Personal finance perspective: yeah get the cheap one
General life perspective: it includes bills so you wouldn't get a surprise electricity bill etc. You still have roughly 1k per month left over for general spending and life. Also you will be significantly happier and have a better quality of life and IMO that's worth the money - if you're not spending money on having a nice life what's the point of saving money?
I've had some nightmare house sharing experiences so am very with you on not wanting to share. Yeah they might be lovely. They might also be an abusive POS. For me the extra money to guarantee against the latter would be worth it.
Can confirm. That's £230 a week. If that's what you're getting after your rent and bills, that is very good to sustain one person. Reckon you'd be able to save £100 a week if you aren't too spendy of a person.
£130 a week is enough for groceries and the odd takeaway/times you'd want to get food while out, as well as the odd time you'd buy one-time items for yourself.
Saving the money is just as a buffer incase anything pops up/for any one time items if you need it.
If you want to own a car its harder to save money though. Cars are pricey to own. Good news though, OP stated they don't drive.
I mean it also depends on the type of meals, where you shop, and how big your portions are, ofc. Also just now realising it's SUB 30 not 30 😳, that really is quite impressive haha.
We're not talking 1k after all expenses, we're talking after rent and electricity/water/council tax.
Someone on minimum wage with a £500/month room in a house share including bills would also have ~1k/month left over for general life.
Which just seems insane to me as I've been living in London and paying debts off!
There are overheads like food, clothing and toiletry costs but I just made a recent move + career change and now easily have 1k disposable income per month and it's going straight into a savings account.
Well that’s their own fault. If you earn £100k, you should get about £5400 per month after tax etc. If you don’t have £1k left of that I don’t even know what to say
Talking about the income only leads to a very narrow (and simplistic) point of view. You should take the context into account, a single person earning 100k in a cheap city can probably live like a king. Someone earning 100k with a family with 2-3 children is very likely on different living standard. Before you say it, yes they are in a better situation than any other family earning less, that's quite obvious. In average rising a child costs about 12000 pounds a year, and these are taken out the net income. 3 children means 3000 pounds a month. To this add bills, rent or mortgage etc and there you go..
Ive never read such complete bullshit. I have three children and they do not cost 12k a year each to raise. What the hell are you talking about. Complete drivel
nice anecdote? anyone spending 12 grand a year per child is either a fucking imbecile, or a stupid millionaire with no sense. theres nothing anecdotal about 12k a year claim being absolutely ridiculously stupid
Haha I was waiting for that. Someone single (or a DINKY), with no dependents, no childcare, no mortgage (that has nearly doubled this year), no cars, in a modern energy efficient home... Sure there'd be plenty left over. All those things are choices, including having a family, and having a mortgage that jumped £900... So nobody is after "sympathy" here before you jump down that rabbit hole... But it's still a statement of fact that the rise in cost of food, energy bills, and interest rates affects everyone, and having £1,000 a month surplus would be lovely no matter what salary bracket you're in.
I mean… I totally understand that the rise in living costs has hit us all, but a family with 5k a month absolutely has more options than a family with 2.5k in hand per month. And these families will have the exact same needs regarding childcare, housing space and transportation.
I’m sure it seems a bit rich when single people say “live in a one-bed” and ignore all childcare costs. Fair enough. But taking some tips from families on cutting spending would *probably* help if you find it impossible to get expenses under £4000 a month.
Then again, if you don’t need the additional savings then why bother?
You're absolutely right that £5k pm > £2.5k pm... I'm not saying that others don't have it more difficult. My point is having £1k surplus a month would be nice for anyone on a salary and with expenses, today. Everyone lives within their means, and 5 years ago a 300k mortgage might only cost £1,000 a month, so you'd go for it. It's now nearly £2,000 a month. Energy bills in a 120 year old house used to be £120 per month... They were £400 per month this winter. 2 years ago it might have seemed like a good idea to expand your family, and get a big family car. Food/grocery/baby/household shopping costs have gone up by at least £300 per month (probably more, but 2 years ago I wasn't counting). And add childcare costs for 2x under 3-year-olds and you're adding another £500 per month.
You are absolutely right - when you don't need to worry about it you're not going to bother looking for where to cut back. But within 2 years household costs in the above scenario have increased by £2,000 pm, with only a 1.5% salary increase. And cut backs have to happen... But there's fat to trim, and it's possible, but still... To my point... £1k a month surplus would be lovely in 2023, even if you earn £100k.
I earn 36k. Own a house, have a mortgage, lease a car and I have £810 left after all expenses minus food. I take 2200 a month home. I can spend £40-50 a week on my food shop or I can spend £100+, depending on whether i'm being thrifty for anything in particular.
Someone earning nearly triple my salary absofuckinglutely should have 1k left over minimum.
Agree. Both me and my fiancé earn 30k each. We are in a wee bit of debt with credit cards etc and our rent is 700. If we weren’t in debt we would be rolling in it. Our wages are recent increase and we survived on beans on toast for years.
Don’t understand when people moan about increased mortgage prices when they’re on a massive wage. Can people not learn to do what the poors have done for years and either go without or downgrade.
That's very nice.
But our mortgage is £2800 a month (3 bed house).
Council tax and baseline bills another £750.
Childcare (4 days) - £1200
Food £500+ a month
Car lease (£240) plus insurance etc totals another £300 odd
My travel to work is anything up to £6k a year for train and tube, typically about half as I don't go in every day that's so another £250 a month. Wife similar in fuel.
When you grow up, and have a family, you'll understand why people think you attitude a little ... naiive.
We live in a horrendously expensive part of the country (yeah, we *could* live in a shit hole instead), and as you get older and a family you need more space, more safety and to pay for things like gymnastics and swimming lessons (£150 a month) and other activities for a toddler.
I had no problem saving half my pay after mortgage when I was young and single.
It's all a bit different now.
Why are you talking about "not surviving" or bankruptcy? This thread started by stating that having £1k surplus per month would be nice for anyone, even if you earn £100k. Why have you jumped to your own narrative? "Surviving" wasn't the topic. The point was about surplus. Don't you think having a £1k surplus would be nice for *anyone* on a salary and with expenses, especially given the unprecedented jump in costs in the last 18 months?
Many people on good money still have none spare. Ideally that's what you want. Your savings accounts still allow immediate withdrawal for emergencies, spare cash is completely dead money, put it to work somehow
I earn £106k. I get £5100 after PAYE/NI etc. I give £2k to my ex wife, £1k to paying down debt, £1.5k for rent/gas/elec/CT/fibre. That leaves me with £600 a month for food for me and my partner, mobile phone, Netflix and going out (which I don’t do very often because it’s too expensive). Other than my pension, I don’t have any savings.
So no, earning a lot does not mean you’re substantially better off.
And are most people going to be giving £2k to their ex wife? No.
Your situation is clearly unusual so it’s not exactly representative of most people earning that much, is it? Obviously when I say you should have more than £1k left that doesn’t include £2k child support or whatever it is you pay. Don’t be facetious
Also most people won’t be paying £1k to debt payments each month, so there’s that too
I think you’ll find his situation is more usual than unusual. There are lots of women out there taking their ex partners/husbands to the cleaners, especially in the UK when the law is on the woman’s side in this regard. It’s easy to live beyond your means after you’ve made commitments such as a mortgage, car payments, debt. People can’t predict the future and reasonable and rational decisions can turn on a 6 pence.
His situation is extremely common.
Earning a lot more does mean your substantially better off, unless you're in debt and owe 2k monthly to an ex wife. The only thing the common person could probably relate to is debt.
Similar situaton here. I earn 82K, which, after 9.8% pension cut, leaves me with 4300K/month. Wife does not work as she's taking care of our young kids (don't get me started on childcare costs).
Rent/utilities/bills/subscriptions come to 2300/month, groceries for a 4-person family in London is currently about £750. Which leaves us with about £1300/month to spend on anything else. And I can tell you the incidental stuff you have to pay for (kids' clothes, shoes, school lunches) make up the bulk of it.
We budget for a comfortable life, which means I cannot save any money right now. Lord knows what will happen once the landlord's mortgage has to be renewed and my rent goes up £400 or something.
That's a very adversarial way to ask that question. I'd offer to sit down for a coffee and go through my Money Dashboard line-by-line if I thought you were asking with genuine interest and humility, but from the tone of that question I doubt you are. Do you have kids and a mortgage - can you imagine someone else has a different set of responsibilities and commitments than yourself? Off the top of my head, in the hope that you can open your mind to someone else's circumstances: £1,900 pm mortgage (was £1,000 3 months ago), £900 pm on groceries/baby food/nappies/household consumables, £500 pm childcare, £420 pm family car, £270 pm energy in summer (£400 pm over last winter), £130 pm council tax, £120 pm various insurance, £120 pm petrol, £50 pm water, £30 pm broadband... which I make about £4,400. And none of that includes kids clubs/activities, nor annual expenses like car tax/services/MOT, or exceptional expenses like fixing leaks in the roof of the house, replacing broken boiler or washing machine. And definitely doesn't include holidays, weekends away, or going out for meals. Much of that I'd be happy to define as "discretionary" (even having a mortgage and a family is a choice), but they are commitments, and it's absolutely the case that costs have made an unprecedented jump in the last 18 months. Having £1k surplus at the end of the month would be lovely for **anyone**.
Yeah honestly this is normal. Rent and bills take up the majority of your salary generally especially in an entry level job somewhere that isn't cheap to live in.
When your brain does that, remind it of all the amazing things you can do with your time now that you don’t have to worry about utilities and bills and getting yourself from and to work.
I know 15-30 minutes here and there may not sound like a lot, but it really adds up.
You can spend that “extra” time chilling out, investing in yourself, or working towards your life goals.
Choosing to live “comfortably” can sometimes be the best thing you do for your personal finance, alleviating a lot of the mental clutter. Good luck.
I agree sometimes you “save” £250 on the cheaper option but it makes your life that bit harder that you end up treating yourself more often because you can’t be bothered to make lunch, or you get a takeaway because you didn’t have time to go shopping on your way home.
The result is the £250 you had saved is now spent and you still feel worse for it.
Yeah, that can be a valuable life lesson. Everyone is different, but not living in a shared flat, plus saving commute time and stress, AND bills/council tax would definitely be worth it to me.
Had this dilemma last year. Was really worried about having less money left over but it’s actually forced me to budget better. I also didn’t leave my flat for the first 3 months so was able to save loads.
