A single person happily could live on £7,000 a year after tax and mortgage etc. Although differing council tax bands cause a hit- I was sort ofmoney, so I did for years! I always had a car too ( secondhand 190e that cost me £550 and I drove it for 5 years). At times I had less than £7,000 pa to live on. I don't smoke and don't relay drink so that's a good help. Also when I needed a 3 piece suite I bought off ebay secondhand. People get by on about 60 quid a week at times- the problem with limited income is there's no emergency money to replace stuff or cope with an unexpected bill etc. Also you can't take advantage of buy two get third free etc
OP stop living in a dream land ,blimy most peoples Council-Tax,Water and Gas/Electric will come to more than half of that ,before you factor in food ,TV Licence ,insurance etc,
My CT alone is £1,300 PA ,Water is £960.PA
Electric is £50 Per week in winter and about £25-30 Per week in summer
Food is anything from £100-150 Per week
TV Licence £145 Pa
So those Basic things come to more than £7000 ,before you factor in Transport costs,new clothes ,going out or Holidays etc
Friends of mine use his wages for the mortgage and tv licence and council tax and hers for food elec and water. I think they get by on her money to about 120/week for food, bills etc
Necessities like food, council tax, gas, clothes would come to £3000 per year. Leaving £4000 per year.
Its probably around the equivalent of someone earning £16k full time, as they have to pay tax - £2k, commuting £2k, and housing £5k per year, leaving the £7k figure.
OP stop living in a dream land ,blimy most peoples Council-Tax,Water and Gas/Electric will come to more than half of that ,before you factor in food ,TV Licence ,insurance etc,
My CT alone is £1,300 PA ,Water is £960.PA
Electric is £50 Per week in winter and about £25-30 Per week in summer
Food is anything from £100-150 Per week
TV Licence £145 Pa
So those Basic things come to more than £7000 ,before you factor in Transport costs,new clothes ,going out or Holidays etc
Food over £100 per week is madness for 1 person. £16 per day? No way
While I agree with everyone who thinks it's daft that bills etc would only amount to £3k I am surprised by how much money people spend on food.
The food/grocery bill for us (two men) amounts to about £55 a week. That's a weekly Lidl & high street shoping at £40 and about £15 of treats from M&S.
If it's more than that I would say that many of you are throwing a lot of food out uneaten.
I am retired and have no mortgage and live on more than 7,000 a year and still have to dip into my savings for extras. I know I could cut down in a lot of areas but life is for living . I also budget but it is surprising how things crop up that are not budgeted for . No one has mentioned house maintenance which if it is your own has to be funded by yourself
While I agree with everyone who thinks it's daft that bills etc would only amount to £3k I am surprised by how much money people spend on food.
The food/grocery bill for us (two men) amounts to about £55 a week. That's a weekly Lidl & high street shoping at £40 and about £15 of treats from M&S.
If it's more than that I would say that many of you are throwing a lot of food out uneaten.
Guilty as charged m'lud New Year ressie is to stop overspending on food
While I agree with everyone who thinks it's daft that bills etc would only amount to £3k I am surprised by how much money people spend on food.
The food/grocery bill for us (two men) amounts to about £55 a week. That's a weekly Lidl shop at £40 and about £15 of treats from M&S.
If it's more than that I would say that many of you are throwing a lot of food out uneaten.
My grocery shop for two adults, a teenager who is eating us out of house and home and two younger children, which includes household stuff, toiletries, pet food and stuff for school lunches etc is between £130 - £150 per week, depending on if we get a takeaway and a few drinks or not. Sometimes, it can rise to £200 if we eat out, which isn't so often.
Not a lot of food goes to waste, other than scraps and the odd few slices of bread or half pint of milk here or there.
My grocery shop for two adults, a teenager who is eating us out of house and home and two younger children, which includes household stuff, toiletries, pet food and stuff for school lunches etc is between £130 - £150 per week, depending on if we get a takeaway and a few drinks or not. Sometimes, it can rise to £200 if we eat out, which isn't so often.
Yes that sounds about right, especially with three growing and hungry offspring!
Sticking to OP's question, which i think is if all your essentials (and nothing else) were covered could you live on approx £70 a week. I could. The older i get the less & less i spend on stuff, because it's rare i get contentment from a shop. My one luxury which would eat probably £30 a week is internet & sky sports on my cable tv.
But the thing that interested me about the question is when so much disdain is shown towards people on benefits, and there's no way most of them (well definitely the ones without kids) are left with more than a tenner a week after essentials when the implication is they're having the time of their lives at expense of the state. After 18 years in full-time work paying taxes i've just spent 20-odd weeks on SSP of £86 a week paid by my employers ........and £0 in benefits from govt (where i'm temporarily unable to work for health reasons). This doesn't even cover mortgage and essential bills. But its quite surprising that its not too depressing trying to live on as little money as possible, on the basis anything i spend is funded from my long-term savings.
Comments
It's Band E and the tax is £1470.22 a year. Water is an additional £430 a year.
My parents are in Band G and pay £2045.46.
LOL. Our Council Tax (incl water), gas & electric alone come to around £3k pa.
Same here.
My CT alone is £1,300 PA ,Water is £960.PA
Electric is £50 Per week in winter and about £25-30 Per week in summer
Food is anything from £100-150 Per week
TV Licence £145 Pa
So those Basic things come to more than £7000 ,before you factor in Transport costs,new clothes ,going out or Holidays etc
Hahahaha.:D
Is frightening how much commuting costs for season tickets or monthly passes are
That made me smile
Dear me, that's some expenditure
Food over £100 per week is madness for 1 person. £16 per day? No way
The food/grocery bill for us (two men) amounts to about £55 a week. That's a weekly Lidl & high street shoping at £40 and about £15 of treats from M&S.
If it's more than that I would say that many of you are throwing a lot of food out uneaten.
Gotta agree that if it's for one person that's crazy.
I spend about £15-20 per week on food for myself.
If money was no object and I could just buy whatever fancy food I wanted, I am sure I could triple that but no way £100.
Guilty as charged m'lud
Band E in my borough is approx £2050. That's in the south east.
(Water is separate.)
My grocery shop for two adults, a teenager who is eating us out of house and home and two younger children, which includes household stuff, toiletries, pet food and stuff for school lunches etc is between £130 - £150 per week, depending on if we get a takeaway and a few drinks or not. Sometimes, it can rise to £200 if we eat out, which isn't so often.
Not a lot of food goes to waste, other than scraps and the odd few slices of bread or half pint of milk here or there.
Yes that sounds about right, especially with three growing and hungry offspring!
But the thing that interested me about the question is when so much disdain is shown towards people on benefits, and there's no way most of them (well definitely the ones without kids) are left with more than a tenner a week after essentials when the implication is they're having the time of their lives at expense of the state. After 18 years in full-time work paying taxes i've just spent 20-odd weeks on SSP of £86 a week paid by my employers ........and £0 in benefits from govt (where i'm temporarily unable to work for health reasons). This doesn't even cover mortgage and essential bills. But its quite surprising that its not too depressing trying to live on as little money as possible, on the basis anything i spend is funded from my long-term savings.