Working out a budget - help & advice please!!!!

Glitterari

Right guys, don't know if this is in the right place...couldn't find a more appropriate place to ask...please move if need be.

Basically - me and the bf are moving to Noriwch in September as I am starting a MA at uni. Now, I am 25, have lived in halls throughout my first time at uni (graduated 2003) and have lived in shared accommodation for the last couple of years. The bf is 26 and not yet ever lived anywhere except Mummy's house!

We are going to move to Norwich so I can do the MA and Matt will work full time (he should be able to get a transfer to the branch in norwich so should be fine there plus he's been saving real hard too). Now, we want to go and rent a small and cheap flat for just the two of us - we're not looking to share with others and I think we can do it on our own (I'm intending on getting some part-time work plus I'll receive a bursary) - but only if we budget carefully. Matt's on a very average wage (around £14k tho I guess this might go down cos he's on 14k in central London - I know I know!) and I'll have v limited money.

Now, as neither of us have lived on our own and have never had to budget for household bills, this is where we need help.

I would like to know, how much we should allow for all household bills that might come up - water, electric, gas, tv licence - everything like that. Also, how much would be a reasonable amount for 2 people per week for food?

Now I know you lot will be able to give me real cheap suggestions - BUT could you please advise on reasonable amounts to allow for as we're bound to get it wrong at first and when I feel ready to start beingreally frugal then I'll come back and have a look!!

At the mo I just want the basic household bills monthly that we will need to work into a budget (don't bother with sky/internet etc, these are prob luxuries we cannot afford!) basically so we know how much we can afford to spend on rent - rather than thinking how much we think we can afford on rent but then find we don't have enough for bills. Sorry for the ramble...but really want to be sensible about this and make sure we're allowing enough for everything!

Thanks so much - Carly xxxx

melancholly

I get by on £10/£15 a week for just me, with OH at weekends - I eat pretty healthily and cook almost everything myself.... I don't really drink which helps! As far as bills go, it'll depend a great deal on what kind of place you get - e.g. whether you have gas central heating or just use electrical heater. The rent may or may not include council tax and water rates - double check that. I spnd about £30 a month on gas, electricity and phone/boardband, but I share with 5 people so I imagine you would pay more if there are just 2 of you - hopefully someone will come along with better advice soon!

bargainbetty

Hi Carly,

I've been doing my SOA, so here's a list which might be useful...

Rent
Council tax (check for student reduction)
Gas/electricity (two bed flat with storage heaters on avg £36 pm)
Water rates - probably about £20-30
I'd suggest an all in TV/phone/broadband pack - NTL do one for £30 pm
TV licence - about £11 pm direct debit
Check if the flat has any additional maintenance/service charges
Food/drink/toiletries - £100-150 per month max - cook your own, take lunches etc.
Clothes - always allow a bit
Birthdays/xmas/emergencies
Travel - I'd suggest finding somewhere within cycling distance, that way you save on buses/trains, and car costs.
Otherwise include tax, insurance (home contents too)
If you wear contacts or glasses, then include that and any other medical stuff you pay for - prescriptions etc.
Washing/cleaning (house and clothes) look on old style board for tips.

Get a notebook and draw up a monthly chart. Note down when each payment would be made and how much you would expect to pay, then you will see how much you need to have saved up to get yourself started.

Also remember furniture, bed linen, towels, household equipment etc. The one non-DFW thing I do is bed linen - get the nicest you can afford - you'll spend a third of your life in there, so it should be nice!

I hope this helps - budgeting for my first place scared the bejesus out of me.

Take care x

wishingonastar_3

have a look on the website for the local council re council tax charges, for a flat you should be looking at either a band a or a band b cost usually. that'll give you an idea on that. as for food, i'd budget around £20-£25 a week, to include cleaning stuff (have a good root through this board, you'll realise you don't need half the cleaning stuff you thought). As for electric and gas, it depends on what you end up with in the flat, but i'd say if you put aside £40 a month for both you should be easily covered.
Also, look around now for any bits you will need like bedding, towels etc, you may find some reduced or cheap somewhere, so get them and store them a bit at a time, so your not paying out a lot all at once to furnish the flat.
might be worth now keepng a spending diary of what you spend, will give you some ideas as to bits and pieces you spend money on now, you might not be budgeting for (little things like daily papers, etc).

Glitterari

Thanks for that everyone, it's really helpful.

Ooooh see, I didn't realise that I should be allowing £40 a month for gas and electric! See I am helped already! Hehhehehehe

Luckily, as I am following Slimming World, I make all of my meals from scratch and freeze food in the reduced section, etc. I also always take a packed lunch to work, as will the bf so there is no probs there - no big changes to adjust to.

We've also purchased an Orange PAYG sim card for about 50p so we can get the BOGOF offer on wednesday's at the cinema.

I am also no stranger to getting second hand furniture, as much as I would love to buy brand new this and that. I will happily go and scour a dump too for hidden treasures. And we'll be searching for a place with a minimum furnishing of necessity kitchen appliances, eg cooker, fridge, freezer & washing machine. The rest we can work on.

It's so exciting, I've never had my own place before and I am so looking forward to it. Also, up there you can get a decent looking (IMO!) 2 bed place if you're lucky for under £500 pcm whereas around here you're looking at least £800 which I think is ridiculous!

if I manage to budget well, we should be able to pull this off!

Thanks guys!

Pink.

Hi Glitterati,

It might be worth having a look through old posts on the Budgeting and Current accounts and the Debt free wannabe boards to see if you can find more ideas of how to cut back.

Pink