New to all this...

msg11

Just coming on 21 and my time to leave the coop, in Dublin at the moment. I'm currently looking at getting my hours up in work too 35. Only on 20 hours at the moment, been working 4 years.

Income per week (35 Hours) will be at 446€ after tax say about 420€ . So total income P/M .. 1680€ , have automatic car insurance at 220€ . So I am down to 1460€.. Now I would like to have a social life not all my money on bills, what should I be looking at ? I do want a decent place , not a shack have been looking around at 700€ 1 bed apartments an such.

Now how will it work ? What up front payments will need to be made. I wouldn't have One months rent up front and a deposit. But I really want out of this house, things ain't working out with my father at all.

Is the deposit 700 too ? So I would be looking at a 1400€ charge ? Also, I wouldn't like to go into a 12 Month contract, just in case it did not work out maybe a 6 Month. On the subject of the contract is it ok for me to just look over or should I get someone in know too look it over ?

Just any advise for me after reading over this, is 700€ to high for my income .. Should I lower it down ?

athtrasna

Your tax figure looks very low, are you sure you'll have that level of income. At a time when workers are all getting the shock of the hit from the last budget, deductions of €26 per week from your gross pay seems way too little.

I wouldn't recommend living alone for someone's first experience of life away from home, actually I wouldn't recommend anyone lives alone, been there, done that, moved on. Have you considered a house share? Or teaming up with a friend and getting a place together. It would bring some of your costs down as well as having a more social feel to your place. Going home to an empty house/apartment night after night is not as much fun as you might think.

And yes one month's rent up front and one month as a deposit are standard. Time to get saving.

msg11

athtrasna wrote: »

Your tax figure looks very low, are you sure you'll have that level of income. At a time when workers are all getting the shock of the hit from the last budget, deductions of €26 per week from your gross pay seems way too little.

Yeah it is usual around 25/30€ , as I am paid per week.

I wouldn't recommend living alone for someone's first experience of life away from home, actually I wouldn't recommend anyone lives alone, been there, done that, moved on. Have you considered a house share? Or teaming up with a friend and getting a place together. It would bring some of your costs down as well as having a more social feel to your place. Going home to an empty house/apartment night after night is not as much fun as you might think.

Have considered a house share with a friend so it's no out the window completely. Just I rather my space and I don't mind the coming home to myself thing, as I am used to it being myself most of the time.

And yes one month's rent up front and one month as a deposit are standard. Time to get saving.

Thanks mate, so is it was 700€ , it would be 1400€ I would need to pay .. No too bad and I get 700€ at the end of the contract ..

Giblet

I would really consider sharing, as your earnings will all go on rent not to mention all the incidentals and bills you have to cover with 1 person. I wouldn't shell out more than 500 in your situation, and that's stretching it already.

Your tax will increase also, as I would imagine you are just above the cut-off, and double your hours will hit the additional balance hard.
I'd say you would pull in just under €395

msg11

Giblet wrote: »

I would really consider sharing, as your earnings will all go on rent not to mention all the incidentals and bills you have to cover with 1 person. I wouldn't shell out more than 500 in your situation, and that's stretching it already.

Your tax will increase also, as I would imagine you are just above the cut-off, and double your hours will hit the additional balance hard.
I'd say you would pull in just under €395

So you think I should max out at 500€ and not 700€ .. Yeah this new tax stuff is really iffy , I really am not sure. I am basing them figures on just doubling the hours tax wise. I think the cut off the 700€ a week not sure I will have a look later.

Sounds like sharing is the safe bet..

D3PO

First things first. What you "will be on" has no bearing here.

You budget off your 20 hours and thats it. Anything else is financially irresponsible. 3 years in the crap and people still havent learnt any cop on regarding money management

Cookie_Monster

446 a week is about 1932 a month

PAYE 84.70
PRSI 77.28
Levy (USC) 78.46

Net: 1691*12 / 52 = 390 per week

assuming rent credit, PAYE credit and single person credit

Less:
Car insurance & tax
fuel
electricity & gas
TV & internet
tv licence fee
living and food expenses

Take around 500pm rent, leave about 1060 per month (4 weeks)
easily live on 800 after insurance in a shared place with split bills

but that said you are not earning the above and until you do there is no point in basing your outgoings on it, but on what you have.

eclectichoney

Cookie_Monster wrote: »

446 a week is about 1932 a month

PAYE 84.70
PRSI 77.28
Levy (USC) 78.46

Net: 1691*12 / 52 = 390 per week

assuming rent credit, PAYE credit and single person credit

Just a heads up - I believe that 'new renters' i.e. people entering a contract after 7th Dec 2010 as in the case of the OP, are not entitled to claim the rent credit at all (it is being phased out for existing renters). so that's potentially another €320 a year gone for the OP!

msg11

Cookie_Monster wrote: »

446 a week is about 1932 a month

PAYE 84.70
PRSI 77.28
Levy (USC) 78.46

Net: 1691*12 / 52 = 390 per week

assuming rent credit, PAYE credit and single person credit

Less:
Car insurance & tax
fuel
electricity & gas
TV & internet
tv licence fee
living and food expenses

Take around 500pm rent, leave about 1060 per month (4 weeks)
easily live on 800 after insurance in a shared place with split bills

but that said you are not earning the above and until you do there is no point in basing your outgoings on it, but on what you have.

