Cost of moving out
Discussion
I need a bit of man maths help.
I currently take home around £1,000/£1,100 after tax. I'm in a secure job, so no need to worry about losing it (unless I get myself sacked xD).
Last few weeks I've been thinking about moving out, but no idea how much money I'm going to need.
Ideally I would not like to house share. I'm a bit of a miserable git in the mornings/most the time, and some of the stories that I've head have put me off.
I've seen places advertised on RightMove for around £350/£400 a month, including bills.
Would I earn enough to live by myself?
I currently take home around £1,000/£1,100 after tax. I'm in a secure job, so no need to worry about losing it (unless I get myself sacked xD).
Last few weeks I've been thinking about moving out, but no idea how much money I'm going to need.
Ideally I would not like to house share. I'm a bit of a miserable git in the mornings/most the time, and some of the stories that I've head have put me off.
I've seen places advertised on RightMove for around £350/£400 a month, including bills.
Would I earn enough to live by myself?
Depends on where you live?
Outside of London/South East you should be able to afford to do it, depending on how high your other outgoings are (car/debts etc). It won't be La Vida Loca though, you'll have to budget pretty carefully. Living alone is much more expensive than living in a shared flat/house.
Outside of London/South East you should be able to afford to do it, depending on how high your other outgoings are (car/debts etc). It won't be La Vida Loca though, you'll have to budget pretty carefully. Living alone is much more expensive than living in a shared flat/house.
Inkyfingers said:
Depends on where you live?
Outside of London/South East you should be able to afford to do it, depending on how high your other outgoings are (car/debts etc). It won't be La Vida Loca though, you'll have to budget pretty carefully. Living alone is much more expensive than living in a shared flat/house.
I live in Dorset. I have no debts (well, £160 to parents, but that will be paid next week). Fuel is around £200/£250 a month, however I get some petrol money from my second job, which tends to pay for that most months. Outside of London/South East you should be able to afford to do it, depending on how high your other outgoings are (car/debts etc). It won't be La Vida Loca though, you'll have to budget pretty carefully. Living alone is much more expensive than living in a shared flat/house.
Phone bill is £36, gym (which I might cancel) is £21 a month, apart from that no out goings.
If the rent is £400 a month, it leaves me with about £70 a week for food etc.
Although it might be a little bit more as I'm not including my petrol money.
Is that enough to live on? If I found someone I got on with (to be honest most my mates would piss me off if I had to leave with them xD), it wouldn't be so bad.
If you see something advertised including bills it will likely be a lodger or house share - places aren't rented vacant including bills because it would be madness!
Regardless, £1100 should be do-able in the south east, but it will be tight. Have a look around for budgets, I could make a list but it depends on the property and area really.
My general advice is to try and live at home as long as possible, BUT don't squander the money saved, put as much as possible away for a deposit on a house.
edit: For bills, consider some rough monthly costs:
Electric: £25
Gas: £40 (increase electric if no gas!)
Water/sewerage: £25
Council tax: £70ish
Regardless, £1100 should be do-able in the south east, but it will be tight. Have a look around for budgets, I could make a list but it depends on the property and area really.
My general advice is to try and live at home as long as possible, BUT don't squander the money saved, put as much as possible away for a deposit on a house.
edit: For bills, consider some rough monthly costs:
Electric: £25
Gas: £40 (increase electric if no gas!)
Water/sewerage: £25
Council tax: £70ish
Edited by Gareth79 on Thursday 15th November 21:13
Go renting with mates. Totally recommended, I did it for about 12 years from 18+
Went through a stage of 8 in the house, then sleeping on the floor in another mates room when I hit the UK.
Now finally a home owner.
Anyway, don't rush yourself into sensory deprivation too soon. There is a lot to be said about the social aspects of tolerance and personality management living with a load of people.
Went through a stage of 8 in the house, then sleeping on the floor in another mates room when I hit the UK.
Now finally a home owner.
Anyway, don't rush yourself into sensory deprivation too soon. There is a lot to be said about the social aspects of tolerance and personality management living with a load of people.
Ki3r said:
I live in Dorset. I have no debts (well, £160 to parents, but that will be paid next week). Fuel is around £200/£250 a month, however I get some petrol money from my second job, which tends to pay for that most months.
Phone bill is £36, gym (which I might cancel) is £21 a month, apart from that no out goings.
If the rent is £400 a month, it leaves me with about £70 a week for food etc.
Although it might be a little bit more as I'm not including my petrol money.
Is that enough to live on? If I found someone I got on with (to be honest most my mates would piss me off if I had to leave with them xD), it wouldn't be so bad.
Realistically food will be £40-45 a week (eating for one is often expensive and wasteful), that leaves you say £25 free a week, barely enough to go to the cinema and buy a drink and some popcorn. What about if your card needs fixing, you meet a bird or you fancy a holiday, you'll end up going into debt to pay for it.Phone bill is £36, gym (which I might cancel) is £21 a month, apart from that no out goings.
If the rent is £400 a month, it leaves me with about £70 a week for food etc.
Although it might be a little bit more as I'm not including my petrol money.
Is that enough to live on? If I found someone I got on with (to be honest most my mates would piss me off if I had to leave with them xD), it wouldn't be so bad.
