Living in London requires a significant income due to high living costs, particularly housing and transport. The average full-time employee earns around £47,000 annually, which is higher than the UK average. Financial experts suggest a salary between £50,000 and £60,000 is needed for a decent standard of living. However, some can manage with less by adjusting their lifestyle and financial habits. It emphasizes recognizing individual circumstances, such as commuting and housing arrangements, when determining necessary income levels.
According to the Office for National Statistics' data and employment market insights from 2024, the average full-time employee in London makes approximately 47k a year.
In order to live a relatively carefree life in London, financial advise provider Unbiased says you need to be earning between 50,000 to 60,000 per year.
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