Folks, I will get the 35 hour week and see what I am earning after it per week. What the hell is 3 years of crap about ? Trust me , I wouldn't be leaving this place for nothing pal . It's best I leave this house before I end up in prison for murder. And 20 hours per week ? I'm upping it too 35 . So calm down and read what I am saying to you. I have giving all my income and put it on a public forum like to see anyone else do that.

And in fairness, thanks for the help some people understand, it's not your own choice to move out . It's forced , and others who might never ever move out get jealous of this and start ranting on the internet. About how I am costing them money .. Hahaha. Don't talk to me about money management. Half of boards.ie could manage a bank at this stage. I'll give out more personal information, I never had one loan in my life, how many did you have ? I won't even get a proper answer from that. So phek off ..

msg11

eclectichoney wrote: »

Just a heads up - I believe that 'new renters' i.e. people entering a contract after 7th Dec 2010 as in the case of the OP, are not entitled to claim the rent credit at all (it is being phased out for existing renters). so that's potentially another €320 a year gone for the OP!

I am not eligible because I am in full time employment .. I am going to get a beating I know it. But cheers for the heads up..

Giblet

Rent Relief is a Tax Credit, not an allowance, you would be eligible if it was still around. I'd check out PAYE anytime to make sure.

Cookie_Monster

msg11 wrote: »

Folks, I will get the 35 hour week and see what I am earning after it per week. What the hell is 3 years of crap about ? Trust me , I wouldn't be leaving this place for nothing pal . It's best I leave this house before I end up in prison for murder. And 20 hours per week ? I'm upping it too 35 . So calm down and read what I am saying to you. I have giving all my income and put it on a public forum like to see anyone else do that.

And in fairness, thanks for the help some people understand, it's not your own choice to move out . It's forced , and others who might never ever move out get jealous of this and start ranting on the internet. About how I am costing them money .. Hahaha. Don't talk to me about money management. Half of boards.ie could manage a bank at this stage. I'll give out more personal information, I never had one loan in my life, how many did you have ? I won't even get a proper answer from that. So phek off ..

I'm going to assume that shouldn't have been my quote you were ranting about there, but rather D3PO's. I actually tried to show what you'd be on and what you could expect to have left and showed it could easily be done.
As for a place by yourself, I think you'd struggle with 700+ or rent and all bills yourself rather than around the 500 mark if sharing plus split bills

Cookie_Monster

Giblet wrote: »

Rent Relief is a Tax Credit, not an allowance,

correct
reduced from 2,000 gross/400 net per year to 1,600 gross /320 net but is still around for all, regardless of employment status.

msg11

Cookie_Monster wrote: »

I'm going to assume that shouldn't have been my quote you were ranting about there, but rather D3PO's. I actually tried to show what you'd be on and what you could expect to have left and showed it could easily be done.
As for a place by yourself, I think you'd struggle with 700+ or rent and all bills yourself rather than around the 500 mark if sharing plus split bills

No your right, and yes I was on rant about that other guys post. I don't even think he know what I am doing. '3 years in the ****' , nothing to do with me pal.

Yeah , I am trying to get a mate of mine on board with this so I can further reduce it down.

D3PO

msg11 wrote: »

Folks, I will get the 35 hour week and see what .. Hahaha. Don't talk to me about money management. ..

The same mentality that others had, I will get that bonus or that payrise, I will never lose my job its secure yada yada yada.

Fact is budgeting for something you dont have regardless of how strong your belief of getting increased hours is rediculous.

Coming on here asking for advise on an income figure you dont earn is silly. For me to comment saying yes you can probably look at something in X price range would be in my view wholly irresponsible.

Either provide detial on your current income or wait until that changes. Hypothetical scenarios dont help and quite frankly are pointless to discuss in the context of rentla affordability for you.

If you dont like my response thats fine, but if you come on asking for advise thats what I will give. Im not going to rubber stamp your thought process just becasue thats what you want, I'm going to spell out the reality of the situation as I see it.

Ignore me comments if you like, its no skin off my nose, but dont act like a hormonal teenager just becasue I wont massage your ego.

msg11

D3PO wrote: »

The same mentality that others had, I will get that bonus or that payrise, I will never lose my job its secure yada yada yada.

