2 ms·
You basically need to be saving 33% of your take home salary. As a rule of thumb you shouldn't be spending more than a third of take-home on your housing. That
by ig1 13y ago
You basically need to be saving 33% of your take home salary.
As a rule of thumb you shouldn't be spending more than a third of take-home on your housing. That leaves you with 33% for your cost of living.
To see how that breaks down in "real-money", the take-home of an average CS graduate working at a typical large company in a developer role in London would be around 20k.
So that would be around £550/month (£6600/year) in rent, so a shared flat in a cheap-to-average part of town.
Food would cost you about £2000/year
Personal goods another £2000/year
Travel around £1200/year.
Leisure around £1400/year.
Leaving you with £6.6k in savings, enough to afford all of the above for another six months without pay.
- bosie 13y ago> so a shared flat in a cheap-to-average part of town. mind sharing the cheap-to-average parts of town? I am just curious how far out they are. thank you.
- hipsters_unite 13y agoExcept that after tax and council tax, and energy bills and phone bill (internet and mobile), there is no way you would have that £6.6k in London. It'd be possible in another part of the UK maybe, but not trivial by any means.
- ig1 13y agoYour crazy if you think you can't get a flat-share in london including bills for £6.6k. Literally hundreds of thousands (if not millions) of people are spending less than that. Council tax doesn't increase with the number of people in a flat (>1), so when you're sharing the price for that goes down dramatically. You could easily reduce your spending in other categories as well if you wanted to spend more on rental (i.e use busses rather than the tube). Gumtree currently lists 19k flatshares below the £125/week mark: http://www.gumtree.com/search?property_room_type=&property_type=&seller_type=&min_price=&max_price=125&q=&search_location=London&category=flatshare-offered&search_scope=title http://www.gumtree.com/search?property_room_type=&property_t...