Can I live of £15,000 a year?

fridaymorning_2

Hello all, this is my first post so forgive me I have posted this in the wrong section.

I'd like very much to hear some ones opinions who understands the joys of life. I have just finished university (at the tender age of 30!) and will be starting work very soon.
I'm starting to panic that I simply will not be able to progress in life any more. At best I will earn £15,000 a year, I'm self employed and live alone. Unfortunately I live in a lovely part of the country and so rental prices are around £400 a month without bills and council tax. I've just worked out that at best I would have between £3,500 and £2,500 left after all expenses have been taken into account for.

I as I say I am a single person as such and do not want to share a room in someone elses house and such. I'd like to think that after 30 years of work I have reached a point were I can live in peace, however am fear that I'll never be able to save enough (due to lack or earnings and high rent) to do anything I wanted to do. I appreciate life is a tough one and its not meant to be easy but I'm very concerned that at best I may be able to afford to rent a caravan (not that theres any thing wrong with that).
I sorted a account out yesterday and although nice he is going to cost a small fortune and he says I cant really apply for any benefits or such.

Any advice would be greatly appreciated

Regards

J

missprice

fridaymorning wrote: »

I sorted a account out yesterday and although nice he is going to cost a small fortune and he says I cant really apply for any benefits or such.

Regards

J

What does this bit mean? Who said you can't apply for benefits and who is going to cost you a small fortune?

£400 a month rent is pretty cheap btw

fridaymorning_2

Hi Missprice - forgive me. I meant as being self employed I went and got a accountant to sort my tax's and such out (i'm no good with that side of things so I figure it be best to pay someone to sort out this for me). I did hope I could apply for tax credits or housing benefits but my account said that I will probably earn to much to apply for these. The part about him costing a small fortune was a reference to what the account predicts it will cost to do my books for the year (£400-700).

I live in the Lake District and at best 400 will get me a studio apartment. I'm just struggling with the idea that at very best I may be able to save around £3000 a year. I fully understand these are first world problems I'm having and I am grateful. I just don't want to spend my life having to live in horrible places as I can't afford no better.

Regards

J

Mojisola

Is your work something that you can do from anywhere?

Have you thought about moving to a cheaper part of the country?

BillJones

fridaymorning wrote: »

Hello all, this is my first post so forgive me I have posted this in the wrong section.

I'd like very much to hear some ones opinions who understands the joys of life. I have just finished university (at the tender age of 30!) and will be starting work very soon.
I'm starting to panic that I simply will not be able to progress in life any more. At best I will earn £15,000 a year

That makes no sense. Even on minimum wage, if you do a 50 hour week you will earn more than that, and if you have graduated from university you can aspire to more than minimum wage.

My cleaner gets more than that...

fridaymorning_2

Hi Mojisola - thanks for the reply. I work in forestry so I can pretty flexible with were I live however I have to be able to get to the work yard so north cumbria is were I must stay. If it doesnt get cheaper than the west coast of cumbria then I truly am doomed

fridaymorning_2

Hi Billjones - thanks for the reply.
Yes I am a graduated from uni, I'm very educated, have spent five years now studying various aspects of my profession, know enough about my chosen field - in theory, and on paper I should be set. however I simply am not. As to what I earn, that is what I earn I am afraid. Forestry is not a industry to make money in - especially as a laborer. Without sounding rude, working 50 hours a week as a laborer is not possible on the long term. I already have problems with my body from grafting. If I was in a office then 50 hours is more realistic.

I'm envious of your cleaners wage haha

SuperHan

Should you be rethinking your career path?

If you are so qualified, there should be a premium for an employer to pay for your qualification, other wise there was no point in going to university.

I don't know much about forestry, but I would imagine any fit and able person could do the grafting, and those with the expertise would be higher up the food chain so to speak.

Have you looked at getting in to a more managerial post? Or is the labouring a step on the ladder which will eventually lead to promotion?

From what you've said here, it seems as though you have wasted time going to University to get a minimum wage job??

Could you cut out the middle man, and instead of being a self employed labourer set up a business yourself?

fridaymorning_2

Hi SuperHan - thanks for the reply.

Without going of subject to much, I do not have the confidence for any managerial roles or such. Despite the body physically objecting to grafting, I actually enjoy it (when its not raining) - it does keep me sane. To be honest all I want is a simply life with a respectable roof over my head.

Am afraid am with you on your statement that university was probably a waste of time - however hindsight is a wonderful thing.

tizerbelle

You say work is in north cumbria and you're thinking of west coast for housing - you can get that rental figure well down depending on your travel needs - bit difficult without knowing whereabouts you're looking but try aspatria, wigton, egremont, maryport, cleator moor - you can easily get under £350 pcm and that includes some 2 bed terraces.

Arwen

fridaymorning wrote: »

Hi SuperHan - thanks for the reply.

Without going of subject to much, I do not have the confidence for any managerial roles or such. Despite the body physically objecting to grafting, I actually enjoy it (when its not raining) - it does keep me sane. To be honest all I want is a simply life with a respectable roof over my head.

Am afraid am with you on your statement that university was probably a waste of time - however hindsight is a wonderful thing.

What did you do before you went to University? There is no way I would go to Uni and then work for £15k a year-well unless it was a graduate job that was a stepping stone. Last time I earned that money, was late 90's/early noughties and I worked in a call centre:eek: