This post is mostly for professionals across the world who seek to travel long term (> 6m?) to UK, more specifically London for employment reasons and always end up asking themselves, how much does it really cost to live there and what kind of life my pay package will offer me there? Answers to both the questions can be summed up in two words ‘It depends’. 🙂
So one can not provide an answer that fits all individual lifestyles. So you can find thousands of pages on the net talking about the range of prices one have to pay for each expense head. Also i am yet to see one post which gives a detailed break down of all expense heads (at least the compulsory ones) for a regular life there. I attempt that here. Have a look at the table below.
|House Rent||750||London subrubs. 2BHK, Zone 4 East|
|Water + Gas + Electricity||70|
|Tube+Bus Pass||150||Office travel to Central London|
|Food Expenses||300||Cooking at home 6 days a week|
|Kids Education||50||Govt School only. Private school expenses 700 GBP/m|
|Misc||100||Just goes before you realize|
This is a sample summary of monthly expenses for a family of 3 (Couple and young child) living in Zone 4 in London subrub area and commuting to central London on work as of early 2013. Apart from these there are few annual expenses one incurs specifically if you are an expatriate. Sample expenses shown below.
|Annual Vacation||1500||Trip to home country once a year|
|Shopping & Misc||1000||Personal shopping + Gifts|
|Health Insurance||400||Saved if provided by Employer.|
As i said earlier these are just sample numbers with statistics gathered from very few families staying in same vicinity. Expense heads and actual expenses depend on lot of factors and probably that is the reason why there is no post out there which sums it all in one place. One can take this as an example and do some rough maths to get a picture.