How to Start an Adult Life?

carlston

Hi, I'm new here, and I apologise if this question has been posted elsewhere already.

I'm just graduating from my university degree, and am about to enter the big wide world. In the past, I've used the excuse "I'm a student, not an adult" to get me out of having to plan for the future, but now I can't use that excuse any more!

I'm going to be moving away for a graduate job I have lined up. I'll be needing to find a house, arrange water, electricity, gas, internet, council tax, doctor's, dentists and move all my contact addresses over.

Is there anything obvious that you can think of, that I'm missing? I've moved away before, but I'm trying to do all of this relatively quickly and on little $$$, so I don't want to be dawdling about spending what I don't have.

Any advice or suggestions are appreciated.
Carlston

I still need to think of a signature

fluffnutter

Are you buying or renting?

BTW, you don't actually need to 'plan for the future' as such. It will happen whether you plan or not, and in some ways, life's a lot easier if you're flexible. However, you obviously need to sort somewhere out to live and deal with the practicalities that brings so it's a worthwhile thing to discuss I guess.

Mrs_Money

Could be a good idea to work out how much you will actually be bringing home each month from your job (well done on getting it, by the way!) and then ask relatives what, averagely, they pay for gas, electricity, water and council tax as fore-warned is fore-armed as the old saying goes. You will use a bit less water than a family or couple but your gas and electricity will be probably only a little less.
Then you will have an idea of what will be left of your salary to buy food, pay for travel, clothes and a social life - that's if you can afford one LOL!

carlston

I'm going to be renting, and I'm trying to find somewhere that's at least part furnished. I often plan too much, so I actively try to just let things happen without planning, but I just get the urge to plan everything.

I've used tax calculators to find how much I'll be bringing home each month, and taken a rough estimate of the bills based upon what I currently pay in my student house (shared with 3 others).

I'm going to be getting a home, and then my partner come and live with me in a few months time, when she can transfer her work base. This means that initially I'm going to be in a relatively expensive place for one person. Due to minimum tenancy periods, it's best for me to find somewhere we can both live, rather than moving in 6 months.

fluffnutter

TBH, you sound like you've got it all worked out already! Fair play to you. You could try asking the previous tenants or LL (once you've found somewhere) what kind of bills to expect as this might vary considerably from the house you've been sharing.

The other thing to perhaps gen up on is your rights as a tenant. Private renting can be a bit of a minefield these days and there are some unscrupulous LLs and agents out there. Off the top of my head, make sure your deposit is secured in a Deposit Protection Scheme, ensure a full itinerary is taken (whilst you're present) before you move in, ensure you're adequately insured and have a TV licence etc.

You'll find more help on the house renting, buying and selling board about renting. I'm no expert.

Spottedleopard

One thing I will advise you to do once your established and settled into a routine and with a stable job is to start saving for a pension- I didn't, and five years down the line i've already lost out!

Its easy enough. If you want to live on your own, thats great- but at first I would consider moving in with some people your own age. Gets you used to the financial responsibility of paying bills but not as much as you would usually pay and its a great excuse to meet some new people.
If you move into an existing share they will already having utilties etc set up and you will just pay your share of the bills. All you need to do to register at a doctors and dentists (I think- I have been with the same for 25 years!) is pop in an fill in an application form- they may ask for a little meeting to speak to you about ongoing medical problems etc in person, they did when my sister moved doctors anyway.

Look on some price comparison sites to get a ROUGH idea on what you could spend each month- then calculate in things like council tax (find a property you like, find what band it is in and you can find the annual council tax) Sky TV/Virgin/BT Vision if you want it, broadband if you want it, food (go to poundland for your household basics like loo roll, kitchen cleaner etc- the majority of food you will want can be brought in ALDI if you have one, we only go to ASDA now for yogurts and diet coke as we hate the ALDI diet coke) travel to work- how are you going to do it? Car- you need to factor in insurance, petrol and parking. Then as I said above I would recommend putting some money into some sort of pension pot (25% of my monthly salary goes towards my pension, really depends what you can afford!) and whatever else you have left is to spend how you want! I save £250 a month for clothes and every six months or so I go for a big spree at the Westfield- again, depends on how you would like to do things.

Don't forget one month you might get whacked with something- a repair bill, car tax etc.

I recommend using this: http://www.thisismoney.co.uk/money/bills/article-1633404/Household-budget-calculator.html

You put in your net salary monthly then input your outgoings and then you can calculate how much money you will have to play with


My outgoings are like this:
Bills: About £400- 2 phones, utilities, Sky TV with entertainment extra sky packages and 2x multiroom, Sky fibre optic broadband
Car: About £300- insurance, petrol, parking permit and a little nestegg of money for if i need it- i.e. car needs alot of repairs or I decide/need to buy another
Pension: 25% of my monthly net income goes straight into a pension pot.
Clothing allowence: £250 a month.

I have about £1500-2000 to play with a month. I'm in Central London.

Piggles12345

Spottedleopard wrote: »

Clothing allowence: £250 a month.

I have about £1500-2000 to play with a month. I'm in Central London.

Clothing Allowance £250 per month? :eek:

That's £3,000 every year on clothes.

I have two concepts that could revolutionise your fashion finances- Primark and charity shops :T

Is that what other people spend on clothes? Is that average/normal? Am I just ridiculously tight with clothes money?

I'm about a £350 per YEAR girl myself.

carlston

Good thoughts, I'd forgotten about any "big spends" such as when things break down, as well as tv licence and any subscriptions.

As I've been a student for ages, spending my money on clothes has not really been an option. Obviously I'll keep some money aside, but the initial thought will be buying work suits and shirts rather than fashion. I maybe spend £25 a month inc any shoes I need to buy. I prefer to spend any money I get on Starbucks

kj*daisy

Why don't you lodge for a bit, cheap and easy and you and your OH can flat hunt together for when you can live together. I always lodged to start with when I moved to a new job and town, then rented somewhere better once I'd settled (and saved up!)

cottonhead

Sit down and work out a budget and stick to it. If you cant afford it then wait and dont start using credit. Thats the mistake I made. It was there so feeling all grown up I took it. I also got fat not having my meals taken care of !! ha ha !

Savvy_Sue

fluffnutter wrote: »

BTW, you don't actually need to 'plan for the future' as such. It will happen whether you plan or not, and in some ways, life's a lot easier if you're flexible. However, you obviously need to sort somewhere out to live and deal with the practicalities that brings so it's a worthwhile thing to discuss I guess.

Have to agree with this, was a bit :rotfl: at the first post: DS1 is 25 and has been away from home for a couple of years, he managed to register with GP when he first left home, but since moving again he has no GP, no dentist, no optician. And he only works 3 days per week, so he can't say he hasn't got time!

Which reminds me I must remind him again ... Doctor, Dentist, Optician!

The advice about starting a pension plan is very sound. If your company offers one, join it!