According to the latest figures, a single person living in London in a studio or a flatshare would need a gross salary of £37,000 to cover their everyday expenses and save a bit, according to personal finance website finder.com.
The budget considers rent, utilities and much more, and, unsurprisingly, the cost of accommodation is nearly 40% of take-home pay, with a single person living in a studio or flatshare in London spending an average of £921 on rent.
To live comfortably alone in a one or two-bedroom flat, the average rent is expected to be at least double the current estimate in central area.
The average Londoner spends around £133 on gas, electricity and water per month and an estimated £63 per month on council tax. A transport allowance of £200 per month combined with around £102 in online subscriptions brings total bills to around 21% of monthly take-home pay.
Gym membership, holidays and clothes shopping amount to 11% of the monthly budget. The average Brit spends around £2,115 on holidays per year, meaning a monthly contribution of around £176. Meanwhile, the average gym membership in the capital comes to £51, whilst the average estimated monthly expenditure on clothing is £32.