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26K for a graduate role in London: how much will I really save?

Hi everyone!

I got an offer for a graduate position - for a consultancy company - in London paying 26K a year (gross salary I imagine).
Considering income tax, national insurance tax (which I don't really get, I'm not from the UK), rent (which is going to be at least £600 a month I think), council tax, transports, food, ......., how much will I really save every month?

After doing some calculations with a friend of mine - who happens to be from London - it looks like I would end up with like £500 a month. Is that a reasonable figure?

Thanks everyone
Original post by Rufio93
Hi everyone!

I got an offer for a graduate position - for a consultancy company - in London paying 26K a year (gross salary I imagine).
Considering income tax, national insurance tax (which I don't really get, I'm not from the UK), rent (which is going to be at least £600 a month I think), council tax, transports, food, ......., how much will I really save every month?

After doing some calculations with a friend of mine - who happens to be from London - it looks like I would end up with like £500 a month. Is that a reasonable figure?

Thanks everyone


Assuming you're sharing in a not so fantastic place:

£550-650 rent
£40-50 utilities
£20-50 council tax
phone - £10-60
internet/TV - £15-30+
transport - ~£100 pass
so £725-1k fixed expenses

£750-1k discretionary

After food, entertainment, saving for vacation, clothes etc you'd be lucky to save £200-300 (400+ at a push).



Posted from TSR Mobile
(edited 6 years ago)

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