Will I survive on this budget?

clockworkboy

Get a flatmate?

Your budget isn't impossibly tight, but it doesn't allow for any mistakes, unexpected bills or repairs needed, and won't let you save a great deal. With a flatmate splitting rent, you'll have an extra £200. Sure, there'll be stresses and you'll have new concerns, but it does make it easier.

LittleMissAspie

Rent 425
C. Tax 56.20 (even if you pay in advance you will still need to save up for next year's)
Gas 20
Electricity 20
Water 20
Landline and internet 30
Mobile phone ??
TV licence ?? (I don't know how much they cost)

Groceries 100

Car insurance 40?? (complete guess)
Car tax and MOT 10
Fuel 35
Maintenance and servicing ??

£750 would be a squeeze but it depends how frugal you want to be with groceries and utilities. And whether you have enough left over depends on what you do in your spare time.

There is no point paying bills in advance though. Just give regular meter readings and pay by direct debit.

mlz1413

do the budget planner available on this website, put everything in that you normally pay (at this moment).

then do another with your expected costs for this flat add in everything even the council tax you intend to pay upfront (so that you can save for next years).

it really depends on your lifestyle how much money you need/want spare every month. I used work full time & 3 evenings a week so my socailising spend was very little as I was happy to stay at home the days I could, but if you are used to going out or want to socialise to meet new friends in a new area you need to make sure you can.

Jowo_2

Download the budget planner on the free tools section of MSE - fill it in realistically, have some contingency for emergencies. Your budget is vague.

Some people are ultra thrifty - can cook cheap fresh meals from fresh ingredients and buy cheap no frills toiletries, they don't go to pubs/clubs/restaurants, cut their own hair, exercise cheaply or for free and spend holidays by going wild camping (for free), they cycle or walk everywhere, get their clothes from charity shops and ebay, get a lot of furniture and belongings on Freecycle.

Others buy processed ready meals, expensive grooming products, eat lots of takeaways and go out socialising a lot, have expensive gym membership, go to trendy hairdressers, take two foreign holidays a year, regularly buy brand new clothes.

Nobody here knows which one you are.

ryan86uk

PasturesNew wrote: »

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.

I don't mean to be rude and can fully appreciate people are under tight budgets. £5 on drinks though? That is barely enough for two pints? Id rather get some cans and stay in.

poppasmurf_bewdley

Please tell me where you can get somewhere to live where Council Tax is only £674!

My council tax costs £105 per month and that's with the 25% single person discount.

Danni-R

I drive/ Drove a 1.6 scenic and the tax was £110 for 6 months.... You might want to check your figures ;-)

TV licence is £13 a month rounded up to the nearest £.

Hope that helps.

eamon

It is doable and is done by millions of people. Have a budget & stick to it. There is no advantage to paying up front unless you have lump sums available and would fritter that money away if left to your own devices. Most services can be paid for via DD it is possible to organise your finances to manage this for you. Think about having 2 bank accounts, 1 for house bills, 1 for other expenses. The day after pay day arrange for a suitable amount to be transfered into the appropriate account.