19yr old single male on £14K

dmg24

hotblu wrote: »

"I'm married with 2 kids, household income £24k less tax."

Does this include or exclude money from benefits?
If it includes... your geting help.
If you exclude... explains how your managing.

That is irrelevant though - if Conor can manage on an income of £24K (irrespective of where that income is from) for four people, then surely you can manage on an income of £17K for one person?

briona

hotblu wrote: »

"I'm married with 2 kids, household income £24k less tax."

Does this include or exclude money from benefits?
If it includes... your geting help.
If you exclude... explains how your managing.

24K after tax is around 1520pm (for 2008/09) so minus the figures given (mortgage, cars, savings etc) and with good money management, that is easily do-able.

That said, I have friends on 13 or 14K who rent privately (one even has a flat to herself), run cars, have holidays, pay money into savings accounts etc and manage perfectly well (and in the case of the girl renting on her own, have absolutely no debts).

Rather than looking for handouts people's first port of call should be looking at their own outgoings. As others have said, you are not obliged to get on the property ladder and saddle yourself with a huge mortgage, and neither are you obliged to pay for a car on finance (I'm assuming that's what your 150pm is – apologies if I'm wrong). Personally I have CHOSEN to stay off the property ladder (despite being almost 31 years old) because I know with other commitments I have that it would be a struggle, and I have no wish to put myself in that situation... unless of course people are handing out benefits to help out single-people-with-no-kids-earning-reasonable-salaries like me! :rolleyes:

If you ARE struggling perhaps you should look at means of upping your income (there are plenty of ideas on the up your income board), or getting a higher paid job or, at the very least, considering the Government's Rent a Room scheme – http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804

Briona

kosma1

i am currently on 15k, have a mortgage, sole name, for most of my time, i have paid mortgage and all bills by myself, i do now have my boyfriend live with me, so he does chip in, but i still pay most the bills as it is my house. (that will change if we decide to buy together)

for the 19 year old on 14k, consider shared accom. will be cheaper, but well done on having a job to pay so well at 19, good luck with getting own place (but i dont think there are other benefits you can claim)

to the 23 year old on 17k and have a mortgage, yes, it can get tight, but you are doing great, 2 jobs is your choice to keep a standard of living you want which for you, is your house an car, if you had a 2nd bedroom perhaps you could rent that to a friend? could be a help in some extra income? be proud that you have something to show for your hard work

and to all others who manage to budget, brilliant job, everything is so expensive these days, but you just have to get your head round it and find ways to either make more or cut back.

Conor_3

hotblu wrote: »

"I'm married with 2 kids, household income £24k less tax."

Does this include or exclude money from benefits?
If it includes... your geting help.
If you exclude... explains how your managing.

Total income including CTC and WTC.

I manage because I don't blow £40 a week on cigs and £50 on booze on a Saturday night out and we only have take-away food once a week as a treat. I'll admit we don't go for a night out much but then again, we take two holidays a year. Also, the family shop is £80 a week which is easy to do if you're not buying premium range pre-packed stuff. Clothes are bought as required and we don't care about labels. Are we skinflints? Far from it. Got a PC (2 years old now but a gaming spec one) , 2 laptops, a 360, a PS3 and a Wii, 32" LG LCD TV and Sky, mobile on contract, "3" mobile on contract.

I'm completely anal and do a monthly household expenses spreadsheet. It costs us £1320 a month to run the house including paying for Sky/internet/phones etc. So basically there's around £200 a month left over to spend on any unexpected stuff, fripperies or simply save.

It's easy to make your money go further. RAC membership and one of the holidays is paid for with Tesco Clubcard vouchers. Holiday spending money is c/o the wifes' catalogue commission. Got my savings in a high interest ISA, my current account is a high interest one and I use a cashback credit card so I'm maximising the interest I get a month on my income. Car repairs and servicing I do myself for the most part and I'll have a go at fixing pretty much anything. ( Did you know that that ballcock in the toilet you've just paid £60 to have fixed costs a whopping £2.50 and only needs two nuts undoing?) Tomorrow I'm getting a new timer/thermostat for the central heating as mine is about 20 years old and a bit paggerred and I'll fit it myself - it's only 3 wires and four screws holding it to the wall. That'll save me £50+ on labour for a bloke to come in, undo 7 screws, unpack the new thermostat/timer and tighten up 7 screws which I'm quite sure anyone is capable of doing (and yes, its legal for me to do under the new IEEE regs as it's a direct replacement). The trouble is that people are inherently lazy and would rather pay a man to do something like this because it's easier than exercising your brain a little bit and working it out for yourself. Anyone can change a light switch or a tap or a ballcock.

Here's another one. I got a free upgrade from "3" for my contract mobile a fortnight ago. Nothing wrong with my old phone so my free upgrade went straight on Ebay which earned me £100 and covers the rental for my mobile for 6 months so my mobile is effectively free for half the year.

It's things like that. The only problem is that being young and with no responsibilities, you have a different perception of what's classed as necessary.

But the main thing is I have no debts apart from the mortgage and if I can't afford it, I don't buy it - something that seems to be completely alien to a lot of people.

