How much do you need to survive each year?

throwaway4372 · Tuesday at 09:21

I'm after data points to compare with:

How much do you need to survive each year?
(estimate to the nearest 1k)

Including: council tax, home insurance, house maintenance, water, energy, broadband, phone, pc (essential!), groceries, clothes, other essentials.

Excluding: mortgage/rent (assume home is owned), car, holidays, non-essentials.

Ayahuasca · Tuesday at 09:23

Bout tree fiddy

413x · Tuesday at 09:23

With mortgage
13k for me
24k as a couple

Without mortgage
8k for me
14k as a couple

I know as that's what we are contributing to the joint account.

I gather from our Earnings that is quite a low cost base? Just from being on the forum for a while and people saying it's weird to take a free fridge!

Edit.
Whoops. I didn't see mortgage excluded.
New figures.

I kill Bunnies · Tuesday at 09:38

Too much to even think about until the kids are grown up, uni paid for etc....

Thekwango · Tuesday at 09:52

to survive? very little. to actually live, a whole lot more.

Trifid · Tuesday at 09:59

If I was strict on my discretionary spend, £17k. Actually, £20k as I have some annual expenditure.

throwaway4372 · 2024-10-27T19:36:40+0000

some more data points would be helpful if anyone else wants to chime in

nightwish · 2024-10-27T19:47:15+0000

I have a pretty detailed spreadsheet of costs for my family of 4. If I cut out mortgage payments and Birthday/Christmas presents, I get around £25K base costs, before any capital expenditure. That does include running costs (but not finance payments or saving up) for two cars. We could maybe shave a K or two off of that if we were desperate, but that's about it.

MatsyLR · 2024-10-28T00:02:01+0000

For all DD's just under £650 inc mortgage, elec, gas, council tax etc. Say 80 or so for food but let's just round it up to £800 a month for good measure to account for home insurance/car stuff (I pay all insurance annually and car is paid off) So £9600 per year, let's just say £10k to make it nice.

danlightbulb · 2024-10-28T08:01:39+0000

Excluding mortgage and child maintenance, around £18k a year is what I currently spend myself. Mortgage and child maintenance doubles that.

Barry Smalley · 2024-10-28T08:02:42+0000

I reckon we could survive on 10k, but it wouldn’t be much fun.

MichaelAwkward · 2024-10-28T08:03:59+0000

If we were really pushed I think we could get it down to £7.5k each but that currently includes the mortgage which will end in a few years. Realistically with no treats it’s more like £10k each. Add in those and about £15k each should do it assuming we don’t move house, have a kid, etc.

inferno · 2024-10-28T08:12:28+0000

It’s about 50K for me.

d_brennen · 2024-10-28T08:20:14+0000

Where do you draw the line? Anything from £15k to £100k joint

Bluecube · 2024-10-28T08:25:01+0000

As a family about £15k a year excluding mortgage obviously. That’s including car payments so enough to survive but very, very little else

throwaway4372 · 2024-10-28T08:41:00+0000

d_brennen said:
Where do you draw the line? Anything from £15k to £100k joint

The minimum, this is about surviving, basic needs.

In the original post I tried to summarise include/exclude lists to make sure we're all including the same stuff:
Including: council tax, home insurance, house maintenance, water, energy, broadband, phone, pc (essential!), groceries, clothes, other essentials.
Excluding: mortgage/rent (assume home is owned), car, holidays, non-essentials.

btw what brought this on was for me I calculated about 11k, then I asked mum and she said 6k.
I am mainly interested in numbers for single people because that's my situation, but other numbers are welcome as long as people state their situation.

Hagar · 2024-10-28T08:47:17+0000

As a non working person defined by new old Labour I don't pay housing costs and could get by all the basics on another 15k after tax. Thankfully we earn more than that (after tax).

neilw · 2024-10-28T09:24:52+0000

I think if I stopped driving, and did nothing other than pay essentials bills and food £15-£20k

Goksly · 2024-10-28T09:37:28+0000

Title says survive. Post says broadband / pc etc. So are you after "living comfortably" or are you on about surviving?

darkgen · 2024-10-28T09:43:48+0000

~14k a year. ~16k if I add a holiday.
I'm quite frugal by nature so I suspect most would see my lifestyle as survivalist as opposed to just being comfortable in my own skin and living a style that suits me.
Retired now, so interest on investments alone covers that and quite a bit more. I do need to be more extravagant as otherwise I'll snuff it on sitting on a tidy sum!