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Is it possible financially?

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By (user no longer on site) OP   
over a year ago

To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc?

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By *ranny-CrumpetWoman
over a year ago

The Town by The Cross


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? "

Yes

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By (user no longer on site)
over a year ago

Yes...

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By (user no longer on site)
over a year ago

Depends.

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum


"Depends. "

This. You couldn't do it in York, but you might be able to do it in other places.

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By (user no longer on site)
over a year ago

i'd say not, that's less than £250 a week and you want to run a car, pay a mortgage, run a house, eat and have a social life? you'll be pushing it

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By (user no longer on site)
over a year ago

you do not eat well lol.

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By (user no longer on site)
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? "

Possibly...depends on the cost of the car, mortgage & bills I guess?

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By *litterbabeWoman
over a year ago

hiding from cock pics.

It is possible just not easy x

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By (user no longer on site)
over a year ago

I very much doubt you would get a mortgage if that was your income to be honest

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By (user no longer on site) OP   
over a year ago


"I very much doubt you would get a mortgage if that was your income to be honest"

I'm on less now and have been told I can borrow 60 grand. Yes I know that's not enough to get a place, but I can make up the difference. Within reason that is. Plus my days of going on nights out are over. So would save a lot that way.

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By (user no longer on site) OP   
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc?

Possibly...depends on the cost of the car, mortgage & bills I guess?"

Well car is paid for. It's all petrol/tax/insurance and mot, etc.

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By *isscheekychopsWoman
over a year ago

The land of grey peas and bacon

I'd say wait until you are a bit better off in terms of salary taking on a mortgage is a huge responsibility when I went for one I had to have £600 left after they had taken out the repayments and council tax...Im on quite a bit of money at the moment and I can't afford to run a car and pay the rent I do....I'd say wait until you are a bit more financially settled

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By (user no longer on site)
over a year ago

Yes, if you budget, live within your means and are disciplined, I did for many years

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By (user no longer on site)
over a year ago

To be honest, it's very difficult for one person to buy a house, no matter what the first 10 years are the hardest part, once you get through that hopefully income has gone up and mortgage stays roughly the same.

Look for a minimum of two bedrooms, may cost a little more than a one bed flat, but you can get a lodger in during those tough years which will help a hell of a lot, and if you are good at DIY buy something that is tired and run down, fix it up and make extra profit down the line.

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By (user no longer on site)
over a year ago

Spreadsheet.

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By (user no longer on site)
over a year ago

If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!

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By (user no longer on site) OP   
over a year ago


"Yes, if you budget, live within your means and are disciplined, I did for many years"

If I know a target is 100% achievable. I am always self disciplined.

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By (user no longer on site) OP   
over a year ago


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!"

£330 a month can feed a family down here

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By (user no longer on site)
over a year ago

£330 feeds me and my daughter for 3 months lol

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By (user no longer on site) OP   
over a year ago

This begs the question. Would 3 people who don't know each other that well go thirds on it and in time, by each other out. No need for a mortgage then. I doubt it though.

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By (user no longer on site)
over a year ago

Christ I pay £1150 a month before I can even eat. I think it's possible, but your not going to get much enjoyment out of existence.

I'd rather work more days a week/longer hours and really enjoy my time off.

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol"

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

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By (user no longer on site)
over a year ago

I manage on £250 a month, i don't have a mortgage but i pay rent, if the mortgage payments were no more than my rent i could afford a mortgage. I think the best advice given was to get a two bedroom place and get a lodger, you may find youre even better off than you are now if you do that.

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?"

For just yourself? I wouldn't say spoilt but its a reasonable budget. A lot of people feed a family on that.

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By (user no longer on site)
over a year ago


"I manage on £250 a month, i don't have a mortgage but i pay rent, if the mortgage payments were no more than my rent i could afford a mortgage. I think the best advice given was to get a two bedroom place and get a lodger, you may find youre even better off than you are now if you do that."

I meant £250 a week...doh!

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By *ScotsmanMan
over a year ago

ayrshire

as long as you dont need new shoes

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By (user no longer on site)
over a year ago

If you buy basics in bulk you could cut that down from £330 easily but I think it's reasonable.

