Can a family of 3 survive on 2000 pounds a month in London, or are we committing suicide?

Question

We (my wife & daughter of 3) are moving to London for my new job. I'll make 2000 pounds per month; my wife, a pharmacist will need at least 2 years before getting a job in her line of work. My savings amount to 15K. The job has prospects for promotion. Am I committing suicide? The company pays plane tickets from home to London, 6 months rent, 400 pounds excess baggage.

Answer 1

I'd do it. With your savings, and the perks offered by your employer plus prospects for promotion, I think you'll do fine. You may have to cut a few corners until your wife can be employed, but I'd go for the dream.

Answer 2

Since rent is covered by your company for 6 months, does that mean you will be only living in London for 6 months, or you have 6 months to get on your feet before you have to start paying rent for yourself? I think either way it will be tight but manageable.  I live in reasonable 2-bed flat in a great area of town that costs about £1200 a month.  It would be a good area in which to have a young kid (the Kensington area west of the city proper) and there are a number of different styles of housing options.  But beyond that you have to make a call as to whether £200 a week (the left over) can support you.  Keep in mind:

- A week travel card (unlimited bus and tube travel for a week) is £24 per person

- Food for a family will probably be between £60-80 per week

- Household goods and travel around the UK would be additional.

One way to get around high costs of entertainment is to take a look at the event listings site http://www.spoonfed.co.uk or get a copy of Time Out magazine.  Both list lots of free events and family events in and around the city.  Good luck!

Answer 3

You need to figure out if you can pay the rent and have enough left over to pay normal bills once the company stops paying your rent.  You're wife could also get a part time job to supplement your income.  I was in London last week and paid 10 pounds for a sandwich and soda so it aint cheap there.  I've been in a similar situation like yours and it worked out.  You're going to have to sacrifice some comforts like eating out, vehicle, etc.  It can be done. Good luck.  Sometimes you have to take a chance, otherwise life gets boring.

Answer 4

£500 a week? Depends how well you have been living where you live now. But whatever happens you won't be committing suicide on that wage in London especially if they are paying six months rent up front for you. It is expensive in London but not so much that your £500 won't cover most of your needs and then some. You got enough savings to fall back on if things get tight which I shouldn't imagine they would save a huge medical bill but you would probably have insurance yes? Don't worry about the money it's the crime that you have to worry about in London.

Robert, the man is living rent free. That means he pays for their bills, their food, a weekly travel card to get to work. A family of three can survive in London on £500 after tax if they have no rent to pay easily. You would think that the man was moving his family into the Ritz or something. I wouldn't be expecting to save an awful lot of that money though. Oh yeh and one other thing, if you are not used to living in a big city then you are in for one h**l of a culture shock. London isn't the place it used to be.

Answer 5

Sounds pretty low to me. Where do you think you will live in London for a salary like 2000 pounds? London is like living in NYC price wise. Good luck!