Renting - How much are outgoings each month?

Crashtogether

Hi

Am about to start renting for the first time - a 2 bed flat in manchester. I've caluclated the following expenses each month, but have no idea if i've missed anything out or my figures are unrealistic...

Electricity - £22
Water - £22
Council Tax - £90 (single person discount)
Tv Licence - £14
Car Insurance - £18 (this is actually what i'm paying atm)
Food - £80
Contents Insurance - £15
Phone Line - £11
Internet - £10

Any help much appreciated...I feel very much out of my depth with renting!

prudryden

Everything electric - no gas? How about rent?

Crashtogether

Yes everything is running off electricity.

I have not included rent in the above, as I know how much it will be lol

poppysarah

22 a month electric?
It'll be more than that I bet.

andrewmp

Rent 450
Telephone Landline 10.5
Gas/Electric 50
Car Tax 15 (Paid yearly)
Car Insurance 30
Internet 20
Council Tax 54 (including single person discount).
Water 22
TV Licence 12
Food £80
Mobile Phone £12

£755 total for me plus petrol. Actual figures over the last year, gas/electric currently only £35 but it's going up soon. Can't get any of these amounts down at all so this is my bottom line. The is a single person in a three bed house. I guess I could probably spend slightly less on food, sometimes I do.

CLAPTON

I'm assuming this is the first time you have left home ??

If so and you are trying to buy a realistic budget then you need to add everything... not just monthly things but everything you spend over a year and put money aside each month so when the bills arrive you can afford to pay them...

so you have a car but you will need to pay car tax, MOT, servicing/repair bills, if its old you need to add an amount for its repalcement

also add for holidays, xmas expense, birthday presents, clothes
and of course going out, lunches, mobile phone etc
also do you really only spend 80 on food/groceries?

vicallen2004

I rent myself and came across an unexpected expense with the tv license about 8months ago. (Unless the procedure has changed), if it is the first time you have a tv license, the payments will be doubled. The licensing office likes you to pay for your first license in 6 months as opposed to 12. That way, you will be paying for next years license in advance.

Apologies if this is no longer the case but I thought I'd mention it. Of course, the license can be transferred if you pay for it already and you can ignore me!

Good luck!

andrewmp

poppysarah wrote: »

22 a month electric?
It'll be more than that I bet.

For sure, a minimum of £20 per month currently for appliances, more for heating.

andrewmp

vicallen2004 wrote: »

I rent myself and came across an unexpected expense with the tv license about 8months ago. (Unless the procedure has changed), if it is the first time you have a tv license, the payments will be doubled. The licensing office likes you to pay for your first license in 6 months as opposed to 12. That way, you will be paying for next years license in advance.

Apologies if this is no longer the case but I thought I'd mention it. Of course, the license can be transferred if you pay for it already and you can ignore me!

Good luck!

That is only if you pay monthly. I pay quarterly and didn't have to pay in advance.

lisal0u

Hi,

I have a 2 bed flat all electric with storage heaters on economy 7 and I pay £75/month!

You should download the budget planner http://www.moneysavingexpert.com/banking/Budget-planning

I find this very useful!

Kind regards
Lisa

LillyJ

Yes £22 is too little for electric if it is electric for heating too.

We pay £28 for our house (it is 3 bed but we are very frugal with electric) but our cooking and heating is gas and we pay another £34 for that.

That really is the minimum we could get it to and we rarely have the heating on cos I am a hot person!

If you have electric heating it is likely to cost more as it is usually less efficient than gas central heating.

Also, is it a new build flat? If so it will have a water meter, if not then it is likely not to, therefore you can ring the water board and ask them how much per month it will be. Ours is about £45 I think but we have an outdoor tap.