But life is for living, I might get some flack but find somewhere to lodge and enjoy life a little,

I've spent the last year fire fighting debt and it's such a sapping existance being stuck in getting depressed.

It's been 7 years since I had a proper holiday and by the christ I'm going on one.

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By (user no longer on site)
over a year ago

[Removed by poster at 22/02/14 15:00:27]

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?"

she said 3 months with is £3.90 a day, for 2 people? seems very low to me

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

she said 3 months with is £3.90 a day, for 2 people? seems very low to me"

If you shop well its doable, but would you want to?

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By (user no longer on site)
over a year ago

If it is just you could you get a housemate or lodger to help with the mortgage x

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

she said 3 months with is £3.90 a day, for 2 people? seems very low to me

If you shop well its doable, but would you want to?"

I spend more than that on my daughters packed lunch's and pop a day

You would have to feed you kids on such cheap shit to live on £3.90 a day for two people, no I wouldn't want to

A bag of frozen chip and value range beans twice a day?

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By (user no longer on site)
over a year ago

I am spoiled.................I am very lucky!

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By (user no longer on site)
over a year ago

DONT go down the route of thinking that if you can afford rent, then you can afford a mortgage for the same amount!

if you rent and your boiler breaks, no problem, someone else will pay for a new one.

NOT the case if you have a mortgage!

you need to be able to pay the mortgage AND put money aside for unforeseen circumstances, if you are not able to do that, then maybe you need to wait a little longer.

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum

[Removed by poster at 22/02/14 15:11:33]

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By (user no longer on site)
over a year ago

Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike "

I deleted the post above but part of it was working out I spend about £100 a month, and that's eating well. £330 for one person would be Waitrose levels of shopping.

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

she said 3 months with is £3.90 a day, for 2 people? seems very low to me

If you shop well its doable, but would you want to?

I spend more than that on my daughters packed lunch's and pop a day

You would have to feed you kids on such cheap shit to live on £3.90 a day for two people, no I wouldn't want to

A bag of frozen chip and value range beans twice a day? "

Depends if you shop wisely I tend to shop in the evenings or on a Sunday afternoon and I love a bargain and the reduced sections and cook properly say do a roast on a Sunday and make the chicken last a few days even using the bones to make stock. Or mince three days mince and tatties, cottage pie and pasta bake. Plus if you shop in the likes of Aldi it is much cheaper and fruit and veg from market at the end of the day can get some bargains too. Have had to live on a budget it is hard but totally doable x

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By (user no longer on site)
over a year ago


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike "
Just looked at my card statement for a monthly period and I did spend £490 at Waitrose to include food booze and incidentals.

My car insurance works out at £1000 per year but it is a bit of a nice car!

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By (user no longer on site)
over a year ago

we spend around £500 per calendar month in Sainsbury's for 2 and a mini person.

We eat well (lots of fresh fish, nice fruits and so on), but do not have much that would be deemed a luxury.

maybe 8 bottles of wind a month, so knock of £64, and we still could not get down to the levels some people mentioned.

I dread to think what the total is when you add in what we spend at the local shops and so on

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car! "

£1000 a year at 56? Must be.

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 a year at 56? Must be."
It is interestingly after 55 the premiums start to rise! Old age is not for the faint hearted!!

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 a year at 56? Must be."

depends how many crashes he has had

he could be driving a banger and pay that if he's just come off a ban

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By (user no longer on site)
over a year ago

[Removed by poster at 22/02/14 15:22:13]

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By (user no longer on site) OP   
over a year ago


"DONT go down the route of thinking that if you can afford rent, then you can afford a mortgage for the same amount!

if you rent and your boiler breaks, no problem, someone else will pay for a new one.

NOT the case if you have a mortgage!

you need to be able to pay the mortgage AND put money aside for unforeseen circumstances, if you are not able to do that, then maybe you need to wait a little longer."

It's true what you say, but it depends that if you have a hectic social life and pay rent. You can pay a mortgage and save if it's the same price as you can put aside the difference and cut out on going out, etc,

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By (user no longer on site)
over a year ago


"It's true what you say, but it depends that if you have a hectic social life and pay rent. You can pay a mortgage and save if it's the same price as you can put aside the difference and cut out on going out, etc, "

That may sound like a swell idea now but it means you are pretty much imprisoned in that. Want to do anything? Tough, you can't afford to.