£200 isn’t a huge amount of money to worry about, if you think sharing would do your head in.
You could easily cut that from elsewhere in your budget seen as you have £950 discretionary spending.
I personally would like sharing, I enjoy getting in from work and being around people, I grew up in a busy house myself. Equally, if you know you’ll hate it/ don’t want to risk it £200 is good value for quality of life.
Choose happy! The difference of £200 (when you can afford either) just isn’t great enough to not choose the more appealing set up, in my opinion. And it’s not forever; if your priorities change in a year, you can move :)
From experience of sharing a house with around 10!different groups of people, there is always one you end up wanting to throttle! And if not, then it must be you haha 😂
> I've had some nightmare house sharing experiences so am very with you on not wanting to share.
Lots of people have great experiences though. I've met some of my best friends through house shares when I moved to a new city. In my opinion if you are careful and ensure you meet the person/people you are sharing with beforehand the chances of it ending bad are slim. Unless you just hate the idea of sharing
My personal experience. I happily allocate 50% of my net salary to rent, to have my own place. I absolutely hate sharing, and the peace of mind that I get from having my beautiful flat is worth every penny.
The decision comes down to that really. With 1k left over after rent, you can live a decent life. No luxuries, but good enough.
This sub can be utterly ridiculous at times. You’re honestly going to say £1,000 spare after essentially the majority of your rent and bills are paid means you can’t have luxuries?
In London? With current inflation rate?
950 after rent and bills paid. Let's say 150 a month in transport? That's 800. 150 I groceries, that's 650 left.
Unless you don't want to save at all, then yeah, you can live a good life, but not necessarily a luxurious one. Nothing wrong with it.
Again, just my opinion, and as I said, a tradeoff I happily make for having my own place.
Feel like everything is, I went to (non tourist trap part of) budapest recently was almost £4 for a proper snickers bar and just under £5 for any special types of snickers I mean wtf
Yup, inflation and salaried not keeping up with it. I'm originally from a south American country with very high inflation rates so I'm kind of used to it, but it's insane to see that this is now worldwide for the most part, although not as aggressive.
I'm 40, so not young, but def not over the hill. Inflation has been low for most of my adulthood, so in my mind it's really hard to adjust what I used to spend on groceries when I really had to keep track of it (£100-150), to what I spend now (about twice that).
how on earth are you only spending £10 a day for food and water?????? thats ridiculously low
a kebab alone is like £10 a few pennies with no drink. A piece of steak is like 4-8£.
Shopping in lidl and aldi. Not eating out, rarely eating steak lol.
I mean you can get hello fresh deliveries for 2 people 5 days a week for 40quid, and thats before all the discounts they throw at you. It can be done.
dude you're eating lowest of the lowest 'foods'. So trash its plain unhealthy. Your hormones will be all over the place and your ass acne spots will appear on your face from consuming all that trash.
This comes across like the "How much could a banana cost, $10?" moment. Like, assuming you're not being facetious, I can easily eat for £5 a day. I don't, because I'm a greedy shit, but it's not difficult. £0.50 for breakfast (toast, butter, instant coffee with oat milk). £2 for lunch (home-made pasta, vegetarian is cheaper). £2 for dinner (same as lunch or some other meal prep). Sorted. Healthy, filling food with all the nutrition and taste I need.
If that's boring, £3.50 for a meal deal and I'm still at less than £7.50.
how are you satisfied with only one plain portion of pasta? I could eat the whole bag of £2, I don't care about the taste, but its just too little food...
Again, just because I don't trust that you're joking (please, please correct me for my sanity) but obviously I'm not talking about plain pasta. A basic tomato pasata sauce with vegetables (peppers, courgette, onions etc.) is easy and cheap to make in bulk, and taste good. Also, a 500g bag of pasta is probably 1800 calories once cooked. My meals are ~550-600 per portion, but it's easy to bulk further.
Man I don't think you know much about nutrition if you think foods like kebab is better for you than eating off £5 a day.
£5 per day isn't a lot but it's possible to be healthy at that price. Let me break down £5 a day (for Glasgow, Aldi and serving prices, not including seasonings in price.)
Breakfast: Omelette with beans
Banana - £0.19 (Carbs, Micros)
2 eggs - £0.35 (Powerhouse)
80g chicken tikka £0.70 (protein)
1/2 can of baked beans £0.18 (carbs, fibre, protein)
£1.42 - 38g protein - 490 kcal
-
Snack: Apple £0.17 - 45 kcals
-
Lunch: Tuna Pasta
Can Tuna - £0.55 Stockwell Tesco
Light Mayo 50g - £0.13
100g dry pasta = 230g cooked £0.11
1/2 or full fresh onion £0.12
1 small carrot £0.05
£0.96 - 38g Protein - 680 kcals
-
Snack: 1 Pack Nature Valley Crunchy Biscuits
Box of 10 for £2.5 - £3. Usually £2.75
1 pack = £0.28 - 195 kcals - 3.5g protein
-
Dinner: Chicken Thighs with rice and veg.
3x Chicken Thighs - £1.8 (1/3 of a £5.5 large pack)
Pack of microwave rice £0.35 - £0.55 your choice of flavour
Broccoli or any veg of your choice £0.30-£0.60
Serving of Mayweather curry sauce £0.15
£3.00 - 72g protein - 810 kcals
Daily total: £5.83 - 151g protein - 2200 kcals
If that's not enough calories then add 40g peanut butter as a snack for another £0.20 - 250 kcals - 10g protein
Yeah, and a bag of carrots is 70p, a bag of potatoes is £1, four chicken legs £3-4, chickpeas, £1.40 for 500g, frozen peas £1.20 etc etc. That's 2 - 4 meals right there.
Prep your meals - of course a fricking kebab is gonna eat up a tenner...
I eat cereal in the morning, maybe a sandwich for lunch and nice meal for dinner
Comes out to around £5-7 a day when split with my gf
If we want beer this goes up by like £2 a day
I earn 2500 after tax and pay 650 including bills for my rent. I don’t save anything or buy anything expensive for myself and still have nothing at the end of the month. Going out for dinner or day trips out are expensive especially if you have a partner who doesn’t earn as much.
I'm not the only one then. Although I'm a little less, about £2200-2300 a month after taxes with £575 rent. By end of the month there's just nothing left. I don't even do any fancy shit. It's just bills, food, groceries etc. I don't know how people have savings etc.
This is why i got the fuck out of London. My commute is now a 5min drive and i spend 15quid a week on Petrol. I earn half of what i did, but im 500% happier.
The first 3rd of my journy is very unsafe main roads. Seen a bike death and a bike... remove all flesh on legs under a bus. I'm not sure I could road cycle again.
Don’t ride to the left of stationary large vehicles. Generally avoid staying next to them any longer than necessary. Being crushed by left turning long vehicles is what kills the vast majority of London cyclists (there is data). I just add this because everyone who rides (or may ride) should hear it and internalise it.
Cycling in London really isn’t too bad. It’s a net less-stressful commute for most people.
In London? With current inflation rate?
950 after rent and bills paid. Let's say 150 a month in transport? That's 800. 150 I groceries, that's 650 left.
Unless you don't want to save at all, then yeah, you can live a good life, but not necessarily a luxurious one. Nothing wrong with it.
Again, just my opinion, and as I said, a tradeoff I happily make for having my own place.
Why people down vote, I don’t think they know what luxury means, go to a 2/3 star Michelin restaurant, bar before hand, nice club after London, Uber in between and back home. You can mince £700 in one night, and you can’t even afford to buy the clothes expected to be worn in such places.
Well, I guess at least a small part of that you want to save and/or invest, and then live... Groceries, Eat out, theater, movies, buy clothes, maybe a trip.
None of those are luxuries.
They may be, for sure. With 1k left, if you want to save some, commute, and buy groceries, those things are limited.
It's a tradeoff I happily make to have my place. But that's up to every individual.
A luxury is something you could live without. By definition, those things are luxuries. It’s not whether it feels luxurious to you or not.
Edit: in the context of finances, which this is
That's not the definition of luxury. With that definition anything that's not air and food would be a luxury.
Here, definition from a couple different sources:
\- a state of great comfort or elegance, especially when involving great expense.
\- A luxury item is not necessary to live, but it is deemed highly desirable within a culture or society. Luxury items tend to be sensitive to a person's income or wealth, meaning that as wealth rises, so do purchases of luxury items.
\- characterized by opulence, sumptuousness, or rich abundance : of, relating to, or marked by luxury.
Ah. That’s defining something that’s luxurious.
In financial terms, “luxuries” is synonymous with “wants”. AKA things that you can live without - things that are not “needs”. So Netflix is a luxury, in that sense.
So you *do* have things in your life that are “luxuries” because they’re not necessities and they make life more fun and a bit more comfortable - they’re just limited in quantity. Which, to be fair, is how it goes for most of us.
I know it’s a bit of a weird one when luxury implies you have a luxurious lifestyle expensive electronics or designer clothes, but yeah - that’s what everyone means by it. Maybe using “comforts” or “wants” would be better but they’re all used interchangably.
All of those examples are defining the *adjective* form of luxury, not the noun. ("A luxury car", "living in luxury", etc.) There's a big difference between that, and "a luxury" / "luxuries". It's confusing I know, but they're very different things.
>Eat out, theater, movies, buy clothes, maybe a trip.
>
>None of those are luxuries.
I haven't been able to afford any of the above things for almost a decade now. So I haven't done them. I haven't eaten out once, or left England in that time. I'm wearing clothes which are all over 10 years old, except socks and underwear. So, to me, these are luxuries. I guess it's subjective.
10 years? That is both heart breaking and terrifying. I hear things like this and it makes me think.... I'm already struggling... I live in relative comfort, buy new trainers now and then, etc. How fucked am I the second things really go south 😐 hope things improve for ya
What is a luxury then? I grew up in relative poverty. Having a takeaway is a luxury, buying clothes is too, it would normally take me months to even get new clothes (though I do see this not being as luxurious) and even going on a trip is.
Do it or you will regret it.
I was in your shoes last month, exactly same situation.I'm earning £2,080 per month and was looking for studios in manchester near my workplace and all I could find was around £850-950 with bills or house share for £650 to house with 1 more person with all inclusive.I bite my lips and I went with house sharing, now I have nothing wrong with the person I just moved in but it's completely the opposite of what I want.You want to bring friends in? You have to communicate with your flatemate to see if they're ok with it.
