Average household outgoings

Wacemindu

Hi There,

I know there are threads on here asking similar questions, however the most recent of these I've found was from 2012 and so imagine it's a bit outdated.

My girlfriend and I are hoping to move out soonish and neither of us having lived on our own before I'm just trying to get a rough idea of outgoings, mortgage, water, G+E, council tax etc. So I can work out how much disposable income / savings income we're likely to have.

If anyone wouldn't mind sharing a rough break down of their household that would be appreciated.

Thanks

:beer:

B_G_B

Wacemindu wrote: »

Hi There,

I know there are threads on here asking similar questions, however the most recent of these I've found was from 2012 and so imagine it's a bit outdated.

My girlfriend and I are hoping to move out soonish and neither of us having lived on our own before I'm just trying to get a rough idea of outgoings, mortgage, water, G+E, council tax etc. So I can work out how much disposable income / savings income we're likely to have.

If anyone wouldn't mind sharing a rough break down of their household that would be appreciated.

Thanks

:beer:

How long is a piece of string?

YorkshireBoy

How is knowing my council tax monthly payment amount going to help you?

I don't make a mortgage payment, but if I did, how would knowing how much it was help you?

How many people in your parents household now? What are their bills? Same question for your girlfriend's parents?

How many units of gas and electricity do both sets of parents consume now? How much of that is used as a direct result of you (and any siblings) living there?

Wacemindu

I'm just after a rough ball park YorkshireBoy, there's no need to be facetious.

Mags_cat

Do you have any idea what sort of property you'll be looking to move into? How many bedrooms? Older or newer construction? Terraced, semi- or detached? Apartment building? Water metered or not?

And then what are your expectations on living conditions? Do you want it heated to a constant 21 degrees or will you get by cooler? Do you bathe every night or use less water in showers? Run lots of appliances that use electricity?

These are the kinds of things you may need to be clearer on - then people in similar situations might chip in with their own rough monthly budgets.

Good luck with the move!

System

I can sing a song of sixpence if it helps

datlex

Wacemindu wrote: »

Hi There,

I know there are threads on here asking similar questions, however the most recent of these I've found was from 2012 and so imagine it's a bit outdated.

My girlfriend and I are hoping to move out soonish and neither of us having lived on our own before I'm just trying to get a rough idea of outgoings, mortgage, water, G+E, council tax etc. So I can work out how much disposable income / savings income we're likely to have.

If anyone wouldn't mind sharing a rough break down of their household that would be appreciated.

Thanks

:beer:

Council tax varies depending on which council you are with. Here a one bedroom flat is band A in some places it is band B. However a quick search on line shows worst case is £175 a month. Most are about £100 a month. But if you check your local council website you will get an accurate figure.

For me I have a water meter. I currently pay £14 a month for that. Unmetered it was £40.

Gas depends on how warm you have your property, how you cook, etc. I pay £29 a month for that.

Electricity again depends on what devices you have I pay £30 for that.

Personally I would budget 350 for bills excluding rent/mortgage. Don't forget you also need to budget for food, household cleaning items say another £300. Also you might want to save up for holidays, general savings, Christmas and birthdays another £300. Coming to a total of £900 (round up to £1000) between you before you look at rent or mortgage! What mortgage could you get on your take home -£500 each?

Cupcake_Returns

How about I say I live in a five bedroom, 3 bathroom, detached house on an acre of land, brand new BMW and a VW sitting in the drive, and my out goings are just £700 a month?

You see no one else can advise you by telling you what their out goings are

What would be better is to look at the area you wish to live and look at the council and water rates for that area. Then look at a mortgage calculator see how that much will cost. Look at insurance comparison sites and see what that's costing, add road tax, doma supermarket shop on my supermarket to see what that comes in at. Add phones and tv packages


No one person on here has the answer for you. We all manage our money differently and we all have different priorities

Sparx

Ok rather than the unhelpful responses, I will give you a vague idea so it's a little more helpful than everyone else.

But we have no idea where you live so the mortgage payments could be much less or more. But they are right your water/gas/electric rates will vary dependant on area and your own usage. Your council tax banding effects the CT payments as well.

Mortgage - £600 (could be lot less or more, depends on house price, your deposit and interest rate)
Council Tax - £130
Gas/Electric - £80
Water - £40
TV License - £12
Internet/TV - £40
Home Insurance - £15

Then you have your everyday bills food, petrol, car finance/insurance/tax, mobile phone, subscriptions, gambling/lottery, any loans/credit cards other debts etc you may have etc...

trailingspouse

I think the important point is that, up to a point, your outgoings are within your control.

You can make sure you rent a place that isn't too expensive. You can be economical with your food shopping (Aldi/Lidl is your friend), you can wear a jumper instead of turning the heating up, you don't have to have the latest tech, you can limit the amount you spend on clothes and going out, you can drive a car that is economical.

So to answer your question - it's impossible to say how much your outgoings will be, but they are within your control. The most important thing is that you and your girlfriend have the same priorities when it comes to your attitudes to money. Talk to each other. As to disposable income - forget that particular luxury for a while!

Thrugelmir

Keep records of where you spend your money currently. Maybe rather enlightening.

By learning to save hard. You'll learn to manage your money better. When it comes to home ownership you'll simply adjust.