Thinking of moving out- can I afford it???

josephine82

Thank you everyone for all your comments.
I'll try to answer the questions that have come up!

Holiday- this is half what I put aside now. However, I get a season ticket loan which I pay back in instalments so I have an extra £300 in April and May which usually goes into savings or for holiday etc. Saying that all my friends are married (!) so the usual abroad holidays don't happen- its usually going to visit friends for a week here and there during the year.

Counselling- yes this is ongoing, and necessary at the moment. I was something I needed and put off for so many years and finally bit the bullet and did it and am amazed at how it has helped me. It is STUPIDLY expensive but thats life. I'm hoping not to need it for too much longer.

Rent- this is actual rent for a flat through the Rent to Homebury scheme in my area that i'm eligible for and have been sent details about. 'Normal' rents in my area for a 1 bed flat are about £700-£800 so you can see why I'm considering it.

Groceries- yes it sounds low but this is reality from the last 4-5 months. I am very boring and eat all the same foods and just have got into a real routine. I put £80 into a separate account and spend from that, usually have a couple of pounds left over.

Gas & Elec-As I've never lived in a 1 bed flat I have no idea about these so I don't know. Water is the DD figure for a 1 bed flat from the local water company.

I'm not sure its do-able. It looks really tight and while I have a lot of money in savings for an emergency I don't want to end up touching this.

So Difficult. I want my own place but I also need a life!

josephine82

Thanks for the other replies too that I didn't see when I posted just now!
Yes, the landline could increase to £12 a month if I couldn't get sky. And then I would have the cheapest sky package at £18 a month.
Would be happy to go freeview though and just ask for a super duper Freeview plus or whatever is is box for my birthday etc.
Or I could get a mobile broadband dongle and not bother with the landline or sky at all. I'm not that fussed about sky although it would be nice to have if I could afford it.

As for your question about a moving budget- I would need money for a sofa and basic living room furniture but apart from that I have everything else. Obviously I'd need a higher deposit that I paid for my house now but I am happy to allocate a small amount of my savings to this.

gonzo127

well its great to see your being sensible and trying to consider all options freeview or even freesat would probably be good options to start with even if you do decide to 'upgrade' later once you know all your out goings this might be easier if you got the freesat from Sky as they would just send you a new viewing card instead of having to get a full install but you need to weight up these options yourself

as for landline/mobile for calls and broadband it is a good idea if you do not use the phone or internet a lot (for downloading) as most people prefer a mobile to a landline, and mobile broadband ranges from £7.50 a month (on 3 for 1gb) so could be a bit of a saving there however 1gb usage is not a lot - would be enough for general browsing and email however things like youtube and iplayer etc would be a no go as they would quickly eat into your allowance

WorzelG

You will be permanently flat broke with no wiggle room at all..

Other expenses will inevitably creep in. Id look for a house share option, can be a good way to meet new people as well.

josephine82

WorzelG wrote: »

You will be permanently flat broke with no wiggle room at all..

Other expenses will inevitably creep in. Id look for a house share option, can be a good way to meet new people as well.

What other expenses are you referring to?
I already live in a shared house which is why I'm thinking of moving out.

gonzo127

i think Worzel probably means things breaking (TV etc) and needing replacing increases in utility bills those sort of other expense's

However I do not agree with you having no wriggle room,

as I have stated the entertainment budget CAN be cut if NEEDED £150 a month for 1 person is a lot (on the money saving board) as you are looking at £35 -40 a week on entertainment (drop to £25 a week and you save £50 a month)

the counselling you have stated you hope not to need it for much longer which will free up some more money (up to £140 a month saved)

you have said the landline and TV might be able to go for the time being once again freeing up some money (£15 saved depending on what mobile broadband you went for)

if you move house are you moving closer to work? If so will this save petrol/could you even walk?

ISA – this could be dropped down if the brown stuff really hit the fan (£25 saving a month)

Just with those basic things you could save £65 on normal things + another £140 on counselling once you no longer need it

Since you have been sensible enough not to get any credit cards or loans (so jealous!!!) you do not need to worry about getting any of those companies thugs on your back so it would be just a case of changing your lifestyle a little bit if you found out things where a bit more difficult than originally planned – this is going on the fact that you would be willing to make lifestyle changes!

WorzelG

josephine82 wrote: »

What other expenses are you referring to?
I already live in a shared house which is why I'm thinking of moving out.

Well what about moving expenses, some small amount of redecorating perhaps, costs of adding your own funiture/pictures etc. You'll now have a whole place to look after instead effectively just 1 room. This will definately add costs. Maintenance etc

£80 for groceries, sounds very low to sustain month in month out. What about expense toiletries/cleaning products that need to be replaced form time to time.

Car maintenance looks tight.

Not saying it would be impossible to do, of course it isnt. But you will be permanently skint and may have to rely on credit. This is one of the reason for people building up these huge debts imo. Slowly but surely spending more than they earn.

You could cut your entertainment/counselling but you would have to decide how much that woukld effect your quality of life.

josephine82

As I said I have savings which I would use but I guess there would be no emergency fund and if my TV or laptop did break then i would have to dip into savings yet again to replace.
And yes, my groceries is realistic- I buy own brand toiletries and generally don't spend money on myself in that way. Boots own brand makeup and tesco shower gel works for me! :j

I feel that I have been realistic about most of the other things and I think this has been a really useful exercise. I'm not convinced it will be worth it to be honest- i'd love to have my own place but i don't want to sacrifice my happiness for it. And there is no way I want to put myself in the position where I have to live on credit. No way!

And i would use a very small amount of my savings for a moving fund which would be fine and i'd be happy to do but not at the expense of having to stay in all the time because I can't afford to go to the cinema or out for dinner etc. Hmmmmm.

Its so difficult for single people who want to live independently- it should be more affordable! :rolleyes:

gonzo127

the thing with going out, most things can be done at home

yes going out is really nice, but do you sometimes go out just because you do not want to sit down in your current house to watch a movie with your friends because of your current house mate? same with going out for a meal?

the only one person can answer these things honestly an it is yourself but i just wanted to point out that some of your going out activities could be changed for staying in and having your friends around activities of course ice skating is a bit more difficult

and yes it is scary how much it costs to set up home