costs was learn to cook. Vegetarian food is cheaper but you can make 6 shepherds pies with 500g of lamb mince supplemented with lots of veg if you eat meat. Meal planning & prepping saves money. Rather than eat out my friends & I took it in turns to host a dinner party once a month & everyone would bring something to make up the feast. Sometimes they would be to celebrate an occasion & other times it was a theme night.

[@danielrichards9783]

I often hear how expensive London is, but your monthly expenditures seem pretty reasonable. Because you're a banker, you're probably good with money. It looks like you have a nice life. I would love to live in London but I am an American lawyer and tennis pro, so the transition would not be easy...unless of course I could coach or manage Radecanu!

[@megapangolin1093]

Beautiful, lucid, clear, open, honest explanation of your life and I thoroughly enjoyed this video. Honestly, I would have thought your makeup/beauty bill would have been huge for very obvious reasons.

[@zenakaur9947]

A minimal capsule wardrobe video would be great considering you didn’t buy new clothes for 6 months! / where to get quality items from

[@zoyakx]

Love seeing people in London come up on my feed! Brilliant channel :)

[@foxyfoxtrot4233]

I’m positively surprised at the mortgage amount. The total monthly payment is much better than the rent many people pay. Well done!

[@richardamos3173]

Wow! Your discipline is extraordinary. As for the "when I was younger" comment....I only started saying that after I turned 50!

[@ishaw500]

Binge watching. Love that you’re a Londoner and woman!! We are traditionally tight lipped around money.

[@lagatha9774]

This is a good video because I think many people (myself included) were just curious about how you balance a budget. You are able to plan for the future as well as stay on top of the expenses that are required to maintain your lifestyle now. It all comes back to living within your means. I am originally from the UK but now live in Toronto which is super expensive. I expected London to be a lot worse to be honest. By the way your content is very inspirational and gets us thinking about what we can achieve.

[@jordanelcock5723]

Great video. I’m a financial adviser in the East Midlands and it’s important we track our expenditure and be realistic with budgets.

[@Nilankams]

Hi I am a data engineer living near London (near Barnet). My living style is similar (2 bed newly build flat with service charge). My monthly outgoing is £2,200 and its really helpful to know someone else outgoing too (I've managed to keep it bit lower than you by £600). Thanks for sharing these expenses as its gives me really valuable insight to my own expenses.

[@kevinross8844]

Just started watching your videos, excellent. My top tip…get rid of your Nespresso machine, take a barista class, buy an espresso machine. My Rocket machine paid for itself in 2 years ( including coffee, cost of the machine, plus energy) plus the environmental impact….probably 3 polar bears saved more or less.

[@IMBLESSED-oe6dl]

I went 99.9% off caffeine, my body feels so much better

[@swerob00]

Love your videos! Can I just say that putting a camera in the fridge for your B roll is top quality! 🤪

[@jefferyhutchinson791]

Interesting video. The thing that surprised me most was how cheap it is to live in London - not the reputation at all. Your mortgage seems very reasonable as do your grocery costs. Those numbers would apply in cheaper cities - more so than NYC, Toronto or SF.

[@alannah609]

Wow, 1.6%! wish I could have bought my first house during the pandemic where rates were at their lowest, but couldn’t afford the deposit at the time. Now just moved into my first home, locked in at 3.6%. It’s a two up, two down terraced house doer-upper (150 miles north of London). I knew it would have me living from paycheck to paycheck because I just wanted to get on the ladder and stop paying extortionate ground rents and service charges in my previous flat (which were going into a greedy residential company’s pocket). While I applaud your success I do believe that sometimes getting some financial benefits are down to timing… particularly when global markets and governments seem to run a lottery on people’s house prices. I simply did not have the right amount of money at the right moment and am now literally paying the price!

[@sumildepala9932]

and im now looking at 5.1% lol. you lucked out from my point of view haha

[@RaphOrChuks]

Thanks Nischa for such insightful videos! It's always a pleasure to watch!

[@gatekeeperboxing5898]

I also work as an accountant in London and live there, but probably make alot less since it is not in the banking sector. It is always interesting when I see other peoples expenditure living in the same city, I always seem to find my monthly expenditure in every single category is considerably less, and some categories I spend nothing at all.

