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Could I afford this flat?

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    Hi, i was just after peoples opinion on whether or not I could afford a one bed flat for 10 months at £395 per month excluding bills on a budget of £6900 and I dont have to pay council tax. So I would need to pay: bills, food, going out etc.
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    (Original post by Sally93)
    Hi, i was just after peoples opinion on whether or not I could afford a one bed flat for 10 months at £395 per month excluding bills on a budget of £6900 and I dont have to pay council tax. So I would need to pay: bills, food, going out etc. Or could I afford a flat of £400 per month or £425 per month (all one bed flats).
    £6900 over 10 months is £690 per month. So after rent you'll have £295 per month for all other living expensive. This is assuming you won't have to pay for a deposit, moving in fees. I don't think that would be enough after paying for gas/elec/water, internet, tv license, food, going out etc.
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    As has been said you'd only be left with #295 (don't know why my pound sign won't work on tsr...?!) which is really not a lot. Depending on whether you were flat rate or metered you could be looking at as much as 40-60 per quarter on water, you'll want gas/electricity which can eat up a huge chunk (far more pricey than water), tv licence is something like 130ish a year I think. If you were really careful you might manage the 395 flat but I think you'd be better aiming a bit cheaper. This is why students tend to house share really.
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    (Original post by Sazzle4)
    tv licence is something like 130ish a year I think.
    You can pay this in instalments.
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    YES :sexface:
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    (Original post by OU Student)
    You can pay this in instalments.
    True, that's how I do mine. You can do yearly or quarterly I think. Mine's been on direct debit for years so I forget the details!
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    Depends where you live. I live in Cardiff and you could live off that. But if you're in London I think not...
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    Thanks for the advice, it would be in Lincoln, so a lot cheaper than London. The cheapest ok looking one bed flat I can find now is £375, excluding bills.

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