# £75K Salary- What is left after expenses?



## Skywalker11 (Aug 22, 2012)

Hi everybody,

I'm considering moving for a job to London together with my girlfriend. The job would pay 75.000 GBP gross per year. Initially I would have to support my girlfriend before she finds a job.

The tax calculator shows that I will have a net monthly income of 4189 GBP.

Can anybody help me figure out the rest of the expenses I should expect? We are living modestly and moving to an inexpensive neighborhood is definitely an option I will consider.

With this salary, how much would be left for saving?

Thank you so much for your feedback!


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## nyclon (Apr 3, 2011)

Skywalker11 said:


> Hi everybody,
> 
> I'm considering moving for a job to London together with my girlfriend. The job would pay 75.000 GBP gross per year. Initially I would have to support my girlfriend before she finds a job.
> 
> ...


£75,000/year is a good salary for London but it's impossible to predict. A lot is going to depend on where you choose to live. London is 659 square miles and rents vary widely. Central London is very expensive and a 1 bedroom flat will be set you back at least £300/week or £1300/month. The farther away you get from Central London, the cheaper rents get. Council tax also varies widely by borough and is roughly based on the size and value of the property.

Other expenses:

TV licence - about £145/year which can be paid monthly
Water will vary depending on whether it is metered or flat rate
Gas - Which? Switch
Electric - see above
Landline
Mobile phones
Internet
Content insurance
Commuting - Tickets | Transport for London
Food - Tesco Groceries


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## punktlich02 (Aug 21, 2012)

Skywalker11 said:


> Hi everybody,
> 
> I'm considering moving for a job to London together with my girlfriend. The job would pay 75.000 GBP gross per year. Initially I would have to support my girlfriend before she finds a job.
> 
> ...


The killer here is housing. If you Google 'housing costs london' and look at sites such as 'workgateways.com' you'll get an idea of regional variations within the city. 

I remember when people moved way out of town to save on housing, only to have their budgets destroyed when rail fares and petrol prices rose astronomically. I just read an article pointing out why schools in the best areas of cities like London have less able teachers and poorer GCSE results: without a substantial London weighting the best teachers will go elsewhere. And for strategic reasons the Government won't pay more for teaching in the expensive areas.

In Kensington and Chelsea, to take an area I know, people who bought in the 1970s live at a much higher standard than those who bought recently--except of course the very rich. It's a matter of the generational transfer of wealth going on now from children to their grandparents, and it's frightening. You are part of that, sorry.


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## Skywalker11 (Aug 22, 2012)

Let's say I have a budget of maximum £1000/per month for an apartment around 55 sqm, enough for two people. It will be not in Central London.

Now, with all the other expenses, is it realistic that I can put aside £2000 every month?


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## punktlich02 (Aug 21, 2012)

Skywalker11 said:


> Let's say I have a budget of maximum £1000/per month for an apartment around 55 sqm, enough for two people. It will be not in Central London.
> 
> Now, with all the other expenses, is it realistic that I can put aside £2000 every month?


'workgateways.com' says you can find a flat for that. 

You really ought to be able to live quite well on £75k. You won't have medical expenses and if you can find a good NHS dentist your dental expenses shouldn't be exorbitant--the kind of things that can wipe you out in the USA for example.

Food costs depend on you. Go to 'ocado.com' and work out a phantom food budget. If you only buy clothing on sales that need not cost a lot. If you don't have a car that's a huge saving.

But your budget will fall apart completely if you have a baby.


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## Skywalker11 (Aug 22, 2012)

It should be not so difficult to give an approximation of the other expenses. For example

Per month (for 2 people):

Council Tax-?
Utilities-?
Internet-?
Food from the supermarket-?
Public transportation-?
Car insurance-?


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## Joppa (Sep 7, 2009)

Skywalker11 said:


> It should be not so difficult to give an approximation of the other expenses. For example
> 
> Per month (for 2 people):


It's really a pointless exercise as amounts vary hugely based on personal factors. But if I have a stab in the dark:

Council Tax- Allow £100 a month for a flat
Utilities- About £100 a month.
Internet- free with TV package or up to £30 a month.
Food from the supermarket- This is really difficult. Alcohol is expensive in UK, much more than in Germany. Maybe £100 a week or £500 a month?
Public transportation- Again this depends on commuting. Average fare within zones 1-4 would be £3.60 peak, £2.60 off-peak. Zone 1 (Central London) is £2 a ride at any time. Bus is £1.35 a ride. All fares when using Oyster card. Once you know your commuting route, getting a season ticket will be cheaper.
Car insurance- New arrivals with no UK driving experience, maybe £2000 to £3000. Some insurers may accept no claim/accident-free proof from EU, so get one from your previous insurer.


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## punktlich02 (Aug 21, 2012)

Joppa said:


> It's really a pointless exercise as amounts vary hugely based on personal factors. But if I have a stab in the dark:
> 
> ...Alcohol is expensive in UK, much more than in Germany. Maybe £100 a week or £500 a month?


Only £100 a week? What would Michael Winner say? 

From Michael's Missives, 27 Apr 1997 (The Sunday Times):

_For the past 30 years, my first thought each Sunday - wherever I am in the world - is to get hold of a copy of The Sunday Times. After Section 1 and Motoring, I turn to Winner's Dinners. I find his off-hand attitude to basic necessities such as trips to the Caribbean, popping to Provence for lunch, *£600 bottles of wine* and the way he treats minions in vulgar eateries highly entertaining. I would love to have a life like his, but I have to spend the rest of Sunday dreaming of winning the lottery._


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