[@AlysVanS]

I think it’s interesting to see how others handle ££. I think you are disciplined and that something to learn from as I think it’s being spontaneous with spending that underpins financial unpredictability. I’ve only watched 2 videos but I’m inspired to put some of your advice into practice - apportioning and controlling the outgoings 😊

[@BitcoinManagement76062]

Do you Need Accounts Services , Payment Handle , Transaction Handle All Over world

[@cvstaff22]

I would love to hear about your journey to getting started in property and renting out commercial properties

[@idamantashi8529]

This is great. I was surprised to see you spent zero on clothing. Good for you. I totally enjoy luxury shopping.

[@letschatfamilyfinances]

I am shocked at how low these numbers are! Good work! Especially the mortgage!

[@LukeWalczak]

Thanks

[@Sensible468]

Hi Nischa, great channel. I was a little surprised on your food outlay costs. I would have thought this element would have been higher and especially living in London. All the very best for your channel. :)

[@davidgladpaul]

Hi Nischa. I have a video request. I'd love you to do a video on how to manage and grow your finance as a person who's just starting out a self employed job. Thank you in advance. 🙏

[@kristianas5375]

wow, that mortgage was a really good deal, I wonder what deal is/would be your next one. As an accountant, you must have the knowledge to negotiate or find a better one. I would love to find out how it turned out for you! And thank you for sharing this I just realized I must write everything down, even though I live below my means, somewhere I spend way more than you. 100 pounds for the train? how? I would be so happy to pay the same price... Is it within the same zone? Very last one, loooove your accent and clarity, as a foreigner it is like a pleasure, I have so much joy listening to your videos xx

[@JeshB]

Groceries alone is almost R5000 for a 2 person household. Electricity up to R1000 a month - not too mention that we now have permanent load shedding - no electricity for 3hrs 2 to 3 hrs a day, depending on what stage your area is in. The living costs keep rising but the income does not.

[@stuartsgp]

I live in London too, very interesting to see what you spend. Was most surprised by your groceries being only £120, that’s very economical 🥳

[@joseanp9061]

In my opinion this video is very interesting for everyone. People can compare how much money they spend considerating their incomes. Today I discover your chanel and it´s wonderful. Greeetings from Bilbao (Spain)

[@gurmitmal3165]

Love all your videos, eye openers for sure. Treating your income & household as a business re income V expenses is so very important... Plus a lot of common sense & not just wishing for the best is powerful... 😎

[@meeshello1]

Thanks for this illuminating video. It’s surprising for me to learn that in the US we pay much more for internet ($70/mo) mobile phone plans ($90/mo) and food ($250 per person is what I’ve been tracking for a year for me). I’m impressed that your cost of living in London is cheaper than life in the US capital, where I live. Talk about a cost of living crisis. 😢

[@TMBCSALEM]

your mortgage and interest rate are nuts. Amazing!

[@WA-of7nk]

The budget seems quite measured, I like it. Increasing growth and wealth in order to save more is a good point too. Will tell the Home Office 🙂

[@CaptainLeo]

Great content and well-paced delivery. I am so glad you don't do those sponsorship plugs, that's why I unsubscribed to several other channels.

[@annallfrey7289]

Just found your videos and really finding them interesting and inspiring. I’m amazed you spend only £30 a week on Food/groceries. I’m guessing this doesn’t include pricier things like washing/dishwashing tabs and cleaning products. Also noticed your monthly spend on gifts is more than your monthly spend on food/groceries. Really enjoying the videos

[@gurdeepchumber2764]

Great video & thanks for sharing,it's basic stuff but you'll be surprised how many people live above there means & are in debt

[@AS-yg5dt]

Just discovered this - love the channel - thanks for sharing - keep doing you. Peace 🙏🏽

[@tarunsingh229]

Nischa, you’re gorgeous. You remind me of very beautiful and graceful Indian actress, Chitrangada Singh. Thank you making such amazing content for your subscribers. More power to you. 🎉🎉

[@KeepingWatchUK]

Good for you. Seems you have a perfect balance of spending / saving and ensuring you’re enjoying your time in London! For me personally I try to overpay on the mortgage (also fixed at 1.5% a few years ago, fortunately) and save/invest any surplus. Problem is, my vice is wrist watches so any such saving ends up going on them anyway! 🤦🏻‍♂️😉

[@squodge]

Why do you need so many watches if you only wear one at any time? Besides, our phones have the time so your watches are a wasted expense (if the watches could somehow bring in income, then sure, it would be worth it). I also can't think how a watch can bring joy into your life lol.

