hoard
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Report Thread starter 6 years ago
#1
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.
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Pipsico
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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.





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randomgeeza
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(Original post by 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.

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Pretty much. Budget accordingly.
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hoard
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Report Thread starter 6 years ago
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Thank you very much guys
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