What's the minimum income needed for a decent standard of living?
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- Опубліковано 10 вер 2024
- How much do you need to earn to achieve a minimum decent standard of living in London? What do you find most expensive? What can be done to increase incomes and reduce costs for Londoners?
To mark the publication of a Minimum Income Standard for London, we asked Londoners their views on the cost of living in the capital and what action they would like to see to improve the situation.
Funded by Trust for London, a Minimum Income Standard for London is research undertaken by the Centre for Research in Social Policy, Loughborough University.
To find out if you earn enough for a minimum decent standard of living in London, use our interactive calculator: www.minimuminco...
Download the report here: www.trustforlo...
Rent is damn high
All we earn goes to rent and food
At the end no savings
Yep must move to Peterborough and get the train instead.
Rents of just 400-600pm
@@danbruno5945
Good idea I am thinking to move but due to Covid everything is delayed
@@shortbayanvideos5143 much cheaper peterborough or huntingdon mate more travel on train if you wish to work in London but more money and less stress financially ☺
@@danbruno5945 only downside is Peterborough is a shit hole
@@EssLoco defo scruffy lol but calmer and easier to drive on your days off than London and actually more convenient, quicker to get food shopping done or nip to queensgate.
London is a Ball ache just to do a foodshop 😂
Yes. I stayed in london for a while. It's BLOODY EXPENSIVE! !
thats why i left england 38 years ago and never look back . also it was better living on the dole than working
More like 100k minimum
I don think 100k allows one to live comfortably. Not even in some developed Asian cities where u have much less tax and public healthcare beyond what nhs covers.. but again definition of what comfort is differ amongst ppl. Thought u can work out 100k, 50k in/tax, 25k rental, 10-20k kids education, u don’t have much money left to take family on a vacation once or twice a year ... let alone increasing healthcare expenses
EC306 Not sure which Asia country you are referring to. I earn around 100K pounds a year and I live in Singapore. My tax is around 5K a year. For the remaining, 10K goes to mortgage, 15k goes to personal retirement account, 10k goes to expenses including food, bills, travel and international holidays. That leaves me 60K for saving and investment. I would consider myself living pretty comfortably.
Even 100k won’t be enough
Government money printing to fund spending = Devaluing cash + rising asset prices.
Devaluing cash + rising asset prices = people without investments getting poorer while those with investments get richer + rising rent costs
People without investments getting poorer while those with investments get richer + rising rent costs = Widening wealth gap.
Government printing or borrowing money is a tax from the poor to the rich.
Sorry for laughing at you.
Hahhaha...This is normally what I earn, a year, 25.000 £As a food delivery driver on motorcycle 🏍 .And I live in a single room...Soon I’m goons move out of London, somewhere in Kent...
You would live stress free with a salary of 40-50k
Yeah probably closer to 50k
Yeah that true but its almost impossible for a minimum wage or hourly wage worker to even earn above 20k
@@jazzoj5 50k is a safe amount because you have 3k and £100 change every month,
40k is good £2500 ,but £3000 is a nice and chunky
Dan Bruno not with student loan, closer to 2.8k
@@joshua2992 sacrifice of going to uni eh?
London is damn!!! expensive, it teaches you to spend in moderation especially if you don't have a well paying job. Rent was the worst according to my experience because is so expensive for something decent. Lovely city and people though lol.
It depends what area of London which you live in as some are cheaper than others, there is the option to move out to Greater London which my parents did so they could afford a 3 bedroom house and 2 kids (rented)
Just out of curiosity, why your parents not considering buying a property? I don’t live in UK so I am just trying to figure out why people rent rather than buy in UK.
@@wennw2711 it’s very expensive to buy a property. My parents don’t earn too much their we comfy but not wealthy enough to buy a home. I live in a council house which is owned the what we call a local council acts as a government home which is there for cheaper rents for poorer families but most families rent these properties and u do get the house cheaper if you live there long enough. Also, if anything goes wrong w the essentials on the property the council repair them for you and you don’t pay as a result .
@@wennw2711 surprised u found my comment from 3 years ago
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That first guy that said 25k
£1720 pm or something thats really good for me because I live in Warboys and my mortgage is only £300 a month but still somehow hard to save £500 pm so London would need ALOT more
Can I live in london with a salary of 1500 USD PER MONTH.
@@honestofficial8764 dont think so re than half your money will go in rent
50k annual threshold to live in a normal standard condition small-city-like
Yes, rent and everything is expensive but you have brain in the head so use it, and find out what's best for you and find cheaper deals. Open a company, become employed in your own company, (therefore find a jobs that pay you on you providing them with invoice) find a reasonable accountant and save on taxes, rent a room instead of the whole house, save there as well, buy dry foods as lentils, rice etc in larger bags and cook in advance for more days. There are so many ways how to work with money even with low salary. Of course I am talking about a person that has no family to support.
The common suggestion is "higher wages" and more regulation. No wonder why everyone hear supports the labour party.
Very simple, corporate and council tax = more jobs and more money to spend
Low wages exist, amongst other things, due to mass uncontrolled immigration and generally poor standards of education in the state sector. These are key fundamentals of any Labour administration. Wake up. Stop voting Labour when it is against your interests to do so!
