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Depends on your specific ambitions, financial commitments, health, hobbies, location and standard of living expectations.
Is the £64k gross or net?
As a healthy single person renting a small 1 bedroom property in zone 2-3 with no debts, partner, pets, children or dependents?
As a healthy debt free couple with no pets or children renting a small property and trying to save towards a mortgage deposit?
As a single person living in a central London houseshare with a pet, younger siblings living overseas and elderly relatives with care needs to support?
Is the £64k gross or net?
As a healthy single person renting a small 1 bedroom property in zone 2-3 with no debts, partner, pets, children or dependents?
As a healthy debt free couple with no pets or children renting a small property and trying to save towards a mortgage deposit?
As a single person living in a central London houseshare with a pet, younger siblings living overseas and elderly relatives with care needs to support?
Average Salary in London is 40k
Original post by londonmyst
Depends on your specific ambitions, financial commitments, health, hobbies, location and standard of living expectations.
Is the £64k gross or net?
As a healthy single person renting a small 1 bedroom property in zone 2-3 with no debts, partner, pets, children or dependents?
As a healthy debt free couple with no pets or children renting a small property and trying to save towards a mortgage deposit?
As a single person living in a central London houseshare with a pet, younger siblings living overseas and elderly relatives with care needs to support?
Is the £64k gross or net?
As a healthy single person renting a small 1 bedroom property in zone 2-3 with no debts, partner, pets, children or dependents?
As a healthy debt free couple with no pets or children renting a small property and trying to save towards a mortgage deposit?
As a single person living in a central London houseshare with a pet, younger siblings living overseas and elderly relatives with care needs to support?
64 gross + 12.5% bonus. Live on own (no pets) in a decent 1 bed flat in outer london, good health, go running and hiking, go out on the weekends (maybe 1 evening a week also), commute to work in central london, go on 2-4 holidays a year.
The cost of living in London can be quite high, so it really depends on your personal lifestyle and expenses. However, a salary of 64k can be sufficient to live comfortably in London, particularly if you are living alone or with a partner who also earns a decent income.
It depends on so much: your lifestyle, what area you want to live in, expenses and so on. £64k would be amazing for someone who lives on, say, a council estate in Tottenham, but it would be a very poor offering for someone living in a penthouse in Mayfair.
Original post by Sorcerer of Old
It depends on so much: your lifestyle, what area you want to live in, expenses and so on. £64k would be amazing for someone who lives on, say, a council estate in Tottenham, but it would be a very poor offering for someone living in a penthouse in Mayfair.
What about somewhere in between those 2 extremes?
Original post by Ybsy75
What about somewhere in between those 2 extremes?
Take your pick - there are some places in London like Bexley, where you can rent a 1 bed flat for £1,000 per month, and on other end of scale, in Chelsea it could cost you say £10,000 per month. In terms of wages, I would say you need between £40K and £400K depending largely on where you want to live in London!
Original post by lalexm
Take your pick - there are some places in London like Bexley, where you can rent a 1 bed flat for £1,000 per month, and on other end of scale, in Chelsea it could cost you say £10,000 per month. In terms of wages, I would say you need between £40K and £400K depending largely on where you want to live in London!
Also wider lifestyle. £400k wage would leave £100k after housing even if one were paying £10k/month.
Original post by Ybsy75
What salary do you need to live in london? Is 64k enough?
64k? Enough? Wtf?
I make about 18k in London and live very comfortably, what the hell are y'all buying?
Original post by JaceW98
64k? Enough? Wtf?
I make about 18k in London and live very comfortably, what the hell are y'all buying?
I make about 18k in London and live very comfortably, what the hell are y'all buying?
You exist with 18K in London. But comfortably with that amount is only possible if you rarely go out, have a tiny clothes budget, don’t go to restaurants, don’t use taxis, and have zero cost hobbies.
Original post by Ybsy75
What salary do you need to live in london? Is 64k enough?
£64k is fine, I know people who live in London on a £24k salary lol
I would have thought someone being paid £64k would be capable of putting together a budget for themselves
https://www.moneysavingexpert.com/banking/budget-planning/
Fill it in - decide for yourself
Fill it in - decide for yourself
Original post by JaceW98
64k? Enough? Wtf?
I make about 18k in London and live very comfortably, what the hell are y'all buying?
I make about 18k in London and live very comfortably, what the hell are y'all buying?
So on £18k gross your take home is what £16k? So £1,350/month?
You spend £600/month for a single room in a shared property.
Not entirely sure how that can is living very comfortably. You share a bathroom with randomers?
(edited 11 months ago)
There isnt an amount of money someone could pay me to live in that cesspit
Original post by Euapp
You exist with 18K in London. But comfortably with that amount is only possible if you rarely go out, have a tiny clothes budget, don’t go to restaurants, don’t use taxis, and have zero cost hobbies.
I live my preferred lifestyle very easily. Fully acknowledge that my preferred lifestyle is on the cheaper end which does make it easier (I only buy second-hand clothes, don't have a car, eat mostly saved-from-waste food etc - I do go out a lot, I just prefer to go to community events rather than fancy restaurants), but I do all those things by choice and would live in the same way if I had a higher income, there's nothing that I want to do and can't/don't because of my income, that's what I mean by living comfortably.
I don't have kids or need any healthcare/accessibility accommodations, obviously it's a different matter if you do, but for a younger person in good health I'd say my lifestyle is entirely comfortable.
Original post by Quady
So on £18k gross your take home is what £16k? So £1,350/month?
You spend £600/month for a single room in a shared property.
Not entirely sure how that can is living very comfortably. You share a bathroom with randomers?
You spend £600/month for a single room in a shared property.
Not entirely sure how that can is living very comfortably. You share a bathroom with randomers?
No 18k is take-home (approximately), I make £21,730 gross (NHS band 3).
I prefer shared houses and would choose one whatever my income (like a lot of people, who wants to live alone?) And I live with friends so not exactly 'randomers', but also, do you not use public toilets? Or bathrooms at the gym/office/pub etc? Everyone shares a bathroom with randomers at some times, why would it be an issue?
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