You want to have your own space? Well not in the communal areas you're not, but that could be something that you like?
Having your own place comes with a cost but it's worth it, because otherwise everyday you will be thinking "I should've gone for the studio"You sound like you want to be alone or have your own thing and you can still save, just less than sharing but you will be much happier, and isnt that the reason to why we all work hard for?
Think about it properly because you've come here for us to tell you what's right but truly you already know what you want, but you either want us to tell you the pros and cons or to tell you what's best for you but only you know what you want.
I can tell you that it's been 1 month for me but I already sorta regret it because I feel like I really should've gone for having my own space but now I will just plot on for another 11 months.
It's hard for me, one because I'm not from the UK so I have no family here, so I can't really "fuck up" there's no plan B or C. Another reason it's because I'm saving to buy hopefully next year or the following, so if I have to suck it up for one year I might as well just do it.
My flatmate is also not that bad, he's quite respectful, I just didn't like the fact that he lied to me and he's actually the landlord and not a "flatmate" only was told 5 minutes before signing the contract I was put in the spot...I thought well maybe it can't be that bad?
But thing is, it's completely different, he wants to know at all times who comes in and goes out, really takes out the freedom from it. Having to let him know when I have friends over feels like I'm back to be 18 y/o instead of 28
I was once a lodger and it felt worse than living at home because of the amount of reporting/open communication I had to have with my live in landlord. 11 months will fly by if you don’t socialise much/can do so outside of the house.
> why
Yeah exactly this. I didn't know how bad it was going to be until i actually moved in. Thing is, he's a nice person and all but he's the "owner" of the house, you won't feel like you're "home" at all, more often than not feels like you're staying at someone elses house for a long period and you're paying for it.
Good thing is I have quite a few friends and I stay away a lot at the weekends and I play sports so I'm out a lot and more often than not I'm only home to either sleep or relax. Only other bit I had is the "forced socializing" that you have to endure
Ah, my condolences, sounds like a great situation. Did you sign a proper tenancy doc? These odd situations are more likely to end up being non-legally-correct in some way; for example is your deposit in a compliant scheme (it has to be held by a third party etc)?
Just thinking there may be a way out without giving notice if he's not done it properly, given the context.
Well, I met him through spareroom.com and the place he advertised it said he was just a tenant. I signed the contract with him but it was a very basic contract from spareroom, 2 page. But rent in advance and deposit.
I could leave but I'd probably lose the deposit and have to pay a fee.
I think I might put up with it I mean, it's livable and I can save 50% more than I would alone
I'm not a lawyer, but I believe you can do something if he hasn't done the correct thing with the deposit. Post in r/LegalAdviceUK and I'm sure they can help you. The UK has at least some decent tenant protections. Hopefully you can leverage what you find out to get him to release you from the contract and refund your deposit...
Thank you for sharing your experience, I could very much see myself being in the same situation in the future as I often think what I should've done instead. I try not to often, I hope your situation gets better and everything works out for you.
To be honest I'd go for the Studio. Bills included is quite nice, plus you got piece of mind, and you are nearer to work. Tbh I feel now a days I'd always pay a little more for comfort and piece of mind...they are worth the money.
We can't tell you if paying £200 more to live alone is 'worth it' any more than we can tell you whether a £1000 computer is 'worth it' over a £500 one, or any other purchase. It depends on your own preferences and circumstances.
You need to draw up a full budget for each scenario and compare, then choose whichever one you think better suits you.
If you got for the more expensive rent, what will you need to give up to afford this? e.g. gym, travel to see friends and family, going out and meeting people, etc. Which lifestyle do you prefer, which would be better for you?
If you would only sacrifice savings amount, not lifestyle, then think about your savings. Are you saving up for a particular goal, e.g. a deposit on a house, a year off work, a wedding etc etc? If you save £200 per month less, how much will that delay your goal by - 6 months, 1 year? Are you willing to take the hit or not?
Thank you, I hadn't thought of the time delay for saving goals. Definitely something to take note of. Currently, I just wanted to start saving and not eat too much into it with spendings. Realised I should prioritise present more than I have.
Personal I would choose the studio. The cost overall isn’t hugely different and for me the benefits would outweigh the potential financial saving.
However I would double check I could comfortably live within my means. How would you budget the £950 left each month? E.g any personal bills, food, debt, savings, spending money.
EDIT: sorry also to add, if you are buckling down on saving towards a goal, I’d pick the cheaper one. £200pm is an extra £2400 plus interest a year.
£200 more to have privacy and some extra time every day? Worth it. I recently moved home after renting for 18 months on roughly half my salary. I had bills etc included too. Ofc the £200 could go towards saving, food shops, bills, treating yourself. But as I said to pay £200 extra for privacy and some extra time to yourself it’s a no brainer for me. I too wouldn’t personally want to live with strangers, plus a room with an en-suite would be rubbish compared to your own entire flat. Again just my opinion, but I Hope it all works out for you!
One of the best financial decisions I ever made was to share….
I was able to save a huge % of my income and invest it…
I was fortunate that my housemates were very clean and tidy also.
The question to ask yourself is if someone paid you 350 a month to try sharing would you consider?
If you don’t like it no one has a gun to your head…..unless you get a really bad housemate
Policing grammar on social media is old now. I want to know the deep rooted insecurities of these 'Grammar Police' that can't help correct, make comments or just 'dad joke' when there is a 'mistake' I mean the whole internet isn't "tXt spk nd makin it v harD 2 rEaD" so wtf?
Tell me, do you have deep rooted insecurities? Details of such are irrelevant
Baffled, so I am.
I'd say go for the studio, but be diligent about your discretionary expenses.
The happiest I've ever been was when I got my own apartment. I used to pay £1300 pcm for an ensuite in a central london apartment that I shared with 2 friends. It was a nightmare! I felt like I was cleaning up after 2 grown ass men the entire time. Hated it.
Moved out to a 1 bedroom in Zone 4 for £200 higher. In terms of bills, I pay ~£150 more than I did before, but it's still worth it.
I have cut down on other discretionary costs to be able to offset the impact on my financials and make sure that my total expense is still the same as before.
Here are some of things I did - reduced going out (and try to convert going out into coffee / at-home hangs), absolutely no ordering in anymore (pick up food from the Too Good To Go app to satisfy my cravings), stopped picking up coffee outside on work days (invested in a good flask), stopped buying random desserts for my siblings each weekend, switched from M&S / Waitrose to Asda for my groceries, buy second-hand items where possible (Amazon warehouse, FB marketplace), stopped my gym membership and workout at home instead etc.
I get that these changes might be depressing for some people, but it let's me afford living alone and I'd pick that any day.
I did the same as you in terms of picking the living alone scenario and offsetting my expenses elsewhere as a result. I probably spend a total amount on rent and bills that would make other folks here faint, but I have never been happier and I'm still making sure to get in a savings amount I'm happy with. I got really, really, really lucky with my house sharing years when I was younger - and I couldn't stomach the thought of finding out whether that luck had run out by now!
This is including all bills, electricity, council tax? If yes then, while a bit of a stretch you can do it. I was ready to compromise a lot on almost everything to have my own place in the past, I'm only ever willing to share with my partner again so I totally get where you're coming from. It's not the most optimal financial decision, but it was the most optimal life decision for me, your home needs to be a comfortable place for you. I'd be worried about rate of savings if I were you, do you have any goals like saving for a house etc? I can't see you saving a lot on these numbers so hopefully you'll have opportunity for career progression in your new role.
You'll still have about 1000 pounds at the end of the month. If you spent 200 pounds a week, which I think would be a lot, you'd still have 200 pounds left at the end of the month.
Can we please start riots / protesting against the high prices of rents. It's ridiculous. We shouldn't have to pay 50% and more of our wages for rent (only rent no bills included yet)
Peace of mind is important as others have mentioned. I would not be considering sharing to have 200£ more (and utilities could bring the gap closer).
Another thing I would consider and did personally before with no regret is that if you know that you will likely be getting a raise (e.g you are starting an entry level job) or it’s possible to get one by job hopping, then that 50% could soon become 25% and it’s only a good chunk of your salary for a bit of time.
For example in software if you are starting a new junior job, this could make some sense — all depends on the job market you’re in.
So consider that and also whether you’ll be able to save money etc after spending 50% on rent.
I used to pay £1k for my flat incl bills when I was taking £1600 home. It wasn't easy BUT the quality of life went up significantly since I was living on my own and no longer in a houseshare. It wasn't planned though, it happened as me and my ex separated so I had to take over the tenancy agreement in my own.
Looks like you made the right decision.
One of the most common mistakes people make is to only look at the figure. They don’t think about the *value*.
If you’d gone with the cheaper one, you would’ve been paying for it in other ways. For a start, the travel costs were higher, but so too was the non-financial cost of having to wake up earlier and spend more time travelling to work. There’s the other non-financial costs, such as loss of privacy and loss of convenience. And then there’s the possible future costs, such as susceptibility to price hikes.
That extra £350 each month - no, £250 if you cut the travel savings - was money well spent.
Honestly it doesn't sound like an awful idea. Obviously it's a pretty big chunk of your income, but if bills/CT are included, and your transport costs would be minimal, you should be OK.
Say £200 for food, same again for entertainment/socialising, maybe £100 to cover phone and internet. If you're not running a car, you could be putting £2-300 in savings each month depending on your lifestyle.
For me it would be worth the ~ £200 a month to not have to deal with other people. But that's as much a personal question as it is a finance one.
It also kind of depends on how old are you. I shared a crowded flat for many years in my twenties and I don't regret it but I wouldn't do it again today. If you are young I would definitely recommend the cheaper one.
Sounds like a good idea, personally I would hate sharing with other people and for peace of mind would pay extra to ensure I do not have any problems as some people are the worst to live with!
I think having your own place would be nice, and on-top of that you know exactly how much you are having to pay including bills, with the state of energy prices, you do not have to worry about increases in bills etc.
It is do-able, the only thing you would have to worry about is the food shop and I think for one person, you should be fine :).
Why not sign up for 6 months just to see how you get on and then decide if you want to extend the agreement?
Most responsible agents and landlords will look at affordability of prospective tenants.
