Moving to London is exciting, but one of the first questions people ask is simple: How much money should you save before moving to London?
To answer that, we asked the Next Stop London community. 500 people who have already made the move shared how much money they saved and whether it was enough.
Some arrived with huge savings. Others landed with very little. But when you look across all the responses, a clear pattern emerges.
Most people move to London with between £5,000 and £15,000 in savings, and many say the same thing once they arrive: It goes faster than you expect.
Below is what the data shows.
The Most Common Savings Amount: Around £10,000
Across the 500 responses, the most common savings figure mentioned was roughly £10,000 or the equivalent in other currencies.
Many respondents said this amount was enough to get started, particularly if they managed to find work within the first couple of months.
Typical responses included comments like:
- “£10k was enough but it disappeared quickly.”
- “Around $10k NZD and it worked because I got a job fast.”
- “£10k covered deposits and the first few months.”
For many people, this level of savings covered: rental deposits and first month’s rent, temporary accommodation while flat hunting, transport and commuting, living costs during the job search
However, a lot of respondents also said they would have preferred slightly more savings for peace of mind.
£15,000 to £20,000 Feels Much More Comfortable
People who arrived with £15,000 to £20,000 generally described the experience as far less stressful.
Instead of worrying about money immediately, they had enough breathing room to: search properly for a flat, take time finding the right job, travel around the UK or Europe, enjoy their first months living in London
Several respondents described this range as the ideal buffer when moving to London.
Moving to London With Less Than £5,000 Is Risky
Some respondents said they moved to London with very little money, sometimes just £1,000 to £3,000.
But in most of those cases they had a safety net, such as: a job already lined up, friends or family offering free accommodation or a live-in job like au pairing
Without one of these, many people said the experience became stressful very quickly.
Several responses were pretty blunt:
- “£5k wasn’t enough.”
- “I nearly ran out before finding work.”
- “I had to borrow money.”
London is one of the most expensive cities in the world, and arriving with minimal savings can make the first few months difficult.
Travelling Before Settling in London Uses a Lot of Savings
Another pattern in the survey was people travelling around Europe before settling down in London.
Many respondents said they saved $20,000 to $30,000 NZD before leaving home, but a significant portion of that was spent travelling before they even arrived in the UK.
By the time they actually moved to London, their remaining savings were often much smaller.
Several respondents said they wished they had set aside a specific budget for the London move itself.
The Upfront Costs of Moving to London
One thing that surprised many respondents was how quickly money disappears during the first few weeks in the city.
Some of the most common early expenses included: rental deposits and the first month of rent, temporary accommodation while searching for a flat, commuting and transport costs, setting up a bedroom or apartment, socialising and exploring the city
Those initial weeks can involve a lot of spending while you settle into life in London.
How Much Money Should You Save Before Moving to London?
Based on the responses from 500 people who have already made the move, the savings guidelines look roughly like this:
- £5,000 Minimum
Possible if you already have a job or somewhere free to stay, but risky without those.
- £10,000 Most Common
The most frequently mentioned amount in the survey and enough for many people to get started.
£15,000 to £20,000 Comfortable
Provides a financial buffer and allows time to find work and housing without rushing.
Frequently Asked Questions
Is £10,000 enough to move to London?
For many people, yes. Our survey found that around £10,000 is the most common amount people arrive with. It typically covers deposits, accommodation while flat hunting, and basic living expenses during the job search.
However, having additional savings can make the transition much less stressful.
What is the minimum savings needed to move to London?
Some people move to London with as little as £3,000 to £5,000, but this usually requires having a job already secured or somewhere free to stay. Without those, most people recommend saving significantly more.
Why do you need savings before moving to London?
Savings help cover the transition period before your first paycheck. This includes rental deposits, accommodation, commuting costs, and general living expenses while you settle into the city.
Final Thoughts
Moving to London does not require huge wealth, but having savings makes the transition significantly easier.
For most people, the sweet spot appears to be around £10,000 to £15,000.
That amount gives you enough time to settle in, find work, and adjust to life in one of the world’s most exciting cities without immediately worrying about running out of money.
