As a retired person could you live on £10,000 a year.?

[allamberedover]

To cover bills but not housing costs.

Personally? No. But people will have to cut their cloth.

Well no.
But given that state pension is £11,500 plus with no other income the person would qualify for additional benefits, no one would have to surely?

I’m would you be paying tax on that? If yes the. It only works out to £666 per month. It would be very tight OP.

Yup. We already live on £12k wages (both part time) per year each and that's plenty for us. Mortgage long paid off, so just running a couple of fully owned cars, food, utilities, and a couple of modest holidays per year. We've worked out our costs for when one of us dies, and we reckon state pension of £12k for just one of us would just about be enough to run the house (cheaper utilities), just one car, and half the food, again with modest holidays/day trips etc. We have savings for anything "big" for the house, such as a new roof, etc so that won't need to come out of pension.

It’s hard to imagine when you have a mortgage and 3 teens at home, but by retirement age I’d assume housing is paid off and dc left home, so maybe I could. Probably not because I want dogs and goats, but I realise that’s not the normal retirement plan.

Yes, so long as it increases with inflation and assuming not paying for care needs or other heavy costs associated with a disability.

250-350 a month on bills. 200 on food. 250-350 on everything else. Would need to build up a savings fund to replace household appliances etc, or to plan to pay in installments. Might get help with council tax too. Easier if you live in a city and are old enough for free travel. Not impossible at all.

I manage on that via disability benefits. Not retirement age and no housing costs as I own my house outright.

With no housing costs, I reckon so.

I think I could because people do and I'm not special.

I don't think it would be easy or fun. I'd have to find a cheap to run home though with small council tax and low heating costs in particular.

I think additional health problems would make it harder though. So if you need medicine or can't walk places or need heating.

I also struggle to imagine it as at the moment as there are 4 of us eating, being clothed, travelling etc. I know stuff like lighting and tv licence would cost the same, but some stuff would reduce.

is t hat £833 a month?

No we couldn't

i dont think so

You wouldn't pay income tax on earnings less than 12,570, so it should be just over 800 a month.

£900 a month - yes. Utilities - £100, water, £20, broadband £25, tv licence £15, council tax say £200, phone say £20, food say £250, transport say £150. That’s £800 (and those are generous monthly estimates) leaving £50 a week, probably more, for one person. Won’t be a life of luxury, but enough to buy a few items of clothes each year, have a few day trips, the odd meal out and small presents for grandchildren.

I'm widowed and retired and own my home .
I don't have a high income and I possibly could survive on £10,000 a year but it would mean a very frugal life style without any even small luxuries and no saving at all.

For one person, maybe. For a couple, probably not.

When I need to be I can be really frugal, but 10k a year is only £833 a month. My bloody council tax in an average area is £210 a month.

Although your OP says not to cover housing costs I've assumed this means mortgage/rent. Or did you mean council tax as well?

Water, gas, electric, home insurance are another £200 in total per month for us at the minute. Including council tax above that would leave £423 for everything else. Food, (has anyone noticed how much food has gone up by recently?!) petrol, car tax, insurance, saving a bit for repairs, tv licence, broadband would eat up most of not all of that quite easily.

..and that's before even thinking of other "luxuries" like saving for Christmas and birthday presents, days out, meals out, holidays, haircuts, dentist appointments, clothes etc.

My bills (council tax, water, gas/ electric, mobile phone and broadband) come to around £350 so that would leave under £500, I’d probably struggle to run my car or keep my cats and would have to be very careful with spending but with adaptations to my lifestyle it would be doable. I am in a 3-bed house so I guess I could also downsize which would likely reduce council tax and utility bills.

No. I couldn’t it would be a dire existence.
My mum is 89. She has a work pension (she worked in a shop) in addition to state pension. She pays a service charge for her home and the normal bills. She had a car until recently and has to take taxis now as no public transport. Things like Sky TV, M & S food and the odd treat are not cheap either. She buys new clothes from time to time, occasional new appliances and had to replace a boiler and outside steps quite recently. Also presents for grandchildren and the like. She has just about enough and is careful but could not do it on £10k.

Are you asking because you have to, OP?

Yes I think so. I'm naturally quite frugal and my essential outgoings including mortgage and supporting 3 teenage kids are around 2k a month. Don't forget that as a pensioner on a low income you'd still get WFA and you'd get free prescriptions, bus pass etc.

I probably could, but I probably wouldn’t Like it much.

Given the day to day costs of my disability, no, I don’t think I could manage.

So many replies. And a range of views.
Yes I did mean not to include rent/mortgage.
Of course it depends on priorities and it would need managing , but I think it would be possible .

you woudl be using your winter fuel payment for christmas presents

I only need to support me so Easily Yes.