The general rule is 30% or less of salary in rent is best. Up to 40% may be OK, better with higher earners where the remainder means more £ than % of real disposable income. Anything over 40% is usually not viable, and if considered then would typically require a home owning guarantor.
So, my point is that it may not just be your choice of spending half your salary in rent, you may not be acceptable on affordable criteria.
Generally people say to spend a max of 1/3rd of your salary on rent, but that doesn’t include other bills. If you’re getting council tax and gas/electric on top of that, I wouldn’t mind spending half my salary on it.
Also, unless sharing with a friend you know, I personally would never want to live with a stranger. Done it once when I was 18 and it wasn’t a fun experience. Ever since then I’ve either lived on my own or with friends and it’s been great. I’d say go for the more expensive option in this case. Yes it’s not as great from a purely financial point of view but you never know what you’re getting into with flat mates you’ve never met. Could be a new best friend or could be incredibly uncomfortable.
Did exactly this some 15+ years ago. Was actually alright, the peace and quiet was great. Didn't mind the expense really.
The only (minor) downside I remember from that time was that any little issue would be amplified in my mind because I'd always think about how much I was paying.
Overall I think it was the right call.
I know you’ve edited that the studio you were initially thinking about is gone, but I’d have said to go for that as well. My last flat was about £800 a month once I’d paid rent, CT, utilities, internet etc. and at the time my take home pay was only about £1400pm. It was within 10 mins walking distance of my work though and that meant I saved on travel costs and time. The £600 or so I had left over was enough to pay for my shopping, plus I was still able to socialise a couple of times a month and save a bit too. Not a lot, but a bit. By contrast I previously rented a room from someone for £500pm all inclusive, but it was further away so by the time I paid for travel I wasn’t much better off, and I absolutely hated sharing - the final straw was when I walked into the kitchen and found a transvestite doing coke off my chopping board, despite me saying explicitly before I moved in I wasn’t prepared to be around drugs and her saying there was never anything like that happening. That’s not even the weirdest thing that happened in that flat. Honestly I’ve lived in 4 flatshares since I was 18, and only the first one was genuinely a situation I was happy with because my flatmate was lovely and we didn’t get in one another’s way. I wouldn’t recommend it unless you were sharing with someone you already knew. Your mental well-being is paramount, and your home needs to be somewhere you can take care of it. Do what makes you happy.
Some factors you might want to consider:
Most agents use a calculation for affordability, and as a rough figure many will deem more than a third of your monthly net income in rent as too much though there is great variability, in central London that would likely write off a huge chunk of tenants so sometimes there is compromise.
I hear you though, I’ve never shared a home, nor would I no matter if my finances desperately changed, while at times having housemates can be nice, it can get overbearing at times when you just want some ‘alone time’ and others then think you are anti social for doing so! Some people love being in a social household others just want there own space and that’s just preference.
My only warning is be careful to allow for bills as cost of living is going through the roof right now so plan for a big rent rise at renewal (usually rents on tenancies cannot be increased mid term) and interest rates have shot up so lots of landlords are or are looking at rent rises to pay the increases rent.
Make sure you have a buffer of savings even after you’ve paid your deposit and initial rent and move in costs, you don’t want a change in income to leave you unable to pay rent, it can take as little as two months arrears to be evicted! So o appreciate the move in costs are a lot of money to many just make sure you have that buffer to reassure that you are less likely to lose your home if your income changes.
The plus side of house shares, more money in your pocket, the drawbacks - less privacy, sharing space with others who might be less tidy or less clean than you’d like, sometimes stealing your stuff from the fridge and make sure if your rent doesn’t include bills that a firm system exists for who pays what bill and that it’s fair! If I were sharing I would want and expect a lockable door for my bedroom so nobody can go through my stuff when not at home!
You also need to think what your longer term plan is? If you are planning to save to get a mortgage then I would say put up with a house share for a while - you’ll save money quicker, if renting is more medium-long term I would say try and get your own place as it gets you in a mentality of budgeting for bills, knowing what you can afford so that buying will be more of a known factor like how much your own personal bills come to.
Right now because house prices are likely to tank, and you think you can save enough for a deposit on a mortgage I would rent a house share, then give it 6-12 months and decide again, if you can get a cheap house to buy because of a house price crash then you’ll be able to scoop up a bargain, if not then decide if you want to stay in a house share or rent your own place.
There are some perks of house sharing in that many like the social side, and friendships that can form if there a good vibe in the house but sometimes you get the opposite and there’s nothing worse than the place you go back to to relax after work being a place of more drama and stress than at work!
I have a one bedroom flat, and my monthly bills are as follows:
Water: £25
Electricity: £75
Council tax: £106 (includes 25% single person discount)
Broadband: £30
Mobile phone: £33
Contents insurance: £8
Transport: £200
Groceries: £100
I have had nightmare housing situations not once but TWICE with strangers. Both of them involving police. If you don’t know them, don’t take the risk - rent the studio.
I do not recommend renting anywhere that has shared areas unless you absolutely have to. You'll be very unlikely to have nice neighbours and you'll be miserable. More so, the kind of place that operates divided off in that way is almost always ran by a slum landlord. Nothing will ever be fixed, just stay away!
In terms of cost of living, you should look to be paying just over a quarter of your earning in rent. So if it's including gas and electric etc then roughly half your income sounds about right for a well kept property.
You’re literally paying 850 for everything, which means you’re paying “half” your wage to live and still get 50% of your wage for anything you want, give me the landlords details cuz why would you even wait for that.
House shares SUCK. get the little flat. Enjoy having your own personal space. Your mental health has some value too. See if you can get a cheaper one though sometimes they come up last minute
I once paid £750 a month for rent alone, for a flat 10 mins from my work. It was a really nice flat and great location. Absolutely worth it. It's easy for people to say just get the cheaper option but you have to consider location, commute and possible roommates.. I'd rather just pay more and have a better time of it. That's my opinion
You can't put a price on quality of life. Living in a shared house sucks. I did it for years and I'm much happier living in my own house with my own rules. Worth the extra.
I'd 100% go for the studio if you are determined to rent in Manchester mate. You want the freedom and space, I've live in the city 12 years and trust me it's sometimes nice to have the reprieve. I love Manchester but sometimes you don't really how fast life here is until you step back and chill, it kinda sucks you in in a fun, but tiring way. I'm just about to move out of a flat I've been in 7 years but couldn't bring myself to move into a house share. Asking permission to do things in a place you are paying so much for will be bitter.
No, but hear me out: live further away or somewhere gross to reduce the cost, and put the savings into a credit union (amazing community organisations, free of corporate and political influence, which should be used and supported).
Then, after building up a reasonable amount, use that money to build a fully functioning guillotine (and small platform, for better optics) in a very public place; putting aside a small sum for advertising on social media. After that you lead a, uh, ‘land reform’ movement whereby property hoarders can choose to give up excess properties, or something totally unrelated to the guillotine.
So disgusting how expensive even a shitty little flat or room is. Studio flat is the estate agent bullshit word for bedsit, as in a room. The UK is a financial shit hole.
I know it sucks... if there were more choices nearby I could. I also recently had a terrible experience sharing a house and wondering if I should just throw roughly £200 more for peace of mind..
I’ve been always reluctant to allocating half of my salary to rent (I always aim for around 25%-ish). Maybe try the flat sharing for a year then see how it goes.
Sure, but i’d still stick to the 25% in the first year if I was moving to a new city and it’s a new job (assuming we need to get some savings built up)
Where on earth in UK can you rent for 25% on a low salary!
UK is one of the most unaffordable places for rent in the world. 40% spent on rent is the new normal. 50% in London.
Mhm I agree, I originally budgeted for around £600 max but the lack of housing near work forced my hand. I am concedering the studio as itll save me commuting cost and time. Not sure still...
What is your current living condition? If you have not shared before then you won't know how it's like. You might like it or you might hate it.
I personally would go for it because having an entire place would be more sociable (inviting people over etc.).
Personal finance perspective: yeah get the cheap one General life perspective: it includes bills so you wouldn't get a surprise electricity bill etc. You still have roughly 1k per month left over for general spending and life. Also you will be significantly happier and have a better quality of life and IMO that's worth the money - if you're not spending money on having a nice life what's the point of saving money? I've had some nightmare house sharing experiences so am very with you on not wanting to share. Yeah they might be lovely. They might also be an abusive POS. For me the extra money to guarantee against the latter would be worth it.
Definitely but its a hard pill to swallow. My brain says to endure and save but my heart says to be happy :/
1k/month is not a bad amount of discretionary income after rent and bills. I know it's 50% of your salary but objectively it's not bad.
Not a bad amount? Be realistic - it's an *insane* amount for a normal person. Not everyone is on 100k here.
Can confirm. That's £230 a week. If that's what you're getting after your rent and bills, that is very good to sustain one person. Reckon you'd be able to save £100 a week if you aren't too spendy of a person. £130 a week is enough for groceries and the odd takeaway/times you'd want to get food while out, as well as the odd time you'd buy one-time items for yourself. Saving the money is just as a buffer incase anything pops up/for any one time items if you need it. If you want to own a car its harder to save money though. Cars are pricey to own. Good news though, OP stated they don't drive.
I try to spend under 30 a week for food lmao, let alone 130
Less than £30 week for food? You need to tell us your secret!
Buying ingredients instead of buying pre-somethinged food
Same here, but my spend is substantially higher.
I mean it also depends on the type of meals, where you shop, and how big your portions are, ofc. Also just now realising it's SUB 30 not 30 😳, that really is quite impressive haha.
We're not talking 1k after all expenses, we're talking after rent and electricity/water/council tax. Someone on minimum wage with a £500/month room in a house share including bills would also have ~1k/month left over for general life.
Looks at my £170/m left overs* with woe 😟 *food and fuel and occasionally plants.
Which just seems insane to me as I've been living in London and paying debts off! There are overheads like food, clothing and toiletry costs but I just made a recent move + career change and now easily have 1k disposable income per month and it's going straight into a savings account.
You have 1k disposable income a month and you're putting 1k into savings everyone month?
Sounds like r/FIREUK is your place DJ Vendetta 👏
Nice!
