How do most people afford stuff?

Reply 20

earn more money then

Original post by mozzarella

This is not a rant, I'm genuinely curious.

So I'm working full time in a decent graduate job. My salary isn't great, but it's not bad either.
A large proportion of my salary is taxed and after that I need to pay council tax too which is another one and a half grand knocked off.
I live in a one bed flat so I have to pay my rent and my bills by myself which is over a third of my salary after tax. People tell me that I should share to save money, but I've done that before and I can't share with anyone. I just feel if I'm working so hard I deserve my own place.
I also have other necessities to pay for, food is very expensive especially as I eat healthy food and not rubbish. I have to pay for my mobile contract, contact lenses, clothes, public transport and I'm working on getting a car. A car will be even more damaging for my savings as I need to consider the price of the car, insurance and petrol costs. I have many more responsibilities to pay for, and after those I am a human being so sometimes I just want to spend to enjoy. Like get a coffee once a week.

I am literally saving just £20 a month right now. Personally, I don't think money is everything, but for all my hard work it would be nice to have some savings so I can save up for a deposit on a house and settle down one day(I think kids are out of the question right now).

How do other people do it? Do they all still live with their parents until they're 30? Also another thing, I don't give to charity as most of my council tax already goes on that.

It seems that either you live in a luxury penthouse with views to the Shard or your salary is very low for the cost of living in your area. Maybe look at applying to other jobs if that is the case.

Reply 22

starsofthevoid

3

Original post by mozzarella

This is not a rant, I'm genuinely curious.

So I'm working full time in a decent graduate job. My salary isn't great, but it's not bad either.
A large proportion of my salary is taxed and after that I need to pay council tax too which is another one and a half grand knocked off.
I live in a one bed flat so I have to pay my rent and my bills by myself which is over a third of my salary after tax. People tell me that I should share to save money, but I've done that before and I can't share with anyone. I just feel if I'm working so hard I deserve my own place.
I also have other necessities to pay for, food is very expensive especially as I eat healthy food and not rubbish. I have to pay for my mobile contract, contact lenses, clothes, public transport and I'm working on getting a car. A car will be even more damaging for my savings as I need to consider the price of the car, insurance and petrol costs. I have many more responsibilities to pay for, and after those I am a human being so sometimes I just want to spend to enjoy. Like get a coffee once a week.

I am literally saving just £20 a month right now. Personally, I don't think money is everything, but for all my hard work it would be nice to have some savings so I can save up for a deposit on a house and settle down one day(I think kids are out of the question right now).

How do other people do it? Do they all still live with their parents until they're 30? Also another thing, I don't give to charity as most of my council tax already goes on that.

Make a year or two year plan, and share a place with people. Just for this year or two, focus on savings and investments. Maybe coffee once a month only. Never compromise on the healthy food, and cooking it yourself is usually cheaper. It'll be very tough for a while. Use a pair of glasses instead of lenses every few months, and go back after a year or two if you feel like it. Take a progress check every three months or so. Again, if you want a better lifestyle, you will have to have enough self control for a few years atleast, and focus on getting a promotion. Just in case you don't, save up until you can get a house or atleast afford mortgage for a reasonable few months (incase you can't find tenants in between or they dont pay or something). You dont want to find yourself in debt no matter what. All the best, i hope you do well whatever you may choose to do!

Reply 23

Mustafa0605

21

You said you are a graduate. Many graduates chose to live at home with their parents and that means no rent and free food and no utility bills. Then that graduate salary of 20-25k while living at home makes you have lots of disposable income.
If you can’t do this I guess you should do a higher degree qualification whether that’s a masters or phd if you don’t like your salary

Marrying into wealth

OP

Thanks for all the responses. It seems like I've entered the real world and I am reluctant to cut costs for my own comfort. I am aware that an increasing number adults live with their parents now, and I totally understand it. We simply can't compare house prices for this generation to the previous generation.
I seemed to always dream of being rich after I finish university and live as an independent man. I know a lot of people my age are still reliant on their parents, and my parents do want to chip in to help me but I keep refusing as it's a sign of weakness for me.

I think the other option is to find a partner who is working and split the costs. In this day and age, a double income is increasingly more important unless you have a very high pay job. I've been single for a year now, broke up with the last one because we finished university. Now I wonder how people manage with children.