Yes, living in London is expensive.Rent, food, bills.Guys, this is London, one of the most expensive Cities in the world. Get a vehicle, bicycle, scooter, motorcycle, car, but if you don’t want, support the consequences. Don’t spend money on eating every day in restaurants, eat home made food.Stop smoking cigarettes.
yeah, and when do you start living like a normal human being? If i save every pence & not enjoying my life, when do you actually live?
@@iamdylant you don't have to spend money to enjoy life.
@@amrit1870 you mean you don't want to get a car and drive wherever you want? Or get a house with more space for your children?
@@iamdylant you said to enjoy life living like a normal human being, a normal human being doesn't need tons of space a big house materialistic things. You can be happy living in a small house traveling in public transport. The important things are surrounding yourself with people you like spending time with your loved ones. Cooking at home with your kids doing activities playing sports which are basically free. Having competitions with others. Occupying yourself with something you enjoy.
@@amrit1870 you sound like a right bore
Supply and demand. It is all supply and demand.
Hashterix Shanghai's population is 4 times London's but its cost of living is 50% lower.
@@roddaz the earnings are also 50% lower in shanghai so there you go
@@roddaz I'm sure Shanghai also has 4x the amount of housing, most of which will be of a much lower standard than is allowed in the UK.
Government demand money and the poxy public who votes them in supply.
What's new?
It's being going on for donkeys years.
Stop drink and eating out don't buy unwanted things live a minimalist life and you'll end up have more by the end of month
what a time for this to be recommended
I want to do a degree apprenticeship in London where I will earn £22k, is this at all enough to live in London?
Not bad salary still a good £1540pm but for London most you could afford would proberly be a rent of £500pm.
@@danbruno5945 thanks! Is that terribly low??
@@jazlou If your just starting out in life 22k is a solid start but I do think your best bet is apartment share and have more money and cushion to relax.
Ideally having £1000 in your bank after rent/mortgage is paid is a stable feeling.
I live in Cambridgeshire in a village called warboys so its alot cheaper where I am but if your heart is set in London then go for it👌
I cannot imagine living in London on 22k that would be pretty miserable
what does income mean, monthly or annualy
Well for this video they are speaking about annual salary for which you can work out monthly anyways roughly
25k will be like 1720 in pocket
29k will be somewhere around £1960 pm
If you put housing in the open market,does it yield a good result?
Increase wages min 15 pounds in the entire UK stop zero hour contracts. Stop allowing strange foreigners who won’t live in the UK to invest and buy property and don’t use it. Stop job center meetings that’s are so often and let people be self emplpyed instead of going to those useless meetings
Thats me!
I believe that 25k is after tax right.. otherwise cannot really live in London
The answer is to lower the cost of living.
Let’s see a updated version 😳
Rent is way too high alright westminister
As an foreigner I'm a bit lost, are they talking about annual income or monthly income?
annual
Same lol
that is so true
london is a expensive sewer to live in
A month or year
Year
Poorer people who dont have a job suffer the most. They have twice as many hour's of the day to worry and cope with less than everyone else. Even low paid worker's at least have something to take their mind of the hopelessness of their situation, even bad job's are something. Fear is the order of the day. ✊☘️
Even with a combined salary of £100k outside of london, before bonuses etc. My girlfriend and I still feel poorer than my parents.
Because your parents have £101k combined salary? Or are you spending too much perhaps?
@@summerrr1My parents bought their home for 60k with a combined equivalent for that time salary of 40k, on a house now worth 600k. Shouldn't be too hard to figure out.
All of them salaries are low. I call that survival salaries.
rent, taxes, imagine you don't need to pay those, anyone with a job would be living decently, wow
No, because necessity goods will go up without anti-monopoly regulations.
So you'd have to pay a little bit of tax to support police, army, and basic regulations like that one.
But yes, the tax would be more like 5-15%, not 40-60%.
45k
25 k means per month or per year?
per day
Per year
Per hour....
per sec
per nano second
How come no one mentioned "girlfriend"
Yh boi and that guy living in the closet
UBI.
A year 30k pound ? Huh
3000
Hongkongers think minimum wage is very attractive as they can fully pay a house by selling their flats in Hong Kong. More & more will come indeed 😓
Even rent in the social sector is difficult to pay (eg £560 per month) when your employer won't hire you full time and pays minimum wage. When your take home pay is £850 per month it's a struggle. Been trying to get employer to increase my hours to full time for the last 4 years but they say it's not in their budget and yet they have hired new people to do the same job as I do on full time contracts. Go figure!
Get some fucking ambition
And do what?
@@samanthahardy9903 Come on Samantha!!!!!!!! Change the world Samantha!!! Fuck your shitty boss!!!! Find a new one!!!! SAMAAANTHA
@@Ben69642 I'm already looking for a different job.
Basically, he wants to get rid of you for the last 4 years....but you are not getting a hint....
Talking about modern slavery!
every comment is more government..that is not the solution it only makes things worse
Serves londoners right for voting remain. More cheap labour = lower wages.
Nah we love arab money
Wake up people we are all in slaved dont be fooled
we need the 99% to get used to struggling
Sorry for laughing at you. Sorry for laughing at you.
Don't live there.