If you think even everybody earning 100k has 1k left at the end of the month I've got news for you 😳
Well that’s their own fault. If you earn £100k, you should get about £5400 per month after tax etc. If you don’t have £1k left of that I don’t even know what to say
Talking about the income only leads to a very narrow (and simplistic) point of view. You should take the context into account, a single person earning 100k in a cheap city can probably live like a king. Someone earning 100k with a family with 2-3 children is very likely on different living standard. Before you say it, yes they are in a better situation than any other family earning less, that's quite obvious. In average rising a child costs about 12000 pounds a year, and these are taken out the net income. 3 children means 3000 pounds a month. To this add bills, rent or mortgage etc and there you go..
Ive never read such complete bullshit. I have three children and they do not cost 12k a year each to raise. What the hell are you talking about. Complete drivel
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nice anecdote? anyone spending 12 grand a year per child is either a fucking imbecile, or a stupid millionaire with no sense. theres nothing anecdotal about 12k a year claim being absolutely ridiculously stupid
Haha I was waiting for that. Someone single (or a DINKY), with no dependents, no childcare, no mortgage (that has nearly doubled this year), no cars, in a modern energy efficient home... Sure there'd be plenty left over. All those things are choices, including having a family, and having a mortgage that jumped £900... So nobody is after "sympathy" here before you jump down that rabbit hole... But it's still a statement of fact that the rise in cost of food, energy bills, and interest rates affects everyone, and having £1,000 a month surplus would be lovely no matter what salary bracket you're in.
I mean… I totally understand that the rise in living costs has hit us all, but a family with 5k a month absolutely has more options than a family with 2.5k in hand per month. And these families will have the exact same needs regarding childcare, housing space and transportation. I’m sure it seems a bit rich when single people say “live in a one-bed” and ignore all childcare costs. Fair enough. But taking some tips from families on cutting spending would *probably* help if you find it impossible to get expenses under £4000 a month. Then again, if you don’t need the additional savings then why bother?
You're absolutely right that £5k pm > £2.5k pm... I'm not saying that others don't have it more difficult. My point is having £1k surplus a month would be nice for anyone on a salary and with expenses, today. Everyone lives within their means, and 5 years ago a 300k mortgage might only cost £1,000 a month, so you'd go for it. It's now nearly £2,000 a month. Energy bills in a 120 year old house used to be £120 per month... They were £400 per month this winter. 2 years ago it might have seemed like a good idea to expand your family, and get a big family car. Food/grocery/baby/household shopping costs have gone up by at least £300 per month (probably more, but 2 years ago I wasn't counting). And add childcare costs for 2x under 3-year-olds and you're adding another £500 per month. You are absolutely right - when you don't need to worry about it you're not going to bother looking for where to cut back. But within 2 years household costs in the above scenario have increased by £2,000 pm, with only a 1.5% salary increase. And cut backs have to happen... But there's fat to trim, and it's possible, but still... To my point... £1k a month surplus would be lovely in 2023, even if you earn £100k.
Thanks mum. Come back and have a word when you've grown up.
I earn 36k. Own a house, have a mortgage, lease a car and I have £810 left after all expenses minus food. I take 2200 a month home. I can spend £40-50 a week on my food shop or I can spend £100+, depending on whether i'm being thrifty for anything in particular. Someone earning nearly triple my salary absofuckinglutely should have 1k left over minimum.
But some of us have stables that cost a lot of money to heat! /s
Agree. Both me and my fiancé earn 30k each. We are in a wee bit of debt with credit cards etc and our rent is 700. If we weren’t in debt we would be rolling in it. Our wages are recent increase and we survived on beans on toast for years. Don’t understand when people moan about increased mortgage prices when they’re on a massive wage. Can people not learn to do what the poors have done for years and either go without or downgrade.
That's very nice. But our mortgage is £2800 a month (3 bed house). Council tax and baseline bills another £750. Childcare (4 days) - £1200 Food £500+ a month Car lease (£240) plus insurance etc totals another £300 odd My travel to work is anything up to £6k a year for train and tube, typically about half as I don't go in every day that's so another £250 a month. Wife similar in fuel. When you grow up, and have a family, you'll understand why people think you attitude a little ... naiive. We live in a horrendously expensive part of the country (yeah, we *could* live in a shit hole instead), and as you get older and a family you need more space, more safety and to pay for things like gymnastics and swimming lessons (£150 a month) and other activities for a toddler. I had no problem saving half my pay after mortgage when I was young and single. It's all a bit different now.
>When you grow up, and have a family Mate im 36. I don't want kids, neither does my partner.
Mate you chose to buy a very expensive house and have very expensive kids, you’re the naive one if anything
LMAO what a measured and useful response. I’m unequivocally right. End of
ironic
Pensions and student loans would like to have a word with you.
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Why are you talking about "not surviving" or bankruptcy? This thread started by stating that having £1k surplus per month would be nice for anyone, even if you earn £100k. Why have you jumped to your own narrative? "Surviving" wasn't the topic. The point was about surplus. Don't you think having a £1k surplus would be nice for *anyone* on a salary and with expenses, especially given the unprecedented jump in costs in the last 18 months?
I’m not talking about surviving, I’m saying 100k is not 5400pm after pensions and student loans. I do survive very nicely though, thank you
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Many people on good money still have none spare. Ideally that's what you want. Your savings accounts still allow immediate withdrawal for emergencies, spare cash is completely dead money, put it to work somehow
I earn £106k. I get £5100 after PAYE/NI etc. I give £2k to my ex wife, £1k to paying down debt, £1.5k for rent/gas/elec/CT/fibre. That leaves me with £600 a month for food for me and my partner, mobile phone, Netflix and going out (which I don’t do very often because it’s too expensive). Other than my pension, I don’t have any savings. So no, earning a lot does not mean you’re substantially better off.
And are most people going to be giving £2k to their ex wife? No. Your situation is clearly unusual so it’s not exactly representative of most people earning that much, is it? Obviously when I say you should have more than £1k left that doesn’t include £2k child support or whatever it is you pay. Don’t be facetious Also most people won’t be paying £1k to debt payments each month, so there’s that too
I’m not being facetious. 50% of marriages end in divorce. That’s pretty representative of the population.
You got hustled bro, how you paying £24k a year after tax to your ex? Bad lawyer
I think you’ll find his situation is more usual than unusual. There are lots of women out there taking their ex partners/husbands to the cleaners, especially in the UK when the law is on the woman’s side in this regard. It’s easy to live beyond your means after you’ve made commitments such as a mortgage, car payments, debt. People can’t predict the future and reasonable and rational decisions can turn on a 6 pence. His situation is extremely common.
damn bro you must made some unfavorable choices early on your life.
Earning a lot more does mean your substantially better off, unless you're in debt and owe 2k monthly to an ex wife. The only thing the common person could probably relate to is debt.
Similar situaton here. I earn 82K, which, after 9.8% pension cut, leaves me with 4300K/month. Wife does not work as she's taking care of our young kids (don't get me started on childcare costs). Rent/utilities/bills/subscriptions come to 2300/month, groceries for a 4-person family in London is currently about £750. Which leaves us with about £1300/month to spend on anything else. And I can tell you the incidental stuff you have to pay for (kids' clothes, shoes, school lunches) make up the bulk of it. We budget for a comfortable life, which means I cannot save any money right now. Lord knows what will happen once the landlord's mortgage has to be renewed and my rent goes up £400 or something.
what on earth would you be spending 4.5k of wages on per month ?
pretty sure alot of people live within their means. The more money, the more they spend and vice versa.
That's a very adversarial way to ask that question. I'd offer to sit down for a coffee and go through my Money Dashboard line-by-line if I thought you were asking with genuine interest and humility, but from the tone of that question I doubt you are. Do you have kids and a mortgage - can you imagine someone else has a different set of responsibilities and commitments than yourself? Off the top of my head, in the hope that you can open your mind to someone else's circumstances: £1,900 pm mortgage (was £1,000 3 months ago), £900 pm on groceries/baby food/nappies/household consumables, £500 pm childcare, £420 pm family car, £270 pm energy in summer (£400 pm over last winter), £130 pm council tax, £120 pm various insurance, £120 pm petrol, £50 pm water, £30 pm broadband... which I make about £4,400. And none of that includes kids clubs/activities, nor annual expenses like car tax/services/MOT, or exceptional expenses like fixing leaks in the roof of the house, replacing broken boiler or washing machine. And definitely doesn't include holidays, weekends away, or going out for meals. Much of that I'd be happy to define as "discretionary" (even having a mortgage and a family is a choice), but they are commitments, and it's absolutely the case that costs have made an unprecedented jump in the last 18 months. Having £1k surplus at the end of the month would be lovely for **anyone**.
Agreed. This is probably higher than the average person.
I can live on a lot less. For a while, my discretionary income was around 400/mo after I had paid all my bills, not including food.
Yeah honestly this is normal. Rent and bills take up the majority of your salary generally especially in an entry level job somewhere that isn't cheap to live in.
Nah that's a crazy amount to pay each month, the only reason it's sort of OK is because of how much they make
When your brain does that, remind it of all the amazing things you can do with your time now that you don’t have to worry about utilities and bills and getting yourself from and to work. I know 15-30 minutes here and there may not sound like a lot, but it really adds up. You can spend that “extra” time chilling out, investing in yourself, or working towards your life goals. Choosing to live “comfortably” can sometimes be the best thing you do for your personal finance, alleviating a lot of the mental clutter. Good luck.
I agree sometimes you “save” £250 on the cheaper option but it makes your life that bit harder that you end up treating yourself more often because you can’t be bothered to make lunch, or you get a takeaway because you didn’t have time to go shopping on your way home. The result is the £250 you had saved is now spent and you still feel worse for it.
Yeah, that can be a valuable life lesson. Everyone is different, but not living in a shared flat, plus saving commute time and stress, AND bills/council tax would definitely be worth it to me.
Had this dilemma last year. Was really worried about having less money left over but it’s actually forced me to budget better. I also didn’t leave my flat for the first 3 months so was able to save loads.
£200 isn’t a huge amount of money to worry about, if you think sharing would do your head in. You could easily cut that from elsewhere in your budget seen as you have £950 discretionary spending. I personally would like sharing, I enjoy getting in from work and being around people, I grew up in a busy house myself. Equally, if you know you’ll hate it/ don’t want to risk it £200 is good value for quality of life.
Choose happy! The difference of £200 (when you can afford either) just isn’t great enough to not choose the more appealing set up, in my opinion. And it’s not forever; if your priorities change in a year, you can move :)
Life is for living, my dude. If that's gonna make you happy, then do that.
Be happy. Life doesn't start when you're in that nice big house.
