Completely lost...

Been offered a place recently on a graduate scheme which I have accepted.

I will start on £22,000 a year. I was just wondering whether this would be enough to move out? If so, would it be enough to run a car? If I could afford these things would I still have enough to socialise etc.

Regarding moving out, the placement is in the South West. I'd like to be able to rent a flat.

Posting on here because I've only ever held part time roles so would like some information about how much tax / pension / student loan I'd be paying.

Any information about finance from people who are more clued up than me would be fantastic...

Cheers.

Reply 1

Pipsico

Earning 22k should mean a post tax amount of around £1300 including pension contribution and loan repayments, give or take £100

You should be able to rent for around £400-£500 including bills, leaving you with a food budget of £100-200. You should be able to save around £500 a month.

Of course. These are also scenarios I've made up in my mind assuming I had that money to play with. You may decide you want a completely different living standard.

All in all 22k is perfectly comfortable a wage to live on, granted you budget well and see where you would like to make savings.

Posted from TSR Mobile