Reply 26

Bang Outta Order

20

benefits.

debt.

suffering till their next cheque.

dont be fooled!

Reply 27

doodle_333

19

I have a **** job but also live in a cheap place so balances out... also just passed my test + got 1st car. I save around 400+ a month. And that's making no effort. I eat well, I eat out often, I have several money consuming hobbies, buy myself stuff if there's something I want/need...

You need to work out where your money goes and where your priorities are. I like good food, I'm never gonna be happy to seriously cut back on that spending. I am happy to cycle commute to work, have a cheap Giffgaff phone contract, always make a packed lunch etc. I never feel I'm denying myself (although I being sensible and saving for a house rather than buying my dream bike....). I think the key for me is to really think how happy each expenditure makes you, I never enjoy grabbing a meal deal or something for lunch so why spend £20 a week on them? I do really enjoy going out for dinner so I go regularly.

Reply 28

bingbangbong11

9

my dad is rich so I don't pay for anything

Reply 29

mozzarella

OP

3

Original post by doodle_333

I have a **** job but also live in a cheap place so balances out... also just passed my test + got 1st car. I save around 400+ a month. And that's making no effort. I eat well, I eat out often, I have several money consuming hobbies, buy myself stuff if there's something I want/need...

You need to work out where your money goes and where your priorities are. I like good food, I'm never gonna be happy to seriously cut back on that spending. I am happy to cycle commute to work, have a cheap Giffgaff phone contract, always make a packed lunch etc. I never feel I'm denying myself (although I being sensible and saving for a house rather than buying my dream bike....). I think the key for me is to really think how happy each expenditure makes you, I never enjoy grabbing a meal deal or something for lunch so why spend £20 a week on them? I do really enjoy going out for dinner so I go regularly.

Are you living by yourself or sharing?

Reply 30

doodle_333

19

Original post by mozzarella

Are you living by yourself or sharing?

With my boyfriend.

Reply 31

ebam_uk

20

Original post by doodle_333

With my boyfriend.

Nice, you might wanna make sure u marry someone who is rich!

Reply 32

squeakysquirrel

20

Original post by mozzarella

This is not a rant, I'm genuinely curious.

So I'm working full time in a decent graduate job. My salary isn't great, but it's not bad either.
A large proportion of my salary is taxed and after that I need to pay council tax too which is another one and a half grand knocked off.
I live in a one bed flat so I have to pay my rent and my bills by myself which is over a third of my salary after tax. People tell me that I should share to save money, but I've done that before and I can't share with anyone. I just feel if I'm working so hard I deserve my own place.
I also have other necessities to pay for, food is very expensive especially as I eat healthy food and not rubbish. I have to pay for my mobile contract, contact lenses, clothes, public transport and I'm working on getting a car. A car will be even more damaging for my savings as I need to consider the price of the car, insurance and petrol costs. I have many more responsibilities to pay for, and after those I am a human being so sometimes I just want to spend to enjoy. Like get a coffee once a week.

I am literally saving just £20 a month right now. Personally, I don't think money is everything, but for all my hard work it would be nice to have some savings so I can save up for a deposit on a house and settle down one day(I think kids are out of the question right now).

How do other people do it? Do they all still live with their parents until they're 30? Also another thing, I don't give to charity as most of my council tax already goes on that.

You say you won't share a flat - but it would cut your costs in half. Clothes - charity stores are your friends and eBay. Most of my clothes come from there. Mobile phone - if you are at the end of your contract then you can get great deals. I pay £10 a month for 4G and unlimited calls and texts - suits me. Get a bicycle - not a car - cars will bleed you to poverty. Food is not expensive - learn to make soups - cheap to make and mega healthy. Shop at the end of the day to get the bargains. Look at your monthly subscriptions - eg Netflix, Spotify, broadband etc. Do you really need them and can you get cheaper deals. Also look at USwitch to get cheaper tariffs on utilities. Oh and you do know that if you are a single person, you get a discount on your council tax

Reply 33

Tabathaxx

14

basically you cant afford to live on your own but feel you "deserve to" ... not a great mentality to start with compounded by the strange idea that council tax somehow goes to charity .. no it goes to fund council services the clue is kinda in the name on that one.

reality check needed if you want to save more you need to spend less .. flat share, move back home , shop cheaper and less coffees etc out ... or all of the above if you have to . that is adult life I'm afraid and that's how we afford stuff !

