First Time Renter

tellybox

Hi everyone,

I'm looking to move into my first rented flat and was looking for some advice on monthly outgoings/ payments etc. I've seen 1/2 bed flats in my area at between £350 and £375 a month. How much does everyone else spend on energy, groceries, phone/ broadband/ TV, travel etc?

I also have a car, which I need, for which I pay about £150 a month. We have enough money saved for a deposit for when we come to buy something so wouldn't need to save much each month.

I earn £1300 a month after taxes, my fiance is currently working part time after graduation and makes around £670 a month, would this be affordable?

yllop1101

Your income is similar to mine, however I share a flat with my partner, so my half of the rent is £375. Where you may struggle a bit more in the bills, such as Council tax where, even though you get single persons discount, it's still more than splitting a normal tariff between two people.
Looking up Internet deals to see how much they may cost you, as bills are somewhat in your control depending upon whether you shop around, choose to pay for a TV license or subscription etc.
Water and energy bills again are hard to predict but I would say allow £60 in total for gas, electricity and water, but again it will vary.
Maybe do a statement of affairs and see how much money you actually spend each money and will have left for running a house.

Caz3121

tellybox wrote: »

I earn £1300 a month after taxes, would this be affordable?

what current outgoings do you have and how much of your £1300 goes into savings?...this should give you an idea if it is affordable.
e.g. if you currently live rent and bill free and only save £300 a month then you would have to make lifestyle changes to pay the rent bills. If you currently pay £400 in living expenses and save £400 then you will be fine but will likely not be able to put as much into savings each month

Guest101

In theory £750 on food and bills is more than sufficient per month.