Finances Question

BlackDragon · 18 Mar 2009 at 11:32

Hi all,

I'm due to graduate in July, and hopefully I'll have a job by then.

I'm trying to figure out my finances if I had a particular salary, but I don't know what all the outgoings are as this is the first time I will have to start paying all sorts of taxes.

Say I have a salary of £25K, how much money might I have at the end of a month for myself to do whatever? I know it all depends on where I live, if I own a car (which I don't yet, but may in the future), etc.

Much appreciated if you can help!

BlackDragon · 18 Mar 2009 at 11:36

£10,000 lost to tax already? :eek:

Fortunately I don't have much of a student loan to pay off.

BlackDragon · 18 Mar 2009 at 11:39

mjer1984 said:
£25k will give you about £1.5k a month in your hand.

I spend
£600 on bills
£160 on food
£300 on savings
£60 on car (excluding insurance)

that would leave me £380 a month to burn on eletronics.

Do the bills include tax as well?

BlackDragon · 18 Mar 2009 at 11:42

SlyReaper said:
If it helps, I can give you my numbers. I graduated last year and am earning 23.5k. I've already paid off my loan and am paying £280 a month rent, all bills included, and don't have a car. I'm left with about £500 a month after food, household supplies, random DVD purchases, computer parts, going out etc. It's all going towards saving up for a car.

Aah that's good

I take it you live with other people with rent that low?