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Moving out and hope I can afford it all

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loey93
loey93 Posts: 62 Forumite
in House buying, renting & selling
Hi Everyone :)

I currently live with my Mum and Brother, however I have just put my application in to rent a property with my boyfriend. Although I am sooooo excited to finally be moving in together.. I am also really nervous that I am going to struggle and I can imagine it is going to be such a shock to the system as I only pay £120.00 a month board at the minute.

Below is a brief S.O.A that I have put together for when I move out (I have mainly guessed the household bills as I am unsure at this moment of time) (Please also note we are splitting the rent and bills exactly 50/50 and keeping finances separate, so this is what I earn and will be paying)

Any advise welcome on how I can change my SOA in anyway,

Salary (After Tax): £1718.00

Household Bills
Rent: £400.00
Council Tax: £60.00
Gas & Electric: £40.00
Water: £15.00
Content Insurance: £5.00
TV Licence: £10.00
Internet: £20.00
Groceries/Dog Food: £200.00

Other Bills
Car PCP: £285.00
Car Insurance: £90.00
Phone Contract: £45.00
Barclaycard (0%): £40.00
Ikano (0%): £55.00
Itunes: £10.00
Gym: £20.00
Monthly Fuel: £100.00

Other
Saving: £200.00
Clothing: £100.00
Fun/Entertainment: £100.00
Aiming to pay debts & save! :T
«134567

Comments

  • BrassicWoman
    BrassicWoman Posts: 3,202 Forumite
    First Anniversary Name Dropper First Post Mortgage-free Glee!
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    Dog insurance would be sensible....
    2021 GC £1365.71/ £2400
  • TamsinC
    TamsinC Posts: 625 Forumite
    edited 23 April 2018 at 1:39PM
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    Dog insurance is a sensible requirement - you could do with liability insurance - as you are responsible for any damage etc your dog does.

    I would bin the iTunes payment and use free Spotify. Bin the gym membership and go for a run or a walk etc. £100 a month, every month, for clothing is a lot - try to take that down. I spend about £250 a year.

    It is very good that you are regularly saving.
    “Isn't this enough? Just this world? Just this beautiful, complex
    Wonderfully unfathomable, natural world” Tim Minchin
  • Katapolt
    Katapolt Posts: 291 Forumite
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    TamsinC wrote: »
    Dog insurance is a legal requirement - you need liability insurance.

    Since when? This is not backed up by anything ive found online, or anything colleagues in the pet insurance industry have said.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    TamsinC wrote: »
    Dog insurance is a legal requirement - you need liability insurance.
    Think you've got this mixed up with something else.
  • quantumlobster
    quantumlobster Posts: 509 Forumite
    Combo Breaker First Anniversary
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    TamsinC wrote: »
    Dog insurance is a legal requirement - you need liability insurance.
    I quite agree that dog insurance is a very, very sensible thing to have (wouldn't dream of not having it for ours), but I don't think it's a legal requirement .

    That said, one should be mindful that one is legally liable for the actions of one's pooch(es).

    I would echo the comments re: clothing, gym, iTunes, etc. Easy to reduce outgoings there.
  • SCDH
    SCDH Posts: 12 Forumite
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    In regards to Fun/Entertainment, you can look for cheap vouchers on Groupon or itison - they're great and you can save a lot of money! I also agree with getting rid of iTunes - you can use YouTube or Spotify instead if you don't mind the adverts. I personally couldn't give up my gym membership - going for a walk or a run outside doesn't appeal to me at all. If you are going to your gym daily then it's not money going to waste.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    Car insurance seems on the high side - that might just be because of age / lack of driving experience, but check the other advice on this site for how to try cutting it. Also bear in mind that moving to a new address might affect the premium.
  • TamsinC
    TamsinC Posts: 625 Forumite
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    Katapolt wrote: »
    Since when? This is not backed up by anything ive found online, or anything colleagues in the pet insurance industry have said.

    my bad - it was definitely talked about and I had assumed it came in - it was to do just with liability insurance in case your dog caused an accident - it obviously didn't become law - but it is still very worthwhile having. Apologies for not checking my information.
    “Isn't this enough? Just this world? Just this beautiful, complex
    Wonderfully unfathomable, natural world” Tim Minchin
  • Candyapple
    Candyapple Posts: 3,384 Forumite
    First Post First Anniversary Combo Breaker Intrepid Forum Explorer
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    Landline?
    Satellite/Cable TV?
    Road tax?
    Car maintenance (including MOT)?
    Pet insurance/vet bills?
    Presents (birthday, Christmas etc)?
    Haircuts?
    Holiday?
    Emergency fund?


    Barclaycard (0%): £40.00
    Ikano (0%): £55.00

    How much do you owe on these in total?
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • loey93
    loey93 Posts: 62 Forumite
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    Thanks everyone for your replies.

    My mum is paying for pet insurance so she is insured, however she is technically my dog (as I walk, feed her etc etc) so she will be coming with me when I move out and I will be paying the insurance then. I think its around £6 a month.

    Candyapple, please see below my responses :)
    Landline? I wouldn't use a landline, do I still need this?
    Satellite/Cable TV? Again we wouldn't use this
    Road tax? It's £30.00 a year so I just pay this yearly

    Car maintenance (including MOT)? All servicing etc included in the PCP package
    Pet insurance/vet bills? Yes I've just realised I will be taking over the cost of pet insurance which is around £6 a month
    Presents (birthday, Christmas etc)? My savings will be used for any birthdays, xmas etc
    Haircuts? I rarely get my haircut maybe twice a year
    Holiday? This will come out of savings
    Emergency fund? No emergency fund at the minute but again this will come under savings


    Barclaycard (0%): £40.00 - Approx £1500.00 (interest free for 35 months)
    Ikano (0%): £55.00 - Approx £1100 (interest free until the end - May 2020 (i think), it was for a sofa a couple of years ago from Harveys)

    Thanks again everyone :)
    Aiming to pay debts & save! :T
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