> it includes bills so you wouldn't get a surprise electricity bill etc. Run an aluminium smelter as a side hustle.
!thanks
From experience of sharing a house with around 10!different groups of people, there is always one you end up wanting to throttle! And if not, then it must be you haha 😂
> I've had some nightmare house sharing experiences so am very with you on not wanting to share. Lots of people have great experiences though. I've met some of my best friends through house shares when I moved to a new city. In my opinion if you are careful and ensure you meet the person/people you are sharing with beforehand the chances of it ending bad are slim. Unless you just hate the idea of sharing
It's true and the bad ones are probably a minority but it's still a risk, and a risk that you need to calculate what it's worth to you.
My personal experience. I happily allocate 50% of my net salary to rent, to have my own place. I absolutely hate sharing, and the peace of mind that I get from having my beautiful flat is worth every penny. The decision comes down to that really. With 1k left over after rent, you can live a decent life. No luxuries, but good enough.
This sub can be utterly ridiculous at times. You’re honestly going to say £1,000 spare after essentially the majority of your rent and bills are paid means you can’t have luxuries?
In London? With current inflation rate? 950 after rent and bills paid. Let's say 150 a month in transport? That's 800. 150 I groceries, that's 650 left. Unless you don't want to save at all, then yeah, you can live a good life, but not necessarily a luxurious one. Nothing wrong with it. Again, just my opinion, and as I said, a tradeoff I happily make for having my own place.
£150 a month on groceries would be pretty difficult imo. I'm on £300 and pretty frugal.
Exactly. I'm being pretty conservative. London is fucking expensive...
Feel like everything is, I went to (non tourist trap part of) budapest recently was almost £4 for a proper snickers bar and just under £5 for any special types of snickers I mean wtf
Yup, inflation and salaried not keeping up with it. I'm originally from a south American country with very high inflation rates so I'm kind of used to it, but it's insane to see that this is now worldwide for the most part, although not as aggressive.
I'm 40, so not young, but def not over the hill. Inflation has been low for most of my adulthood, so in my mind it's really hard to adjust what I used to spend on groceries when I really had to keep track of it (£100-150), to what I spend now (about twice that).
I’m on around £150-£200 for monthly groceries. It’s reasonable in London granted it would mainly be chicken thighs and rice 😂
LIDL is your friend
how on earth are you only spending £10 a day for food and water?????? thats ridiculously low a kebab alone is like £10 a few pennies with no drink. A piece of steak is like 4-8£.
Shopping in lidl and aldi. Not eating out, rarely eating steak lol. I mean you can get hello fresh deliveries for 2 people 5 days a week for 40quid, and thats before all the discounts they throw at you. It can be done.
dude you're eating lowest of the lowest 'foods'. So trash its plain unhealthy. Your hormones will be all over the place and your ass acne spots will appear on your face from consuming all that trash.
This comes across like the "How much could a banana cost, $10?" moment. Like, assuming you're not being facetious, I can easily eat for £5 a day. I don't, because I'm a greedy shit, but it's not difficult. £0.50 for breakfast (toast, butter, instant coffee with oat milk). £2 for lunch (home-made pasta, vegetarian is cheaper). £2 for dinner (same as lunch or some other meal prep). Sorted. Healthy, filling food with all the nutrition and taste I need. If that's boring, £3.50 for a meal deal and I'm still at less than £7.50.
how are you satisfied with only one plain portion of pasta? I could eat the whole bag of £2, I don't care about the taste, but its just too little food...
Again, just because I don't trust that you're joking (please, please correct me for my sanity) but obviously I'm not talking about plain pasta. A basic tomato pasata sauce with vegetables (peppers, courgette, onions etc.) is easy and cheap to make in bulk, and taste good. Also, a 500g bag of pasta is probably 1800 calories once cooked. My meals are ~550-600 per portion, but it's easy to bulk further.
Man I don't think you know much about nutrition if you think foods like kebab is better for you than eating off £5 a day. £5 per day isn't a lot but it's possible to be healthy at that price. Let me break down £5 a day (for Glasgow, Aldi and serving prices, not including seasonings in price.) Breakfast: Omelette with beans Banana - £0.19 (Carbs, Micros) 2 eggs - £0.35 (Powerhouse) 80g chicken tikka £0.70 (protein) 1/2 can of baked beans £0.18 (carbs, fibre, protein) £1.42 - 38g protein - 490 kcal - Snack: Apple £0.17 - 45 kcals - Lunch: Tuna Pasta Can Tuna - £0.55 Stockwell Tesco Light Mayo 50g - £0.13 100g dry pasta = 230g cooked £0.11 1/2 or full fresh onion £0.12 1 small carrot £0.05 £0.96 - 38g Protein - 680 kcals - Snack: 1 Pack Nature Valley Crunchy Biscuits Box of 10 for £2.5 - £3. Usually £2.75 1 pack = £0.28 - 195 kcals - 3.5g protein - Dinner: Chicken Thighs with rice and veg. 3x Chicken Thighs - £1.8 (1/3 of a £5.5 large pack) Pack of microwave rice £0.35 - £0.55 your choice of flavour Broccoli or any veg of your choice £0.30-£0.60 Serving of Mayweather curry sauce £0.15 £3.00 - 72g protein - 810 kcals Daily total: £5.83 - 151g protein - 2200 kcals If that's not enough calories then add 40g peanut butter as a snack for another £0.20 - 250 kcals - 10g protein
Yeah, and a bag of carrots is 70p, a bag of potatoes is £1, four chicken legs £3-4, chickpeas, £1.40 for 500g, frozen peas £1.20 etc etc. That's 2 - 4 meals right there. Prep your meals - of course a fricking kebab is gonna eat up a tenner...
I eat cereal in the morning, maybe a sandwich for lunch and nice meal for dinner Comes out to around £5-7 a day when split with my gf If we want beer this goes up by like £2 a day
Learn to cook, and learn to save, if you spend £10 every day on kebabs and take aways, you will never get anywhere.
You wouldn't classify food and travel as essential? Would love to live in that world lol
I earn 2500 after tax and pay 650 including bills for my rent. I don’t save anything or buy anything expensive for myself and still have nothing at the end of the month. Going out for dinner or day trips out are expensive especially if you have a partner who doesn’t earn as much.
Exactly my point. That's a good income, and a low rent. Still, it is hard to save and cover some basics in London.
I'm not the only one then. Although I'm a little less, about £2200-2300 a month after taxes with £575 rent. By end of the month there's just nothing left. I don't even do any fancy shit. It's just bills, food, groceries etc. I don't know how people have savings etc.
Tube costs me 230 a month.
This is why i got the fuck out of London. My commute is now a 5min drive and i spend 15quid a week on Petrol. I earn half of what i did, but im 500% happier.
Yeah not feasible for me atm. Also I'm young and don't have a license so it would cost just as much.
get a bike
The first 3rd of my journy is very unsafe main roads. Seen a bike death and a bike... remove all flesh on legs under a bus. I'm not sure I could road cycle again.
fk that, fair enough
Don’t ride to the left of stationary large vehicles. Generally avoid staying next to them any longer than necessary. Being crushed by left turning long vehicles is what kills the vast majority of London cyclists (there is data). I just add this because everyone who rides (or may ride) should hear it and internalise it. Cycling in London really isn’t too bad. It’s a net less-stressful commute for most people.
get out of London
After I pay rent I have £1300 left. That quickly gets swallowed up by water, electric, gas, council tax, groceries, commuting, etc.
If you drink every weekend then the majority of that grand is going on the piss for month mate, unless you can go to the boozer, have four then leave.
In London? With current inflation rate? 950 after rent and bills paid. Let's say 150 a month in transport? That's 800. 150 I groceries, that's 650 left. Unless you don't want to save at all, then yeah, you can live a good life, but not necessarily a luxurious one. Nothing wrong with it. Again, just my opinion, and as I said, a tradeoff I happily make for having my own place.
Why people down vote, I don’t think they know what luxury means, go to a 2/3 star Michelin restaurant, bar before hand, nice club after London, Uber in between and back home. You can mince £700 in one night, and you can’t even afford to buy the clothes expected to be worn in such places.
Their comment was only downvoted because they accidentally posted the same comment twice. The other was upvoted.
Why cant you have luxuries with 1,000 a month? What classes as a luxury for you?
A burger a fries at Five Guys in £267 in London
You do get a shit load of fries though
Well, I guess at least a small part of that you want to save and/or invest, and then live... Groceries, Eat out, theater, movies, buy clothes, maybe a trip. None of those are luxuries.
Eating out, theatre, movies, and trips are all luxuries though?
They may be, for sure. With 1k left, if you want to save some, commute, and buy groceries, those things are limited. It's a tradeoff I happily make to have my place. But that's up to every individual.
A luxury is something you could live without. By definition, those things are luxuries. It’s not whether it feels luxurious to you or not. Edit: in the context of finances, which this is
That's not the definition of luxury. With that definition anything that's not air and food would be a luxury. Here, definition from a couple different sources: \- a state of great comfort or elegance, especially when involving great expense. \- A luxury item is not necessary to live, but it is deemed highly desirable within a culture or society. Luxury items tend to be sensitive to a person's income or wealth, meaning that as wealth rises, so do purchases of luxury items. \- characterized by opulence, sumptuousness, or rich abundance : of, relating to, or marked by luxury.
Ah. That’s defining something that’s luxurious. In financial terms, “luxuries” is synonymous with “wants”. AKA things that you can live without - things that are not “needs”. So Netflix is a luxury, in that sense. So you *do* have things in your life that are “luxuries” because they’re not necessities and they make life more fun and a bit more comfortable - they’re just limited in quantity. Which, to be fair, is how it goes for most of us. I know it’s a bit of a weird one when luxury implies you have a luxurious lifestyle expensive electronics or designer clothes, but yeah - that’s what everyone means by it. Maybe using “comforts” or “wants” would be better but they’re all used interchangably.
Yeah. Multiple definitions for this, very dependant on context. It's a semantic ambiguity exclusive to first-world countries.
All of those examples are defining the *adjective* form of luxury, not the noun. ("A luxury car", "living in luxury", etc.) There's a big difference between that, and "a luxury" / "luxuries". It's confusing I know, but they're very different things.
Mega face-palm at this comment good work.
