Join TSR now for chat about life, relationships, fashion and more…Sign up now

Could I afford this flat? Watch

    • Thread Starter
    Offline

    0
    ReputationRep:
    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.
    Offline

    1
    ReputationRep:
    (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.
    Offline

    2
    ReputationRep:
    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.
    • TSR Support Team
    • Very Important Poster
    Offline

    3
    ReputationRep:
    (Original post by Sazzle4)
    tv licence is something like 130ish a year I think.
    You can pay this in instalments.
    Offline

    0
    ReputationRep:
    YES :sexface:
    Offline

    2
    ReputationRep:
    (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!
    Offline

    1
    ReputationRep:
    Depends where you live. I live in Cardiff and you could live off that. But if you're in London I think not...
    • Thread Starter
    Offline

    0
    ReputationRep:
    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.
 
 
 
Poll
Do you honestly judge a book by its cover?
Useful resources
How much money do you spend a week?The ultimate guide to tax!Guide to student bank accounts

Sponsored features:

Web Legend

Win a Macbook Air!

Blog about setting up a website for a chance to win in our Web Legend competition.

Quick link:

Unanswered money and finance threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.