Moving out on a low budget

Accountant_Kerry

then that is about right for a 37 hour week, definately claim workign tax credits though, not sure if you would get soem help with rent and council tax or not.

BitterAndTwisted

Yes, depending on your circumstances you could be entitled to a contribution towards your rent by LHA (Local Housing Allowance) via your Local Authority. Of course, if you live with a partner you'll get squat

debrag

Doom_and_Gloom wrote: »

They are getting just over minimum wage. They said that they get £775ish after TAX not before.
As I said they are just over minimum wage and should be getting around £10 or £20 in WTC a week due to a low wage and the fact they are over 25, being as they are 28.

I never said anythign about before tax.

well just 37 hours on £6.25 gives you £1002.08 before tax and should give you £852.08 ish after tax.

using:

http://www.doc-safe.co.uk/servlet/com.scl.horus?id=37&service=calculators&function=payslip

or

http://www.thesalarycalculator.co.uk/hourly.php

or

http://www.digita.com/taxcentral/home/calculators/payslipcalculator/default.asp

I must be missing something completely.

EDIT: Unless you are being paid 4 weekly that should give you £799

Mythical

I actually get paid weekly, but for some reason have always multiplied it by four to make it monthly (I think because most things are paid monthly) i've since learned 4.33 is more accurate. Numbers never were my strong point.

Just a bit of a miserable moment, for anyone who happens to be listening: it's not unreasonable for a graduate with two years of experience to expect to be paid an amount which allows her to live modestly, but independently, with the odd treat here and there, is it??

Reactor_2

Mythical, I'm sorry to say but you along with a lot of other graduates have been misled as to what your degree was going to give you.

I think you will need to be earning at least the average annual salary of £26k, before it becomes reasonable to move out from your parents. At least work out the costs beforehand and if you don't like the numbers you see, then continue living with your parents.

I want to emphasise the importance of living within your means, as constantly worrying about making ends meet with money is definitely not fun. Create the good habit now and you'll be fine as you are less likely to change as you get older.

lyndasharp

Reactor wrote: »

Mythical, I'm sorry to say but you along with a lot of other graduates have been misled as to what your degree was going to give you.

I think you will need to be earning at least the average annual salary of £26k, before it becomes reasonable to move out from your parents. At least work out the costs beforehand and if you don't like the numbers you see, then continue living with your parents.

I want to emphasise the importance of living within your means, as constantly worrying about making ends meet with money is definitely not fun. Create the good habit now and you'll be fine as you are less likely to change as you get older.

I'd have to disagree with that - I was earning similar to the OP when I moved out, first into a shared house and then bought 2 years ago. My bills for a 3 bed house are currently around £200 a month. If you use that amount for all bills, with £350 rent for the OP, then they should still have £100 or so spare each month after food. It just depends how close to budget you are prepared to go, as it doesn't leave a lot for contingency or emergency spends!

ovy_2

Reactor wrote: »

Mythical, I'm sorry to say but you along with a lot of other graduates have been misled as to what your degree was going to give you.

I think you will need to be earning at least the average annual salary of £26k, before it becomes reasonable to move out from your parents. At least work out the costs beforehand and if you don't like the numbers you see, then continue living with your parents.

I want to emphasise the importance of living within your means, as constantly worrying about making ends meet with money is definitely not fun. Create the good habit now and you'll be fine as you are less likely to change as you get older.

I disagree too.
I moved out 1 1/2 years ago, I've managed with no problem on minimum wage, more than half of what you have suggested is needed.
If you budget well you can do it with no problems.

Accountant_Kerry

You can move out, but do ask for a payrise / look for a better job, tbh they seem to be taking advantage of you on that wage, although I appreciate the industry in competitive. My first job on graduating albeit in a finace area paid £23k. (as an example not to rub your nose in it)

Find a nice room ina prfessional shared house, you'll make friends and have soem independance, £300 a month all in shoudl get you something reasonable anywhere except london.

sarahevie

Accountant_Kerry wrote: »

and your wage is bad tbh, you need to be looking for another job if you want to move out.

I think that this comment is both unhelpful and insulting to the OP.

Not everybody (graduates or not) in the current climate have high wages. Many people do manage on the minimum wage.

OP don't let people put you down when you appear to be already feeling fairly low.

Well done for having a job there's many unemployed graduates out there.

As others on the thread have commented you definitely can afford to move out if you are willing to compromise. A shared house on average will cost £300 pcm bills included. Leaving you over £400 a month for food, entertainment expenses.

We manage as a family of four for all household bills including food, petrol, 2 in nappies, for £500 a month. Granted we don't use the car much, walking is cheaper. I cook all my own food. Our three bed house only costs £52 a month in gas and leccy (if you switch things off) it can be done.

Horseygirl_2

I am 26 and live alone in a self contained studio annexe.

I pay £550 a month and this covers my rent and all my utility bills. I found my home in the classified property section of the local paper.

I also have a car loan, car insurance, phone bill and a couple of other expenses which basically leaves me with around £200 a month. I can afford food, petrol and a couple of luxuries a month with this.

Keep your eye on your local paper for properties like this. They are few and far between and well sought after but they can really help you to realise what you can truly afford.

I have been living there for 6 months and am hoping to move in with a friend in the next couple of months, but I know that I can afford £550 to cover my rent and bills straight away and my car loan ends shortly too so things should become a little more affordable for me.

House-sharing is definitely another option to look at. Its generally cheap and if you get in with a good group of people, food bills can be saved too.