Phil

iTrader: (1)

I am just doing some budgeting as I am buying my first house very soon (hopefully )

After ALL house bills (mortgage, gas, electric, council tax, insurance, tv license, phone, broadband etc) and ALL personal bills (car tax, insurance, mobile phone, petrol etc) and ALL food,

How much spending money do you need a month?

Would £1k of free spending money be enough?

What about if £1k had to be for me and the girlfriend? (Obviously she would be staying in ironing and cleaning whilst i'm out spending money )

Would I have to cancel all trackday dreams for the next 20 years?

How much do you home owners have spare each month after the bills (if you dont mind saying)

Thanks

SapphyMike

If I just had the house to run, it would break down like this.

Mortgage £480.
Gas £30
Leccy £30
Water £22
Shopping £150-£200
Council Tax £80
Phone £10

Would leave me with £300 let out of my monthly take home, if i had NO other loans etc.

I do own the house, i just dont pay the council tax or the shopping as i dont live there right now lol.

Phil

iTrader: (1)

SapphyMike
Can you live on £300 a month? What if the car brakes down or you need to buy a new fridge or something?

And what about holidays!

Or is it ok?

Lambchop

iTrader: (1)

I think £1k spare is plenty personally

To have that left after paying the bills is a result

Fudgey

iTrader: (4)

bunch o cunts

after i have paid all the bills, budgeted for fuel fuel for the month and shopping etc...

im left with about £50 to spend as i please

no wonder the 3dr is taking forever

Carlsworth

you ll notice that things dont tend to go wrong, and if your careful with your money, then you ll accumilate plenty for a fridge in no time..

saying that, my 2k overdraft and credit cards do help


at the moment im "in theory" left with 800 a month after paying house related stuff...

but obivoulsy you need to eat, fuel and insure a car, have some sort of life etc etc,...

it soon dwindles


btw, i live on my own, so dont have a partners income to help with bills etc

Lambchop

iTrader: (1)

Hold on, you're bird isn't preggers is she?

You're selling the mk1 due to family reasons and now you wanna know if you 2 can survive on only your ££

swerv

£1k spare after everything, and its your 1st house

i think you should buy a better house and be skint like the all the other 1st time buyers

Phil

iTrader: (1)

Hell NO!!

My parents are sperating and so I need to raise a house deposit quick sharp

DanS

After all bills are paid I have around £800 left over, but then you still have things like food & petrol to come out of that!

I rent a room out for £300 a month which helps pay for the girlfriend lol!!

Carlsworth

300 a month for a room,...robbing cunt....
my mortgage isnt much more than that

cabrio zo

£1k between both of you should be plenty! I hardly have anything left each month probably not even £200, I never spend anything on 'me' but out of whats left that does contribute towards stuff for the cars and house/garden although I can't grumble entirely, I do spend around £70 a month to have my pony.

Z

DanS

He offered that to me!! I accepted... but it does include money towards bills

anyway, my mortgage is double that plus a bit

Phil

iTrader: (1)

cabrio zo
What about clothing and house maintenance etc? Do unexpected bills crop up often?

I know how much the cars cost to run, outside of that i'm fairly clueless aside from average gas/electric bills etc.

rocky_robin

If you can live on £1K a month, I think it's time to buy another house.......like I did!

Marc LJX

iTrader: (2)

I would need about £32 a month to stay afloat if i stopped spunking money on Fords

Seriously mate, 1k spare a month should be plenty

SapphyMike

No

Right now its all immaterial as i dont live in the house, so dont have all the bills, but tbh, when i sell it and get another, i should have circa £400 a month to live on LOL

its also cheapish to live up here in Hull, and as I'll be living on my own, I doubt i'll be spending more than £100 on shopping, I wont need a large house etc, so I'm not so fussed.

If the car breaks down, well, I just buy another LOL

Lambchop

iTrader: (1)

Sorry i'll take my foot out of my mouth and get my coat

Stu @ M Developments

iTrader: (12)

Can you live on a spare £1K a month? Are you joking!?!

