If you’re thinking of finally moving out of your parents’ home and setting up your own, of if you’re thinking of leaving the home you share with your partner but you’re not sure if you can afford it, this article is for you. There is a lot to consider when it comes to figuring out whether or not you can afford to live alone. However, with careful planning and budgeting you may find that it is more accessible to you than you first thought. Here, we run through the normal expenses you can expect to be covering.
Bills, bills, bills, they’re the bane of most people’s lives but you just can’t avoid them. The most significant payment you will make is your rent so make sure you go for a property that doesn’t stretch you too far. The second most important accounts you will need to set up are with an energy provider to pay for the gas and electric supply to your home, and with the water supplier. There are ways to save for example, opting for a dual plan with one provider for your gas and electric can often lower the cost. And if you’re living alone it’s best to have a water meter so that you’re only charged for how much use. As a single occupant you won’t be using the amount of water that most plans are based on.
You need gas, electricity, and water to survive but these days the internet is seen as a necessity too. You should be able to afford the basics by checking out cablecompare in terms of entertainment which usually consists of a monthly payment to an internet supplier and the TV licensing company. There are ways around some of these expenses for example, if you rely solely on TV catch-up services via the internet, you don’t stream live TV using these, and you avoid BBC iPlayer all together you would not classify as needing to pay a TV license. You would need a Tv Stick to be able to link your television to the internet, but these can be purchased reasonably cheaply. And remember your phone bill needs to be included in your monthly budgeting, so make sure you’re on an affordable plan.
If you rely on a vehicle to get you from A to B, it can be a major monthly expense. You need to pay for insurance, road tax, petrol, and repairs. If you use a vehicle for your work, you may need insurance for your lorry.
lorry too for example. Depending on how far you need to travel, it can be more beneficial for you to rely on public transport so research the difference in cost for both options.
There are certain expenses we can’t avoid when living alone for example, rent and utilities but when it comes to entertainment and transport expenses do your research and think carefully about what you really need because these could be areas in which you can save. Independence has so many benefits and by making a careful plan of your income and realistic outgoings you may be able to make a dream become a reality. For more lifestyle tips and life hacks take a look at hitznews.com.