I'm just entering the world of work and am looking to rent a place. I will be living in central London. I've got next to no idea how much it costs to actually live in central London day to day (apart from "expensive") and I've never had much money to play around with before. As a result I'm not sure how much is sensible to spend on rent, whilst keeping enough to pay the bills, have fun, go on holiday and save a bit too. . .
I'm going to be earning a fair amount (lets say around 47-50k before tax for arguments sake). How much of that do you think it is reasonable to sink into rent (excluding council tax and bills) and how much do I need to budget for daily living costs in London? I would like to get a nice place that is very central, but I don't want to end up screwing myself over! Any advice would be appreciated!
I'm going to be earning a fair amount (lets say around 47-50k before tax for arguments sake). How much of that do you think it is reasonable to sink into rent (excluding council tax and bills) and how much do I need to budget for daily living costs in London? I would like to get a nice place that is very central, but I don't want to end up screwing myself over! Any advice would be appreciated!