Single persons budget

I am not long out of uni and am finding it difficult to find any information to advise me how much I should ideally be spendin from my monthly wage on everything but mainly my housing. I would love to consider buying my own place or renting on my own but am unsure of what price range i should be looking at.
I wondered if anyone new of any sites/information out there to help with me setting a monthly budget - i.e. ideal percentages of my monthly income to spend in different areas as a single person with no dependants.

Replies

  • RiqRiq Forumite
    10.4K Posts
    I would definitely be interested in this, but not the buying part. Be prepared for an onslaught on that little point.

    I have been out of uni 3 years almost and still live my parents since moving back home, definitely want to move out ASAP.
    "I'm not from around here, I have my own customs"
    For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!
  • PasturesNewPasturesNew Forumite
    70.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    If you are single and living alone in a studio/1-bed place, then as a ball park figure, assume £250/month for basic bills on top of your rent and you'll be safe.

    This would cover:
    Council tax, electricity, gas, water, telephone landline rental, broadband, basic mobile line rental, contents insurance, TV License.

    Beyond that, you could eat basic foods for £100/month quite easily.

    These figures will give you a comfortable but fairly frugal lifestyle.

    So: Rent + £250 + £100 ... and everything left over is your money for:
    travel to work, holidays, going out, clothes, things, xmas, birthdays, etc
  • RiqRiq Forumite
    10.4K Posts
    Just coming back to this thread. That's good to get something to at least work with.
    "I'm not from around here, I have my own customs"
    For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!
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