Credit score - Renting alone

MaryNB

Exactly, who knows what might happen. You may lose your job for you may have your hours cut. Your car may fail and you need money for repairs or a replacement.  

Some of your other threads are about saving up for a house and for your children.
Either this is a wind up or you seriously need to reassess your finances. Once again, taking £200 a month out of your savings for basic expenses is a TERRIBLE IDEA!!! You should be aiming to be putting least £200 a month into your savings to begin with. A hell of a lot more if you want to buy a house in your lifetime. 

Bringvaluetome

In November this year, 'savings' will be £10,000. Credit card debt will be down to around £3800
£1100 for deposit
£2500 for everything to move in. Every from kettle to Whitegoods. I would be goingin to a house with nothing. 

Bringvaluetome

MaryNB said:

Exactly, who knows what might happen. You may lose your job for you may have your hours cut. Your car may fail and you need money for repairs or a replacement.  

Some of your other threads are about saving up for a house and for your children.
Either this is a wind up or you seriously need to reassess your finances. Once again, taking £200 a month out of your savings for basic expenses is a TERRIBLE IDEA!!! You should be aiming to be putting least £200 a month into your savings to begin with. A hell of a lot more if you want to buy a house in your lifetime. 

Please ignore previous threads. Circumstances have changed and won't be buying or saving for a house any time soon. I'm only 33 and trying to rebuild my life the best way I can.

Bringvaluetome

Anymore from anyone?

Blue_bell_20

Bringvaluetome said:

In November this year, 'savings' will be £10,000. Credit card debt will be down to around £3800
£1100 for deposit
£2500 for everything to move in. Every from kettle to Whitegoods. I would be goingin to a house with nothing. 

You usually don’t need to buy whitegoods, well I guess some rentals don’t provide them but everywhere I have rented has.

Is there a cheaper house/flat to save some rent? I guess this depends on the area. 

 Also gumtree is great for furniture and could save a lot this way- I got a table and shelf unit very cheap and hardly used. Even got a free new sofa (minus delivery cost) on gumtree because the previous owner just wanted it out the house (very rare occasion), it’s a very comfy sofa. The only thing new I would not compromise on is a mattress.

Bringvaluetome

Do my outgoings predictions sound about right or way off? 

Blue_bell_20

So it’s just the utilities and food your estimating right? It’s all dependent on you, we can’t really compare. I have one friend that worked a lot and used minimal heating, then another friend who kept the heating on all the time. Their bills were not comparable at all. You can get estimates off comparison sites but it will depend on the size of house, if it’s gas or electric, how much you are in using it, how efficient the house is. Also winter vs summer tends to differ quite a bit in monthly cost. 

I would go for a lower rental if possible to not need to use savings for rent/basic outgoings. Keep the savings for emergencies like car breaking down or back up rent if you lost your job or had an accident. It’s good to have back up money for paying a few months rent just incase (personally I made sure I had enough to cover the tenancy term). 

Is the rent and council tax exact figures? Do you have a house in mind? If so you can find out it’s council tax figure- and if you live alone you can possibly get a reduction for living alone (check out the council website for that area). 

Bringvaluetome

Thank you for the replies.
Council Tax is with the 25% discount.
Rent is a rough estimate. So is food, bills and fuel for car.
I understand they may change significantly.

macman

You should be 'saving' your savings in order to clear the residual credit card debt that remains in 4/21 when the IF period runs out. You''ll be paying far more in interest then than your savings can be earning you in a savings account at around 1%. 

Bringvaluetome

Thank you for the replies. The plan is / was to transfer the debt in April 2021 to another 0% interest credit card. Hopefully one that is 20+ months. Then keep paying it monthly.