One of the big things that I was always worried about when I was looking to rent for the first time was how much money that I’d need to set aside for all of the various bills and such that would hit me every month.
Being an accounts geek, I run our household accounts like a business, and so perhaps this may help someone, perhaps it may not, but I’m hopeful that at least someone out there may find it useful!
I’ve only shown percentages, so the best thing to do is probably to use the Rent figure first as the main multiplier, and then you will have an idea of the total expenditure that you may have – e.g. if your rent is, say, £500, then it is 57% of a total pot of £877 [(£500/57) x 100].
Of course, your percentages may well turn out differently depending on the costs you have, your individual circumstance, and even down to your postcode – as you’ll have different council tax rates etc, but taken with a pinch of salt, hopefully this still proves a worthwhile share.
Context: We are two lads in our mid-twenties (plus kitten) living in a nice/modern 1 bed apartment in the heart of Manchester City Centre.
My figures run from 28 January 2012 – 27 January 2013.
Supermarket - We do a once a month shop with Ocado, who, admittedly, aren’t the cheapest. The reflected amount excludes random purchases made by the both of us through the month, however the bulk of food in our apartment comes to us via this single monthly Ocado shop to restock our cupboards.
Utilities – Electric and Water. We don’t have gas, but all of our heating etc comes from electric heaters.
Council Tax - we fall under Salford Council.
Fudge – Insurance, Vet’s bills etc.
Gym – Two memberships, fairly low/moderately priced gym.
Insurance – Contents, two Mobile Phones and some out of home stuff – pretty comprehensive.