How much does it cost to live on your own?

Alleycat

Costs that are pretty much fixed:-

TV Licence - £11.37
Phone line - £11.00 if you pay by DD.

Water - depends on if you have a water meter and where you are in the country so could be anything from around £15 to £30 per month for a single person.

Council Tax - again depends on where you are in the country. Single person would get a 25% discount. Check the bandings on your local council website.

Rent - depends on where in the country, living in house share, bedsit, one/two bed flat etc. Could be inclusive of bills if you are lucky.

Gas and Electric - depends on which company you use and how energy saving you are. Maybe £20 gas, £20 electric?

Internet - we pay £15

Contents insurance - depends on cost of items. We pay £24.12 but in private rented in not so good area with a few high value items.

Food and general groceries - depends on if you are an M&S kinda person or happy with value/Nettos etc stuff. Also if you can cook or will be living on takeaways/ready meals. For a single person easily £100 including toiletries etc. We spend £200 for two adults, one toddler and a cat.

Travel - depends where you work, do you drive/public transport/cycle. We spend £50 per month that includes diesel and bus fares for two adults.

Own spends - we allow £100 each per month.

JoeyG

I think you will find it varies depending on time of year etc

eg. winter months will be more expensive due to heating bills etc, and of course December for obvious reasons.

I've only been living on my own a month and the cost has run into several thousand, mostly due to furnishing and replacing old appliances... if every month turns out this expensive I dont think i will be living on my own very long!

Gingham_Ribbon

My figure doesn't tell you how much we save, overpay on the mortgage or give to charity each month. Nor does it include things you might feel important such as driving lessons or buying new furniture etc. It also includes feeding 3 people and 3 cats, vets bills, insurances you wouldn't require and a decent pension fund.

Alleycat

JoeyG wrote:

I think you will find it varies depending on time of year etc

eg. winter months will be more expensive due to heating bills etc, and of course December for obvious reasons.

I've only been living on my own a month and the cost has run into several thousand, mostly due to furnishing and replacing old appliances... if every month turns out this expensive I dont think i will be living on my own very long!

I'm sure it will settle down! Have a look on freecycle and furniture projects in your area if you are still trying to furnish your new place.

studentphil

Philippa36 wrote:

Hopefully Phil ~ it will cost you a little less than the amount you have coming in every month

Yes, that is true.

Rent alone costs £300-400 a month for even the most basic place.

Alleycat

studentphil wrote:

Yes, that is true.

Rent alone costs £300-400 a month for even the most basic place.

Which area are you looking in? I bet you could find something cheaper. What size property are you looking at?

Saucepot

You could always be someones manwh0re, Phil, and let a rich older lady meet your living expenses. All you have to do is entertain her once or twice a week.

studentphil

Gingham_Ribbon wrote:

My figure doesn't tell you how much we save, overpay on the mortgage or give to charity each month. Nor does it include things you might feel important such as driving lessons or buying new furniture etc. It also includes feeding 3 people and 3 cats, vets bills, insurances you wouldn't require and a decent pension fund.

No that is true, but it does give me an idea of the general figures of how much it costs to live in the real world.

I have no idea really how much things like Utilities are, but they probably are not 1/3 of the cost for three people if you are just one person on your own.

Alleycat

water and council tax are dependent on the property not how many people live in it (apart from the 25% discount on CT). Have a look on the debt free wanabee board as people often post a statement of affairs to enable others to help them reduce their outgoings.

studentphil

It has been most useful thanks!!

I know it will be a good few years before I will ever be able to afford to live on my own, but it has helped me to get a bit of a handle on what I need to think about.