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£500 a month left after bills and rent
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zak7654
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#1
Hi there - I’ve just joined a post graduate role at a large tech firm and will be renting in the local area to the main HQ office.
My net take home will be £1,975 and after I’ve paid my rent, bills, other finances; I will have £500 per month left over for food and disposable income.
Does this seem like an ‘ok’ amount left for a single 26 year old lad?
I will be living on my own I’m a 2 bed apartment I’m a town centre.
Just curious as to everyone else’ thoughts
Thanks
My net take home will be £1,975 and after I’ve paid my rent, bills, other finances; I will have £500 per month left over for food and disposable income.
Does this seem like an ‘ok’ amount left for a single 26 year old lad?
I will be living on my own I’m a 2 bed apartment I’m a town centre.
Just curious as to everyone else’ thoughts
Thanks
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Noble.x
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#2
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#2
Hmm yesss. What are your travel expenses taken from the £500 for that month? I doubt you’ll even have to budget if you’re going to be spending it mostly on food and necessities
Last edited by Noble.x; 2 months ago
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zak7654
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#3
(Original post by Noble.x)
Hmm yesss. What are your travel expenses taken from the £500 for that month? I doubt you’ll even have to budget if you’re going to eat spending it mostly on food and necessities
Hmm yesss. What are your travel expenses taken from the £500 for that month? I doubt you’ll even have to budget if you’re going to eat spending it mostly on food and necessities
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Noble.x
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#4
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#4
(Original post by zak7654)
I don’t - I work remotely from home.
I don’t - I work remotely from home.
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tinyperson
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#5
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#5
This is a list of tips.
Visit free or cheap museums and public art galleries instead. Register for and use a taste card at posh restaurants and at any classy upmarket pubs rather than pay the standard or full price there for your meals out. Same applies to your alcoholic and soft drinks, see if you can have some at home or with your food etc. Use a few different recommended popular cash back sites and also try to take full advantage of offered deals and discounts as much as possible in advance.
Make brief summary notes. You can ultimately aim to really save money on vacation abroad by taking more connecting flights, not using pricey car hire companies and avoiding full cost hotel rooms.
When selecting all family or other films on Netflix and so on, take note of the fee. Enquire about current discounts and offers for membership and the like.
Visit free or cheap museums and public art galleries instead. Register for and use a taste card at posh restaurants and at any classy upmarket pubs rather than pay the standard or full price there for your meals out. Same applies to your alcoholic and soft drinks, see if you can have some at home or with your food etc. Use a few different recommended popular cash back sites and also try to take full advantage of offered deals and discounts as much as possible in advance.
Make brief summary notes. You can ultimately aim to really save money on vacation abroad by taking more connecting flights, not using pricey car hire companies and avoiding full cost hotel rooms.
When selecting all family or other films on Netflix and so on, take note of the fee. Enquire about current discounts and offers for membership and the like.
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londonmyst
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#6
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#6
Yes, you'll be fine.
Try to save at least £125 a month towards an emergency fund or property deposit.
Draw up a weekly budget for food, booze, coffees, bar & pub visits, clothes, favourite hobbies, holidays and entertainment activities.
Try to homecook most of your weekly meals and snacks.
Rather than relying upon expensive takeaways, microwave meals, restaurant visits or unhealthy pre-packaged items.
Good luck!
Try to save at least £125 a month towards an emergency fund or property deposit.
Draw up a weekly budget for food, booze, coffees, bar & pub visits, clothes, favourite hobbies, holidays and entertainment activities.
Try to homecook most of your weekly meals and snacks.
Rather than relying upon expensive takeaways, microwave meals, restaurant visits or unhealthy pre-packaged items.
Good luck!
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ljr4
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#7
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#7
I think it's fine, depending where you live and how you budget. It doesn't sound like you're in London, in which case you should be fine. Particularly with no commuting costs. I think you should save some, as the person above mentioned. But don't leave yourself short. It's better to save less than keep dipping into your savings (a mistake I made too often). I agree with a weekly budget. £100 per week should get you food for the week and a night at the pub I would think?
Good luck with the job!
Good luck with the job!
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Pie-person
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#8
My question is.. why would you need a 2 bed flat at 26 when you’re single? Why not save and go for a studio?
Realistically, you should have at least another £300-400 more a month to work with on that take home.
Realistically, you should have at least another £300-400 more a month to work with on that take home.
Last edited by Pie-person; 1 month ago
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zak7654
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#9
(Original post by Pie-person)
My question is.. why would you need a 2 bed flat at 26 when you’re single? Why not save and go for a studio?
Realistically, you should have at least another £300-400 more a month to work with on that take home.
My question is.. why would you need a 2 bed flat at 26 when you’re single? Why not save and go for a studio?
Realistically, you should have at least another £300-400 more a month to work with on that take home.
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Pie-person
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#10
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#10
(Original post by zak7654)
I live in a very expensive area and studios only start at £795 so it’s only £100 odd quid difference.
I live in a very expensive area and studios only start at £795 so it’s only £100 odd quid difference.
Something’s not adding up. Just seems like a really low amount of discretionary income for the take home.
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toxicgamage56
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#11
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#11
(Original post by Pie-person)
£1975 take home less £500 means rent & bills of £1475. If the difference is £100, what are you spending almost £500 on if the rent is ~£1k?
Something’s not adding up. Just seems like a really low amount of discretionary income for the take home.
£1975 take home less £500 means rent & bills of £1475. If the difference is £100, what are you spending almost £500 on if the rent is ~£1k?
Something’s not adding up. Just seems like a really low amount of discretionary income for the take home.
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Pie-person
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#12
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#12
(Original post by toxicgamage56)
Bills innit
Bills innit
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toxicgamage56
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#13
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#13
(Original post by Pie-person)
Bills being half of rent is a bit unbelievable tbh.
Bills being half of rent is a bit unbelievable tbh.
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zak7654
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#14
(Original post by toxicgamage56)
In "a very expensive area" it might be mayn
In "a very expensive area" it might be mayn
Rent - £900
Bills and council tax (worst case projection for bills) - £400
Just a few bits I have on finance and other personal things - £175
Leaves £500
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toxicgamage56
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#15
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#15
(Original post by zak7654)
Hi
Rent - £900
Bills and council tax (worst case projection for bills) - £400
Just a few bits I have on finance and other personal things - £175
Leaves £500
Hi
Rent - £900
Bills and council tax (worst case projection for bills) - £400
Just a few bits I have on finance and other personal things - £175
Leaves £500
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