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How much should I spend on rent with a 28 k salary ?
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Original post by donutaud15
its three bedroom so not so bad I suppose. we kinda need one as we would be starting a family and I thought it would be better to get a good three bedroom house for a starting place.
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Obviously it depends on how soon you'd be intending on filling those rooms
And whether you're having to rent whilst saving the deposit.
Original post by Reue
Obviously it depends on how soon you'd be intending on filling those rooms
And whether you're having to rent whilst saving the deposit.
And whether you're having to rent whilst saving the deposit.
We are renting now. No choice really as we spent our money moving here and deposits are out of the question, for now.
And we are planning kids in a couple of years so we would need a bigger place.
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Original post by donutaud15
We are renting now. No choice really as we spent our money moving here and deposits are out of the question, for now.
And we are planning kids in a couple of years so we would need a bigger place.
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And we are planning kids in a couple of years so we would need a bigger place.
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Would it not make more sense to buy a small place, build up equity and then move to a 3-bedroom? Save on wasting money for Rent whilst trying to save up a much larger deposit.
Original post by traintracks1995
Is council tax really as high as £150 a month for a £600 a month flat ? :O
I want a 1 bed flat, which is about £700 a month where I am. Council tax is about £750 a year (call it £60 a month), internet at £50, not sure how much utilities are, maybe £80 a month, so that's £890 a month, which is quite a big chunk of my £1650 net income hmm
PS I also drive a big saloon and spend a fair amount insuring and refueling that too
I want a 1 bed flat, which is about £700 a month where I am. Council tax is about £750 a year (call it £60 a month), internet at £50, not sure how much utilities are, maybe £80 a month, so that's £890 a month, which is quite a big chunk of my £1650 net income hmm
PS I also drive a big saloon and spend a fair amount insuring and refueling that too
Why do you need a big car? I have a Fiat 500 now (did have a Mini cooper) and I have lots I have to carry about as I work part time as a mobile hairdresser/beautician and manage just fine.
I'm assuming you are in/around London- there really isn't any necessity for a car unless, like me, you need it for work related purposes.
Original post by donutaud15
The house prices where we are and what we need, are around 350k. They told us that we have to have a higher deposit. A friend of ours found a slightly cheaper one bedroom house in his salary (28k) but he needed quite a bit for deposit (not sure how much) and had to have his dad to co sign.
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your friend is on a good salary
Original post by Reue
Would it not make more sense to buy a small place, build up equity and then move to a 3-bedroom? Save on wasting money for Rent whilst trying to save up a much larger deposit.
Our stuff will unlikely to fit in a smaller place as it barely fits a two bedroom now lol.
I thought that but by the time we save enough deposit for a bigger house we probably have a child or two. Also I'm having second thoughts about buying as we are thinking of moving abroad.
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Original post by littlesmurfette
Why do you need a big car? I have a Fiat 500 now (did have a Mini cooper) and I have lots I have to carry about as I work part time as a mobile hairdresser/beautician and manage just fine.
I'm assuming you are in/around London- there really isn't any necessity for a car unless, like me, you need it for work related purposes.
I'm assuming you are in/around London- there really isn't any necessity for a car unless, like me, you need it for work related purposes.
apparently OP thinks people with no car are nothing, especially in London.
Original post by traintracks1995
your friend is on a good salary
It's going up a hell of a lot in the next year (similarly to my husband)
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Original post by littlesmurfette
Why do you need a big car? I have a Fiat 500 now (did have a Mini cooper) and I have lots I have to carry about as I work part time as a mobile hairdresser/beautician and manage just fine.
I'm assuming you are in/around London- there really isn't any necessity for a car unless, like me, you need it for work related purposes.
I'm assuming you are in/around London- there really isn't any necessity for a car unless, like me, you need it for work related purposes.
I don't NEED a big car anymore than a girl needs to wear makeup. I just do because it carries prestige and status with it. Like having a nice suit or a nice watch. I live well outside the M25 and I commute into Heathrow just off the M4 everyday. Anyone who reads this thread would think that car ownership in London is the preserve of the elite and taxi drivers.
(edited 10 years ago)
Lol silly kiddo.
Go learn to be an adult first
*taps you on your head*
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Go learn to be an adult first
*taps you on your head*
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Original post by traintracks1995
What's a tax allowance ? Is this something I missed out on when I was earning a peasant like 20k? Needing 40k to live comfortably is bull****. I bet only 20% of working people earn that much, so 80 % of the population don't live in comfort ? And if you're earning 150k and taking public transport then that's pathetic. I'd be balling in a BMW 760 if I was on that much money.
Most of the disagreement here comes down to a difference of mindset.
Rich people consider wealth to be accumulated assets. These reduce one's expenses (eg. owning a house) or provide a passive income (eg. owning equities, bonds, etc.).
Poor people consider wealth to be evidence of continuous spending. This is understandable since historically poor people didn't earn enough to accumulate assets after covering genuinely necessary expenditures.
You are entering the middle class, which is mostly composed of historically poor people who now have incomes high enough to be used to accumulate assets. Some actually do so, others just increase their continuous spending. It's your choice.
Related discussions
- Is earning 25k a year considered poor?
- Education
- Paying rent at home
- What should one consider if pay is one's main concern?
- UK Medical School Debt is about £184.5k over 30 years
- EY Apprenticeship Salary
- Big 4 salaries
- How much money do I need in order to be attractive?
- Degree apprenticeship accommodation
- Guardian - UK middle classes ‘struggling despite incomes of up to £60,000 a year’
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