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By (user no longer on site)
over a year ago

You also earn around £80 a week tax free by renting a room to a lodger, that would changes your insurance etc but could help.

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By *ecor atorMan
over a year ago

York

Sadly, I wouldn't have thought it possible in or around York.

I live in a village on outskirts and believe minimum rental is around £800 to well in excess of 1k.

I hate going to the super, returned a couple of hours ago £152 lighter.

Did need washing tablets and other cleaning stuff so that always boosts the bill.

I think your car must be paid for so that helps.

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By (user no longer on site) OP   
over a year ago


"It's true what you say, but it depends that if you have a hectic social life and pay rent. You can pay a mortgage and save if it's the same price as you can put aside the difference and cut out on going out, etc,

That may sound like a swell idea now but it means you are pretty much imprisoned in that. Want to do anything? Tough, you can't afford to."

Well I know people who go out 4/5 times a week. So work that out over a month/year and it adds up to a lot of money. So just go out once a week and put that money aside and if anything goes wrong, you got back up then.

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By (user no longer on site)
over a year ago

remember also, THIS car may be paid for, but I am pretty sure it will not last the life of a mortgage, so will need replacing.

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 a year at 56? Must be.

depends how many crashes he has had

he could be driving a banger and pay that if he's just come off a ban "
3 points for speeding that are due to expire in June (Insures use the 5 year rule)

Last bump was in 1999

Just a nice car!

On the food front, I have a lady coming round tonight of the Fabster origin. I am cooking and we are having Scallops to start with in a chilli sauce with with tomatoes and onions (fried in the chilli)

Main Course is sea bass on a bed of noodles that have been sautéed in a satay sauce with green beans.

Desert............well I hope its me!

For wine I have gone off message as said lady only drinks red so couple of bottles of Ch Musar.

£55 all in!

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 a year at 56? Must be.

depends how many crashes he has had

he could be driving a banger and pay that if he's just come off a ban 3 points for speeding that are due to expire in June (Insures use the 5 year rule)

Last bump was in 1999

Just a nice car!

On the food front, I have a lady coming round tonight of the Fabster origin. I am cooking and we are having Scallops to start with in a chilli sauce with with tomatoes and onions (fried in the chilli)

Main Course is sea bass on a bed of noodles that have been sautéed in a satay sauce with green beans.

Desert............well I hope its me!

For wine I have gone off message as said lady only drinks red so couple of bottles of Ch Musar.

£55 all in! "

The main sounds lovely, we had sea bass last night.

however, i am not a fan of scallops, swap them for prawns and I will come too

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By (user no longer on site)
over a year ago


"My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 a year at 56? Must be.

depends how many crashes he has had

he could be driving a banger and pay that if he's just come off a ban 3 points for speeding that are due to expire in June (Insures use the 5 year rule)

Last bump was in 1999

Just a nice car!

On the food front, I have a lady coming round tonight of the Fabster origin. I am cooking and we are having Scallops to start with in a chilli sauce with with tomatoes and onions (fried in the chilli)

Main Course is sea bass on a bed of noodles that have been sautéed in a satay sauce with green beans.

Desert............well I hope its me!

For wine I have gone off message as said lady only drinks red so couple of bottles of Ch Musar.

£55 all in!

The main sounds lovely, we had sea bass last night.

however, i am not a fan of scallops, swap them for prawns and I will come too

"
The scallops are in lime juice at the moment.............so its a done deal! In any event they are an aphrodisiac ( I hope) us old timers need all the help you know!

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By *ecor atorMan
over a year ago

York


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike Just looked at my card statement for a monthly period and I did spend £490 at Waitrose to include food booze and incidentals.

My car insurance works out at £1000 per year but it is a bit of a nice car! "

£1000 on car insurance????

I think you must have an un spent ban and or lots of points. I pay less than half that on my brand spanking new Jaguar.

Just bought Mrs Ator a new Mini Cooper S and that's just under £200 per year.

Change broker!!