Jees.. how the other half live.

cabrio zo

A rough breakdown which we practically split equally between the two of us, what I quote as having left is after making provision for aboug £15 mobile, £60 petrol & £60 food, below is what comes out jointly, I taxed the Escort and the Rover, J paid the cossie insurance and tracker, we kind of share those kind of things, J pays £15 month broadband, I put £30 a month into a savings account, sometimes if unexpected bills come up I use some of that, but usually just end up skint!
Have a little bit of money for the odd pint, can't spend much on clothes either

Mortgage £716
House& contents insurance £20 (Esure)
Rover insurance £26 (more like the household car)
TV Licence £10
Life insurance £13
Council tax £110
Water rates £42

Then quarterly BT bill around £42 (phone calls paid by J through Tesco, £4 a month maybe)
Our last gas bill for the cold quarter was £150!
Electric was £50

Thankfully unexpected bills don't crop up that often *touches wood* but between us we could cover it

Just signed up for £16 per month heating and boiler cover with British Gas

House/garden maintenance comes out of the £200-300 I have left

So monthly outgoing to run the house is about £940, but if split the gas/electric into monthly it probably be nearer £1k then add petrol, food, car tax etc on top it be nearer £1,200 for the two of us - this is a 3 bed house without water meter or electric card meter, with 3 cars to run, a rabbit & pony to feed and J addiction to the pub! lol (which mostly comes out of his own left over money)

We still manage track days now and again, the shows and eat out, we don't go without, but that because there is two of us to split the cost.

bought the house at £135,000 borrowing £128k the spent £7k deposit the aroudn £2.5k on solicitors, house buyers report thing and stamp duty etc etc, we think already have around £15-20k equity (a neighbours house with smaller kitchen extension and no garage (ours got small workshop on the back and slightly wider than most block garages) went for £158k a year ago

Z

Phil

iTrader: (1)

Lol! I'm too old to be affected by that sort of stuff - i'm 23 so I should have moved out years ago already

But if the girlfriend was up the duff, well that might just push me over the edge

gingeRS

lucky northerners

but then again, you do have to live up there

CossieRich

iTrader: (1)

rofl .

Well said ginge

Phil

iTrader: (1)

Stu @ M Developments

I spend way more than 1k a month at the moment, on my own with no bills

rog

iTrader: (2)

I think I pay out around £1100 a month usually, a little more at the moment cause I'm subsiding the mrs as she hasn't got a permanent job justnow. That's just bills no food or petrol etc... I think about a grand is reasonable, I like to be able to go out whenever i like which is usually twice a week on the piss, cinema, out for meals, go karting (new hobbie) etc..... plus try and save a bit as i go along. The more you earn the more you spend though, If i had a good month 3.5-4k I still usually end up with the same amount just before i get paid again.

dvid

Roughly on the place I have just bought, but not moved into yet:

Mortgage £1292
Council Tax £150 ish
Gas £130
Leccy £110
Car £90 ish inc petrol
Phones £80
Various bits ive missed like insurances £200 ish

I think overall we will have approx £900 a month left to do with whatever! This new place will be a big jump for us at 24 but worth it in the long run i'm sure

Phil

iTrader: (1)

Surely that is not monthly for gas/elec?

I had budgeted the following:

Mortgage 810
Electric 20
Water 15
Gas 20
Phone line 11
Internet 15
TV Licence 11
House insurance 11
Council Tax 110
Food 200

Then my outgoings
Gym 26.5
Phone 30
Car insurance 40
Car tax 16
Petrol 140

And the girlfirends
Phone 20
Car insurance 35
Car tax 16
Petrol 60

Dicko&Vacant

iTrader: (3)

think you can easily manage on 1k left over, we tend to have bout £500 left over a month after all bills are paid and manage just fine, depends what you do as a hobby tho

SapphyMike

I have an extra £33 a month now, thanks to a pay rise i received today

Phil

iTrader: (1)

SapphyMike
Good news Thats one less bill to worry about

SapphyMike

I've stuck it straight into my isa account, with the £22 i hadnt spent this month

SassyRS

I was thinking the exact same thing..

S2Mick

You peep's must be on some fuckin papers then?

Me and the other half earn good and we struggle to have a lot left

Spose 3 cars, a phat motorbike and £550 a month train fare for work plus kid dont help.


Phil, you dont know you've been born lover Or is it a round about way of 'my dick's bigger than yours game'?

Fancy a game of ruggers ol chap?

cossie4i+

iTrader: (15)

I only wish i had 1k a month spare

Im just a bit better off the Dan @ FastFord

Steve.

Lambchop

iTrader: (1)

wtf!

How far do you have to go?

Porkie

iTrader: (1)

£550 a month train fare is steep! mine is only £380! and thats first class (can't bare sitting with poor people you see I find they smell.... )

Where do you travel to? the moon?

I reckon I could just about cope on £1k a week Phil if I really pulled my oars in and stopped all the things I enjoy the most....

Oh you said a month???....

Sure you will be fine mate. Just live to your means. You are a sensible chap and won't get into trouble with debt so go for it

Whatever you do just get on the property ladder ASAP!

S2Mick

Peter'b to london kingscross. Then all around london to a various building sites/meetings etc.

Costs a whopping £5 a day to park at the train station to boot

Just to pay for one days travel £45


If i was bright enough i'd move closer

but then the RS would only consume the rest