{ "media_type": "text", "post_content": "How much should our combined earnings be (pre-tax) to have a cosy time (safe neighbourhood, no rats) in London as a mid-20s couple? \n\n-We don’t really have expensive hobbies(I run and she watches Netflix), only time we splurge is a £6 pint in a nice pub once every few weeks.\n-Want to keep rent below 1500 per month between two of us (ideally lower) in Zones1-4, with max 45 mins of commute one way. \n-Want to have enough space to be saving up/investing £10k per year per person as a minimum\n\nThanks!", "post_id": "5f9131ae832d73002465b693", "reply_count": 8, "vote_count": 1, "bowl_id": "58f81907c1ca28001625d527", "bowl_name": "Londoners in Consulting", "feed_type": "bowl" }

How much should our combined earnings be (pre-tax) to have a cosy time (safe neighbourhood, no rats) in London as a mid-20s couple?

-We don’t really have expensive hobbies(I run and she watches Netflix), only time we splurge is a £6 pint in a nice pub once every few weeks.
-Want to keep rent below 1500 per month between two of us (ideally lower) in Zones1-4, with max 45 mins of commute one way.
-Want to have enough space to be saving up/investing £10k per year per person as a minimum

Thanks!

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Probably minimum £60k per year, £80k should be fine. Depends on what all of your other expenses are.

Sounds like you know enough already to make a spreadsheet and see what you need.

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Combined.

It depends on what savings means. Is that in addition to employer contribution and retirement savings?

Looks like OP wants a pretty precise number and the only way to get there is to actually tally it up.

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1500 combined rent is low for London unless you’re sharing a room in a house share in which case easily achievable. I guess if you want to save at least 20k per year combined I reckon 50k each?

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It sounds like you have the data already to figure this out😜

I saved just under 10k a year once I personally started hitting 50k pre bonuses and then modest bonuses brought it up to 10k, and my lifestyle is not as modest as yours.

Pre covid this meant 2 or 3 holidays depending on length, 1k rent a month for my part of it, and a couple of trips to the pub a week and often more than one pint and eat out or take away at minimum once a week

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Lived in London for 5 years and during that time my partner and I saved for many ‘big’ holidays, have a several investments, and put together enough for a deposit on a 2 bed flat zone 1-3.

That was with a household income of 90k or less pre tax. If you keep your rent below that number on a 1/2 bed flat, and truly don’t splurge, those savings numbers will be easily attainable. Savings did include annual bonuses I must add.

It makes a big difference if the odd £6 pint becomes two big drinking sessions a week, quickly reduces yearly savings by thousands.

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Paid 1400 as couple in Camden town a couple years back. 1 bed flat. Not a glam place but happy enough. Helped us save for deposit vs 1750+ for nicer place

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Also worth saying that couples can save to buy much easier than a single person like myself, if you’re at Wyman, you shouldn’t have too many worries

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