Is £16,000 enough to live on in London?

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She won't be paying back her student loan on £16k.

But regardless, a huge number of people live in London on that salary or lower. Plenty of people I've worked with in the past have survived on half of that, and no benefits. So yes it is entirely possible to live very comfortably, don't listen to the scare stories! Just remember to be sensible, don't spend stupid amounts of money on clothes/going out, try to live in a less desirable area, or one which is far out but with transport links, try to avoid getting the tube into zone 1 (get off and walk/cycle, or just use buses), and find a room in a house share instead of your own flat.

£16k is above the threshold for paying back student loan so she would be. Unless she's starting uni this year (in which case, you've got ages to worry about living in London!)

I don't want to sound overly pessimistic. I do think it's perfectly possible to live in London on £16,000 but it's all a matter of sacrifices. You won't be able to go on frequent shopping sprees and meals out on that income but if you're happy to cut back on the non-essentials than you'll be fine. I enjoy my nights out too much to be able to cut back!

That said, earlier point that £800 is excessive is quite true. You could find some decent flatshares for £400 pcm, which will absorb council tax, and then your only bills are phone, internet etc. which will mostly be things shared among your house.

(edited 12 years ago)

Reply 21

sherrybaby

Original post by inkblot

This is the key point. Considering your salary, you seem to be budgeting way too much for rent/bills. The most I ever paid was £670 all inclusive and that was in a nice part of Chelsea! I currently pay £500 including all bills and that's for a decent room in an ok area of London. Look on spare room websites and you'll definitely find something in your budget.

When I first moved to London, one of my flatmates was on £12000 and he managed by being very, very frugal. So £16000 should be doable.

Reply 22

cosmobear92

If you're living alone, i.e. you have no kids or anyone dependent on you then yeah you should be fine. London isn't as expensive as everyone makes it out to be provided you shop smart.

Reply 23

Big Jaffa Cake

My brother struggles to live on 45k gross, but then he lives in central.

Reply 24

Lamptastic

800 quid per month on bills is pretty high.

I personally share rent with the bf at 400 each (bills included), 112 on Travel, food at £50 a week but we alternate the buying of it and we eat v well, don't go out mental and opt for Sammy Smiths/Wetherspoons Pubs and cheap outings like wandering around London and seeing free gigs and cheap food festivals. I also cook from scratch which helps me out as take away prices are ridiculous when you veer away from chicken and chips.

If your rent and bills are seriously 800 quid before travel I do feel for you. That's gonna hurt. My best friend is on benefits and although she doesn't pay rent/council tax like we do she does have to pay gas, leccy, food and travel which can takes its toll- especially with a 6 year old in tow. She still manages though so dw.

As long as you are sensible you will manage but don't be expecting to go out every night and party like a banker, not that you thought that anyway. :h:

(edited 12 years ago)

Reply 25

JongKey

Original post by Big Jaffa Cake

My brother struggles to live on 45k gross, but then he lives in central.

Nah, he's just not good with money.

Reply 26

Dalek1099

Original post by Sugar.And.Spice

I'm trying to roughly estimate the costs of living in London, and say i get a job paying £16, 000, i spend £832 per month on bills (loan repayments, council tax etc.) then that'll leave me £500 a month for food and social life.

Is this enough to live on in London?
I know it depends where you live, but roughly?

Why not just live with your parents that should save quite a bit?