There are many debates that on what the amount is that will ensure you are living a comfortable life. Everyone would have their opinion on what comfortable living should mean but to put everything into consideration, there are certain things, activities and expenses that need to be satisfied to have life as easy as possible.
In London, what you need to care about most is actually well known and 99.99% of those living in London would agree with these. The 0.01% who wouldn’t is those who really don’t live there but claim to know just too much about the amazing city. These tips would apply to everyone living their different kind of life.
This is the most expensive thing you would have to deal with in London. As expensive as London has grown to be, its houses and apartments have become almost a different tale of expense. Your expense depends on your choice of living- If you want to get an apartment in Zone 1, Zone 2, Zone 3 or even Zone 4, if you would prefer to live with a roommate or if you would prefer to go it alone. Whatever your choices may be, you should know it would determine what your budget for apartment rental would be.
Basically, a rental apartment in Marylebone would cost on an average £1500 per week while flats for rental in Waterloo would cost about £500 per week. The difference in price is quite visible and such is the variation in prices for apartments in different zones and location. Depending on if you are single entrepreneur, a family, or a student you can make your choice around this.
Expenses on transportation in London will be based on what zone you are living but for the sake of this post; we will assume you are living within Zone 1 and 2. Your Travelcard will cost you about £130 every month. Remember this is just for those who are living within Zone 1 and Zone 2. The farther out you live, the more you have to budget on transportation but then rental prices also decrease.
If you are single, a student or otherwise, your expenses on food every month should be about £450. This is considering that you cook your food and also eat out frequently. You can get the food you need in a food shop for a week for about £50. However if you want more exquisite meals then that comes with a higher price.
Miscellaneous costs will consist of a lot of things. It would contain your hobbies, social activities and vacations. We are all different people and we all like different things, are involved in different activities and consider different things for fun. For whatever it is that you are involved in, you can be sure you would be spending at least £2000 every year on them.
At the end of every month, you will be spending about £3000 – £5500 every month to live a normal non-extravagant life. Now, check out how much you make or will be making and see it would work well with this budget.