Inkyfingers said:
Realistically food will be £40-45 a week (eating for one is often expensive and wasteful)
With a small amount of care (I'm too lazy to exercise a lot of care) food for one is about £25/week eating at home and cooking rather than bunging ready meals in the microwave.I buy meat in bulk, split and freeze though, and very rarely throw food away. Which reminds me, I forgot to take the chicken out to defrost for tonight's curry. Bum
When I first moved out of my folks place and went to London, I found that I needed about 1000 a month disposable income, after rent and bills, in order to have a worthwhile quality of life. I recently moved back to Southampton, where 600 a month after rent and bills will do. I found the biggest expense to be raising the deposit / initial rental, and all the 'first off' payments ( utility companies, council tax, and so on). This usually amounts to at least 2 grand in my experience. You should get at least some of it back when you move on, but it can be a bit of a shock to the uninitiated. Leaving the rental merry go round also has some unexpected costs involved, in my experience.
Gwagon111 said:
I found the biggest expense to be raising the deposit / initial rental, and all the 'first off' payments ( utility companies, council tax, and so on). This usually amounts to at least 2 grand in my experience.
I've been renting for a good few years, and this is the killer part IMO. Often you need 1-2 month's rent as deposit, plus a damage deposit of up to a month's rent, plus referencing fees (£200 is the highest I've had). If bills aren't included it gets challenging - gas, elec, water, council tax (you can get a 25% discount for living alone), TV licence, phone line rental, internet/phone service, contents insurance. Add on top food, general sundries (washing up liquid, bin liners, cleaning supplies, that sort of thing) and suddenly living on your own becomes a giant blackhole of money. Not to mention you may in some cases have to source your own fridge or washing machine, or even other bits of furniture (eBay and Freecycle are very handy for this). Having said that, being in full control and learning how to live on your own are invaluable. Having said that, I rent a room independently now, having been messed about by various joint-ventures, it works for me but won't suit everyone.
onomatopoeia said:
With a small amount of care (I'm too lazy to exercise a lot of care) food for one is about £25/week eating at home and cooking rather than bunging ready meals in the microwave.
I buy meat in bulk, split and freeze though, and very rarely throw food away. Which reminds me, I forgot to take the chicken out to defrost for tonight's curry. Bum
You probably can feed yourself for £25/week but it takes more discipline/planning than most people have, hence why I think £40+ a week is more realistic, especially as with great respect to the OP this is the first time he's lived away from home.I buy meat in bulk, split and freeze though, and very rarely throw food away. Which reminds me, I forgot to take the chicken out to defrost for tonight's curry. Bum
I guess that the fact that the first time I lived away from home was as a student in self catering, and my budget after accomodation was £30 for everything including books and petrol as well as food and beer rather imposed the requisite discipline on my food spending and it has stuck ever since.
.Certainly possible on your salary, but most of your living costs would eat it up leaving little disposible.
Ask yourself why you want to move out, if the answer is 'because I fancy it' then don't. Use the time living at home as a way to save some money while you can, providing you and the parents are happy with it.
But independence is good feeling, and I've had some great years living is house shares, both with existing friends and strangers, I do kinda miss the random nights out and parties though.
IF you do it, make sure you can afford to comfortably, and definately want to, either way best of luck.
Ask yourself why you want to move out, if the answer is 'because I fancy it' then don't. Use the time living at home as a way to save some money while you can, providing you and the parents are happy with it.
But independence is good feeling, and I've had some great years living is house shares, both with existing friends and strangers, I do kinda miss the random nights out and parties though.
IF you do it, make sure you can afford to comfortably, and definately want to, either way best of luck.
To check, start putting away your expected extra living costs into a savings account each month. If you find that some months you can't manage it, then you can't afford to move out. If you find, come the spring, that it works OK then you may be OK (but remember that real life throws expensive surprises up sometimes), and you'll have some savings to help you out.
Still being relatively young (23) and having moved out five years ago, I would say that you can't really afford it comfortably.
These places you're finding for £350 / month including bills, do you have any links? I'm not sure about Dorset, but in Birmingham that would see you living in a hovel.
I live with the OH and our rent is £480 all inclusive apart from electricity which amounts to roughly £20 a month.
The rent is split 50/50 and with all of my personal outgoings which are pretty minimal, I'm not left with much each month although I do choose to save a fairly sizeable amount which makes things difficult (interesting?).
Rent: £240
Electricity: £10
Food: £150
Car Insurance: £80
Fuel: £150
Credit Card: £100
Phone Bill: £30
Gym: £40
Commute: £40
I earn double that lot and truth be told, sometimes I'm left a little dry so to speak.
The only solution is to increase your earnings. Failing that, house share. It's what I would do if I was single.
These places you're finding for £350 / month including bills, do you have any links? I'm not sure about Dorset, but in Birmingham that would see you living in a hovel.
I live with the OH and our rent is £480 all inclusive apart from electricity which amounts to roughly £20 a month.
The rent is split 50/50 and with all of my personal outgoings which are pretty minimal, I'm not left with much each month although I do choose to save a fairly sizeable amount which makes things difficult (interesting?).
Rent: £240
Electricity: £10
Food: £150
Car Insurance: £80
Fuel: £150
Credit Card: £100
Phone Bill: £30
Gym: £40
Commute: £40
I earn double that lot and truth be told, sometimes I'm left a little dry so to speak.
The only solution is to increase your earnings. Failing that, house share. It's what I would do if I was single.
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