Moving out, but inexperienced.

Robert_Sterling_3

IT_nerd wrote: »

What does water come in? Pints? :rotfl:

Metered water costs less than 9 pence per metric ton ( equals 1,000 litres of water ) from a tap and £3 per litre bottle at a resturant I have used in Essex
which is about 300,000 times as much.

IT_nerd

LeeSouthEast wrote: »

Budget for:

Rent (£580 pcm)
Council tax (£75)
Electricity (£50)
Water (£33 (400/yr ish))
BT Line (£12)
Broadband (£18?)
Sky TV? (£21+)
Gas (£40?)
Car-Related (£80?) (Tax, Insurance, Fuel, MOT, Maintenance etc.)
TV Licence (£12)
Your Mobile (£30)
Food (£100)

Total Liability per Month: £1051.

You're the right side of your monthly income, but it doesn't leave you much room to play with. Will your rent increase next year? Council tax certainly will as will most other bills. What if your car needs something major doing to it? You're left with minimal contingency funds to cover such eventualities.

I'm not trying to put you off - moving into your own Chez is one of the best feelings! Is overtime available at your workplace? Could you use this to build up a contingency fund?

No overtime unfortunatly.
Also:

Rent (£580 pcm)
Council tax (£54)
Electricity (£50) (I think this is somewhat high, but I'll go with it)
Water (£33 (400/yr ish))
BT Line (£12)
Broadband (£18)
Gas (£40?) (Again, I feel a little high but I'll go with it)
Car-Related (£20) (Insurance, tax, etc is all up to date. I pay insurance yearly as I do tax. Ill be getting a smaller car next year so it will reduce that.)
Your Mobile (£30)
Food (£100)
Contents Insurance (£30)
£967

£230 to doss about with.

Edit: Water is 9p a ton?! Ok, reducing my water bill to £5 a month. lol.

GrammarGirl

Hello, I earn around the same amount as you and my outgoings are as follows:

Rent £300
CT £63 (including 25% single person discount)
Water £69 :eek:
Gas/electric £30-50
Broadband/TV £26
Car insurance £31
Mobile £15
Petrol £100
Debt repayment £200-300 :eek:

All that equals £954, so I don't have much to play with either. But it's doable, as long as you're careful and try to keep an emergency fund going. The only thing I'd say is, it's very hard to commit to any real kind of savings. I have zero in savings and have been renting since I started uni. It's not a problem for me, but if you want to save properly you might want to think about a house share or a smaller/less nice flat to start with.

Robert_Sterling_3

IT_nerd wrote: »

(22% income, 11% NI) and got just over £1200 a month now. Is NI deducted before, or after tax?

they are both taken from the gross pay so that you can add the percentages and in this case get 22 + 9 = 31.

Unlike Half price and another 20% off

Which means it was 100
Half price .................50
Now another 20 off ...40

Wot a Chiz

IT_nerd

Thanks for posting your budgets, they're really helping.
In regards to saving, I'm pretty much done for now.
I'll sit on what I have. I've been saving for no real reason, I thought it was for a house but i don't even know anymore. So im just calling that money my get out of trouble free card.
If everything goes tits up in my life, I could probably last a year on that.

Saver-Rob

This is just what I need but for somebody actually purchasing a property. I will have to see if there is a useful thread anywhere.

LeeSouthEast

I over-estimate to be comfortable, just like you IT_nerd

ixwood

It's just about affordable, but do you really want to make things so tight? For a mortgage I could understand it, but not on rent.

What about holidays, dentist, xmas, birthdays, appliances, haircuts, clothes, furniture, Car (MOT, insurance, tyres, exhaust, clutch, eventual replacement) etc?

Maybe you should concentrate on earning more somehow?

hamstercheeks_2

IT_nerd wrote: »

No overtime unfortunatly.
Also:

Rent (£580 pcm)
Council tax (£54)
Electricity (£50) (I think this is somewhat high, but I'll go with it)
Water (£33 (400/yr ish))
BT Line (£12)
Broadband (£18)
Gas (£40?) (Again, I feel a little high but I'll go with it)
Car-Related (£20) (Insurance, tax, etc is all up to date. I pay insurance yearly as I do tax. Ill be getting a smaller car next year so it will reduce that.)
Your Mobile (£30)
Food (£100)
Contents Insurance (£30)
£967

£230 to doss about with.

Edit: Water is 9p a ton?! Ok, reducing my water bill to £5 a month. lol.

which equates to about £8 a day to buy lunch etc on - that;s very generous i think

nig0609

IT_nerd wrote: »

I have, but i'm pretty keen on living on my own.
Last time I asked about flats here I got lots of people telling me to flat share, but while I would undoubtably put up with it I would rather live on my own.
Also, I just did the new tax calculation using 09-10 figures (22% income, 11% NI) and got just over £1200 a month now. Is NI deducted before, or after tax?
I'm better off, maybe. Wooo.

are you sure you have the right tax ? shouldnt it be 20%?
Tax http://www.hmrc.gov.uk/rates/it.htm
NI http://www.hmrc.gov.uk/rates/nic.htm

Dont forget you will get tax allowance of £6,475/yr and NI allowance of £110/week - but if you are only budgeting then this will be extra in the bank...