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Topic: Another budget post...  (Read 1245 times)

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Another budget post...
« on: June 15, 2007, 02:35:52 PM »
OK, I've gathered info from previous posts and other online information/research. We are working in central london and will have to live in outer london or slightly outside to do this budget for a 4 bed house I'm sure. Here's what I've got... please let me know what you think (if i'm completely off my rocker in my estimates of some things or what seems completely spot on,etc.) All numbers are pounds, not dollars, and are per month.

Total net monthly salary   5309 (gotten by an online PAYE calculator)

Rent   1500
Council Tax   200
Daycare   1500
water   30
gas   30
electric   30
tv license   10
tv service   50
telephone   25
broadband   30
mobile phones (2 people)   40
private health insurance   50
tube loans (2 people)   220
food/formula/diapers   500
contents insurance   40
savings   100
car payment   170
car insurance   50
car tax   15
gasoline (car)   100
fun   200
clothes   50
Total   4940
Diff   +369


This is based off of our current American salaries. Our company has mentioned a cost of living increase but we're not sure if we'll be getting it or how much it will be if we do.

Also, we will probably not get a car right away but if we plan to at all (weekend trips, driving to Sweden occasionally, etc) its better to budget it in from the get go to make sure you can do it later. If we don't get a car, then hey, more fudge money or savings.
« Last Edit: June 15, 2007, 02:38:10 PM by julia_atlanta »


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Re: Another budget post...
« Reply #1 on: June 15, 2007, 03:32:39 PM »
Your new budget looks pretty good to me, although I hadn't realised that day care would be so expensive!

A small tip regarding TV/phone/broadband... some companies, e.g. Virgin Media and Sky are currently offering deals where you can get a basic cable TV package, unlimited broadband internet and a phone line rental all for about £30 per month (for a certain amount of time - usually 12 months). This doesn't include your phone calls, but would work out a lot cheaper than your budget estimate of £105 per month for the three services individually.

Also, I know you're budgeting for future car trips around the UK and abroad, but if you're in London, chances are you'll be using the tube to travel around the city more than a car when you get one. I currently drive 200 miles a week and my gas costs are £80 per month, so unless you'll be driving the equivalent of about 30 miles every day, you probably won't have to allocate so much to gasoline - did a quick distance search for Sweden and judging by the fuel efficiency of my car, a trip to Sweden and back should cost somewhere in the region of £300 or so for gas, so if Sweden was the only place you were driving to, then that's only 3 months worth of your budget.

Since you haven't moved here yet, it's difficult to tell how much you'll actually end up spending in each category, so you may find that you've under-budgeted for some things and over-budgeted for others, but overall, it seems fairly reasonable to me.



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Re: Another budget post...
« Reply #2 on: June 15, 2007, 07:37:57 PM »
Thanks! That helps :)


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Re: Another budget post...
« Reply #3 on: June 17, 2007, 10:02:03 AM »
A small tip regarding TV/phone/broadband... some companies, e.g. Virgin Media and Sky are currently offering deals where you can get a basic cable TV package, unlimited broadband internet and a phone line rental all for about £30 per month (for a certain amount of time - usually 12 months). This doesn't include your phone calls, but would work out a lot cheaper than your budget estimate of £105 per month for the three services individually.
We don't have cable, but we have broadband through Orange that includes free UK (most numbers) *and* international calling. For that plus BT line rental we pay about £32 per month.


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