Will I survive on this budget?

thewinkshow

Single guy. £1150 per month bring home. Looking to rent for £425 per month . Council tax is £674 per annum which I am paying up front.
Own my own car outright, 1.5dci megane, 30 quid a year tax, fill tank of desiel once every 2 months, coats around 70 quid.

If I budget for £750 all in, this leaves me with £400 per month free- is this enough and doable?

What should I budget for gas water elec? Would it be possible to pay these up for the year now whilst i have a chunk of money? How would this work? Would they estimate my yearly useage then keep using money off my lump sum until it's gone .

Anything I have missed? Is it possible to do it all on £750 per month ?

womble12345

Tv license? BT line? Braodband? Mobilephone bill?

evoke

Clothes? Food? Furniture? Holidays? Repairs? LOL.

tizerbelle

car repairs? replacement tyres? MOT? car insurance? breakdown cover? social life? contents insurance? freeview or cable tv? savings/rainy day fund? pension? what's sick pay like where you work - do you need to get a personal sickness/accident policy just in case something should happen to you and employer only gives SSP so you can still meet your bills?

Im_Nanny_Ogg

What is the £400 free covering? I'm not sure how you arrived at the £750.

If it's just for food and clothing etc, I reckon it's possible for a person alone, yes.

poppysarah

thewinkshow wrote: »

Council tax is £674 per annum which I am paying up front.?

Why?

It sounds like a mistake if you're going to be skint.

PasturesNew

I've lived on less frequently. No, wait, I've survived on less, without a social life. On the other hand, if that's all you can earn and if that's the cheapest place to rent then you've no choice.

My rule of thumb is "rent + £200/month" is what's needed to pay the basic utilities/TV license/broadband/phone line. Rest is yours. So that's £625. I'd feel rich if I had £1150 coming in and only £625 going out, but the length of your commute makes a difference. I am currently seeing rents of £500-550 for a 1-bed flat and I bring in under £1000.... but I am happy not having a social life etc, it's worth it just to have my own space.

CLAPTON

thewinkshow wrote: »

Single guy. £1150 per month bring home. Looking to rent for £425 per month . Council tax is £674 per annum which I am paying up front.
Own my own car outright, 1.5dci megane, 30 quid a year tax, fill tank of desiel once every 2 months, coats around 70 quid.

If I budget for £750 all in, this leaves me with £400 per month free- is this enough and doable?

What should I budget for gas water elec? Would it be possible to pay these up for the year now whilst i have a chunk of money? How would this work? Would they estimate my yearly useage then keep using money off my lump sum until it's gone .

Anything I have missed? Is it possible to do it all on £750 per month ?

try doing a proper budget ..something like this
http://www.makesenseofcards.com/soacalc.html


also be very very careful about saying you are paying upfront for yearly bills ..as in 12 months time you will need to pay again so is ESSENTIAL that you save up each month for these yearly bills so that when they come in you have the money available
so you don't have 400 per month free as you will be saving some of it to pay next years council tax, car repairs, insurance, holidays etc

de1amo

why dont you do a statement of affairs on this site--you dont have to publish it!

Brallaqueen

Yes it is doable - your car costs less than my service charge per month but everything else is roughly similar.
Your social life won't be limited unless you regularly spend £50+ on a night out. Say, £10 drinks, £10 taxi home, £5 entry fee to a club? Seems reasonable?
Or have cheap nights in around yours - takeaway and bring a bottle works out cheaply too.

PasturesNew

Brallaqueen wrote: »

Say, £10 drinks, £10 taxi home, £5 entry fee to a club? Seems reasonable?

That sounds reasonable until you try to do it. People 'beat you up' about buying your own drinks/not being involved in rounds. There are few places you can get to for only £10 in a taxi at the end of a night out. I bet many clubs cost more than £5 to get in.

I'd go for: £5 on drinks, alienate everybody by INSISTING on buying my own drinks/not being in rounds, leave prompt to catch the last bus home for £3 before the pub even closes, don't go to the club.