How much do you need to survive each year?

[Rai200]

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.

I'm not sure why you would exclude rent, that's by far our largest outgoing.

Council Tax - £1900
Water/Gas/Electric - £2700
Internet/Phone - £860
Maintenance - £0 as we rent
PC - Maybe £400 a year on average?
Groceries - £5200
Clothes - £1200

£12,260

Rent is £24,420

 

[throwaway4372]

I'm not sure why you would exclude rent, that's by far our largest outgoing.

Because I'm not paying it, so don't need to compare it to other people.
And I will be using the numbers for my own retirement planning, when most people aren't paying rent/mortgage anymore, and it helps to take age and regional variation out of the numbers so they're more comparable.

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

I would die without a pc.
I include it because I know I will always have a PC, so need people to include it, and that's probably true for everyone here.

 

[d_brennen]

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.

I know but I consider recreation to be essential I.E. holiday, socialising. We both work hard and our kid is a somewhat gifted, constantly in clubs/sport/extra curricular learning. Our daughters stuff is easily £10k but I would call that essential. So to answer your question, no mortgage/extra costs, £20k would scrape it, family of 3.

 

[booyaka]

Because I'm not paying it, so don't need to compare it to other people.
And I will be using the numbers for my own retirement planning, when most people aren't paying rent/mortgage anymore, and it helps to take age and regional variation out of the numbers so they're more comparable.

Survive is usually a fairly low amount but "enjoy" retirement needs to be much higher.

I would hate to consider working 40/45 years then "survive" on the absolute minimum in retirement. Why would you want to do that.

To survive - probably around £20-25k joint income in retirement.... However between my wife and I - we are aiming, and on track for around, £50k annual income in retirement including state pensions. That doesn't include savings / investments / ISA. That's purely pension / tax free cash income in retirement.

Savings/ISA will be used for travel, holidays, food/wine trips etc.