[@eve_synn]

@@squodge watches are investments, they go up in value quite quickly!

[@phueal]

Never would have guessed your vice from your handle and profile pic!

[@dlc2479]

I noticed about the interest rate too. Definitely worth overpaying rn, my bf has a newbuild in zone 2 and his mortgage has gone up by nearly 3x 😢

[@inviaggioconraf]

I love the beauty that shines through your voice while you're speaking about "ordinary things". I have some ideas about a video that I would love to make, let me know if we can talk about it somewhere! Cheers from Italy🌻🗺

[@buntyvirani8653]

nicely done without boasting stuff, that feels like a great deal of work.

[@bff-experiments]

love the honesty and authenticity of this video

[@stoic900]

Awesome vid! I desperately need a side hustle. I've been dealing with the lifestyle creep that comes with salary bumps

[@Yuliana-wm9id]

Impressive eating out in London ! In NYC or even NY suburbs $25 is minimum for 1 drink inclusive of tax and tip. If you go for a dinner and drinks, it’s $100-150 per person minimum at a nice place. so $300 budget buys 2 nice dinners in NY only. Amazing how London is more reasonable! Although salaries in London are somewhat comparable to NY, I believe it’s 10-15% less only on average.

[@abouthisbiz4330]

I think Nischa video popped up because I accidentally watched 80% of a video about this Asian guy owning 39 credit cards. I'm completely uninterested in finance but Nischa is incredibly attractive. Am I wrong to watch her entire video and click the like button just because she's so very pretty?

[@GunduDundu]

Nobody cares

[@allanbahati1942]

Excellent video, thanks for sharing! We have pretty similar expenses but you beat me with locking that mortgage rate. Salute 👏👏 😎 new subscriber, and thanks for sharing your journey!

[@nischa]

Thank you!

[@dalegrange7503]

Hope you are doing well. I enjoyed the video . Good information and. Very well explained. Wish you all the best for the future..

[@dalegrange7503]

Thanks for the reply. Have a good weekend.

[@stos5363]

This channel is dope. Changed my mindset and this is one of the most beautiful woman I've ever seen in my life.

[@sgddfgfghfgh]

Simp

[@prathameshlandge4216]

could you please make a video on your career like how you got here like qualifying as an accountant and then banking, what uni you went to?

[@davidlu6265]

Good quality content! I’ll never get tired of it.

[@nischa]

Thanks!

[@neavius]

I’m really surprised..thought this would be a quick narcissist vid ..but in-fact your are a really sound soul . Thanks x

[@Teresa9450]

Wow..that's so economic. Groceries at 120 quids surprised me because even when I lived alone, my sainsbury bills would cost me 150 a month (LIDL, ALDI too far away and I too believe in budget spending )..also no gym expense seems interesting to me (I too feel gym sessions are useless...I'd replace them with tennis or so...) i know your channel is mostly about personal finances, would you mind making a video on real estate investments-like which is better, having your own home in London or renting properties? My MBA prof told me about the latter so I was curious to know as someone spending a lot on rent in Kensington! Thanks

[@yulial820]

Thank you for video! Unfortunately, as a girl I didn’t see any expenses on cosmetics or cosmetologist. I assume you either don’t spend on that or didn’t include those expenses. I would love to hear on that😊

[@mr.bubble1657]

Please make a video on your life journey....i mean like how what u did after schooling in india, what collage u went, how you got a job in london

[@keithnicholson9100]

Im surprised. I live I’m Vancouver Canada and i spend more. Im loving the videos, especially “Paying yourself first “👍

[@sikhpilot.]

Ok that was 200k more than I expected. Good on you! Great video.

[@Caroline-Horvath-Rivera]

love your videos! 🖤🌞

[@apoorvsingh_ASR]

Keep up the good work Nischa!

[@kelvinkuzy]

I have to say London is significantly cheaper than NYC, and then the interest rate is amazing 1.7%. I have not seen interest rates lower than 2.8% here.

[@nischa]

Oh it’s not like this anymore… I locked in a 5 year rate in 2021 but if I went to renew now I’d be lucky to get anything under 5%!

[@easik]

@@nischa Sending my regards from the Bay Area where rent & cost of living are insane (your mortgage won't even cover a below-average studio's rent). Nice to hear that you could get 2 bedroom apartment for that amount (or slightly more given the increase in rates)!

