You are here: Forum > Living in Europe > Scotland > Cost of living > Minimum cash needed for 6 months
  Register and reply  

Minimum cash needed for 6 months


#1  2012-05-05 01:27:13

claymore73
New member
claymore73
From: Brisbane
Registered: 2011-03-10
Posts: 5

Minimum cash needed for 6 months

G'day all

I know the cost of living is never a fixed amount as there are so many variables to consider, so I thought a better way to ask would be this.

What is the minimum amount of cash/money in the bank people would recommend is needed for a married couple to live comfortably for at least 6 months whilst organising jobs, rental accommodation, car/s etc.
Given that no particular area is in mind to settle down in, that would depend on job availability.

All advice gratefully accepted.

Have a good one

Shaun




 
 
 
 

  • Offline

#2  2012-05-05 03:26:08

mid_alex
Active member
mid_alex
From: Glasgow
Registered: 2011-05-28
Posts: 36

Re: Minimum cash needed for 6 months

Based on an average rent of £500/month (ranging from £300-700) £2500 + average council tax/month of £120 (£100-£200) + deosit = £3720. Then you have to take into account bills, gas and electric in the summer £40/month (£80 in winter) + phone, say two mobiles on ay and go £40/month + transport, two monthly bus passes @ £35 each (so £70/month) = £150 x 6 months = £900 + rent etc. = £4620 + £200/month groceries = £5820. That's my best guess unless someone can point out some flaws or bills missed? Seems about right to me.

By the way. I lived in Brisbane. Loved it. It's a much better city than Glasgow in many ways. Get used to the rain and cold....

Last edited by mid_alex (2012-05-05 03:28:41)




 
 
 
 
 
 
 
 

  • Offline

#3  2012-05-05 05:15:47

claymore73
New member
claymore73
From: Brisbane
Registered: 2011-03-10
Posts: 5

Re: Minimum cash needed for 6 months

Alex, thanks for the info. Let me understand this the way you meant it though. You're saying that for 6 months for a couple to live and cover basic expenses it would cost an "average" of  £5820??

If that is the case then I can understand better now why the average yearly wage is under £30000.

Thanks again Have a good one

Shaun


mid_alex wrote:

Based on an average rent of £500/month (ranging from £300-700) £2500 + average council tax/month of £120 (£100-£200) + deosit = £3720. Then you have to take into account bills, gas and electric in the summer £40/month (£80 in winter) + phone, say two mobiles on ay and go £40/month + transport, two monthly bus passes @ £35 each (so £70/month) = £150 x 6 months = £900 + rent etc. = £4620 + £200/month groceries = £5820. That's my best guess unless someone can point out some flaws or bills missed? Seems about right to me.

By the way. I lived in Brisbane. Loved it. It's a much better city than Glasgow in many ways. Get used to the rain and cold....




 
 
 
 

  • Offline

#4  2012-05-05 13:03:02

mid_alex
Active member
mid_alex
From: Glasgow
Registered: 2011-05-28
Posts: 36

Re: Minimum cash needed for 6 months

I did my maths based on a pretty bare bones lifestyle. I didn't include any money for a social life or personal shopping.

With that said, here are the minimum wages in the UK just now:
•£6.08 - the main rate for workers aged 21 and over
•£4.98 - the 18-20 rate
•£3.68 - the 16-17 rate for workers above school leaving age but under 18
•£2.60 - the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship

So again an over 21 working full time (30-35 hours here) makes £5107.20 before tax and national insurance deductions in a 6 month period.

Keep in mind moving over here the exchange rate as well. £5820 is $9232 AUD and what I've included here is the MINIMUM amount needed to survive. It's also no including money for a hotel or backpackers for the first few weeks while you find a flat.
Cheers,
Alex

Last edited by mid_alex (2012-05-05 13:03:44)




 
 
 
 
 
 
 
 

  • Offline

#5  2012-05-05 13:08:23

claymore73
New member
claymore73
From: Brisbane
Registered: 2011-03-10
Posts: 5

Re: Minimum cash needed for 6 months

That's great info Alex, thanks!

Have a good one

Shaun

mid_alex wrote:

I did my maths based on a pretty bare bones lifestyle. I didn't include any money for a social life or personal shopping.

With that said, here are the minimum wages in the UK just now:
•£6.08 - the main rate for workers aged 21 and over
•£4.98 - the 18-20 rate
•£3.68 - the 16-17 rate for workers above school leaving age but under 18
•£2.60 - the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship

So again an over 21 working full time (30-35 hours here) makes £5107.20 before tax and national insurance deductions in a 6 month period.

Keep in mind moving over here the exchange rate as well. £5820 is $9232 AUD and what I've included here is the MINIMUM amount needed to survive. It's also no including money for a hotel or backpackers for the first few weeks while you find a flat.
Cheers,
Alex




 
 
 
 

  • Offline
Like this topic? Share it with your friends!


Expatriate health insurance Scotland

Free advice and quotation service to choose an expat health insurance in Scotland.
>> Click here

Moving to Scotland

A few tips from professionals about moving to Scotland.
>> Click here

Expat banking Scotland

Discover the benefits of expat banking for people living and working abroad.
>> Click here

Businesses and services in Scotland

Find the professionals in Scotland in the Expat blog directory.
>> Click here

Luggage shipping Scotland

Useful information about luggage shipping to Scotland.
>> Click here

Travel insurance Scotland

Don't worry and travel happy across Scotland.
>> Click here

To
Subject *
Message *
   You are here: Forum > Living in Europe > Scotland > Cost of living > Minimum cash needed for 6 months