How much money would you need to earn as a bare minimum to live?

Ive been wondering lately how much it would cost for me to live by myself, considering food/heating/electricity/wi-fi/housing etc.

about £10k

It really depends where you live. Where I am, £1,000 a month will pay your rent and bills and leave you with a little left over. In London you'd be lucky if it paid your rent on its own, never mind cost of living.

Reply 3

0zzu

As a bare minimum? You don't need much.

Reply 4

username1339858_

RENT = varies, around where I am, with the bills/tax etc you're looking at £500 to £800 a month.
FOOD = depends. Let's go with £100 per month.
PHONE = let's go with £10 per month
CAR INSURANCE = Varies, let's say 1k per year.
CLOTHES/SHOES = Varies, let's say £25 per month
OTHER = You don't want to live life on a tight budget, you want to experience life. Can't give it an amount.

It all depends on too much to give a figure. I've probs been too generous in places

(edited 6 years ago)

Reply 5

eden353

I live in Salford, Greater Manchester, and I worked out I could live comfortably on just over £17k a year if I were renting a fairly decent place and living alone. The rough budget I made was as follows:

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Description - £ per month / £ per year

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Rent - £650/£7800 (In hindsight I could probably get a decent place for £550/month if I searched around.)

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Bills/maintenance - £200/£2400

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Transport (Public) - £80/£960

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Food & Drink (non-alcoholic) - £100/£1200

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Socialising & Eating Out - £100/£1200

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Discretionary - £100/£1200

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Savings/Big Spends - £200/£2500

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Total: £1430/month - £17,160/year

I think you could probably live on your own for £15k/year if you chose a cheaper place, practised frugality, and perhaps didn't build up much in savings.

(edited 6 years ago)

Reply 6

Little Popcorns

Depends whether you like camping... you can exist on pretty low levels of income but it’ll cut your life expectancy and make life an existence rather than a ‘life’. For having a life in modern society if you’re paying your own way £25,000.