Can I live alone if I only make 9k/annum? [North East]

MandM90

I think you're in a very good position at the moment OP

- You're happier living with family than strangers

- The rent is super low

- You're helping your dad out a bit with money


I would stay put and stash 'living costs' away towards buying a place in the future, or travelling, or retraining, or whatever!

Monthly your take home is about £950 currently (if you assume £12k pa after overtime)

I would head over to Old Style and figure out how to reduce your food budget. Mine is the same of yours for 2 adults and one child including cat food, litter, wine, cleaning products and toiletries :eek:

If you could get groceries down to £100 that means your essential expenditures are only £238 (rent + bus + food).

Have you ever budgeted properly to see where the rest goes? I recommend tracking it for three months using You Need a Budget (available online) and seeing what you really have leftover. As a young person you could save £500 a month and still have £212 a month for having fun. This would set you up in a better position for moving out, especially if you manage to up your income along the way.

You have an amazing opportunity to get ahead financially!

Thorson

I have moved back home to save for a deposit with my oh and I know I am very lucky but also understand it's difficult at times - especially as it had been 6 years since I had been living at home with my parents.

I'm not going to lie there are time they drive me crazy but I know that I am in such a lucky place right now, yes I am giving up my own space temporarily but the bigger picture is more money for me to put to way as a deposit.

What I am trying to say is before your move out save save save because when you move out it will be harder and harder to save especially when the price of things start increasing.

Realistically you will need to have savings for your deposit etc and you need to think of all the things you need when you live alone (plates, cutlery, bed, duvets etc etc).

Plus you don't want to move out and not have any money to do anything else (be it a pint in the pub or a cheap weekend away) otherwise you will wonder why you did it in the beginning!