Time to stop sponging and start renting.

nollag2006

Overall_Victory wrote: »

i wonder what the answers would be if i said i earnt say 1100 a month as opposed to 940. i really appreciate the answers though i guess i have to work out what it is that i do want most and aim towards that. i guess im lucky i have a fall back cushion really....

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

- Micawber Principle is particular pertinent here.

You need to learn to live within your means. Is there any possibilty you could take up a weekend job, if you are so anxious to move out from the parentals?

Overall_Victory

deannatrois, hi!

perhaps i would have made a better impression if i put "i would like to" rather than "i want..." lol!

i did say "as you can see, that doesnt include food costs." in my 2nd post. this is a contributing factor to my est 150/month overspend. incidentally, a loan for 24 months of 1500 would mean i would only be 75/month over. i also mentioned that a friend is keen on sharing (somewhere 2 bed obviously!) at some point in the next 6 months. i think even if i lose 75 a month, 6 months of trying to keep my balls in the air (sorry for the phrase) is only gonna lose me 450...i could live with that.

Overall_Victory

mrs z, if i found "somewhere cheaper" i would have to find somewhere at 250/month to break even. imagine the misery of such a place!

i do occasionally do some gambling nollag, ive made £16.55 this week without trying. if i can keep that up then no problem, lol

Beckyy

Wait until your friend is ready to rent and do it together. Save until then.

Unless you want to house share that is the only financially viable answer I can see at the moment.

Whatever you do, keep a 3 month buffer no matter what and do not touch it.

motherofstudents

You wouldn't be paying the service charge as the landlord will be responsible for that. Don't really see how it makes sense to move into somewhere you really can't afford. Try houseshare or be a lodger somewhere for a bit until you have someone to share with ?

Yorkie1

Sorry to be blunt but your plan is absolutely bonkers.

You will not earn enough to cover your costs. You think you'll get a loan to help - but you haven't factored in the loan repayments into your outgoings. You only have an estimate of the other outgoings but assume you'll be able to cover your losses. Your sister's repayment of the £1K will last less than 1 year.

What on earth makes you think you'll pass any credit referencing checks?

Look for a room in a shared house.

jayss

How will you pay for everything else?
Car repairs, clothes, shoes, a night out, xmas/birthdays, haircuts, contents insurance.

If you cant live at home (and I know its hard) look on gumtree/spareroom/easyroomate and see if anyone is looking for a lodger, who is charging an 'all in' rate. Youd be more flexible then than signing up for somewhere for 6months and finding yourself broke after 2.

When youre on a low income its good to have someone to share the bills with.

Also well done on the savings, would be a shame to chuck them away on rent.

Bravehearted_2

Christ, why bother.

Some people come on here having already made a decision & then look for others to validate them.

Not me - you're a nutter pinning her plans on "what ifs". Here's one for you - what happens when your friend welches? Or your sister isn't able to pay up? Or those house warming gifts aren't cash or even nothing (gifts aren't obligatory you know, why they're called gifts).

But by all means please move as you clearly have it figured out.

BitterAndTwisted

You've already got a crippling car-loan and this is compromising your ability to afford what you want. Handing over pay-slips and bank statements as part of the tenant referencing process could show your plan up to be unaffordable. The usual maths is for your rent to be not more than 40% of your net income and that's telling me your upper monthly limit should be £375 a month.

The usual property route for young people leaving home for the first time is to go into a flat or house-share. I suggest you modify your plans.

amiehall

I rented a room for £50 a week all bills included on a very flexible week-by-week basis for a while. Why don't you move in as a lodger somewhere until your friend is good to move if you can't stay at home.