I was actually looking into this the other day, now I'm finishing uni, moving awaya and starting work (in the real world! lol), and what you've quoted doesnt sound too much for 2 people and a child.
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Richy
Ouch.
I remember when I graduated I was on 16k! That was 1k a month take home.
That was 10 years ago though, so I suspect graduate salaries are higher.
Still though, quite a bit of cash "just to get by" for a single fella.
I already make my own lunches (helps calorie count) but I do spend 2.50 a day on coffee but thats out of my money, not the household budget.
You could figure out how much a year that coffee is costing you and see if you still want it.
I know your right. As I said though, thats from my money, not the household budget. I generally spend my disposable income on nothing of much importance which is a waste. But your right, I should probably look at that at some point.
If i did, I would probably not spend my disposable income as I dont drink much, eat out much!
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Richy
how come? you got a breakdown of that. I might be looking to move out in September and was hoping it would be much less than that.
heres my breakdown; although looking back at it I had petrol and food wrong so its now slightly more......
Taxes etc Per year
NI/Tax/Council = approx 4180
Car Tax/ Insurance = 700
Car maintenance/servicing=400
Loan repayment = 720
Probably best to look at it. I don't know how much of a cut you might be looking at, but all those coffee's can add up some way towards lightening the burden. You also said it is the disposable income which might get hit, so might be good to have an idea what kind of things you will have to cut back on, then weigh up the benefits of new job vs the little things you cut out.
You could spend £2.50 on a big jar of coffee and keep it at work?
NI/Tax/Council = approx 4100
Car Tax/ Insurance = 700
Car maintenance/servicing=400
Loan repayment = 700+
Total taxes = approx 6000
Richy
Ah, see I didn't consider the taxes. What I thought is, that is getting paid off before I see it. NI/tax/student loan all disappears before I see a penny. So I just consider what comes out of my bank, and budget with the take home wage.
Also won't you have a year free before student loan repayments kick in.
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Richy
how come? you got a breakdown of that. I might be looking to move out in September and was hoping it would be much less than that.
heres my breakdown; although looking back at it I had petrol and food wrong so its now slightly more......
Taxes etc Per year
NI/Tax/Council = approx 4100
Car Tax/ Insurance = 700
Car maintenance/servicing=400
Loan repayment = 700+
I was actually looking into this the other day, now I'm finishing uni, moving awaya and starting work (in the real world! lol), and what you've quoted doesnt sound too much for 2 people and a child.
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Richy
Ouch.
I remember when I graduated I was on 16k! That was 1k a month take home.
That was 10 years ago though, so I suspect graduate salaries are higher.
Still though, quite a bit of cash "just to get by" for a single fella.
Yeah it is quite a bit; but then I'm on a fair bit more than 16. averaghe grad salary now is 20-21k I think. Anyway, hopefully some of the other grads will be looking for somewhere to live too and we can share a place then; which would free up another 2-3grand a year! so would be a lot easier.
Currently worst comes to worst I reckon I'll have about 300quid a month to spend on going out, cloithes etc, which anit that bad! :-)
I think you're under-bugeting petrol and bills there richy.
My monthly outgoing for food and petrol works out to about £240, and I only have a 5 mile drive to and from work (with little traffic).
Fortunately I house share, so I pay £390/mo which includes internet/gas/electric/water/council tax.
don';t reckon I am; commute will be 10-15 miles, so thats 25miles a day say, = 125 per wekk plus a little extra so say 150. A tank gets me 300 odd mile sna is about 30quid so say 15quid a week on petrol = around 800 per year.
I plan to life in the city so will walk most places apart from work and the gym maybe.
Bills wise I was just going by how much I pay currently, sharing a studnet house.
And food; I'd allowed 40pw which is fairly easy I reckon.
