Quick Answer: Can I Live In London On 20k?

Is 60k a good salary in London?

If you are young, single, and living in shared housing with other young, single people then £60k is a pretty decent income.

If you are a family and your partner earns a similar amount then you’ll be able to afford a small-ish house somewhere out in the suburbs and live a comfortable-but-modest lifestyle..

Is 20k a good salary UK?

It’s slightly below the national average, however a very decent starting salary. It really isn’t. 20k is a good wage if you’re young, fresh out of uni, still living with parents or in a house share but for a career it’s not a lot. You’d still be living pay cheque to pay cheque.

Is 45k a good salary in London?

Yeah 45k is decent. That’s around 2.8k monthly take-home. You can get a modern studio or even a small 1 bedroom apartment for 1200-1300, the rest is up to you and your lifestyle.

What is middle class income in UK?

As of 2011 the established middle class had an average household income of £47,000 a year and owned a home worth an average of £177,000 with average savings of £26,000. Many were graduates, and a majority of their members work in the professions or management. Many originated from professional and managerial families.

Is 35k a good salary in London?

Yes thats an average salary even slightly above average. It might be a bit tight if you get a flat of your own but should be still doable. If you are going to rent a room – its plenty.

What salary do I need to live in London?

To summarise, for a comfortable life in London for 1 person, you would need a salary of at least 40K a year.

Is 40000 pounds enough to live in London?

You can afford to live comfortably in London on a Salary of £40,000 per year. However, it needs to be kept in mind and considered what you want out of living in London. It is a genuinely brilliant city.

Is 100k a good salary in London?

It is certainly possible to live well in London for £100k a year, but there is a difference between wealth and income. … But 100k a year is considerably more than the average London wage. Most people already have considerable equity in housing though so prices reflect this.

How much should you spend on rent in London?

Experts advise that a person should spend no more than 35% of their income on rent alone. So for example, If you make £10,000 after taxes, you should aim to spend around £290 per month on rent. If you make £15,000 after taxes, you should try to spend nor more than £440 a month.

Why is it so expensive to live in London?

London is an expensive place to live and one of the main reasons is because it is the financial capital of the world. Its markets capture both Western and Eastern time-zones which allows it to gain capital faster than other countries in the world.

What is annual minimum wage in London?

The UK national minimum wage is reviewed annually and varies depending on the employee’s age. Currently, the wage for workers 25 or over is £7.83 per hour….UK minimum wage and living wage 2018–19.AgeUK minimum wage per hourMinimum wage from April 201925 years and older£7.83£8.2121–24 years£7.38£7.703 more rows•Jun 18, 2020

Is 80k a good salary in London?

Yes, you should have a pretty decent lifestyle living in London’s suburbs on an income of £80,000 per annum. … Fact is, that’s getting on for twice the average income for many Londoners!

Is 70 000 pounds a good salary in London?

For what it’s worth, this report has the average pay in London as being £40k. Of course there are astronomical differences in pay in London. Yes, £70,000 is a good salary for London (assuming you are not supporting other dependents).

Can you live in London on 19k?

as long as you are sensible, 19k should be fine. just be realistic, you cant go out to expensive bars 5 nights a week, you cant shop for all your food at m&s and you cant take taxis everywhere. you can still have a pretty good time on 19k I would think.

Is 30k a good salary in London?

30k in London is do-able. However this kind of salary level will only buy you a decent quality of life if you are sharing accommodation, or living right next to your workplace. Bottom line, if you’re only earning 30k in London, you have to hustle to survive, or else have some friends/family help you meet your expenses.