Enough to move out?

Casdawer

Casdawer

Casdawer

Soldato
Joined
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Location
Hampshire
Morning boys and girls,

Last week i managed to get a new job earning a lot more cash then i'm on now, which means i finally have the ability to move out... i think...

I now earn 23k pa which works out at about 1,500 pm (give or take).

My outgoings at the moment are:

Loan - 150
Car Insurance - 80
Phone - 70
Train Travel - 100
Unlimited Cineworld Card - 30
Laser Eye Surgery - 70

As you can see, that leaves me with £1,000 - is that enough to move out?

I would like to have some money left over to pay off my loan and laser eye surgery and be able to go out and get a new game every now and again; would i be able to do that?

I currently live at home which is hell is i pretty much live in a room the size of Harry Potters when he lived with his Uncle and Auntie and it's a right pain.

Any help/advice would be much appreciated.

Thanks,
Cas.
 
It depends how you want to live and where you want to live.

Have a look around the area's you want to live and the cost of a house/apartment/flat on something like rightmove

70quid for a phone bill? WOW thats quite a lot can you not cut that down?
 
Skully said:
Yes you can, I live with my girlfriend and I earn less than that.
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You probably split most expenses and bills though so would be perfectly feasible to do so on a lower wage. With him being on his own his outgoings and bills etc will be substantially more than yours I would imagine.
 
i would stay at home and pay off your loan and eye loan.

cut down on your massive phone bill.

get rid of the cinema cost.

once your loan is paid off and your laser eve loan then you will have a lot more each month.
 
R.O.S.S.I said:
You probably split most expenses and bills though so would be perfectly feasible to do so on a lower wage. With him being on his own his outgoings and bills etc will be substantially more than yours I would imagine.
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He could always move into a house share which would give him a similar situation and also make the process of leaving home a little bit easier.

70 quid a month phone bill is mental!
 
if you get £1500 a month right now you should be easily able to pay off your loans in 4-5 months, and like people say shop around for a better phone company lol and unless you go to the cinema 3-4 times a week ditch the card... then before you move out you will be an extra 200-300 a month better off.

and also it would be much easier to find a flat mate, you would be able to get a bigger place
 
If the prices round here are anything to go by, even with £1000 "spare" you'll be looking at a notably lower quality of life by moving into your own place.

I'm pretty much set on buying a property this year (on my own), but I'm going to have to reside myself to not living the same lifestyle I currently lead, that or get a lodger.

In short, it'll be doable, but I guess it depends on whether or not you can cope with cutting back on the frivolous spending/going out/eating what you want/treating yourself/etc.
 
It will very much depend on where you are moving to and what the local rents are but yes, in theory it's perfectly feasible. As a general rule I'd suggest aiming not to spend much more than 1/3 to 2/5 of your monthly income on rent and associated utilities - however I don't know what ~£500 will get you in West Sussex.
 
£70 phone bill is 2 x £35 as my GF has recently lost her job, so i said i would pay it for her till she got a new job so it is only temp.

Cinema pass is the same , 2 x £15 but I can scrap - we did used to go about 3 times a month which meant it worked out cheaper, but not any more.

I was wondering if waiting till i've paid off my 2 loans is the better option, but i've worked it out and it will take me about 18 months to pay it all off and i don't know if i can survive that long! :D
 
You need to be realistic and up your outgoings to get a more accurate figure for example:
Car Tax, MOT, repairs servicing.
Clothes.
Christmas and birthday presents.
There'll be loads of stuff you your spend money on a regular basis that you need to factor in.
 
As was said, you need to ditch the phone and cin bills first - then take a realistic look at all the bills you will be paying. Easiest way is to stick an estimate on a spreadsheet...... and when i say be realistic - don't just selectively forget to put something down because it's too expensive or you think you can get away without paying it.

£1000 a month on your own isn't really that much when you consider all the utility bills and food. You also haven't factored in any xtras like savings, parties, new clothes, shoes, magazines, special occasions and the odd coffee/chinese - we all do them - so don't selectively just think they don't exist.

Do you plan on sharing a rent or living on your own ? Ever been away from home ?
Do you know how much average rent, electricity, water, gas, rates, TV, house insurance, internet, landline cost in your area ? I currently have 18 things coming out of my pay each month (and that hasn't changed in 12 years) - and that also doesn't include any food/booze bills which are bloomin expensive these days - or anything to do with my car (which needs fuel, insurance, taxed and maintenance of about £300 a year) - even something as simple as your usual toiletries bill can push you over the edge.

If you only have £1000 a month- will that mean the end of holidays, will your social life suffer, will you have to starve ? Do you plan on living in debt - moving from one month to the next going furthur into the red on credit just to live the life you are used too ?
 
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I'd certainly wait until your girlfriend has a job if you're helping her out that much. I'm not saying its a bad thing but I think it will be too much of a burden. I'm guessing you're paying for some other things for her at present?
 
As people have said, you could cut down on your expenses to save you cash. Also if you can find a friend to share a house with then you'll benefit more. Otherwise you should be able to get somewhere cheap with your bills adding upto less than a grand. You may not have a lot left over though.
 
Read the thread people, phone bill is £70 due to paying his and his ladies phone bill as she has no job...same with the cineworld card.

It's do-able op, i'd like to move out once I get back into a decent full time paying job...one word of warning I guess...watch the lady, she'll no doubt just want to sleep there as well and just eat all the food etc, while having no job :p

Me and my ladie would like to move out...but she wants to go back to uni (Travelling back and forth)...But I don't think she's realised how much renting / a mortage actually costs along with general living...Cause I sure as hell am not paying £600 odd to rent all by myself :p
 
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