Many foreign nationals live in the United Kingdom; some come for a brief visit, while others decide to settle there permanently. Many of them decide to live in London, the nation’s capital, which is pricey but also home to the highest paying jobs.
If money is tight, a smaller town or one of the larger regional cities will provide you with much more value. Remember that the United Kingdom is more than just England.
Think about Belfast in Northern Ireland, Glasgow or Edinburgh in Scotland, and Cardiff in Wales. Whatever your destination and whether you’re retiring, moving temporarily, or settling permanently in the UK, it helps to have an idea of how much living expenses will be for an expat there. This is a brief overview of UK living expenses.
Living comfortably in the UK depends on several factors, including your lifestyle, location, and family size. This guide explores the average income needed for different scenarios, along with tips for managing your finances effectively.
Average Salary in the UK
The average full-time wage in the UK in 2023 is just under £35,000. However, this figure doesn’t include deductions for income tax and national insurance. Additionally, rising inflation means your salary won’t stretch as far as it once did.
Salaries vary significantly across industries. The top average salaries in the UK by sector in 2023 are:
- Electricity, gas, steam and air conditioning supply: £50,528
- Financial and insurance activities: £48,197
- Mining and quarrying: £46,978
- Information and communication: £44,733
- Professional, scientific and technical activities: £41,453
- Construction: £38,005
- Education: £36,362
Cost of Living in Different Regions
The region you live in significantly impacts your earnings and standard of living. London has the highest average annual full-time salary at £44,370, followed by the South East (£36,560). However, higher costs of living in these areas may mean workers get less ‘bang for their buck.’ Meanwhile, workers in the North East recorded the lowest average salary in 2023, at £31,200.
Cost of Housing:
- London:
- One-bedroom apartment (city center): £1,600+ per month
- Family home (city center): £3,000+ per month
- One-bedroom apartment (outside city center): £1,200+ per month
- Family home (outside city center): £1,900+ per month
- Manchester:
- One-bedroom apartment (city center): £849 per month
- Family home (city center): £1,500+ per month
- One-bedroom apartment (outside city center): £589 per month
- Family home (outside city center): £1,000+ per month
- Edinburgh:
- One-bedroom apartment (city center): £828 per month
- Family home (city center): £1,700+ per month
- One-bedroom apartment (outside city center): £664 per month
- Family home (outside city center): £1,200+ per month
- Cardiff:
- One-bedroom apartment (city center): £650 per month
- Family home (city center): £1,300+ per month
- One-bedroom apartment (outside city center): £483 per month
- Family home (outside city center): £800+ per month
General Living Expenses:
- London: £1,500+ per month for a single person
- Manchester: £1,200+ per month for a single person
Inflation: The cost of living has risen significantly for everyone in the UK. Expect to pay more for everyday items than you did a year ago.
Income Needed for a Comfortable Lifestyle
The minimum income needed for a comfortable lifestyle depends on your circumstances. Here’s a breakdown:
Single Person (No Children):
- £24,876 (2023)
Couple (No Children):
- £34,494 (2023)
Single Person (One Child):
- £47,501 (Child aged up to one)
- £28,069 (Child aged two to four)
- £30,465 (Child of primary school age)
- £36,460 (Child of secondary school age)
Couple (One Child):
- £53,158 (Child aged up to one)
- £33,728 (Child aged two to four)
- £36,122 (Child of primary school age)
- £38,774 (Child of secondary school age)
Couple (Two Children):
- £67,554 (2023)
High Salary in the UK:
- £40,000+ for a single person (with or without children)
Managing Your Money Effectively
- Analyze your income and outgoings.
- Draw up a monthly budget.
- Sign up for online banking.
- Set up a savings account.
- Transfer a portion of your salary into your savings account each month.
- Consider a notice account or easy access savings account.
Living comfortably in the UK requires careful planning and budgeting. By understanding the average income needed for different scenarios and implementing effective money management strategies, you can achieve your desired lifestyle. Remember, the figures provided are for guidance only, and your individual circumstances will determine your specific financial needs.
How much does travel and transportation cost in the UK?
Since driving in UK cities is frequently rather slow, using public transit is a wise decision. Large cities have a vast public transit system, although tickets can be expensive.
These are some typical costs for automobiles, bus tickets, and other transportation-related items. The prices listed below are London prices:².
| Transportation and vehicle prices for London | Average cost |
|---|---|
| Gasoline (1 litre / 0.25 gallon) | £1.76 |
| Monthly bus/transport pass | £160 |
| Bus ticket, single use | £1.65 |
| Taxi start (normal tariff) | £4.65 |
| Taxi tariff, 1km (normal tariff) | £1.7 |
| Toyota Corolla, new | £24.526 |
| VW Golf, new | £24,300 |
What are the average salaries in the UK?
According to the latest OECD data, salaries in the UK are above average and they rank at number 15 out of 35 countries. However, your earning power will vary a lot depending on where in the country you live. Typically, salaries decrease significantly as soon as you move away from the capital and the South East of the UK.
Here are some professions and average salaries for those positions. The information below represents the average salary in Cardiff, Edinburgh, and London.
| Salary averages in London¹¹ | Average annual salary |
|---|---|
| Cashier | £15,483 |
| Copywriter | £26,140 |
| Financial analyst | £40,042 |
| Graphic designer | £26,738 |
| Mobile developer | £41,431 |
| Product manager | £46,063 |
| Receptionist | £17,553 |
| Software engineer | £42,925 |
| Teacher | £25,539 |
| Web developer | £32,664 |
| Salary averages in Edinburgh¹² | Average annual salary |
|---|---|
| Cashier | £14,387 |
| Copywriter | £23,876 |
| Financial analyst | £41,086 |
| Graphic designer | £21,433 |
| Mobile developer | £32,709 |
| Product manager | £52,448 |
| Receptionist | £14,865 |
| Software engineer | £29,078 |
| Teacher | £23,356 |
| Web developer | £26,423 |
| Salary averages in Cardiff¹³ | Average annual salary |
|---|---|
| Cashier | £12,057 |
| Copywriter | £23,052 |
| Financial analyst | £26,114 |
| Graphic designer | £23,979 |
| Mobile developer | £26,167 |
| Product manager | £36,941 |
| Receptionist | £15,339 |
| Software engineer | £32,540 |
| Teacher | £20,300 |
| Web developer | £19,883 |
How much money do you have to earn to live comfortably?
FAQ
How much money do you need a month to live comfortably in UK?
Is 3000 pounds a good salary in UK?
What is the average salary to live in UK?
What salary is middle class UK?
How much do you need to live comfortably in the UK?
A couple with no children would need a total of £27,340 to live comfortably, or £13,670 per person. That would mean a total net income of £485.73 per week. While a single person with no children would need less money coming in, and a salary of £20,383 would suffice, which would be £325.26 in net weekly income.
How much money do you need to live a good life?
The amount of money you need each month to be able to say that you’re living well depends on your location. More expensive cities, such as London, require a larger income in order for you to have a good life. However, keep in mind that this particular amount also entirely depends on your personal standards.
What is the Minimum Income Standard for the UK?
The Minimum Income Standard for the UK shows how much money people need, so that they can buy things that members of the public think that everyone in the UK should be able to afford. Figures are based on public views about a minimum standard that nobody should fall below
What is a good salary in the UK for a single person?
Given the above breakdown, a good salary in the UK for a single person (with or without children) would be above £40,000, allowing them to have a good standard of living with some room for luxuries such as a yearly holiday and a car. However much you earn, it’s important to manage your finances effectively.