How much could (do) you live on?

I think we came up with about £100 a week as a ball-park figure. The only way to do it is to add it all up.

 

I wouldn't do ANYTHING solely based on the TLB membership, can you imagine it?
However, I KNOW there are people who've jacked in high profile/pay to live more simply, just want their views.

 

You don't drink in Burford, that's about three pints of shandy and a packet of crisps.

 

What are your plans Glyn? I've obviously missed the relevant post.
How much do you need to live on cannot be answered without first answering the question, "How do you want to live?".
We're sort of random consumers, we don't hanker for the latest tech or the biggest or curviest telly but we do, without any planning, just buy a £600 pram and £175 for the best car seat for our new grandson.
We just spent over £800 on Jan's car for things like tyres and suspension work. Having a bit of money behind you means you won't have to worry when you need a bit more.
On our average month (and I'm guessing quite a bit here) I reckon we go through about £800 to £900 without any of the random or surprise purchases.
Having a RAF pension which covers that makes for a very chilled situation where, after a heart attack for example, I just decided I didn't fancy working any more.

 

Not sure what you mean in the first line but i have done what you say and lived for quite a few years without .

 

what i would say glynn is if you know you overspend on luxuries like drink etc then you're lucky - you have scope to reduce, i'm pretty much at the limit of cutting back really, all i have after paying bills and food/fuel allows me about £100 a month to "waste" - waste means spend on frivolous stuff like my van or takeaways, if i want to save more from my bills i would have to cancel internet or life insurances - there are no "luxurious" bills i can drop now, when i moved my fuel bill increased as did my mortgage so i ditched all i could to stay happy enough - this was another reason why i sold my bay and golf and got the t5.

 

occasionally i get a few quid cash for jobs/scrap at work which i "waste" on my van which is nice.

 

Just be careful I've valued a few businesses in my time where the person bought and found it required loads of cash investment and so many hours of their time a week. Be conservative in forecasts etc

 

I too have had health scares , watched my dad die for six years, helped where i could . I cancelled my dream to help my mum and dad , i had already cashed in my chips , you learn to get by and live how you want without waisting money if you want too , it doesnt change you if you are a giver , i still enjoy that but ive tamed it . I worked hard when i was younger and gave my kids what i could . No one can tell you how much you will need ,its down to you and what you need or want . So if i gave you a figure it might not mean much or help you .

 

^^^^ All good advice from the sagely wise TLB Crew.
Exactly what I'm looking for TBH, confirmation of my thoughts and also my fears, rough guesstimates of how things are and could be.
Keep it coming boys and girls, you are (once again) a good source of information and seriously more reliable than most websites which are only set up to relieve you of cash for bloody obvious info.

 

I would ask God what he thinks. And go along with that.

 

It might be worthwhile provisionally thinking about where - for example the heating bills in the north of Scotland would be a lot more than on the South Coast or near LEF in France.

There's usually an article in the broadsheets every 6 months or so as to the cheapest places to live - you might not want to live there but at least it's useful info.

I'd also look at your 'plans'that are 15 years away - can you cash them in for a reasonable amount and it it worth stopping payments into them as these sort of things usually incur hefty commission charges?

 

Their are inflation calculators on web that you might want to run your eye over if its longer term . Pension funds can go down too ,as we all know the financial world can spring surprises .

 

If you are a home owner in a sought after area and can rent easily then you could always rent yours out and rent a house in a cheaper area, using the difference to live on. the in laws have a bungalow in surrey and do exactly that ... now renting in Norfolk ... mind Norfolk is not for everyone

 

Unless it has a proper structure and effectively runs itself, the current owner is going to be struggling to find anyone to buy it. Subtract a manager's salary from the profit an what is left is the basis for discussions. Good luck, you can't beat self employment (as you no doubt know from past experience).

 

Perhaps the question should be - How and where could I live life with a minimum of effort for £xK/year?
For instance and no offence intended, I know you guys like a small glass of wine now and again. i'm guessing that's why you'd like to move to France and join those mad-heads there. That's going to save you a frookin fortune and could make the whole thing work.
I have no idea myself, I'm just on a drive to steadily reduce background costs thus leaving more for luxuries. In the extreme, if you had zero living costs, all your income wouold be for food and luxuries. So either you would be a pig in Marmite or you wouldn't need to work much.

 

is it good for family cycling?