Could you live decently on £14,400 a year?

Morglin

wellynever wrote: »

http://www.bbc.co.uk/news/10537363

Just wondering what people think, this is for a single person, i find this quite high for just one person but i suppose it depends where in the UK you live,

As someone in the support group with a partner this is the exact amount we get a year and that includes rent and council tax plus everything else the list would be too long if i was to add everything, we live ok on that,

As for a working single person on that money what chance to buy their own home marry have children, it just saddens me that in 2014 that £14k seems to be ok or even the norm.

Not in London, it isn't - our rent (HA Millennium project housing) is over £12k a year, which we pay in full, plus CT, of over £1300 pa, so, no we couldn't live on that.....:eek:

Lin

dodger1

MSE_Andrea wrote: »

Hi all, great discussion, we've moved it over to the Marriages, relationships and families board from Discussion Time

Why is that? DT seems the proper place to discuss how much you can live on. A single person not in a relationship isn't going to look at Marriages, relationships and families board

Indie_Kid

Morglin wrote: »

Not in London, it isn't - our rent (HA Millennium project housing) is over £12k a year, which we pay in full, plus CT, of over £1300 pa, so, no we couldn't live on that.....:eek:

Lin

Ouch! Not that surprised though.

Brallaqueen

I earn around 17300 gross in the Midlands. I have a motgaged flat, a HP car and a small amount of savings. A bit more than JRF say is the minimum but yes, doable. My mortgage and utility bills come to 740 leaving me just under 470 for food petrol and nights out. The most expensive thing I have is a relationship so recently feeling the pinch!

bloolagoon

Buttonmoons wrote: »

Well I included the CB and CTC, albeit I'll get some housing benefit, although I'm unsure what yet. That's for 2 people, not a single person.

You should be getting around £9000 basic bursary with the extra weeks allowance dependants and parental learning allowances. Add £3500 CTC and the £1100 CB so around £14,000 excluding housing and council tax. Plus free school meals. From what student nurses tell me you won't pay much of your rent, so bearing in mind tax and NI you will be on considerably more than they said in the OP with a higher disposable income.

Not that I think you don't deserve it as mature nursing students often make excellent nurses, you are in fact working full time and will work and be providing a service for less than you'd get working full time on NMW and will repay once graduated. So I'm not having a pop just saying that I think your comparison that it's about the same as a workers is a bit out on figures or you aren't claiming what you should be.

Ames

dodger1 wrote: »

Why is that? DT seems the proper place to discuss how much you can live on. A single person not in a relationship isn't going to look at Marriages, relationships and families board

My guess is it's going to be in the weekly email.

thorsoak

I do - state pension + private pension + part time work = £13,900 - and I pay tax! The only additional benefit that I receive is the £200 heating allowance. Without my part-time job, I am just above the level for receipt of pension credits - and we paid off our mortgage when OH & I officially "retired". Since losing him, I'm back at work -means I can still afford (just) to run my car and go on holiday.

Buzzybee90

thorsoak wrote: »

I do - state pension + private pension + part time work = £13,900 - and I pay tax! The only additional benefit that I receive is the £200 heating allowance. Without my part-time job, I am just above the level for receipt of pension credits - and we paid off our mortgage when OH & I officially "retired". Since losing him, I'm back at work -means I can still afford (just) to run my car and go on holiday.

Do you still have a mortgage though?

thorsoak

No - as I said, we downsized and paid off mortgage when we officially retired. As we were effectively "gazundered" to the sum of £50,000 in 2208 as we retired/moved, what we had calculated would be our cushion was taken away from the picture. I still pay £152 per month council tax (and that's after 25% sole resident discount). If I still had a mortgage, I would then be entitled to pension credit.

Buzzybee90

thorsoak wrote: »

No - as I said, we downsized and paid off mortgage when we officially retired. As we were effectively "gazundered" to the sum of £50,000 in 2208 as we retired/moved, what we had calculated would be our cushion was taken away from the picture. I still pay £152 per month council tax (and that's after 25% sole resident discount). If I still had a mortgage, I would then be entitled to pension credit.

Sorry I must be blind this evening!!