FAO people in london... living wage?

mattyfez

mattyfez

mattyfez

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Joined
12 Apr 2007
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Hi all, I may have an opportunity for a new job in London, the wage is 28 which is good for where I am now, (yorkshire), but I'm a bit concerned about stretching myself, I'm in my own, will be renting and running a car.

Don't really fancy being perma-skint, want to ne able to afford a social if etc, opinions?

Thanks
 
~30K on your own is doable in London, but you won't have a ton of disposable income.

Depending where your working its usually possible to find some fairly nice places ~20 minutes or so out on the train which will reduce living costs quite a bit and make for a better quality of living.
 
Will you be living alone or trying to live with someone else/share?

Also where about's in London is the job based? This gives us an idea where you can live with a sensible commute as renting costs vary greatly over London.
 
I am in the process of moving to london.

Rent was more than I had expected, 3x what i pay now. although I did choose a nice part of Clapham (if there is such a thing) I ditched my car to cover that cost.

I am on 42k and im not sure its going to be enough :(
 
mattyfez said:
Hi all, I may have an opportunity for a new job in London, the wage is 28 which is good for where I am now, (yorkshire), but I'm a bit concerned about stretching myself, I'm in my own, will be renting and running a car.

Don't really fancy being perma-skint, want to ne able to afford a social if etc, opinions?
Click to expand...

Yeah, it's plenty doable, provided:

1. You ditch the car; it's pointless in London
2. You don't mind living somewhere small and pokey
3. You don't mind living a bit further out.
4. You're not an idiot with money
 
Depending on where you want to live, 650 plus bills is a decent rental budget for a shared place, you should be able to get a semi-decent area for that.
Then hundred or so a month on a travel card

Aside from that it depends what else you spend your money on - if you buy lots of gadgets and want to go clubbing a lot, then that's going to be expensive.
 
Mr Jack said:
Yeah, it's plenty doable, provided:

1. You ditch the car; it's pointless in London
2. You don't mind living somewhere small and pokey
3. You don't mind living a bit further out.
4. You're not an idiot with money
Click to expand...


I wouldn't go to that extreme - I was living on an income slightly less than the OP when I was in London and didn't do too badly. Running a car shouldn't be a problem (tho a bit pointless unless you need to go out of London a bit) aslong as your sensible and look for a car with good economy and low tax. I managed to find a sizeable 2 bedroom flat in an ok area that was affordable but I did have to look a little further out (was just outside Bromley).
 
Thanks for the info so far.. not sure if it's for me, yes on I'll be my own house/flat wise but know a few acquaintances, lose friends etc, so not to concerned in that respect.

Giving the car up would be sensible, I know, it's a 2.4turbo, so not really practical, but I don't really want to loose it. The job is central but I realise I would be living further out and train/tube it in.
 
Rroff said:
I wouldn't go to that extreme - I was living on an income slightly less than the OP when I was in London and didn't do too badly. Running a car shouldn't be a problem (tho a bit pointless unless you need to go out of London a bit) aslong as your sensible and look for a car with good economy and low tax. I managed to find a sizeable 2 bedroom flat in an ok area that was affordable but I did have to look a little further out (was just outside Bromley).
Click to expand...

er.. a little further out than Bromley is not London in my book (unless you mean Bromley by Bow)

I reckon you can survive in London for less than 28k but I suggest that your immediate priority is to find a girlfriend in London who earns more than you.
 
Well in terms of moving to "London" and working in London it counts, ~20 minutes by train to Victoria or Waterloo if your working in the City itself.
 
Kemik said:
Why will you be running a car in London?
Click to expand...

Because it's bloody useful to have a car in London. I'd struggle without one.

Don't give me that public transport is great nonsense, if you live anywhere but central London (which most people do) have a car to go to shops, drive around is a God send. I agree if you plan on living IN central London and not anywhere near zone 3 onwards then having a car seems a little pointless, but if you love cars (and he may well do, sounds like he does) why should he give up a hobby? :)

OP,

It depends on where you live and what quality of life you go by. You can survive in relative comfort with some compromises like sharing a flat etc... However if you want to live alone, and in London and run a car, I'd say £30k-ish would be comfortable if you're good at budgeting and not go mad?
 
explicit4u said:
42K in London is extremely do-able and you should actually have a bit left over if your sensible with your money. Are you on your own?
Click to expand...

More than easy to get by on 42k and have a decent quality of life nights out and meals out, and still save to go on holidays and put towards savings or other things. :)

In fact I'd be surprised if you struggle to live well on 42k in London. :)
 
I've lived in the burbs all my life and a car is very useful. There won't be any reason to get rid of it unless you live in central.

Seriously, living without one you have to depend on someone else with a car every time you need to do anything that requires a car. Like running something to the tip, shopping, carrying anything heavy, visiting anyone outside of London, DOING anything outside of London!!!

It's nice to have the freedom to use it. Otherwise you're just at the mercy of public transport and I don't know anyone who doesn't moan about that situation, despite what is posted on here through rose tinted specs.
 
I think 30k a year salary is doable 28k is okay too.

I agree with most on here about ditching the car but do if you really think you could afford to keep the car then do so!
 
28 would be fine, you probably wont manage to get a whole lot saved though, if you don't want to share expect to pay 300~ more than for a share in a similar area.
 
Thanks all, pretty much confirmed what I was already thinking... I'm still 50/50

I do like to have a monthly splurge on gadget/night out or whatever.

Think I'll see it through and if I get a formal offer ill have to have a serious think.

I currently earn 22k, live on my own and pay 450 rent, I really don't want to put my self into a relatively worse position, its tight enough as it is!
 
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mattyfez said:
I really don't want to put my self into a relatively worse position, its tight enough as it is!
Click to expand...

London is a cool place to be, lots of things to do, lots of people to meet. You might also find that your career prospects are better longer term by being where everything is going on, as well as through networking.

Don't rule it out from a purely financial perspective.
 
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