Reply 34

doodle_333

19

Original post by ebam_uk

Nice, you might wanna make sure u marry someone who is rich!

Wtf

Reply 35

ebam_uk

20

Original post by doodle_333

Wtf

Well means OP might have more spending money

Reply 36

Yelena Icefaren

9

Phone, clothes, food, lenses. I'm sure you can cut down on the cost of all of these. Eg I have a £5 a month rolling contract with a £150 phone, I spend £25 a week on food and it is as healthy as I can be with diet issues, clothes are the kind of thing you only need when the old ones wear out or don't fit anymore and since you're an adult I doubt you grow out of them. Lenses are expensive I know but try wearing glasses one or two days a week, or buying cheaper lenses online. Many easy ways to cut your bills, and yes living at home is a good way to save for a deposit

Reply 37

sophia5892

20

@mozzarella

I guess sit down and look through your bank statements and see where the money is going? It’s so hard to judge when you haven’t said what you’re earning or what your rent etc is.

For me, each month my expenses are:
£750 all inclusive rent (shared flat in London Zone 1)
£45 transport to work
£8 mobile phone
£10 charity
£250 minimum to savings

I don’t pay my car monthly cos I pay insurance etc in a lump sum annually but split across 12 months - MOT, repairs, tax, insurance, petrol, breakdown cover, would equal about £120 a month maximum.

I don’t really know where the rest of my money goes - I’m quite lucky that I don’t need to keep to a strict budget. I do all my spending on my credit card. Then on pay day I pay it all off which tells me how sensible I need to be for the next month 😂

Food is probably the worst for me. I don’t eat that cheaply these days and in the last month I’ve spent over £100 on takeaway (not just for me!).

But then as a student I was used to living off less than half what I earn these days, admittedly in Newcastle where it’s significantly cheaper to rent, but I’m probably used to living cheaply without necessarily intending to.

Reply 38

ch0c0h01ic

18

Original post by mozzarella

Thanks for all the responses. It seems like I've entered the real world and I am reluctant to cut costs for my own comfort.

Most people can save £100s if not £1000s a year by making subtle changes in how they spend their money, without sacrificing their "comfort" (eg; shopping around, buying second hand, going for a cheaper brand, cutting back on services they aren't using, etc). I would be surprised if you were any different.

Cutting back on unnecessary expenditure that doesn't directly contribute to your well being or happiness can have the opposite effect (ie; being able to spend more on the things that do matter, financial security).

I am aware that an increasing number adults live with their parents now, and I totally understand it. We simply can't compare house prices for this generation to the previous generation.

Comparing home ownership to previous generations is a complicated issue.

I think a lot of people are quick to cheapen their parent's achievements with regards to home ownership. Sure house prices were substantially cheaper, but then so were wages. It may have been easier to get a mortgage but interest rates were far higher. My parents once paid 15% APR on their mortgage, over 6x higher than what I pay!

I would argue that one of the greatest obstacles to home ownership currently is consumerism and lifestyle inflation.

I seemed to always dream of being rich after I finish university and live as an independent man. I know a lot of people my age are still reliant on their parents, and my parents do want to chip in to help me but I keep refusing as it's a sign of weakness for me.

The majority of genuinely rich people didn't get that way soon after university. It took decades of self improvement, consistently spending less than they earn, and investing in their own skills, and in traditional investments.

A lot of people rush into moving out, often at the expense of their savings and financial security. Do not get me wrong, having your own place is great, however it is a luxury, and is far more expensive than sharing (with parents or with friends).

I personally would prefer to sacrifice my independence slightly (by sharing or moving back home), and be in a position to buy a house much sooner, than rent for years and pay £1,000s every year to a landlord.

Reply 39

sorryforgotpass

10

My budget:

Rent and ALL bills, £4k. Single room in shared house.
Food, £1k. Don't eat meat and always cook myself.
Hobbies, transport and luxuries (muay thai, cycling stuff, electronics), £2k max (this was basically 0 until recently)

Not in contact with parents, would be able to buy a home with mortgage at 21 if I wanted to. If you want something you have to make sacrifices, so sick of hearing excuses. Parents said the same **** when I was growing up about the world being some impossible wasteland, no you just spend all your money when you don't need to. Obviously this isn't a luxury lifestyle but i's not mean to be.

(edited 4 years ago)

How do most people afford stuff?

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you