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By *ecor atorMan
over a year ago

York


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike Just looked at my card statement for a monthly period and I did spend £490 at Waitrose to include food booze and incidentals.

My car insurance works out at £1000 per year but it is a bit of a nice car! "

£1000 on car insurance????

I think you must have an un spent ban and or lots of points. I pay less than half that on my brand spanking new Jaguar.

Just bought Mrs Ator a new Mini Cooper S and that's just under £200 per year.

Change broker!!

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By (user no longer on site)
over a year ago


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike Just looked at my card statement for a monthly period and I did spend £490 at Waitrose to include food booze and incidentals.

My car insurance works out at £1000 per year but it is a bit of a nice car!

£1000 on car insurance????

I think you must have an un spent ban and or lots of points. I pay less than half that on my brand spanking new Jaguar.

Just bought Mrs Ator a new Mini Cooper S and that's just under £200 per year.

Change broker!!"
Do you mean go compare? It is what it is!

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum

I see the rich people are coming out to one up each other.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

If I were in such a position, I'd lose the car and buy a bicycle and get up earlier. I'd eat basic but healthy foods and cook a lot from scratch. It wouldn't be easy but is achievable but also tiring, the constant penny saving and juggling of priorities. Needless to say that mortgage interest rates were once at 15%. Don't think they won't increase. You need to build in some slack from your income over outgoings to pay for unexpected items and expenses.

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By *ecor atorMan
over a year ago

York


"I see the rich people are coming out to one up each other. "

Not rich, just slightly over 50 ??

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By (user no longer on site)
over a year ago

If you are paying the same amount of the potential mortgage in rent already and managing, then it can be done.

Word of warning - Interest rates will be rising!!!!!!!

If you are going to get a mortgage, get one now, on a low fixed rate, and an amount you can afford.

Sara (Chanelnumber 5)

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By (user no longer on site)
over a year ago

Depends on the mortgage size and how much you eat and what car you drive lol

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By (user no longer on site) OP   
over a year ago

Would going halves or thirds with randoms help? Saves getting a mortgage then and people can by each other out. If they aren't happy. Secondly though, would people do this? I doubt it.

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By (user no longer on site) OP   
over a year ago


"If you are paying the same amount of the potential mortgage in rent already and managing, then it can be done.

Word of warning - Interest rates will be rising!!!!!!!

If you are going to get a mortgage, get one now, on a low fixed rate, and an amount you can afford.

Sara (Chanelnumber 5)"

I wouldn't know as I may say "I can afford that" and sign for it and then discover costs like tv license, bills, etc.

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By *ophieslutTV/TS
over a year ago

Central

It would depend on what mortgage you'd get, and thus the repayments.

If someone ran a low cost maintenance car, which could be one of their biggest costs, after mortgage, then I don't see why not.

A longer mortgage period, though more expensive in total, would have lower monthly repayments.

Someone having issues with spare cash may be able to take in a lodger, tax free, to help meet their bills etc.

More frugal living is possible in so many ways. Grow some of your own food - I grew tomatoes year round in my old flat's windows, for example.

Clothing doesn't need to be expensive, if you don't need upto the minute fashion from expensive stores.

Singly guys may lose out, if they want to visit swingers clubs, but otherwise there are many ways to cut costs.

Poundshops etc sell many branded goods that cost more in the supermarkets, if you're ok with short use by dates. Beware, all is not a bargain there, so it pays to shop wisely.

Charity shops can be a big help too.

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By (user no longer on site)
over a year ago

Your spoilt, I can feed two for £80 a month

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By *opping_candyWoman
over a year ago

West Yorkshire


"Would going halves or thirds with randoms help? Saves getting a mortgage then and people can by each other out. If they aren't happy. Secondly though, would people do this? I doubt it. "

You mean three relative strangers putting cash together to buy a house outright? I know I wouldn't.

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By (user no longer on site) OP   
over a year ago


"Would going halves or thirds with randoms help? Saves getting a mortgage then and people can by each other out. If they aren't happy. Secondly though, would people do this? I doubt it.

You mean three relative strangers putting cash together to buy a house outright? I know I wouldn't. "

Not complete strangers. Like friend of a friend maybe?

