Moving out - Budget planning help

Megahurtz400

Megahurtz400

Megahurtz400

Soldato
Joined
5 Jun 2007
Posts
9,324
Location
extremes.spacious.indelible
Hi there,

Got myself a new job which means it looks like i'll be able to afford to move out later in the year! :D

Now, i'm planning on sharing a house with a friend, and am currently making a budget plan to see if I can afford it after the "moving in" expenses. (So like after i've been living by myself for a month or two)

So, just wondering if i've forgotten anything major that needs accounting for:

Rent - £425
Council Tax + TV License - £106
Food - £80
Car Insurance - £150
Petrol - £120
Phone/Internet/Sky - £35
Gas/Electric/Water - £40

Everything is already divided by 2, per month, apart from Food, Car Insurance and Petrol.

Also, do those figures sound right, or is it too much/little? Taken a 3 bedroom detached house as we want room for a little recording studio haha!

Also, when renting, is house insurance normally included in rent, or do I need to get it extra?

Finally, any other advice would be great :)

Cheers,
Dan
 
Last edited:
Only £80 for food? Sounds rather low to me, also you should include some "Socializing" allowance.

As far as i know the landlord should have the house covered for buildingsinsurance, however you will have to provide your own contents cover if you desire.
 
Bennie-Mac said:
Only £80 for food? Sounds rather low to me, also you should include some "Socializing" allowance.

As far as i know the landlord should have the house covered for buildingsinsurance, however you will have to provide your own contents cover if you desire.
Click to expand...

I have £300 personal spending allowed, but that still leaves a large chunk of my monthly pay left :)

And on the insurance front, how much is it on average?

Going to have a lot of musical equipment in the house so want something good, and the example house is in a nice area :)
 
Megahurtz400 said:
I have £300 personal spending allowed, but that still leaves a large chunk of my monthly pay left :)

And on the insurance front, how much is it on average?

Going to have a lot of musical equipment in the house so want something good, and the example house is in a nice area :)
Click to expand...
£80 for food a month seems low.

Insurance completely varies on the area. A nice area could be several hundreds a year.
 
I rent a place in a nice area of the home counties.

£80/month for food is low, unless you're shopping somewhere cheap and always cooking meals together with your housemate. Then it may be doable. For reference I live alone and spend £40-50/week on food for myself, shopping at Waitrose. I also eat out 2-3 times/week though.

My contents insurance is ~£180/yr for the standard £50k contents cover with two watches as named/valued items >£4k each.
 
£80 for food for one is perfectly fine if it just for the food basics and you intend to do a lot of your own cooking.

dunno how people can spend so much on food, must buy it in gold packaging.

edit: see above, £50 per week for one is ridiculous, you must eat very well.
 
Go nearer 150 for food, 50 for leccy etc.
Ring an insurer for a quote on contents insurance.

You also need headroom - if your car breaks, etc.

And a plan for what happens if your housemate proves unreliable.
 
vincent1989 said:
£80 for food for one is perfectly fine if it just for the food basics and you intend to do a lot of your own cooking.

dunno how people can spend so much on food, must buy it in gold packaging.
Click to expand...
When I lived alone, I cooked 95% of my meals myself. £80 a month was less than my 'meat' costs. And I didn't exactly earn a massive wage, nor eat a lot, nor eat 'well'.
 
Van Hellseek said:
You'll be lucky if £106 covers council tax, let alone TV license as well.

How on earth do you figure £106 for both? :confused:
Click to expand...

Using the colchester borough website, took the figure for one of the higher properties (160k-320k), divided it by 12, divided it by 2. Same with TV license :)

So its ~215 a month in total?
 
Might i suggest the OP highlights in massive yellow letters the "Everything is divided by 2, per month, apart from Food, Car Insurance and Petrol."

;)
 
Backslick said:
That's his share of them.
Click to expand...

No thats the total according to the OP, he said everything else will be divided by two.

It depends on the location and band the house is in, it could also help if the person he is moving in with is a student as then he would only be responsible for half of the council tax.
 
Agreed 80 quid for food seems low

Backslick said:
My contents insurance is ~£180/yr for the standard £50k contents cover with two watches as named/valued items >£4k each.
Click to expand...

Out of interest who do you get your contents cover with? Looking to get contents cover for our belongings which include 2-3 expensive items.
 
Apok said:
No thats the total according to the OP, he said everything else will be divided by two.

It depends on the location and band the house is in, it could also help if the person he is moving in with is a student as then he would only be responsible for half of the council tax.
Click to expand...

It was quite obviously badly phrased. No way will you rent a house in Essex for £425/month; read between the lines.

IMO those council tax calculations are fine.
 
You must log in or register to reply here.
Back
Top Bottom