Can I afford to move out?

lippy1923

How much do you have in savings? Any less than 3-6 months expenditure I would say you cant afford it.

How long do you want to rent for? Need to take this into account if you ever want to buy your own house. Work out how long it would take to save for a deposit when your splashing out rent every month.

You don't mention why you want to move out. Is it because you don't get on with your parents? Or just a want because everyone else is moving out? Personally I would stay with parents as long as possible saving every penny. It's the only chance you get to stash a considerable sum away and still enjoy a life. Once your out, it's a whole different game.

As others have said, you need to disclose more info. Do an SOA and we can help. But if you wont, then I would say at least earning £1500 a month after tax is what your salary should be.

Guest101

It's area dependant.


If rent is £400 then one can survive on £1000 a month.


But that's surviving, not living....

MrJB

Based on my life style, with those numbers I'd want to be earning 22-25kish per annum to live a relatively comfortable life. I lived at home until I was earning £27.5k p.a (and I didn't have the expense of a car!).