It’ll be no surprise to anyone that London is an expensive place to live, and an even more expensive to play. Below, let us look at how much money you need to enjoy life in the UK.
The average salary in the capital is £37,000 as reported by the National Office for Statistics. But apparently, you need to be making a lot more than that to actually enjoy life in the capital.
Finance company, S Money, looked into the cost of happiness across cities, as research from Purdue University found that having a larger income generally better people’s moods proving that money does buy happiness.
However, the university found this is only to some point, where the relationship between money and happiness weakens.
If you want to be happy in London, £79,524 a year is how much you need to gain which only the top 10% of earners in the capital make.
S Money claimed that ‘happiness (or the peace of mind required to achieve it) is permanently out of the reach for most Londoners’. That’s a sad revelaation.
The researchers analyzed their findings for each city, taking into account the cost-of-living differences across the country to calculate the sweet spot for happiness.
The cheapest place to be happy in the UK is Leicester, where you need to earn at least £61,117.
Cambridge, Guildford, Brighton, Bristol, and Oxford, all require a salary of over £70,000.
But it’s not just about how much you have. How people spend money has more of a little impact on our happiness levels so you don’t need to leave the capital just yet.