How much does it cost to live on your own?

Scarlett1

studentphil wrote:

That is where you are wrong because I have been looking into rents and how much they are. Asking others is the only sort of way I am going to find out the costs of power and water and so.

apart from household bills you also need money for other things like shoes, clothing, new winter coat, money for a sandwich and a drink at lunch time, toiletries, so dont forget to account for these costs in your budget.

Alleycat

This year council tax increased by an average 4.5%, more than twice the level of inflation. The majority of wages did not increase by even close to this, more like 2 to 2.5%. There have already been several interest rate increases this year alone, pushing up mortgage payments which in turn impact on the rental market.

It is incredibly naive to assume that the average salary is keeping up with the rise in living costs as we see more and more 'average' people struggling to meet their payments.

mrcow

piper5 wrote:

i think phil you should go and work away.. holiday parks?? as bars, arcade etc. free accomodation, get to travel earn money and have fun!!
could use the time to save decent money?

Do you mean somewhere without internet access by any chance? :rolleyes:

piper5

hopefully?

studentphil

Alleycat wrote:

This year council tax increased by an average 4.5%, more than twice the level of inflation. The majority of wages did not increase by even close to this, more like 2 to 2.5%. There have already been several interest rate increases this year alone, pushing up mortgage payments which in turn impact on the rental market.

It is incredibly naive to assume that the average salary is keeping up with the rise in living costs as we see more and more 'average' people struggling to meet their payments.

The is true, but in theory if your wage increases by more than RPI then your standard of living should generally improve. I know it does not always work that way as RPI is a poor measure and it ignornes the seperateness of persons differing habits.

studentphil

piper5 wrote:

for what??? three years down the line?? sorry phil im not psycho.. er i mean psychic!!

No, I have been working it on todays rents and what I could earn if I had a job now, it is the best guide I have at the moment.

Alleycat

Theory is all well and good, but in reality it is not often the case. In general pay rises have not increased in line with costs across the board. As fuel prices increase, so does the cost of the things you buy. There have been reductions in places as we buy more cheap goods from the far east etc, but that is not always a good thing. Cheap item that breaks quickly compared to paying more for a quality item that will last years.

As an average earning couple we have seen our 'free' money decrease. You cannot possibly use the amounts people are paying for their services today to estimate your potential costs in a few years time.

Alleycat

I bet you could afford to live in your own place now if you were working. Even as a student you probably could as you would have your student loans to use and getting a part time job would increase your income. People do it, they have to. You cut your cloth to match the fabric. The more you earn the more you can spend.

Edinburghlass_2

Electricty per month, 2 bed cottage two years ago was £65, now gone up to £98 per month. This is every month not just winter months.

I think you'll need to shift a few cupboards and clean beneath them to pay just one bill

Alleycat

Edinburghlass wrote:

Electricty per month, 2 bed cottage two years ago was £65, now gone up to £98 per month. This is every month not just winter months.

I think you'll need to shift a few cupboards and clean beneath them to pay just one bill

Blimey :eek: and I thought our £55 per month bill was harsh!