How much do you have after bills etc?

TriggerCut92

Hi,

Just wondering how much you live on after Mortgage, bills etc?

Just looking for some opinions. Reason being I have some property and have been thinking about stopping my job for a while and just focusing on being a landlord.

I really don't like my job. I work in IT

Although It would effectively half my monthly income. Plus everyone I speak to seems to be very negative about the idea. All saying "You should keep your job" and "What's the point?"

Just looking to find out what people live on? Are you comfortable etc

Thanks for any help

eskbanker

Seems an odd question, only you know what your outgoings and standard of living are - perhaps the best thing to do is to assess how much of your current income remains at the end of the month, after all normal expenditure. If it's half of your income then you should be OK, if it's less than half then obviously you'd have to cut back somewhere....

EssexExile

I agree with eskbanker, only you know how much you need to live on so other peoples numbers won't help.

However I left a job I hated & took a 30% cut in pay to go to one I'd enjoy. It was the best thing I ever did, but I could afford it, I may have seen it differently if money had been tight at the time.

TriggerCut92

I should maybe say. After bills (Mortgages, gas, electricity, council tax, factors costs) I'd have about £1200

A lot of people will say of course that's fine. But just looking to get an opinion really and if people think that's enough. I need to stop spending so much on stupid stuff, but if I only have one source of income it will force me to.

freezspirit

You say £1200 per month it that whilst working or after you give up your IT job?

Archi_Bald

£1,200 might be ok / too much / too little for you - only you can know how much money you need, as has already been pointed out twice.

It is irrelevant how much would be ok / too much / too little for anyone else.

nearlyretired2004

Not sure I quite agree with the above - I was asking (myself) similar questions to the OP when I finally decided to (nearly) retire at age 49.

Maybe a more relevant question for yourself (...b u g g e r ... maybe repeating what others have said...) is not how much do you currently spend, but if you left your job and were therefore much happier -how much would you NEED to live on. While working I spent everything I earned ...but paring it back to what I needed to spend enabled me to make the jump....

Slightly different in that I had payoff from work and a small inheritance at the time to fall back on if i needed it but it worked for me .....been 11 years now!!

eskbanker

TriggerCut92 wrote: »

I should maybe say. After bills (Mortgages, gas, electricity, council tax, factors costs) I'd have about £1200

A lot of people will say of course that's fine. But just looking to get an opinion really and if people think that's enough.

You'll need £1,035.24. Or was it £641.85? No, £2,719.04, that was it!

What sort of length would you say this is....

Pay_me

No one can answer your question as we don't know your lifestyle. However, there are thousands of people in this country earning around £1200 per month before bills and surviving so it must be possible.

Ben8282

However much you have it will never be enough.
Unless there is an overwhelming reason to give up the job, I would normally recommend against it for many reasons quite apart from the financial ones.

Feral_Moon

JSA is approx £75 a week and therefore anything above this amount is a viable income, according to the government. However, your lifestyle may dictate otherwise. Only you can answer the question.

For example, when I go out for dinner I may spend that amount on a single bottle of wine. But I can afford to do that. Can you? And would you be happy to forgo life's little luxuries if you gave up work?