4 ms·
Pretty hard to live off £1k a month in London. Rent is going to be ~50% of that minimum, then you have council tax + bills. Doesn't leave much at all for tran
by Scirra_Tom 11y ago
Pretty hard to live off £1k a month in London. Rent is going to be ~50% of that minimum, then you have council tax + bills. Doesn't leave much at all for transport/food and whatever else might come up.
- Symbiote 11y ago£1k is a bit less than the recommended monthly cost for students in London of around £1.1-1.2k, depending who you ask. That presumably assumes sharing a flat/house with others, but also probably assumes living relatively close to the university. The "London Living Wage" works out to about £1200 per month, after tax. There are people earning less than this in London. If the startup doesn't need to be in London they could cut costs significantly by being further out of London in the suburbs, or in a satellite town, and taking the train in when necessary. But this can put off potential employees. Maybe it could work at the beginning.
- kami8845 11y agoI was offered a single room (small but livable) 5 minutes walk off Brick Lane for £535 all incl. If you work in Shoreditch you can easily walk to work, so no transport costs. That leaves £500 for food & other spend. If you cook for yourself this is very plausible. Of course finding a room like that and getting it over the other dozens of people who want it is not that easy, but that's a system you can hack too.