My sis-in-law OTOH is completely different. Single mum, 3 kids (2 disabled) with an income of around £27k but free housing, no council tax and car on mobility which costs only the diesel she uses. She blows money on all kinds of rubbish, smokes £40 a week and has take-aways most days. Permanently skint. did a budget with her and she has £250 a week that she doesn't know what she spends it on.

allen35

Hi Connor

Just like to say i know this remark is nothing about benefits but FANTASTIC!!
IMO you epitomise what we all strive for, congratulations mate and come and stay in my house for three months please, we probably live like the Sis-in-law but with your planning, this time next year we could be zeroaires which at present would be a huge success.

P.S Enjoy your next holiday you deserve it..

Conor_3

tis easy...start out making out a spreadsheet with what you spend on one side and your income on the other and then you know where you are.

mitchaa

Conor wrote: »

Total income including CTC and WTC.

I manage because I don't blow £40 a week on cigs and £50 on booze on a Saturday night out and we only have take-away food once a week as a treat. I'll admit we don't go for a night out much but then again, we take two holidays a year. Also, the family shop is £80 a week which is easy to do if you're not buying premium range pre-packed stuff. Clothes are bought as required and we don't care about labels. Are we skinflints? Far from it. Got a PC (2 years old now but a gaming spec one) , 2 laptops, a 360, a PS3 and a Wii, 32" LG LCD TV and Sky, mobile on contract, "3" mobile on contract.

I'm completely anal and do a monthly household expenses spreadsheet. It costs us £1320 a month to run the house including paying for Sky/internet/phones etc. So basically there's around £200 a month left over to spend on any unexpected stuff, fripperies or simply save.

It's easy to make your money go further. RAC membership and one of the holidays is paid for with Tesco Clubcard vouchers. Holiday spending money is c/o the wifes' catalogue commission. Got my savings in a high interest ISA, my current account is a high interest one and I use a cashback credit card so I'm maximising the interest I get a month on my income. Car repairs and servicing I do myself for the most part and I'll have a go at fixing pretty much anything. ( Did you know that that ballcock in the toilet you've just paid £60 to have fixed costs a whopping £2.50 and only needs two nuts undoing?) Tomorrow I'm getting a new timer/thermostat for the central heating as mine is about 20 years old and a bit paggerred and I'll fit it myself - it's only 3 wires and four screws holding it to the wall. That'll save me £50+ on labour for a bloke to come in, undo 7 screws, unpack the new thermostat/timer and tighten up 7 screws which I'm quite sure anyone is capable of doing (and yes, its legal for me to do under the new IEEE regs as it's a direct replacement). The trouble is that people are inherently lazy and would rather pay a man to do something like this because it's easier than exercising your brain a little bit and working it out for yourself. Anyone can change a light switch or a tap or a ballcock.

Here's another one. I got a free upgrade from "3" for my contract mobile a fortnight ago. Nothing wrong with my old phone so my free upgrade went straight on Ebay which earned me £100 and covers the rental for my mobile for 6 months so my mobile is effectively free for half the year.

It's things like that. The only problem is that being young and with no responsibilities, you have a different perception of what's classed as necessary.

But the main thing is I have no debts apart from the mortgage and if I can't afford it, I don't buy it - something that seems to be completely alien to a lot of people.

My sis-in-law OTOH is completely different. Single mum, 3 kids (2 disabled) with an income of around £27k but free housing, no council tax and car on mobility which costs only the diesel she uses. She blows money on all kinds of rubbish, smokes £40 a week and has take-aways most days. Permanently skint. did a budget with her and she has £250 a week that she doesn't know what she spends it on.

Good post, but may i ask how your sister in law has such a high income and how she manages to still get free housing and council tax with a £27k income coming in?

calleyw

mitchaa wrote: »

Good post, but may i ask how your sister in law has such a high income and how she manages to still get free housing and council tax with a £27k income coming in?

I suspect the 27K is made up of benefits and maybe includes the housing benefit and CT benefit.

Anyone remember the woman from wife swap they where getting something like £35K in benefits and that was her and husband and 4 children.

Yours


Calley

C_Ronaldo

hotblu wrote: »

Hey Folks,

I dont usually like to put my 2 pence worth in but here goes...
Im 23, single, salary 17k (2 jobs @ 50 hrs p/wk) and I struggle like hell.
My mortgage is £550.00 per month and my car cost's a total of £150.00 per month, so if you think about the rest of my bills/living costs I barely manage.
So, basically what I am saying is if you dont know someone's circ's you shouldn't judge- and let's face it, it's got to be better than "knocking out kids" and claiming benefits.

Hotblu

I could manage on 17k, what do you spend on your car to make it £150 a month

pollyanna24

Hello! Original poster here!:rotfl:

Erm, thanks for all your comments (I think). I do think people are judging a little too soon. You don't even know where we are for a start. Maybe it's easier up the country, but not down in the South East.

But anyways, it was just a question as I saw somewhere that he might be entitled to something if he earned under £16K. I think there are enough spongers in the world, so if he was entitled to something, he might as well claim it.

He is looking to rent a studio flat which the cheapest of which is £550 around here. I've told him he will be better off in shared accommodation as there are ones around here for £300 at the lowest with bill included, but it's falling on deaf ears. He's not a very sociable person and for his own reasons, he doesn't want to share a bathroom or kitchen.

I think he will find it tough, but it is up to him. He's young, and has never lived by himself before, so think he deserves a little bit of a break! I've done my bit though, he's lived with us for 18 months and I'm pregnant, so I need a break from him!