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By (user no longer on site)
over a year ago

It's not the monthly mortgage payments now you have to worry about - but how much they'll be when rates go up - probably late next year.

That - and the initial deposit!

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

she said 3 months with is £3.90 a day, for 2 people? seems very low to me

If you shop well its doable, but would you want to?

I spend more than that on my daughters packed lunch's and pop a day

You would have to feed you kids on such cheap shit to live on £3.90 a day for two people, no I wouldn't want to

A bag of frozen chip and value range beans twice a day? "

Never bought frozen chips, grow my own potatoes, and very do-able, I just don't waste money on junk like fizzy pop and biscuits

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By (user no longer on site) OP   
over a year ago


"It's not the monthly mortgage payments now you have to worry about - but how much they'll be when rates go up - probably late next year.

That - and the initial deposit! "

That's not an issue

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By *opping_candyWoman
over a year ago

West Yorkshire


"If you are paying the same amount of the potential mortgage in rent already and managing, then it can be done.

Word of warning - Interest rates will be rising!!!!!!!

If you are going to get a mortgage, get one now, on a low fixed rate, and an amount you can afford.

Sara (Chanelnumber 5)

I wouldn't know as I may say "I can afford that" and sign for it and then discover costs like tv license, bills, etc. "

You need to work out those costs before you even think about signing on the dotted line. How much will your tv/internet be, water rates, other utilities. What will you do if the roof starts to leak and house insurance doesn't cover it? If you smash the screen on your mobile? I just paid £50 to get mine fixed.

I've had a mortgage for almost 10 years and whilst I love knowing it's my place, it has been far from easy much of the time, and there are definitely moments when I wish the repairs were someone else's problem.

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By (user no longer on site)
over a year ago


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!"

330 tesco feed a family at aldi for that

160 utility way over top I think my elec bill for quarter was only 150 4 bed house

Car ins £78 what are you driving or you have points lol

But u didn't add peteol

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By *isscheekychopsWoman
over a year ago

The land of grey peas and bacon


"Where ever do you get £330 on Tesco from...?

I can spend on ave average 40 a week on food and eat well

If your car insurance is also £78 I suggest a change or a bike Just looked at my card statement for a monthly period and I did spend £490 at Waitrose to include food booze and incidentals.

My car insurance works out at £1000 per year but it is a bit of a nice car! "

Maybe you earn a wage that allows you afford the nice things in life...which is great

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By *opping_candyWoman
over a year ago

West Yorkshire


"Would going halves or thirds with randoms help? Saves getting a mortgage then and people can by each other out. If they aren't happy. Secondly though, would people do this? I doubt it.

You mean three relative strangers putting cash together to buy a house outright? I know I wouldn't.

Not complete strangers. Like friend of a friend maybe? "

What if you or one of the others wants to move out before anyone is in a position to buy them out? Maybe they meet a partner and want to move in together or get a job far away.

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By (user no longer on site)
over a year ago

I'd avoid a mortgage Iv been thinking of selling up go back renting . If anything goes wrong when u own uv got to find money , Iv a relative lived 12 month no boiler because had no money . If she rented it's landlords prob !

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By (user no longer on site)
over a year ago

I thought you were going to quit your job last week to start your own business?

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By *opping_candyWoman
over a year ago

West Yorkshire


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!

330 tesco feed a family at aldi for that

160 utility way over top I think my elec bill for quarter was only 150 4 bed house

Car ins £78 what are you driving or you have points lol

But u didn't add peteol"

It's not just electricity though, gas and water?

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum


"I'd avoid a mortgage Iv been thinking of selling up go back renting . If anything goes wrong when u own uv got to find money , Iv a relative lived 12 month no boiler because had no money . If she rented it's landlords prob ! "

Not all landlords are scrupulous unfortunately.

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By (user no longer on site)
over a year ago


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?"

Well if you ask the DWP,£3 per day for a couple is regarded as over spending.

Then again most of them get free drinks etc.while at work.

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By *ecor atorMan
over a year ago

York

There may always be unexpected bills that arnt covered by insurance etc.

Although it's been a exceptionally mild nice winter. Last week we had very high winds that wrecked nearly a dozen fence panels and uprooted 3 trees. It's cost a fortune to put right. Pointless contacting insurance bods, they'll be busy with the southerners!

