The Student Room Group

How much do I need to save to move out??

So I'll be starting a new job soon and I'll be earning around 1300 a month and I want to put some money aside every month to save up and move out. How much will I need to save up and how long will it take me?? I want to move in with someone so I'll probably be looking at some flatshare website etc if any one has any suggestions for that? I don't want to move out alone because I'll only be moving out for under 2 years before I move out again to university.

Thanks
Reply 1
Avatar for UWS
UWS
21
How far would your commute be from home to work? No need to move out if your commute isn't long.

1300 after tax, right? You could set aside about £500 a month if you're good with money. I'd say give it a few months, enjoy your full salary before getting to pay rent :tongue:
Original post by bluemadhatter
So I'll be starting a new job soon and I'll be earning around 1300 a month and I want to put some money aside every month to save up and move out. How much will I need to save up and how long will it take me?? I want to move in with someone so I'll probably be looking at some flatshare website etc if any one has any suggestions for that? I don't want to move out alone because I'll only be moving out for under 2 years before I move out again to university.

Thanks


Rightmove will have shared professional homes on it, you ll need at least £500 to cover moving costs and application fees and a deposit with some places.
Original post by UWS
How far would your commute be from home to work? No need to move out if your commute isn't long.

1300 after tax, right? You could set aside about £500 a month if you're good with money. I'd say give it a few months, enjoy your full salary before getting to pay rent :tongue:


My commute is about an hour so I plan move closer to my work place :smile: Yups after tax! Alright 500 a month is fine as long as I transfer that money to a savings account as soon as I get my first salary :rofl: How long is a few months? I was thinking of saving up about 2/3 grand before I move out?

Original post by claireestelle
Rightmove will have shared professional homes on it, you ll need at least £500 to cover moving costs and application fees and a deposit with some places.


Okay that's not too bad :smile:
Reply 4
Avatar for UWS
UWS
21
Original post by bluemadhatter
My commute is about an hour so I plan move closer to my work place :smile: Yups after tax! Alright 500 a month is fine as long as I transfer that money to a savings account as soon as I get my first salary :rofl: How long is a few months? I was thinking of saving up about 2/3 grand before I move out?


Ah really, an hour is nothing! Personally i think it's best to stay where you are and save all the money :h: Then you'll have more money for uni!

But if you really wanna move then I think at least 6 months? See how things go with your commute first and then decide. If you're really not enjoying living at home then by March perhaps. If you save at least 500 a month you'd have a good 3-4 grand by then.
Original post by UWS
Ah really, an hour is nothing! Personally i think it's best to stay where you are and save all the money :h: Then you'll have more money for uni!

But if you really wanna move then I think at least 6 months? See how things go with your commute first and then decide. If you're really not enjoying living at home then by March perhaps. If you save at least 500 a month you'd have a good 3-4 grand by then.


Wow 6 months is a long time. I really hate where I'm currently living because of my crazy mother :grumble: and she's going to start making me pay rent and bills as well so I might as well move out if I'm paying to endure this torture >.> But we'll see how it goes after a couple of months and if I am as desperate to move out then as I am now.
Original post by bluemadhatter
So I'll be starting a new job soon and I'll be earning around 1300 a month and I want to put some money aside every month to save up and move out. How much will I need to save up and how long will it take me?? I want to move in with someone so I'll probably be looking at some flatshare website etc if any one has any suggestions for that? I don't want to move out alone because I'll only be moving out for under 2 years before I move out again to university.

Thanks


Would you be ok living with someone else? Having your own place is a plus.

If you wnat to rent a room, then you can look at spareroom .com for ideas of prices. They might require a deposit of 4-6 weeks as well.

For your own place it would be 1 months rent +4-6 weeks deposit.
Then it would be monthly rent + bills (utilities) + Council tax.
+ anu money you need to ste you up + more if you rent unfurnished.
Original post by 999tigger
Would you be ok living with someone else? Having your own place is a plus.

If you wnat to rent a room, then you can look at spareroom .com for ideas of prices. They might require a deposit of 4-6 weeks as well.

For your own place it would be 1 months rent +4-6 weeks deposit.
Then it would be monthly rent + bills (utilities) + Council tax.
+ anu money you need to ste you up + more if you rent unfurnished.


I would prefer to move out into my own place but I just feel like it would be way more expensive and I don't think I'll be able to afford it with just £1300 a month ESPECIALLY since I live in the oh so expensive London. And also It would be much more effort if the house is unfurnished etc especially since I'd be moving out in 2 years.

How much would 4-6 weeks deposit be? and how much is Council tax? and how much is enough money to set me up? Like a grand?
Original post by bluemadhatter
I would prefer to move out into my own place but I just feel like it would be way more expensive and I don't think I'll be able to afford it with just £1300 a month ESPECIALLY since I live in the oh so expensive London. And also It would be much more effort if the house is unfurnished etc especially since I'd be moving out in 2 years.

How much would 4-6 weeks deposit be? and how much is Council tax? and how much is enough money to set me up? Like a grand?


1. As i said look up the local princes on spareroom.
http://www.spareroom.co.uk/
2. Google council tax for your area. You only have to pay it if its not included in the rent , most likely when you rent your own place. Its per residence so you would split it with whoever you shared with.
3. Set up depends on whether furnished or unfirnished. I'd say its best to have at least a bed there. Then you are alking about things like duvet, crockery, pans, maybe TV. Assume white goods are there. £500 should be plenty maube a lot leess.
4. If you cnat afford your own flat then you cna consider en suite, bedsit, studio as cheaper alternatives.


BUY SOME FOOD
Original post by 999tigger
1. As i said look up the local princes on spareroom.
http://www.spareroom.co.uk/
2. Google council tax for your area. You only have to pay it if its not included in the rent , most likely when you rent your own place. Its per residence so you would split it with whoever you shared with.
3. Set up depends on whether furnished or unfirnished. I'd say its best to have at least a bed there. Then you are alking about things like duvet, crockery, pans, maybe TV. Assume white goods are there. £500 should be plenty maube a lot leess.
4. If you cnat afford your own flat then you cna consider en suite, bedsit, studio as cheaper alternatives.


BUY SOME FOOD


Thank you :h:

I will buy food... when I get my first salary which actually seems like months away :grumble:
70 lakh rupee's
Original post by Boss_Rhythm
70 lakh rupee's


*Reports as unhelpful*
Original post by bluemadhatter
*Reports as unhelpful*


But it is quite helpful
+
Don't report me

Spoiler

Original post by Boss_Rhythm
I've been reported enough in the last week


Maybe you should start posting helpful posts then.
Original post by bluemadhatter
Maybe you should start posting helpful posts then.


I do tho....
Original post by bluemadhatter
So I'll be starting a new job soon and I'll be earning around 1300 a month and I want to put some money aside every month to save up and move out. How much will I need to save up and how long will it take me?? I want to move in with someone so I'll probably be looking at some flatshare website etc if any one has any suggestions for that? I don't want to move out alone because I'll only be moving out for under 2 years before I move out again to university.

Thanks


I'd agree with most of those above a few grand would be sufficient for most places especially in a shared arrangement

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