What I spend in a month in London | Managing finances | Cost of Living 2024 | Unemployed Diaries

Hello!
In this video, I take a deep dive into my monthly expenses while living in London, sharing how I manage my finances during a period of unemployment. From housing and utilities to food, transportation, and personal care items, I'll break down my budget and offer practical tips for surviving and thriving in one of the world's most expensive cities.

In this video, you'll learn:
How I saved up for quitting my job and prepared financially for unemployment.
The concept of four walls budgeting and how it helps prioritise essential expenses.
How I set realistic financial goals for the year ahead.
Strategies for finding income through job searches, freelance work, and side hustles.
Whether you're also navigating unemployment or just curious about the cost of living in London in 2024, this video will provide valuable insights and actionable advice.

🔔 Don't forget to like, comment, and subscribe for more content on managing finances and living well, even during challenging times. Share your own budgeting tips and experiences in the comments below!

UK Salary take home Tax Calculator

Chapters:
00:00 Introduction
02:15 My Four Walls Budgeting
05:00 Total Monthly Spending
05:56 How much emergency fund you need
06:55 Long-term Financial Planning

#unemployed #CostOfLivingLondon #BudgetingTips #FinancialPlanning #money

[catsmother]

You have made a good start. Now make it precise and accurate. Down the side of your spread sheet list all your outgoings eg mortgage, ground rent, council tax, gas, electric, water, phone, I group food and household together as one category ie food and toilet role washing up liquid anything you buy in the supermarket. Now food eating out or takeaway is just that not groceries. But you list your own categories. I have one for crafting and hobbies. One for diy and one for garden. You need to list every category you spend on like transport and clothes.
Along the top of your spread sheet put a date for every week I have every Monday. Now every time you spend money on anything enter it onto the spread sheet. You can really see how much you spend and on what.
On my spread sheet I continue with a second set of numbers for income. That can be wages, something you sell, interest on your savings, money received as a gift maybe on your birthday.

Wishing you success.

[SReid]

I really like you noted post tax calculations and also including a salaried costing of emegency funds not just bare bones expenses!

I asked my hubby do you want bare bones budget for our emergency funds or with some disposable income?!