Fact is budgeting for something you dont have regardless of how strong your belief of getting increased hours is rediculous.

Coming on here asking for advise on an income figure you dont earn is silly. For me to comment saying yes you can probably look at something in X price range would be in my view wholly irresponsible.

Either provide detial on your current income or wait until that changes. Hypothetical scenarios dont help and quite frankly are pointless to discuss in the context of rentla affordability for you.

If you dont like my response thats fine, but if you come on asking for advise thats what I will give. Im not going to rubber stamp your thought process just becasue thats what you want, I'm going to spell out the reality of the situation as I see it.

Ignore me comments if you like, its no skin off my nose, but dont act like a hormonal teenager just becasue I wont massage your ego.

I am going up too 35 hours, there's no doubt about it. I wouldn't come on here and make up something to impress people. I asked for advise, not to be blamed on something that had nothing to do with me. So get off your high horse and don't look down on me pal.

D3PO

msg11 wrote: »

I am going up too 35 hours, there's no doubt about it. I wouldn't come on here and make up something to impress people. I asked for advise, not to be blamed on something that had nothing to do with me. So get off your high horse and don't look down on me pal.

until it happens there is a doubt you dont seem to get that concept.

Budget off your current hours. When you get an increase of hours then worry about budgeting for your 35 hours then. Simple really

Im not on a high horse. I couldnt care less what you do, but dont come back on here in a few months asking can you break your lease because you cant afford the rent and expect sympathy.

odds_on

D3PO wrote: »

until it happens there is a doubt you dont seem to get that concept.

Budget off your current hours. When you get an increase of hours then worry about budgeting for your 35 hours then. Simple really

Im not on a high horse. I couldnt care less what you do, but dont come back on here in a few months asking can you break your lease because you cant afford the rent and expect sympathy.

IMHO, Good replies by D3PO.

Again, IMHO, seems to me that OP has a slight temperament problem which may also be the cause of his having to leave home.

As regards letting the world know your financial situation etc, you could be anyone of more than over a million people and I am still no wiser as to who you are - thankfully.

msg11

D3PO wrote: »

until it happens there is a doubt you dont seem to get that concept.

Budget off your current hours. When you get an increase of hours then worry about budgeting for your 35 hours then. Simple really

Im not on a high horse. I couldnt care less what you do, but dont come back on here in a few months asking can you break your lease because you cant afford the rent and expect sympathy.

I am not saying your wrong it's just the first reply you made got me heated up . In fact it was the type of advise I am looking for, just blaming me for a recession when I steered clear of loans and stupid spending pissed me off.

Anyway, your advise on board. Waiting till I have the payslip that has pay with 35 hours on it. A friend wants to come with me , so we are looking at getting a house for around 800€ between 3 people. Try get another one in with us.

In fairness, that's the situation I am trying to avoid is that.

D3PO

msg11 wrote: »

I am not saying your wrong it's just the first reply you made got me heated up . In fact it was the type of advise I am looking for, just blaming me for a recession when I steered clear of loans and stupid spending pissed me off.

Anyway, your advise on board. Waiting till I have the payslip that has pay with 35 hours on it. A friend wants to come with me , so we are looking at getting a house for around 800€ between 3 people. Try get another one in with us.

In fairness, that's the situation I am trying to avoid is that.

well see what you have and then work out your budget. realistically you dont want to spend more than 30% of your disposable income on accomadation.

As for my first post you need to reread it. I never blamed you for the recession.

Giblet

msg11 wrote: »

Anyway, your advise on board. Waiting till I have the payslip that has pay with 35 hours on it. A friend wants to come with me , so we are looking at getting a house for around 800€ between 3 people. Try get another one in with us.

This is the best idea in this thread. Sharing with 3 people, paying around 250-300 each and sharing bills is ideal, especially as a first movement. You can then decide what to do after that. It's never fun being tied to a year lease taking half of your money when you don't know your arse from your elbow regarding living away from home.

msg11

Giblet wrote: »

This is the best idea in this thread. Sharing with 3 people, paying around 250-300 each and sharing bills is ideal, especially as a first movement. You can then decide what to do after that. It's never fun being tied to a year lease taking half of your money when you don't know your arse from your elbow regarding living away from home.

It sounded great till I was reading the thread in here on the oil and the splitting of bills. Is it harder to move in with people you know ? I was offered a place in my friends house from work. Rent is 60€ P/W , then splitting the bills 3 ways ? So in that house I would know 1 person other 2 wouldn't know, non-nationals too.

Even on my current hours 20 P/W I could afford that ..

Giblet

The most important thing is to establish ground rules and make sure everyone is responsible for keeping things in check. Make sure your heating is on at agreed times etc and if anyone takes the piss, call them out on it. It's all common sense really though in the end. Good luck !