I'm planning for a new place, on my own, in a few months time and am getting my financial situation in order. (There's going to be a spreadsheet and everything.)
I'm wondering what my monthly limit should be for someone living on their own and (probably) working from home?
£400 sounds reasonable to me but I'd thought I'd ask the Frugal pro's here.
Obviously there's other factors in play here (area of the UK being probably the one to affect rates the most) but an average figure/guess would be fine for now.
Minimum wage is £7.50 (although most places seem to throw £7.20 around a lot) so (monthly) take-home pay after taxes etc is:
£7.20 * 37.5 (hours) = ~£240 a week.
£7.50 * 37.5 (hours) = ~£250 a week.
There's plenty more stuff for me to dwell on in the coming months (council tax, gas, water, electricity, internet, etc) but I figured I'd ask about rent first and start saving for deposits etc.
I'm very unexperienced in this area and welcome any and all advice.
Thank you.
February 27, 2017 at 08:47PM