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By (user no longer on site)
over a year ago


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!"

all very well budgeted, however, where is the cost of the new tyres for the car?

boiler when it packs up?

windows and doors when they fall out/need renewing?

cooker when it packs up?

and so on

and so on

and so on lol

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By (user no longer on site)
over a year ago

You can eat for a lot less than £330 a month, on job seekers you get £260 a month to feed, clothe, pay utilities and transport yourself around.

Stop impulse buying and plan your meals so you buy only what you need.

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By *isscheekychopsWoman
over a year ago

The land of grey peas and bacon


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!

all very well budgeted, however, where is the cost of the new tyres for the car?

boiler when it packs up?

windows and doors when they fall out/need renewing?

cooker when it packs up?

and so on

and so on

and so on lol"

Don't forget the roof my parents have just had to replace their roof and it's a listed building I dread to think how much that cost them

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By (user no longer on site)
over a year ago

If I was in your position... and I have been... I would rent the cheapest, most reasonable place you can find, ideally one that perhaps includes bills within the rent. Then either save, or say fuck it and spend it on having a good time.

When I think of all the Good times that I wasted having Good Times!!

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By (user no longer on site)
over a year ago

i will add my actual spend per month next to yours, so you can compare.


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)£380 (rent)

Council Tax £96 (based on average)£100

Food for one person £330 (Tesco average spend)generally £120-180

Utilities £160 £50

House Insurance £25 get it in with the rent, but it works out @ £15

Car Insurance £78 £40 (but thats my bike insurance as well as car)

Car Tax £12 £20

Total £1,101 £785

"

as has been said, however, you havent included your petrol going to work and back, and i can spend upwards of £50 a week on that, so yes, it is actually quite possible to live on what you have, but it wouldnt be a great life, more likely surviving rather than living

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By (user no longer on site)
over a year ago


"You can eat for a lot less than £330 a month, on job seekers you get £260 a month to feed, clothe, pay utilities and transport yourself around.

Stop impulse buying and plan your meals so you buy only what you need."

and buy smart.

my freezer is FULL of things with woopsie stickers on.

never buy anything that goes in the freezer that isnt almost out of date.

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By (user no longer on site)
over a year ago


"It's not the monthly mortgage payments now you have to worry about - but how much they'll be when rates go up - probably late next year.

That - and the initial deposit!

That's not an issue "

The deposit may not be - but if rates go up your payments will soon become a problem.

Even a fixed rate comes to an end at some point - and then the shit hits the fan!!

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By *ittle_brat_evie!!Woman
over a year ago

evesham


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

Well if you ask the DWP,£3 per day for a couple is regarded as over spending.

Then again most of them get free drinks etc.while at work."

Water is free. I'm sure your workplace has water as well

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By (user no longer on site)
over a year ago


"It's not the monthly mortgage payments now you have to worry about - but how much they'll be when rates go up - probably late next year.

That - and the initial deposit!

That's not an issue

The deposit may not be - but if rates go up your payments will soon become a problem.

Even a fixed rate comes to an end at some point - and then the shit hits the fan!! "

surely thats the time you keep dancing around mortgages, always on a fixed rate?

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester


"

My car insurance works out at £1000 per year but it is a bit of a nice car! "

Good god..... how much would it be if you had all of it?

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By (user no longer on site)
over a year ago


"It's not the monthly mortgage payments now you have to worry about - but how much they'll be when rates go up - probably late next year.

That - and the initial deposit!

That's not an issue

The deposit may not be - but if rates go up your payments will soon become a problem.

Even a fixed rate comes to an end at some point - and then the shit hits the fan!!

surely thats the time you keep dancing around mortgages, always on a fixed rate?"

Good in theory!

But say you're on a 2 yr fix now at 3.99%

By the time you're due to renew - if the base rate has risen to 1.5% you're lowest likely fox will be 5-5.99%.

And then two years later if the base has risen again...........

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester


"I very much doubt you would get a mortgage if that was your income to be honest"

Totally irrelevant, but it reminded me.... I was earning £3.20 per hour when I bought my first house.

