25k isn't sufficient for a single person nowadays.

[MintAnt]

I'm 33 and earning this in public sector, so I'm currently applying for promotions. I am single and live alone, the vast majority of my colleagues are either in their 20s and live at home, or live with a partner/spouse.
I had to dip into my savings so having to build them up again, I only have £500 which is shameful. I've just signed for a tiny studio which is £600 pcm including all bills and just over a third of my take home pay.
My plan is to do a lot of overtime whilst applying for promotion and have the savings I hopefully need this time next year. Fortunately I live in an area where it's very cheap to buy, you can get a 1 bed flat for 70k.
It is depressing though.

It is ridiculous, I’m a midwife and was desperate, I supplemented my income very successfully in the end by starting my own travel business. Do you work full time?

If you can buy a flat for so little you're in a pretty good position, I'd say. A mortgage on 63k is less than your rent.

I'd agree with you, I work for the LA and a lot of people are on the 23.5k- 27k mark. It really is not much to live on once you consider rent/ bills. I have DC so get top ups of UC and have a second job which makes it all liveable.

YABU. Just over a third for housing and bills is very good especially as you live alone. I mean, I suppose you could house share if you wanted to get it even lower.
What are you spending the remaining 2/3rds of your income on?

Sorry, just to be clear, you don't think that 2/3 of your take home - approx £1000-1200 a month is enough "fun" money for one person? Really?

Oh if only that were fun money 😂 that's for savings, food, transport, anything else. My point is that this £600 is for an absolutely poky studio.

I earn £3200 a month, my bills are £2600. That doesn’t include food, petrol, etc. YABU

Am on 25k OP and it’s a relentless struggle, live in smallest property possible, rent still very high, then all other bills on top, can’t make ends meet and looking for 2nd job

sorry OP, I think £600 for rent and bills is a pretty good deal!

A third of take home pay is reconmended for rent /mortgage

Leaving 2/3 to pay for all
Other stuff

You sound in a good position. As many have rent 40/50+ %

We live on that as a family of four!

I earn the same and I have to rent a room in a shared flat as I'm determinedly saving for a house deposit as fast as I can. I do evening and weekend work as well, and spend my spare time generating other income like doing surveys, and selling old possessions and bargain hunting. I don't think relying on a single job is enough when my salary is that low, and I couldn't justify forking out for a self contained flat although it would be nice to have the privacy.

£600 including bills is pretty good really. 20 years ago I earned £27k and paid £620 PLUS bills and felt like I was rolling in it....

The fact that minimum wage is about to be over £23k proves that.

you’re lucky to find somewhere that is £609 including bills. Some places you’re paying that for just a room.

i was on £23k a few years ago and felt like I was rolling in it. Costs have increased so much that £27 isn’t enough and the UC too up I get because I now have a child barely touches the sides.

That's cheap £750 for one room in a shared house near me. You've got more spare cash than I have for a family of 4. Review your spending maybe.

2/3 of your wage leftover is very different when you are earning £23k compared to earning £60k.

I'm not sure percentages or fractions are really a workable measurement when there are such vastly different salaries.

Surely the lowest amount a single person can live on after housing is X amount and not.

Is that really your total income including wages and universal credit plus child benefit?

Try being on less than 20k 😂And I pay more for a shared house than you pay for a studio, albeit it includes bills and a cleaner who comes biweekly. It's definitely enough to live on, as in you won't go hungry, you can afford to socialize and you can put a bit in savings, so I don't find your title quite accurate.

Yes that includes benefits.

Be glad you can have your own place for that money. In most of the south, that'll only get you a small room in a house share. (And I'm not even including London

Luxury! We lived in a cardboard box in't middle o't road.

You're not unreasonable OP. It's all very well saying a third of your salary is fine but if it's a third of fuck all it leaves fuck all.

I bring home about £1900.

Mortgage £961 (up £250 in the past year)
Gas/electric £127.
Water £23
Council tax £187
Life insurance £14.
I don’t have a car so I’m saving on that at least.

But if you can’t afford to live on £1200 spare money after rent and bills then you’re budgeting wrong.

A family of four with one parent earning a full time minimum wage, paying about £1000 a month rent would get close to £20,000 a year universal credit. So a total of around £43,000, you should check you are claiming all you can

Luxury! We lived in a cardboard box in't middle o't road.

Show off! I lived in a bin bag and would’ve loved to upgrade to a cardboard box 🥹

Seriously though OP I think generally you’re right it’s a struggle for a single person to live on that but on the bright side you’re fortunate /have been wise to remain in what sounds like a very affordable part of the country.

I was paying minimum £600 for flatshares in London several years ago on about 27K. It’s good you can find somewhere on your own for £600 inclusive of bills as I don’t think full- time working adults over the age of 21 should need to flatshare (unless they want to) but sadly for many in more expensive areas it’s a necessity.

If you have £1200 left over after both rent & bills that sounds decent. Are you paying large debts or a high car payment or something that is causing you to need to dip into your savings?

btw, there’s no shame in having no/little savings! The only shame should be on those running the country who have encouraged this constant cycle of low wages, spiralling bills, rising council taxes and high housing costs.

Indeed. But whatever way you look at it £1000-1200 per month for one person's food and entertainment is pretty OK really. It's absolutely more than sufficient. Luxurious actually.