It's so easy to never look at your bank account because you're scared, to spend and spend and
spend and to not take any responsibility because you know you're getting paid but you're scared
to look at how much you're spending. I recently made a video where I broke down how much I earn
as a doctor and in today's video i'm going to do the flip side - I'm going to tell you how much I
spend as a twinty six year old doctor. "Twinty?" I'm going to tell you how much I spend as a 26
year old doctor living in Manchester city centre. If you're new here my name is Kiran,
I'm a junior doctor and a comedian. Welcome to the team and make sure you SUBSCRIBE to the channel.
If you haven't seen the video where I break down my payslip make sure you check that one out first,
and then come back to this video and we can talk about my spending as a doctor. There are
timestamps in the description if you want to skip around to the bits that you think are going to be
interesting. There are people on YouTube who've done this before, I'm not inventing the wheel I'm
merely giving my own spin on it. Let's start with my biggest expense - my biggest expense by far is
my rent. So I'm renting and sharing a two bed flat in Manchester city centre the rent for both of us
is 1040 pounds, so my contribution to this rent is 520 pounds each month. We are in a city centre
and the flat doesn't come with parking so I have to pay extra to be able to park my car here. That
leads on to car related expenses; to park my car here, which is a car park underneath my building,
I pay 60 pounds per month, which seems like a lot for a small slab of concrete
but we actually got a really good deal because most of the parking spaces around here are
100 to 150 pounds per month. It seems crazy, but people are actually paying between 20
and 30 thousand pounds for these little parking spaces because it's like buying
a little house. As well as parking I also pay for petrol to and from the hospital every day.
My hospital is not far away, only three or four miles so my expenses going there, going back,
going to my personal trainer and back are about 25 pounds in a week, so around 100 pounds a month.
When I was on tour doing stand-up comedy I was doing loads and loads more miles I've not done
any gigs in a while because of coronavirus so I'm not counting any of these miles in my expenses.
If you have a car in the UK you also have to pay for car insurance. My car insurance is 700 pounds
per year which is 58 pounds per month. So, my total car related expenses are 218 pounds per
month. Now let's talk about doctor's expenses - one of the main expenses is being a member of the
general medical council or the "GMC". The annual subscription for being a member of the GMC, which
you have to do if you're practicing as a doctor in the UK is 406 pounds a year. If you're a new
doctor, so you're newly qualified in the past I think four or five years you get a discount of 250
pounds so this brings my GMC fees to 156 pounds a year, certainly for the next couple of years and
then that price is going to go up so that works out at 13 pounds a month. You also have to have
insurance, so my insurance is actually already included in my job because i'm working as a GP
trainee, so they pay for my insurance. Insurance isn't too expensive when I was a locum doctor
I was only paying about 60 pounds for about half a year of work so about 10 pounds a month when I
was working nine to five. As I said my indemnity, so my insurance, is already paid for as a doctor
as part of my training program so my expenses for this are zero. Next up we have to stay up to date
with our learning so we go on lots of different courses to improve our learning. I've spent 400
pounds on doctor-related courses this month but because i'm in a training program I get a certain
amount of study leave, so although I've paid for this I will get 400 pounds back for this. So
actually my expenses for these courses is also none. Now let's talk about bills, the boring
bit. I'm going to skim through this and remember that because there's two of us in the flat these
expenses are halved - so I've got council tax which is the biggest bill 162 pounds a month
so my contribution is 81 pounds. We've got electricity at 35 pounds so my contribution
17 pounds 50. We've got water with United at 30 pounds so my contribution is 15 pounds.
We have got a TV licence at 31 pounds (because we kept on getting scary letters) so my contribution
is 15 pounds 50. We have also got internet which is 150 megabytes per second, which is super fast,
at 32 pounds per month, that's with Hyperoptic and so my contribution to that is 16 pounds.
My total contribution to these bills per month is 145 pounds. Next up i'm going to talk about
my social expenses. Our food shop for the two of us is about 50 pounds per week, so that's
200 pounds in a month and my contribution to that is a hundred pounds per month. We probably eat out
around once a week and occasionally get a take away so the expenses for this are probably about
20 pounds per person per week so around 80 pounds in the month. I'm pretty strict with my money and
good with savings so I don't tend to buy lunch at the hospital, I usually will get the food shop in
and make lunch for the week. Next up is a category called 'random stuff that I buy on Amazon'
and I've allocated an average of around 80 pounds per month for this. This might seem like a lot but
the reason for this is because in some months I will hardly spend anything at all but in some
months I may make a big purchase. For example I bought this monitor behind me for around 400
pounds so if i've bought that and in another month I've bought very little it averages out I think
to around 80 pounds per month I'm buying random stuff off Amazon. I also have a personal trainer,
I have three sessions a week at 15 pounds per session which is 45 pounds for the week, so for my
personal trainer I pay 180 pounds for the month. I don't pay for a gym membership because the complex
I'm living in already has a gym underneath. So my total social expenses are 440 pounds.
This is hugely variable. At the moment we're in a lockdown, we're not eating out very much
so this is quite low. In a time where things were open - we were going out more for meals, we were
meeting friends and going for drinks and that sort of thing, obviously stuff we're not doing anymore
but this does have a capacity to really increase this expense. So if you saw my other video about
how much I earn you'll know my take-home pay is 2707 pounds and 3 pence. My total expenses which
we've already calculated comes up to 1336 pounds per month, so my take-home pay minus my expenses
gives me a grand total of 1 371 pounds and three pence that I could theoretically be saving each
month. There's lots of things I haven't counted in this, so for example I haven't counted random
big purchases, so for example if I want to buy another TV or if I wanted to you buy another sofa
or upgrade one something I've got with regards to tech then obviously that's an extra expense.
I haven't factored in any unexpected expenses, so for example if my car were to break down or if my
washing machine were to break and that would need fixing obviously that would need to be counted
in my expenses. I've not talked about travel and holidays I absolutely love traveling it's one of
my favourite things to do, so I do a lot of saving and put money towards that which I've not counted
because obviously we're in a lockdown and no one is going anywhere. Our next step in life is trying
to get a house so that the money I'm putting towards rent is going towards something that
we're saving. I hope you enjoyed this video guys and you've got a bit of an idea about my expenses
as a 26 year old doctor working and living in the UK. If you enjoyed this video make sure you
subscribe to the channel and also like it and drop me a comment I'd love to hear what you spend every
month and let me know if this is more or less than you were expecting. Take care guys and stay safe!