[@samuelfernandessantana237]

Bear in mind that most people in the UK (even in London) will make A LOT less than what she’s making. For reference a decent salary in London is anything above $100k and the average is about $60k. Costs don’t look low at these levels…

[@kelvinkuzy]

@@samuelfernandessantana237 that makes sense, I have always thought that the cost of living in London was very close to what it is in NYC but I guess it's not even close. Because over here to rent a 2 bedroom will run you $5500 or more.

[@LondonSoundSystem]

@@nischa Rates will be coming off soon.

[@DallaceLaDawn]

I live in the Bahamas, I try to find different ways to save on food but the prices here are ridiculous! $9 for a gallon of milk! Love your videos!

[@asht_talks]

Thanks for sharing. It's good to see someone talking about finance and speaking on 'taboo' subjects. I've started doing to same on my channel - good luck!

[@nischa]

Thank you. Love your channel also, good luck!

[@RockyMountainGardener]

I want to see a video on what you eat in a week to spend that little on groceries! 😮 What are your meal prepping tips?! I meal prep, I don’t buy processed food, get food from the butcher and I’m still 600-800 CAD a month.

[@squodge]

Meal prep is super-easy. You always cook more than you need, freeze the rest for later (which can keep for several months in the freezer). For instance, a lasagne (beef or veggie) costs about £5 to bake, and you end up with 6 portions. Each one now, save another in the fridge to be eaten within the next 2 days; and the other 4 portions can be frozen for another day, which doesn't even require cooking - just defrosting then microwave it. For 'fast food', rather than just sandwiches it's easy to make wraps, filled baguettes, paninis. Some easy prep meals are omelettes, stir fries, one pot chicken and rice, the list is endless. It really isn't that hard to keep your grocery bill down. Mine is £135 a month, only because I allow myself speciality items like Asian foods, chorizo, vanilla pods. Even making your own coffees at home (cappuccino, latte, etc.) saves a ton of money, rather than splurging in Starbucks, McDonalds, etc.

[@tajchana1]

Great organic video, keep it it real. Thanks happy new year !

[@traveller2478]

Thanks for Financial Transparancy. Think Global... Act local. It is important...

[@sg3918]

£2800 would be a lot for most people but for an investment banker that is like dust. You're quite measured with your spending, looked reasonable.

[@Jenni-ro2xh]

Yes but I find it less interesting to know how much she’s spending if she isn’t actually giving us her income , and break down then what remaining for investment etc .

[@FutureInvestmentsBullion]

A new found channel for me. I love it.

[@MegaSerioussam]

I thought it would have been more expensive. Great video. Love your channel

[@carolcarol1916]

Nisca you are a beautiful Accountant. So smart

[@danielcs6489]

Context... renting that property in central would cost ~£3000pm. Buying, north of half a mil.

[@riarawat4386]

Hi Nischa, thanks for this lovely video, was wondering if you could share a video on your expense tracker - how do you track it, formats etc. It would be greatly helpful, thank you!

[@andrewlunn]

Hi Nischa, you're making some great videos and I wondered if you also enjoy photography? A print for your wall may be a great investment or gift to yourself. You may even want to shoot it yourself so you have the 'life experience' as well as the tangible print. I shoot in London most days and often in & around Bank. Happy to offer you some tips or meet for a photo walk / shoot if you'd like to.

[@itisok1021]

Love it. It is veyr helpful to have a practical example. Thank you🙏

[@Mikesadventures-m2q]

Wow that's very good for living in london. I live in Phoenix Arizona in the states and have a similar budget.

[@luisfernando-mm3jt]

Nice work...Everything so tidy thanks

[@kikishmoo]

I’m living in the US, and not in NYC or the expensive west coast. Most of the Needs part of mine is very similar. But NOT the GROCERY!!! We, as a couple, need to spend around $600 each month on grocery 😅

[@DwightWalker]

Surprisingly good value for money on expenditure.

[@Yuliana-wm9id]

Wow $1200 gets you closer anywhere in NY , I am not even talking Manhattan! Even if you go like 30-45min subways / train away. London real estate is so much cheaper 😊

[@rashadrafiq9875]

London Born n breaded, but decided to move away from London to live a better lifestyle n morgage free, best thing I ever did👍