Adulthood bills

the_insider

I make just over £16k and I currently support my out of work partner. I pay mortgage, all bills including council tax etc, run a car including all related costs, pay the grocery costs every month and pay for all our leisure and extras like cable tv. (He's got himself a pretty good deal!). We're also going for a 2 week all inclusive holiday in May (his half paid by the lovely father in law). I guess it's all about budgeting, making sure that you've got the best deal on everything and knowing that you're going to have to give up some things some months when you get hit with unexpected extras.

<sebb>

You said that you took home £1000 a month. That's signifcantly more than £10k a year when you allow for tax and national insurance.

£10k a year would see you take home roughly £750 a month and with your figures £550 rent, £111 loan, food £100, then you've already gone over your budget without anything else.

Plus rents vary significantly in different parts of the country, so the other posters rent could have been much more.

sebdevine123

sorry sorry, i forgot to mention my partner would credit me her half of rent each month, so say i bring in 800 a month, after tax, plus 250, thts just over 1000 right? so thts how its possible, my bills are halfed by my partner

PasturesNew

sebdevine123 wrote: »

Yes i can understand that, i wouldnt be able to manage a car lol then id really have no money, sorry, but im sure on 20 k a year a car is possible to have

Totally possible to have. I've always had one.... but not smart ones.

Prudent

I think it is very do-able. I have kept a tally of my monthly spending for the last two years. I have a three bed house (band D council tax) and a car (and have to spend over £100 a month on my commute). My monthly spend averages £849 or £10188 per annum. This is for two of us, myself and a daughter of 17. about £200 of that goes on my daughter between her allowance, clothes and extra food, ultility bills cost. I don't have a mortgage. Allowing for that £200 towards the mortgage plus the extra to come from the net pay of a £20k salary, you should have plenty. You may also not have the high communting costs. I earn a lot more than I spend, but live well so don't feel a need to spend more.

PasturesNew

My "rule of thumb" figures for the back of a fag packet would be:
£400 rent
£80 council tax
£150 basic household bills (gas, water, electricity, TV licence, contents Ins, broadband, landline, mobile)
£100 food
£150 total car cost (including replacement, so that might be saving for the next one or paying a loan)
£25 Xmas, family birthday presents
£15 hair cuts (and colouring as I am a girl)
£20 technology (PC upgrades, replacements, repairs, software), but I work online so need this
£30 Denplan (I've never managed to find an NHS dentist where I've lived)
£10 Clothes, shoes for work and leisure
£20 Bits, bobs, the unexpected.
====
£1000

So my "rule of thumb" figure is always: "It costs the first £1000/month to live" is always pretty close.

sebdevine123

Thanks guys for all the help and advise, definatly feel more confident about the future, im just new to all these new bills in life, but thanks alot.

jonewer

PasturesNew wrote: »

For a couple, with one earning £20k and the other one working too, you'd be quite loaded, to be honest.

Depends on where you live. If you live in the south east and commute into London, two people can quite easily pay £600 a month just getting to work.

If you live and work in London, you'd probably be spending most of a £20k salary just to rent a 1 bed flat in a decent area.

jonewer

sebdevine123 wrote: »

Thanks guys for all the help and advise, definatly feel more confident about the future, im just new to all these new bills in life, but thanks alot.

Dont sweat it. Just make sure you arms are shorter than your pockets are long.

sebdevine123

Me and my girl are in scotland, living in city already, so there wont be major comute costs, just a 37 pound a month bus pass lool

And when we earn more a car will be added to the bills, but wont have to forkout on comute costs if we live in city already