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Is £1k a month enough to live on?

(232 Posts)
EL8888 Fri 14-Feb-20 16:10:23

I was debating with my mother whether it was possible for a person to live on £1,000 per month. Bearing in mind there is no rent / mortgage to pay (house is paid for), no debts and they own a newish car plus they have a Freedom card to use. They live alone with no dependents or pets. I said it was enough and she said it really wasn’t

FaFoutis Fri 14-Feb-20 16:11:44

It sounds like enough to me.

Thehop Fri 14-Feb-20 16:12:24

More than enough! Of course it is!

imip Fri 14-Feb-20 16:12:30

Yes, I think it is.

sapninLadies Fri 14-Feb-20 16:13:00

nah it's not enough

Iggly Fri 14-Feb-20 16:13:44

Plenty! One person?? Absolutely plenty with no rent or mortgage

DinnersReady Fri 14-Feb-20 16:13:52

I suppose it depends on where you live and what kind of lifestyle you're used to.

Paddingtonthebear Fri 14-Feb-20 16:14:05

Depends what their living costs are I guess

CakeandCustard28 Fri 14-Feb-20 16:14:10

Plenty if they have no rent or debt and no dependants. People need to live within their means.

ilovesooty Fri 14-Feb-20 16:14:50

Depends what spending they want to be able to do.

I take it this is your mother you're discussing?

HalfBiscuit Fri 14-Feb-20 16:14:49

It's loads if you have no rent or mortgage.

fussychica Fri 14-Feb-20 16:15:02

Definitely.

Yogawoogie Fri 14-Feb-20 16:15:08

With no rent/mortgage, no debts then yes

EverythingsEasy Fri 14-Feb-20 16:15:29

Well we have not much more than 1,000 after bills and that’s for 4 of us, so yes! It’s plenty!

wildcherries Fri 14-Feb-20 16:16:09

It's about what I have before any bills or any living expenses comes out. I manage on a budget. But no one can say without knowing your outgoings.

Kittensinmysupper Fri 14-Feb-20 16:16:56

I have 750'after rent , with 1 child still at home ... AND I live in the south east uk... so yes, it's more than enough!

PorpentinaScamander Fri 14-Feb-20 16:17:32

It's more than I have after rent and I have 3 people to support.

AllPointsNorth Fri 14-Feb-20 16:18:21

Students live on far less. I can manage to run my house and buy basics on £1000 pcm, with care.

formerbabe Fri 14-Feb-20 16:20:43

Doable but very very tight

My council tax is 135 a month alone

Then

Water is about £50 a month

Gas and electric.

Phone and internet

Petrol

Car insurance

Car tax

Food

You will scrape by but you won't be flush and you'll be absolutely screwed if your washing machine breaks down or any other emergency occurs.

username1724 Fri 14-Feb-20 16:21:46

Absolutely enough, that's £250pw, far more than most have! A large part of that would be disposable.

Batqueen Fri 14-Feb-20 16:22:24

Yes, although would be difficult if anything significant needed doing to the house.

Iminaglasscaseofemotion Fri 14-Feb-20 16:23:39

I think it depends how much the car costs every month, plus insurance. Then living expenses, so other insurance, phone, electricity, council tax.

ReflectiveGingernut Fri 14-Feb-20 16:23:55

I have £700ish after rent - myself, cat and a pre-teen at home. We live fairly modestly but do have treats and nice things. I'd say £1000 is plenty to fund a nice lifestyle for a single adult with no rent.

KitKat1985 Fri 14-Feb-20 16:24:33

It's hard to say without knowing what their bills are each month, but I think on an average month it would be fine for one person to live in. But if you have a bad month where you get a £500 car repair bill, or have to buy a new washing machine etc etc, then you will be a bit buggered. There's not much room in that budget to put money away for emergencies or to save for a holiday etc.

formerbabe Fri 14-Feb-20 16:25:53

I have £700ish after rent

Does the £700 have to cover bills too? If so, I cannot see how you can live on that every month.

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