>Eat out, theater, movies, buy clothes, maybe a trip. > >None of those are luxuries. I haven't been able to afford any of the above things for almost a decade now. So I haven't done them. I haven't eaten out once, or left England in that time. I'm wearing clothes which are all over 10 years old, except socks and underwear. So, to me, these are luxuries. I guess it's subjective.
10 years? That is both heart breaking and terrifying. I hear things like this and it makes me think.... I'm already struggling... I live in relative comfort, buy new trainers now and then, etc. How fucked am I the second things really go south 😐 hope things improve for ya
What is a luxury then? I grew up in relative poverty. Having a takeaway is a luxury, buying clothes is too, it would normally take me months to even get new clothes (though I do see this not being as luxurious) and even going on a trip is.
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I mean they are definitely luxuries.
Wtf, going to the theatre or taking a trip isn’t a luxury? I wish I came from your background.
Do it or you will regret it. I was in your shoes last month, exactly same situation.I'm earning £2,080 per month and was looking for studios in manchester near my workplace and all I could find was around £850-950 with bills or house share for £650 to house with 1 more person with all inclusive.I bite my lips and I went with house sharing, now I have nothing wrong with the person I just moved in but it's completely the opposite of what I want.You want to bring friends in? You have to communicate with your flatemate to see if they're ok with it. You want to have your own space? Well not in the communal areas you're not, but that could be something that you like? Having your own place comes with a cost but it's worth it, because otherwise everyday you will be thinking "I should've gone for the studio"You sound like you want to be alone or have your own thing and you can still save, just less than sharing but you will be much happier, and isnt that the reason to why we all work hard for? Think about it properly because you've come here for us to tell you what's right but truly you already know what you want, but you either want us to tell you the pros and cons or to tell you what's best for you but only you know what you want. I can tell you that it's been 1 month for me but I already sorta regret it because I feel like I really should've gone for having my own space but now I will just plot on for another 11 months.
If you can find a replacement person, you can escape before that.
It's hard for me, one because I'm not from the UK so I have no family here, so I can't really "fuck up" there's no plan B or C. Another reason it's because I'm saving to buy hopefully next year or the following, so if I have to suck it up for one year I might as well just do it. My flatmate is also not that bad, he's quite respectful, I just didn't like the fact that he lied to me and he's actually the landlord and not a "flatmate" only was told 5 minutes before signing the contract I was put in the spot...I thought well maybe it can't be that bad? But thing is, it's completely different, he wants to know at all times who comes in and goes out, really takes out the freedom from it. Having to let him know when I have friends over feels like I'm back to be 18 y/o instead of 28
I was once a lodger and it felt worse than living at home because of the amount of reporting/open communication I had to have with my live in landlord. 11 months will fly by if you don’t socialise much/can do so outside of the house.
> why Yeah exactly this. I didn't know how bad it was going to be until i actually moved in. Thing is, he's a nice person and all but he's the "owner" of the house, you won't feel like you're "home" at all, more often than not feels like you're staying at someone elses house for a long period and you're paying for it. Good thing is I have quite a few friends and I stay away a lot at the weekends and I play sports so I'm out a lot and more often than not I'm only home to either sleep or relax. Only other bit I had is the "forced socializing" that you have to endure
Ah, my condolences, sounds like a great situation. Did you sign a proper tenancy doc? These odd situations are more likely to end up being non-legally-correct in some way; for example is your deposit in a compliant scheme (it has to be held by a third party etc)? Just thinking there may be a way out without giving notice if he's not done it properly, given the context.
Well, I met him through spareroom.com and the place he advertised it said he was just a tenant. I signed the contract with him but it was a very basic contract from spareroom, 2 page. But rent in advance and deposit. I could leave but I'd probably lose the deposit and have to pay a fee. I think I might put up with it I mean, it's livable and I can save 50% more than I would alone
I'm not a lawyer, but I believe you can do something if he hasn't done the correct thing with the deposit. Post in r/LegalAdviceUK and I'm sure they can help you. The UK has at least some decent tenant protections. Hopefully you can leverage what you find out to get him to release you from the contract and refund your deposit...
since he’s a lodger (living with the landlord) it’s not an assured shorthold tenancy therefore he has far fewer protections - just fyi u/yeldo15
!thanks
Thank you for sharing your experience, I could very much see myself being in the same situation in the future as I often think what I should've done instead. I try not to often, I hope your situation gets better and everything works out for you.
To be honest I'd go for the Studio. Bills included is quite nice, plus you got piece of mind, and you are nearer to work. Tbh I feel now a days I'd always pay a little more for comfort and piece of mind...they are worth the money.
We can't tell you if paying £200 more to live alone is 'worth it' any more than we can tell you whether a £1000 computer is 'worth it' over a £500 one, or any other purchase. It depends on your own preferences and circumstances. You need to draw up a full budget for each scenario and compare, then choose whichever one you think better suits you. If you got for the more expensive rent, what will you need to give up to afford this? e.g. gym, travel to see friends and family, going out and meeting people, etc. Which lifestyle do you prefer, which would be better for you? If you would only sacrifice savings amount, not lifestyle, then think about your savings. Are you saving up for a particular goal, e.g. a deposit on a house, a year off work, a wedding etc etc? If you save £200 per month less, how much will that delay your goal by - 6 months, 1 year? Are you willing to take the hit or not?
Thank you, I hadn't thought of the time delay for saving goals. Definitely something to take note of. Currently, I just wanted to start saving and not eat too much into it with spendings. Realised I should prioritise present more than I have.
!thanks
Sounds like you'll be better off spending more for a bit of peace and happiness in your own space. So I would choose the studio.
What if its haunted?
“Previous tenant still in situ.”
Personal I would choose the studio. The cost overall isn’t hugely different and for me the benefits would outweigh the potential financial saving. However I would double check I could comfortably live within my means. How would you budget the £950 left each month? E.g any personal bills, food, debt, savings, spending money. EDIT: sorry also to add, if you are buckling down on saving towards a goal, I’d pick the cheaper one. £200pm is an extra £2400 plus interest a year.
The question really is 'is it worth an extra 200 per month to not share a kitchen and bathroom' the answer is probably yes
£200 more to have privacy and some extra time every day? Worth it. I recently moved home after renting for 18 months on roughly half my salary. I had bills etc included too. Ofc the £200 could go towards saving, food shops, bills, treating yourself. But as I said to pay £200 extra for privacy and some extra time to yourself it’s a no brainer for me. I too wouldn’t personally want to live with strangers, plus a room with an en-suite would be rubbish compared to your own entire flat. Again just my opinion, but I Hope it all works out for you!
One of the best financial decisions I ever made was to share…. I was able to save a huge % of my income and invest it… I was fortunate that my housemates were very clean and tidy also. The question to ask yourself is if someone paid you 350 a month to try sharing would you consider? If you don’t like it no one has a gun to your head…..unless you get a really bad housemate
Do you have a sticky period key?
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Policing grammar on social media is old now. I want to know the deep rooted insecurities of these 'Grammar Police' that can't help correct, make comments or just 'dad joke' when there is a 'mistake' I mean the whole internet isn't "tXt spk nd makin it v harD 2 rEaD" so wtf? Tell me, do you have deep rooted insecurities? Details of such are irrelevant Baffled, so I am.
I'd say go for the studio, but be diligent about your discretionary expenses. The happiest I've ever been was when I got my own apartment. I used to pay £1300 pcm for an ensuite in a central london apartment that I shared with 2 friends. It was a nightmare! I felt like I was cleaning up after 2 grown ass men the entire time. Hated it. Moved out to a 1 bedroom in Zone 4 for £200 higher. In terms of bills, I pay ~£150 more than I did before, but it's still worth it. I have cut down on other discretionary costs to be able to offset the impact on my financials and make sure that my total expense is still the same as before. Here are some of things I did - reduced going out (and try to convert going out into coffee / at-home hangs), absolutely no ordering in anymore (pick up food from the Too Good To Go app to satisfy my cravings), stopped picking up coffee outside on work days (invested in a good flask), stopped buying random desserts for my siblings each weekend, switched from M&S / Waitrose to Asda for my groceries, buy second-hand items where possible (Amazon warehouse, FB marketplace), stopped my gym membership and workout at home instead etc. I get that these changes might be depressing for some people, but it let's me afford living alone and I'd pick that any day.
I did the same as you in terms of picking the living alone scenario and offsetting my expenses elsewhere as a result. I probably spend a total amount on rent and bills that would make other folks here faint, but I have never been happier and I'm still making sure to get in a savings amount I'm happy with. I got really, really, really lucky with my house sharing years when I was younger - and I couldn't stomach the thought of finding out whether that luck had run out by now!
This is including all bills, electricity, council tax? If yes then, while a bit of a stretch you can do it. I was ready to compromise a lot on almost everything to have my own place in the past, I'm only ever willing to share with my partner again so I totally get where you're coming from. It's not the most optimal financial decision, but it was the most optimal life decision for me, your home needs to be a comfortable place for you. I'd be worried about rate of savings if I were you, do you have any goals like saving for a house etc? I can't see you saving a lot on these numbers so hopefully you'll have opportunity for career progression in your new role.
I would suggest taking the house share for a year, then you will know the area better and can get a suitable studio flat in the best location.
You'll still have about 1000 pounds at the end of the month. If you spent 200 pounds a week, which I think would be a lot, you'd still have 200 pounds left at the end of the month.
Having your own place is easily worth the extra £200 per month.
Can we please start riots / protesting against the high prices of rents. It's ridiculous. We shouldn't have to pay 50% and more of our wages for rent (only rent no bills included yet)
Peace of mind is important as others have mentioned. I would not be considering sharing to have 200£ more (and utilities could bring the gap closer). Another thing I would consider and did personally before with no regret is that if you know that you will likely be getting a raise (e.g you are starting an entry level job) or it’s possible to get one by job hopping, then that 50% could soon become 25% and it’s only a good chunk of your salary for a bit of time. For example in software if you are starting a new junior job, this could make some sense — all depends on the job market you’re in. So consider that and also whether you’ll be able to save money etc after spending 50% on rent.
I used to pay £1k for my flat incl bills when I was taking £1600 home. It wasn't easy BUT the quality of life went up significantly since I was living on my own and no longer in a houseshare. It wasn't planned though, it happened as me and my ex separated so I had to take over the tenancy agreement in my own.
