£500 a month left after bills and rent

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zak7654
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#1
Report Thread starter 2 months ago
#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
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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
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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
I don’t - I work remotely from home.
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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 feel like it’s more than an “ok” amount. You’ll be living good
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tinyperson
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#5
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#5
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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!
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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!
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Pie-person
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#8
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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.
Last edited by Pie-person; 1 month ago
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zak7654
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#9
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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.
I live in a very expensive area and studios only start at £795 so it’s only £100 odd quid difference.
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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.
£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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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.
Bills innit
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Pie-person
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#12
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#12
(Original post by toxicgamage56)
Bills innit
Bills being half of rent is a bit unbelievable tbh.
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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.
In "a very expensive area" it might be mayn
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zak7654
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#14
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#14
(Original post by toxicgamage56)
In "a very expensive area" it might be mayn
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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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
I was backing you all the way zak - knew you was being the truth.
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