Moving to a new flat, how can I save/cut back??

B17c

Hi, sorry if this is in the wrong place, feel free to move it to the correct place board guide admin peeps!

I'm about to start renting again for the first time in years (long story, includes an ex and living with parents again at the age of 35 :eek:)

The flat I'm going for is £925 PCM including the gas bill but no other bills, my budget should look a bit like this:

I earn roughly £1,500 PCM after tax and I'm expecting 6 weeks of overnights at double pay around Xmas time, plus a temporary (10%)pay rise around that time too. I'm hoping to put the extra money aside and pay some of my credit cards off.

Marbles £250
Capital One £2000

(Home contents insurance £100 for the year or £10pm)
(TV licence £147)
(Gas included)

Rent £925
Council tax £105
Water £30
Electricity £40
Internet £40 (£23?)
Oyster £80
Food £50
Capital One £50
Marbles £20
Mobile £35
Contact lenses £18
Misc £50
Waxing £50
Netflix £6

£1,499

£1,746 with everything, including one offs in brackets at the top

Can anyone help me see where I can cut back or save please? I know the waxing is probably the first that should go but it'll be my one luxury (if you can call it that!)

Things I've thought of already:
Taking lunch to work
Getting a free tea or coffee every day with 'My Waitrose' card
turning thermostat down on heating and wearing jumpers/hot water bottles to keep warm
Turn all the lights off
Turn everything off at the plug not left on standby...

Any more advice/tips/suggestions welcome! TIA x

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jk0

You should be able to save quite a lot on gas. None of my properties are £12,000 to heat.

B17c

I'm paying £50 towards gas the rent is £875 without the hot water/heating! X

B17c

Omg I see what you mean now! Lol! That was a thumbs up emoji from my iPhone!! Haha

jk0

Thanks for taking my little joke in good humour. Do you have room for a lodger?

B17c

You offering?! no, it's a one bedroom flat.. It was a conscious decision not to share! Been there, done that, want my own space!

jk0

I see your water bill is quite high. I have a water meter, and have cut mine in half. Is there one at your flat? Would your landlord let you get one? Mine was fitted free by Thames Water.

B17c

I'll find out, I'm just guesstimating at the mo, I asked a couple of friends that are renting relatively nearby what their ave bill was, though I think I fall under Affinity water since I'm under Ealing borough so I don't know if their prices are different??

jk0

FTA: Would the council tax actually be £105 pcm for a single person? I get 25% off as I live alone.

Is there a local beauty college where you could get waxing done for very little? (Haircuts also if you dare. )

katsu

Your food seems really low at £50 for a month. Especially if you want to get lunches etc. Are you sure?

Internet seems high. Look at the articles on the main site for deals.

Do you have to have a TV or can you just watch catchup online?

Look at sim only deals when your phone is out of contact and if not in contact switch now.

I would consider a cheaper flat because it is so much of your income, but that is a personal choice.

Top budget tips on debt free wannabe forum if you want more ideas.

Good luck.

FairyPrincessk

Off the cuff, your food budget looks low to me, particularly if that includes packed lunches.

For cut backs--I'd suggest shopping around for your internet and if you can for your mobile phone--that seems like a very high mobile bill to me. Your electricity shouldn't be that high unless some of your heating or hot water runs off electricity--for last month the electricity for two people, one working from home in our house was around £23, granted that was a summer month with long days but still. If your heating and hot water are electric then I wouldn't pay £50/month on top of rent for it!

Maybe shop around for the waxing? I know people get attached to their 'regular' but you've budgeted the same on that as you have for food...

Your contents insurance also seems a bit high, so try a comparison site for that.

Do you really need a telly? If you've got decent internet with no cap then you can watch many things on catch up and then won't need a licence--might be worth reconsidering that one.