Can I afford to live on my own?

I earn £1037 a month. I'm looking at a £400 a month house. This leaves £637 for the rest of my bills. I will be living completely on my own, can someone give me a rundown of the basic costs of living?

So for example I imagine it'd b £200 for food, £100 for gas+electric so that's £337 left. £33 for my phone, £50 for toileteries, £50 for my travel so that leaves £207. Then £20 for my internet, an extra £10 for other (Netflix and Minecraft Server) leaving £187 to spend on whatever I want.

Is this correct?

The Man 02.07.2015

That might be a bit tight because things do pop up. But it can work if the landlord's fine with this. The general guideline is rent should be 33-35% of gross (pre-tax) income. You're a bit over that, which means it will be tight if any unforeseen issues develop.

Stoo 02.07.2015

First of all, try to determine if you can even FIND housing for what you have budgeted. You can get the rates form a rental agent or newspaper advertisements for housing.

If you can't find 6 or 7 examples of that sort of housing, then you have to rethink your budget.

glenbarrington 02.07.2015

You will not get a house for that in the UK but a 1 bed flat. You have missed out Council tax, you will have to look up what it costs in your area.
£50 a week for food is not much as you have to factor in toilet rolls, cleaners, washing up liquid and so on.
Look and see what is in your parents cupboards.
And look and see what you can afford for £400.
UK

Tavy 02.07.2015

Include council tax (remember to ask for the 25% single occupier discount), TV licence, insurance, water

DR Mrs Bears face 02.07.2015

Is 1037 your pay after taxes? If I were you, I would try to find a compatible roommate to share a place with.

Oldwhiteguy2earth 02.07.2015

Your income should not exceed 30% of your monthly income. Based on your income, you can afford 311 pounds. You either need to make more money, or find a room mate

Ashley M 02.07.2015