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By (user no longer on site)
over a year ago

Guess me and the wife are lucky we have a mortgage and a car each and still go out every week didn't realise things are that bad

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By (user no longer on site)
over a year ago

Write down everything you currently spend for a couple of weeks and it will probably inform you more than us guessing. Don't forget things like council tax and then make some assumptions on utility bills assuming you are a home owner, a mortgage at interest rates of at least a couple of % more than today, 5% of the property value in annual repairs and then think if it is really worth it.

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By (user no longer on site)
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? "
yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

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By (user no longer on site) OP   
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed"

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on.

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By (user no longer on site)
over a year ago

Another idea is to buy a cheap house at an auction stick to your limit though and have a fixer upper depends on how good you are with your hands this way you can have a project and hopefully make some money on it x

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on. "

The another option is buy one up there, rent it and then use the income to top up your salary.

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By (user no longer on site) OP   
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on.

The another option is buy one up there, rent it and then use the income to top up your salary."

How much would people pay though?

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on.

The another option is buy one up there, rent it and then use the income to top up your salary.

How much would people pay though? "

You've got the internet.

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By (user no longer on site)
over a year ago


"If there are no outstand non secured debts such as car loans or Credit cards how would this stack up

Monthly Disposable Income after Tax

£1,066

Deduct

Mortgage £400 (based on average process in OP location)

Council Tax £96 (based on average)

Food for one person £330 (Tesco average spend)

Utilities £160

House Insurance £25

Car Insurance £78

Car Tax £12

Total £1,101

So no is my guess!"

Plus beer £500 per month!!!!! And man cannot live on beer alone......so there is the inevitable club nights £250. So something would have to give............the food probably

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By *ee VianteWoman
over a year ago

Somewhere in North Norfolk


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on.

The another option is buy one up there, rent it and then use the income to top up your salary.

How much would people pay though?

You've got the internet."

Oooh harsh! But fair.

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By (user no longer on site)
over a year ago


"I see the rich people are coming out to one up each other. "
I am a working class lad just worked hard and found that the harder I work the luckier I got!

Rich? No just have been wise!

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By *ee VianteWoman
over a year ago

Somewhere in North Norfolk


"I see the rich people are coming out to one up each other. I am a working class lad just worked hard and found that the harder I work the luckier I got!

Rich? No just have been wise!"

Ah, so people who have bad luck are lazy... ok, gotcha.

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By (user no longer on site)
over a year ago


"I see the rich people are coming out to one up each other. I am a working class lad just worked hard and found that the harder I work the luckier I got!

Rich? No just have been wise!

Ah, so people who have bad luck are lazy... ok, gotcha."
Did I say that? I merely quoted from my experiences. You seem to have misunderstood. If someone has been unlucky with health its bad luck. Stop looking for angst and chill!

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By (user no longer on site)
over a year ago


"I see the rich people are coming out to one up each other. I am a working class lad just worked hard and found that the harder I work the luckier I got!

Rich? No just have been wise!"
you make your own luck in life, the harder you work the easier it comes!

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

If you have a decent deposit and your job is secure then go for it.

You did mention wanting to leave your job though so buying a house and setting up a self employed business is not the best mix. It will be more difficult to get a mortgage until you have a couple of years of profitable accounts behind you.

You can keep bills low by putting on a jumper instead of having the heating on all the time and shopping wisely as mentioned above. But you really do need to keep some cash available for repairs. They always come up when you can least afford them. You don't have to do everything at once.

Rate rises are the most difficult things to manage. I remember the late 80s and early 90s when I saw friends taking on third jobs in order to keep up with the interest rates. I watched as others lost their homes. I benefited from the slump and bought when property was cheap after all the repossessions but we currently have a rising market.

Try and avoid flood plains.

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By (user no longer on site) OP   
over a year ago


"To earn £12,800 a year after tax and run a car as well as getting a mortgage, whilst paying bills, etc? yes, if you are happy to live is some parts of Co Durham. You can pick a house up for £20-30k. So Approx £6 p/month for every £1k borrowed

Any jobs going in that location? Would go for it now if there was as that sort of money is easy to get my hands on.

The another option is buy one up there, rent it and then use the income to top up your salary."

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true.

