I have a salary of £28,000 a year when I graduate in central London.
This breaks down to £2,333 a month, and £1,860 a month after tax.
I plan to walk to work (Shoreditch will be close to my work) and will be sharing a 3 bedroom'd house. Given this, what sort of budget do you think is reasonable? My upper budget was £850pcm (for myself) on rent, but speaking to other graduates they are saying this is too much?
This is my budget, which seems like I'd be saving a lot. Am I missing something out here?
£2,333.33 – Base Salary (a month)
£1,860 – Salary after tax (a month) (£473)
£1,807 – Salary after tax and student loan (a month) (£53)
£954 – Salary after tax, student loan and rent (£853 per month)
£879 – Salary after tax, student loan, rent, utility bills (£75)
£750 – Salary after tax, student loan, rent, utility bills, socialising (£129)
£550 – Salary after tax, student loan, rent, utility bills, socialising, food (£200)
£400 - Savings after tax, student loan, rent, utility bills, socialising, food and council tax (£150)