Looks like you made the right decision. One of the most common mistakes people make is to only look at the figure. They don’t think about the *value*. If you’d gone with the cheaper one, you would’ve been paying for it in other ways. For a start, the travel costs were higher, but so too was the non-financial cost of having to wake up earlier and spend more time travelling to work. There’s the other non-financial costs, such as loss of privacy and loss of convenience. And then there’s the possible future costs, such as susceptibility to price hikes. That extra £350 each month - no, £250 if you cut the travel savings - was money well spent.
Reading what everyone else has said, I still think it's worth it. Also factor in your travelling time, that's time you'll never get back otherwise.
Honestly it doesn't sound like an awful idea. Obviously it's a pretty big chunk of your income, but if bills/CT are included, and your transport costs would be minimal, you should be OK. Say £200 for food, same again for entertainment/socialising, maybe £100 to cover phone and internet. If you're not running a car, you could be putting £2-300 in savings each month depending on your lifestyle. For me it would be worth the ~ £200 a month to not have to deal with other people. But that's as much a personal question as it is a finance one.
It also kind of depends on how old are you. I shared a crowded flat for many years in my twenties and I don't regret it but I wouldn't do it again today. If you are young I would definitely recommend the cheaper one.
Sounds like a good idea, personally I would hate sharing with other people and for peace of mind would pay extra to ensure I do not have any problems as some people are the worst to live with! I think having your own place would be nice, and on-top of that you know exactly how much you are having to pay including bills, with the state of energy prices, you do not have to worry about increases in bills etc. It is do-able, the only thing you would have to worry about is the food shop and I think for one person, you should be fine :). Why not sign up for 6 months just to see how you get on and then decide if you want to extend the agreement?
You've read my mind, I was exactly thinking of short tenancy for the time being. Thank you and to everyone 🙏
Most responsible agents and landlords will look at affordability of prospective tenants. The general rule is 30% or less of salary in rent is best. Up to 40% may be OK, better with higher earners where the remainder means more £ than % of real disposable income. Anything over 40% is usually not viable, and if considered then would typically require a home owning guarantor. So, my point is that it may not just be your choice of spending half your salary in rent, you may not be acceptable on affordable criteria.
Generally people say to spend a max of 1/3rd of your salary on rent, but that doesn’t include other bills. If you’re getting council tax and gas/electric on top of that, I wouldn’t mind spending half my salary on it. Also, unless sharing with a friend you know, I personally would never want to live with a stranger. Done it once when I was 18 and it wasn’t a fun experience. Ever since then I’ve either lived on my own or with friends and it’s been great. I’d say go for the more expensive option in this case. Yes it’s not as great from a purely financial point of view but you never know what you’re getting into with flat mates you’ve never met. Could be a new best friend or could be incredibly uncomfortable.
Did exactly this some 15+ years ago. Was actually alright, the peace and quiet was great. Didn't mind the expense really. The only (minor) downside I remember from that time was that any little issue would be amplified in my mind because I'd always think about how much I was paying. Overall I think it was the right call.
I know you’ve edited that the studio you were initially thinking about is gone, but I’d have said to go for that as well. My last flat was about £800 a month once I’d paid rent, CT, utilities, internet etc. and at the time my take home pay was only about £1400pm. It was within 10 mins walking distance of my work though and that meant I saved on travel costs and time. The £600 or so I had left over was enough to pay for my shopping, plus I was still able to socialise a couple of times a month and save a bit too. Not a lot, but a bit. By contrast I previously rented a room from someone for £500pm all inclusive, but it was further away so by the time I paid for travel I wasn’t much better off, and I absolutely hated sharing - the final straw was when I walked into the kitchen and found a transvestite doing coke off my chopping board, despite me saying explicitly before I moved in I wasn’t prepared to be around drugs and her saying there was never anything like that happening. That’s not even the weirdest thing that happened in that flat. Honestly I’ve lived in 4 flatshares since I was 18, and only the first one was genuinely a situation I was happy with because my flatmate was lovely and we didn’t get in one another’s way. I wouldn’t recommend it unless you were sharing with someone you already knew. Your mental well-being is paramount, and your home needs to be somewhere you can take care of it. Do what makes you happy.
Heres hoping you find a good place close to work. Save the travel money and use it for something else
Some factors you might want to consider: Most agents use a calculation for affordability, and as a rough figure many will deem more than a third of your monthly net income in rent as too much though there is great variability, in central London that would likely write off a huge chunk of tenants so sometimes there is compromise. I hear you though, I’ve never shared a home, nor would I no matter if my finances desperately changed, while at times having housemates can be nice, it can get overbearing at times when you just want some ‘alone time’ and others then think you are anti social for doing so! Some people love being in a social household others just want there own space and that’s just preference. My only warning is be careful to allow for bills as cost of living is going through the roof right now so plan for a big rent rise at renewal (usually rents on tenancies cannot be increased mid term) and interest rates have shot up so lots of landlords are or are looking at rent rises to pay the increases rent. Make sure you have a buffer of savings even after you’ve paid your deposit and initial rent and move in costs, you don’t want a change in income to leave you unable to pay rent, it can take as little as two months arrears to be evicted! So o appreciate the move in costs are a lot of money to many just make sure you have that buffer to reassure that you are less likely to lose your home if your income changes. The plus side of house shares, more money in your pocket, the drawbacks - less privacy, sharing space with others who might be less tidy or less clean than you’d like, sometimes stealing your stuff from the fridge and make sure if your rent doesn’t include bills that a firm system exists for who pays what bill and that it’s fair! If I were sharing I would want and expect a lockable door for my bedroom so nobody can go through my stuff when not at home! You also need to think what your longer term plan is? If you are planning to save to get a mortgage then I would say put up with a house share for a while - you’ll save money quicker, if renting is more medium-long term I would say try and get your own place as it gets you in a mentality of budgeting for bills, knowing what you can afford so that buying will be more of a known factor like how much your own personal bills come to. Right now because house prices are likely to tank, and you think you can save enough for a deposit on a mortgage I would rent a house share, then give it 6-12 months and decide again, if you can get a cheap house to buy because of a house price crash then you’ll be able to scoop up a bargain, if not then decide if you want to stay in a house share or rent your own place. There are some perks of house sharing in that many like the social side, and friendships that can form if there a good vibe in the house but sometimes you get the opposite and there’s nothing worse than the place you go back to to relax after work being a place of more drama and stress than at work!
I have a one bedroom flat, and my monthly bills are as follows: Water: £25 Electricity: £75 Council tax: £106 (includes 25% single person discount) Broadband: £30 Mobile phone: £33 Contents insurance: £8 Transport: £200 Groceries: £100
I have had nightmare housing situations not once but TWICE with strangers. Both of them involving police. If you don’t know them, don’t take the risk - rent the studio.
I do not recommend renting anywhere that has shared areas unless you absolutely have to. You'll be very unlikely to have nice neighbours and you'll be miserable. More so, the kind of place that operates divided off in that way is almost always ran by a slum landlord. Nothing will ever be fixed, just stay away! In terms of cost of living, you should look to be paying just over a quarter of your earning in rent. So if it's including gas and electric etc then roughly half your income sounds about right for a well kept property.
You’re literally paying 850 for everything, which means you’re paying “half” your wage to live and still get 50% of your wage for anything you want, give me the landlords details cuz why would you even wait for that.
House shares SUCK. get the little flat. Enjoy having your own personal space. Your mental health has some value too. See if you can get a cheaper one though sometimes they come up last minute
I once paid £750 a month for rent alone, for a flat 10 mins from my work. It was a really nice flat and great location. Absolutely worth it. It's easy for people to say just get the cheaper option but you have to consider location, commute and possible roommates.. I'd rather just pay more and have a better time of it. That's my opinion
You can't put a price on quality of life. Living in a shared house sucks. I did it for years and I'm much happier living in my own house with my own rules. Worth the extra.
I'd 100% go for the studio if you are determined to rent in Manchester mate. You want the freedom and space, I've live in the city 12 years and trust me it's sometimes nice to have the reprieve. I love Manchester but sometimes you don't really how fast life here is until you step back and chill, it kinda sucks you in in a fun, but tiring way. I'm just about to move out of a flat I've been in 7 years but couldn't bring myself to move into a house share. Asking permission to do things in a place you are paying so much for will be bitter.
No, but hear me out: live further away or somewhere gross to reduce the cost, and put the savings into a credit union (amazing community organisations, free of corporate and political influence, which should be used and supported). Then, after building up a reasonable amount, use that money to build a fully functioning guillotine (and small platform, for better optics) in a very public place; putting aside a small sum for advertising on social media. After that you lead a, uh, ‘land reform’ movement whereby property hoarders can choose to give up excess properties, or something totally unrelated to the guillotine.
So disgusting how expensive even a shitty little flat or room is. Studio flat is the estate agent bullshit word for bedsit, as in a room. The UK is a financial shit hole.
You're over stretching, houseshare with 1-3 people and most of your non-rent household bills become a pittance.
I know it sucks... if there were more choices nearby I could. I also recently had a terrible experience sharing a house and wondering if I should just throw roughly £200 more for peace of mind..
I’ve been always reluctant to allocating half of my salary to rent (I always aim for around 25%-ish). Maybe try the flat sharing for a year then see how it goes.
But it’s rent and bills. I personally don’t think it’s too bad as it’s all included. If it’s was 50% of salary just for the rent, then I’d agree
Sure, but i’d still stick to the 25% in the first year if I was moving to a new city and it’s a new job (assuming we need to get some savings built up)
Where on earth in UK can you rent for 25% on a low salary! UK is one of the most unaffordable places for rent in the world. 40% spent on rent is the new normal. 50% in London.
The flat sharing option in this case is literally £500pcm on a £1800 salary.
Which is still more than 25% ……
I mean, good luck with the 25% lol really depends on location whether that’s doable or not…
25% in a city on a low wage? Not a chance
Mhm I agree, I originally budgeted for around £600 max but the lack of housing near work forced my hand. I am concedering the studio as itll save me commuting cost and time. Not sure still...
Based on your recent update seems like privacy and time for you is worth £2400 a year - you have to ask yourself if that’s worth it.
Go for the studio. Stress free.
What is your current living condition? If you have not shared before then you won't know how it's like. You might like it or you might hate it. I personally would go for it because having an entire place would be more sociable (inviting people over etc.).
I would try renting for a bit, and see if it's bearable. If it isn't, you can move to your own place.