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By (user no longer on site)
over a year ago


"

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true. "

The smart thing to do is get a mortgage for another 30 grand and buy two, rent them both out and use the earnings to pay the mortgage, then buy more and build an empire.

A lot of work and a lot of debt, but self financing profit making debt is eventually good.

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By *he-Hosiery-GentMan
over a year ago

Older Hot Bearded Guy


"I very much doubt you would get a mortgage if that was your income to be honest"

Depends on the LTV and the size of your deposit.

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By (user no longer on site) OP   
over a year ago


"

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true.

The smart thing to do is get a mortgage for another 30 grand and buy two, rent them both out and use the earnings to pay the mortgage, then buy more and build an empire.

A lot of work and a lot of debt, but self financing profit making debt is eventually good. "

Sounds like a plan. Although that maybe a tad stressful for my liking. So prefer to buy one and just live there. To me it's more of a big decision. Rather than a stressful one.

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester


"

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true. "

Good god man, don't be so feckin' ridiculous! You don't live in a house you only paid £30k for.... you rent it to poor people!

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By (user no longer on site) OP   
over a year ago


"

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true.

Good god man, don't be so feckin' ridiculous! You don't live in a house you only paid £30k for.... you rent it to poor people! "

Houses look good, even at that price. So why not live there? Yes it's a great place to start if you want to start an empire, but it's a nice place to live too.

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By *imiUKMan
over a year ago

Hereford

Why spend your leisure bereft of pleasure

Amassing treasure why scrape and save?

Why look so canny at ev'ry penny?

You'll take no money within the grave

Landlords and gentry with all their plenty

Must still go empty where 're they're bound.

So to my thinking we'd best be drinking.....

etc.

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By (user no longer on site)
over a year ago


"Why spend your leisure bereft of. "

There is always a gamble you have to figure out how long you are going to live and aim at a balance point good times and enough left over to build a future that will give you good times for life and a well attended funeral

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By (user no longer on site) OP   
over a year ago


"

So if someone had £20/£30 grand. They can but a house and wouldn't need a mortgage? Sounds too good to be true.

Good god man, don't be so feckin' ridiculous! You don't live in a house you only paid £30k for.... you rent it to poor people! "

2 things I am poor and also you saying you'd class someone as poor for loving there. Instead of people just looking after their money?

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By *imiUKMan
over a year ago

Hereford


"Why spend your leisure bereft of.

There is always a gamble you have to figure out how long you are going to live and aim at a balance point good times and enough left over to build a future that will give you good times for life and a well attended funeral"

I should hope that the number of people that come to wake your corpse is no reflection on your material wealth.

I believe you can get a cardboard or a willow casket now. Set me alight and bung me on the soil. I quite like that idea.

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By *ebsCoupleCouple
over a year ago

Orpington/london


"£330 feeds me and my daughter for 3 months lol

£330 divided by 28days which is the salary month is £10.77 perday............seems low to me or am I spoilt?

she said 3 months with is £3.90 a day, for 2 people? seems very low to me"

Low income person are expected to spend a maximum of £2.50 a day on food.

Which can be done not easily but can be.

If I can knock up the families main meal for less than a £5, feeding 4 with left overs anyone can.

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By (user no longer on site)
over a year ago


"I should hope that the number of people that come to wake your corpse is no reflection on your material wealth.

"

I was looking to that more important wealth you get from building friendships rather than possessions.

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By (user no longer on site)
over a year ago

In all this there is only one real stumbling block, that is persuading someone to lend you the 95% of the price on a house near your work. If you can get the mortgage you will find a way to pay it even if that means lodgers and 3 jobs for a while.

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By *uslaffMan
over a year ago

manchester


"

My car insurance works out at £1000 per year but it is a bit of a nice car!

Good god..... how much would it be if you had all of it?"

Ha Ha,genius.....love it

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By (user no longer on site) OP   
over a year ago


"In all this there is only one real stumbling block, that is persuading someone to lend you the 95% of the price on a house near your work. If you can get the mortgage you will find a way to pay it even if that means lodgers and 3 jobs for a while. "

95%, try 75% . That doesn't bother me. Well jobs wise it will as I struggle to get one, let alone 2

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