first home for 21 year old son HELP

escortg3

I am after some help as i think i am missing something.

My son had just applied for a new flat. We are trying to work out the average costs for a little flat, but we may need you good peoples help

Now the rent is £70 per week plus 5% surcharge. Which i get to £73.50

Council Tax is £1006.00 per year

Water is unknown

electricity is unknown but water is being heated by solar panels on the roof included in rent.

No Gas

Contents insurance have had a quote for £45.00 per year
Tv licence is £144 yearly

Mobile phone contract is £45 per month needed for work.

He takes home £250.00 per week can he afford it or do you guys think it will be to tight

How much would people estimate for electric, water food etc. He wants to make sure he can afford it on his weekly wage before he signs his life away.

Please Help.

rising_from_the_ashes

Is the CT amount after the single person's discount?

Personally, I'd work all the figures out weekly as that's how he's paid and it will be easier to see exactly what he's got left.

Elec - does this heat the water if there's not enough sun? Also, really depends on how good he is at switching things off when they're not being used, if he has loads of stuff on (tv, laptop etc) when he's in, how long he is in each day/night. I'd say £5 / week to be on the safe side & that should hopefully allow for the extra amount in winter.

Food - again, if he's sensible & cooks stuff himself etc rather than just buying loads of ready meals then he should be able to manage on £25/week (incl making lunches, cleaning stuff & toiletries) but it does require being quite strict.

Missing? - what about things like a landline & broadband

adelight

It all depends on what he eats, his travel costs, how much electricity he uses etc. Surely you have some idea as presumably you have been paying for him for the last 21 years? Can he not look at his bank statements to get an idea of his personal spending?
But at £250 unless he is desperate to move out or you simply have no room for him, I'd suggest he stays at home and pays you rent (if he doesn't already).

escortg3

adelight wrote: »

It all depends on what he eats, his travel costs, how much electricity he uses etc. Surely you have some idea as presumably you have been paying for him for the last 21 years? Can he not look at his bank statements to get an idea of his personal spending?
But at £250 unless he is desperate to move out or you simply have no room for him, I'd suggest he stays at home and pays you rent (if he doesn't already).

I dont want him to leave but he wants to "man up" :rotfl:so he says and manage on his own.

He currently has only has one outgoing and that is his mobile phone. He manages money well.

He has no travel costs as has a works van picks him up and drops him off.

He will cook from scratch everyday as he gets in before everyone elase so cooks his own or all of us an evening meal.

Do you not think he could manage on £250.00

escortg3

rising_from_the_ashes wrote: »

Is the CT amount after the single person's discount?

Personally, I'd work all the figures out weekly as that's how he's paid and it will be easier to see exactly what he's got left.

Elec - does this heat the water if there's not enough sun? Also, really depends on how good he is at switching things off when they're not being used, if he has loads of stuff on (tv, laptop etc) when he's in, how long he is in each day/night. I'd say £5 / week to be on the safe side & that should hopefully allow for the extra amount in winter.

Food - again, if he's sensible & cooks stuff himself etc rather than just buying loads of ready meals then he should be able to manage on £25/week (incl making lunches, cleaning stuff & toiletries) but it does require being quite strict.

Missing? - what about things like a landline & broadband

He uses internet on his mobile so no intention of getting broadband or landline.

No the council tax doesnt include the single persons discount. forgot about that. thanks.

You can use electric to heat water if there isnt enough.

He is at home most evenings and all weekend

Gillyx

Me, my OH and baby live in a rented 1 bed flat, it is one reception room too (kitchen & living combined) and the bathroom, we are ground floor.

Our costs are:

Rent - £475 pcm (including rates/council tax, we're in N.I)
Electric - £50 pm (we have dish washer, washing machine & tumble drier, and an electric cooker)
Gas - £40 pm average, less in summer, more in winter.
Virgin Tv/Internet/Landline - £45 pm
Mobile Contracts - £70
Tv Licence - £12 (although when you first start you have to pay the year in 6 month so it's £24 a month)
Food - £200 pm ( we do eat quite well though, meat every night and house is always full of snacks, fruit etc)
Contents Insurance - £12 pm

Does he run a car at all as that would need to be factored in. All in we have about £1250 coming in a month. We're not skint, but we don't have loads of money for luxuries, although we do save a little bit every month. We do have to be strict with ourselves though 90% of the time.

podperson

As long as he's quite strict he should be fine, I don't earn much more then that a week and my rent is about double (city centre). Obviously it varies with areas but for a two bed flat I pay.
Electric - £70 a month (no gas so this includes heating)
Council Tax - £100 a month (includes single person discount)
(my water is included in my council tax but think it accounts for about £20 a month of it)
Food - could get by on £30 a week so £130 a month including lunches for work
TV licence - on the monthly option is £13 a month but you need to pay double for the first six months (so £26) as they insist you need to be 6 months in advance.
Am assuming he will also broadband and possibly a landline - I pay about £40 a month for a fairly basic package, could probably be done cheaper though as I'm stuck with cable since don't have a BT point.

VfM4meplse

What's the 5% surcharge for? LA's fee?

rising_from_the_ashes

escortg3 wrote: »

INow the rent is £70 per week plus 5% surcharge. Which i get to £73.50

Council Tax is £1006.00 per year £20

Water is unknown say £5 until known

electricity is unknown but water is being heated by solar panels on the roof included in rent say £5 until known .

No Gas

Contents insurance have had a quote for £45.00 per year say £1
Tv licence is £144 yearly £3

Mobile phone contract is £45 per month needed for work. £10.50

Food - say £30 (to be on the safe side)

He takes home £250.00 per week can he afford it or do you guys think it will be to tight

The above come to just under £150 / week so not too bad - but I would agree he needs to look back at his bank statements and see where his money goes now .... does he manage to save anything now?

escortg3

VfM4meplse wrote: »

What's the 5% surcharge for? LA's fee?

Apparently its for the communical areas. stairways and laundry room

escortg3

rising_from_the_ashes wrote: »

The above come to just under £150 / week so not too bad - but I would agree he needs to look back at his bank statements and see where his money goes now .... does he manage to save anything now?

His money does not go anywhere no apart from spending on luxuries because he can afford to. He currently saves £100 per week, which he knows he wouldnt be able to when he moves out