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what % of your income is used on a home

lkmc01
Posts: 967 Forumite
I worked out what percentage of our monthly income was used on our home and wondered what everyone elses was. By home I mean rent or mortgage, gas, electric, water and council tax compared to your post-tax income and any benefits.
Mine is
post-tax income for family of 3 = £1543 (1 wage, tax credits and child benefit)
outgoings =
rent = £500
council tax = £110
water = £36
gas = £33
electric = £29
so it is 46% of our income on our home.
Whats yours?
Mine is
post-tax income for family of 3 = £1543 (1 wage, tax credits and child benefit)
outgoings =
rent = £500
council tax = £110
water = £36
gas = £33
electric = £29
so it is 46% of our income on our home.
Whats yours?
0
Comments
-
Mine is post tax income of £1598
Total bills related to house - £ 740 . Therefore 46%0 -
Council Tax 179
Gas and Electric 108
Mortgage 502
Water 30
Internet and phone 50
About 9%0 -
28%
but if I had to pay council tax it would be 60%0 -
I fail to see the relevance of this question and debate.
Describe any home, of a specific type, in a specific area, then (by and large) it is going to cost a certain amount. Expressing that cost as a percentage of income doesn't really say anything. If I lived next door to you, and happen to earn twice as much as you, my percentage would be about 23%. If I earn the same as you and live in a cheaper area, I might say 38%. What meaning would these figures have for you - or anyone else?0
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