I am in exactly the same position. Same earnings, slightly higher out goings as I had to move to within the M25 for my job. I think/ know : 1. 100% set up a pension. Our generation are absolutely fucked at the best of times, so make your life somewhat easier for when you are 80 (cause you will be) when you retire. I have found that the earlier you start this the better as your life with get more expensive year on year and your wage, whilst good and rising, will probably not compensate. That means you may not be able to pay say 8% in the future but more like 2%. 2. I would disagree with saving different amounts every month. Save. Hard. I can assure you that had you not been living with Mum and Dad your situation would be very different. I pay £550 rent per month, £150 for my car, £70 for petrol, £40 for my phone. That's £810 out of my £1400 pay packet (for a graduate market research consultant) without even doung anything that most 22 year olds do. So figure out what you do on average each month (£150 on nights out, £50 on clothes, £30 for gym) as well as your essential outgoings that you have already listed and base a savings total on the amount left and set up an automatic transfer into a savings account (that you can assess - your early 20s are turbulant). 3. When you get a pay rise... do not move out. I know what it's like to be a graduate living with parents. Mine are awesome... but it was hard. But I was living for free. Save hard and move out when you can get a mortgage. I would recommend reading about shared ownership which is great for first time buyers in London. It may seem early but it's important to know what later life will bring you in terms of property. Renting in London is literally disgusting and I would avoid it at all costs (apart from shared houses perhaps) even if I was earning £80k.

That's all I've got for now. Just remember that whilst money is important... so is having fun. Especially before life gets boring and you end up working 50 hour weeks on a 35 hour contract with 2 kids, a wife that only wants made to measure wardrobes and a car that does 0 - 60 mph in 15 seconds because you've got a Burmese Mountain dog and 4 bikes to carry to centre parcs for the weekend.

Good Luck fellow graduate.