My money situation what do you think

[SAXO8VYO]

Basicly ive been driving/learning on my provisional insured of course i use the car when go out with my mum or to work then mum drives it back but in like a month i will hopefully pass my test and my insurance is going to be alot higher im 18 with no ncb based on only just passing i will be paying £210.00 a month so heres my list of what i get paid and whats gotta come out of it and i just want a general veiw what people think as i dont want to be one of them people who has just passed and cant afford petrol half the time so...
i get paid £570.00 a month basic with no over time or extra for weekends
out of it will have to come
£210.00 insurance
£80.00 rent cheap as i live at home lol
£20.00 phone bill
so thats the basic which is £310.00
these are the estimated costs
£120.00 fuel . i just based it on putting in £30.00 a week
£80.00 on random bits drinks,takeaways,cinema ect
so thats £510.00 so leaves me with £60.00 do you lot think my estimates are ok and that i wont be spending more than i have set/planned :y: or :n:

[Paul]

£30 a week is alot fella, unless you do alot of miles.
I worked out the other week that if i didn't drive.. then i wouldnt of had to work for the last 5 years.

Often think about not driving, but its the freedom of being able to jump in the car whenever i want and just go where ever i want. Its hard to explain. I think if i didnt learn how to drive in the first place i would be ok with it. But once you've got a car, you cant live without it.

[lemon191]

its do able as you have already pointed out in your post but i would seriously think about getting more contracted hours at work if possible as there is more to running a car than just fuel costs and insurance especialy when a older car like saxos get to mot time so you will need to be putting money away for any problems.
but even after the hard work you get in your car and realise its all worth while!

[Quick]

If you are going out with mates who don't drive, get them to put in some petrol!

[matt_vtr_15a]

it is do able mate but your social life sounds as though it's going to be lame!!

personally I would cancel the £80 out for random bits from your outgoings!!

so you have £140 a month or £35 a week (ouch) left to your disposal...

ideally try and put £20 a month into savings...

it isn't much but it should reduce the blow you get from when you have to tax the car etc, because you don't have the income to cover such things...

[Chloeex]

Its very do-able i guess. Dont forget you need to factor in the running costs of a car ie mot tax etc and if things need fixing/ replacing not just fuel lol. i would put aside atleast £20-£30 a month.
£120 a month on fuel is alot!! Do you do many miles??

[timmythechef]

I would tell your rents to shove their 80 pounds a month rent tbh, especially if your earning peanuts mate

[saxwesty]

lets put it this way im on £380 a month and my insurance is £345 a month and i still run mine (just about)

[timmythechef]

lets put it this way im on £380 a month and my insurance is £345 a month and i still run mine (just about)

Good effort

[pjm300]

if i got paid 570 a month there would be no way i'd have a car

[pjm300]

Good effort

not really, what can you do with £35 a month?

[timmythechef]

not really, what can you do with £35 a month?

Put £30 of fuel in, and spend the other £5 on jelly beans

[saxwesty]

dont need to do anything i play football most the days/nights so dont really need extra

[pjm300]

what a life, spending 90% if your earnings on car insurance... jeez

[M1VT]

210 a month insurance?
What the fuck are you driving?

[wadoryu]

i did it on less.

[Luke-saxo]

well i put 20 quid in a week mate i drive a fair bit though i get paid 270 quid a month working 9 hours a week part time while i am at uni 100 quid goes to saving for insurance tax mot etc so i am left with 170 a month and i run mine alryt dont use student loan unless its for uni things

[Prickle]

i did it on less.

+1 and get a lot less...im jobless and i hate it *cries*

Its called "doing without" :homme:

[jw1325]

i had the GTi when i earned £444 a month... i had a staurday night job in a pub but that was only £120 + so i lived off £560 ish a month with the Gti... and paid my mum £160 digs.

so it IS doable. i was jus very lucky to have the support of mates etc when it came to fixing the car.

i know still only earn a grandish a month in my job now (i know teach so thats the odd £25 an hour per lesson so that helps)

and I pay £300 digs
£50 phone

i have the Gti and the Type r, and sometimes horses. BUDGET!

i still have a bery healthy social life - car shows, nights and meals out, weekends away...

you can do anything you want as long as you watch your cash.

best way i save for things is everytime i break a note, tenner, £20.. i stick any of the change in a pot. it all adds up and it means that if you need the odd couple of quid its there and you dont need to split a note. it helps! ive got £45 in my pot already for this month and i only got paid 2 weeks ago... all going towards my weekend away in Newcastle in May!

[Luke-saxo]

+1 and get a lot less...

Its called "doing without" :homme:

yes not buying stuff thats not needed and only buying stuff to get you buy and every so often going out not going out every weekend etc

[danzman1991]

Either:

Find a better ins quote
or
Apply for and pay for the insurance for the whole year (taking away the ridiculous interest rate you're being charged for paying monthly) on a 12 month Interest free credit card (yours or your parents)

[brianS]

glad im not young anymore. and get paid a lot.

[danzman1991]

glad im not young anymore. and get paid a lot.

excellent advice.

[bonesvtr]

its doable mate, i was on a lot more and my insurance was a lot less when i passed my test.....and still ended up skint halfway through the month!:oops:


wish i could get away with only putting in £30!! im putting in over £100 a week in just one of mine!

[Luke-saxo]

if i got paid 570 a month there would be no way i'd have a car

why not dunno on your age etc but doesnt have to be a fast car a little run around that you can afford to run id love to be on 570 a month

[nicole_]

Either:

Find a better ins quote
or
Apply for and pay for the insurance for the whole year (taking away the ridiculous interest rate you're being charged for paying monthly) on a 12 month Interest free credit card (yours or your parents)

what bad advice telling someone to take out a credit card. the guys being sensible and budgeting what hes got! lol

i think its better your over-budgeting petrol, when you first pass you go out everywhere in the car lol just cus you can :D

[Giraffe]

what bad advice telling someone to take out a credit card. the guys being sensible and budgeting what hes got! lol

i think its better your over-budgeting petrol, when you first pass you go out everywhere in the car lol just cus you can :D

What's wrong with a 12 month interest free credit card? It's actually pretty smart because that leaves him with 12 months to pay his insurance without getting charged any interest on it, thus saving him money he would have been charged by the insurance company.

[pjm300]

why not dunno on your age etc but doesnt have to be a fast car a little run around that you can afford to run id love to be on 570 a month

tbh if i was only on 570 a month then i'd have more pressing priorities than a car lol
that just about covers my rent for the month

[CampDavid]

TBH I'd probably bike or get taxis everywhere.

I'm with Brian. Being old/getting paid is a good thing.

[nicole_]

What's wrong with a 12 month interest free credit card? It's actually pretty smart because that leaves him with 12 months to pay his insurance without getting charged any interest on it, thus saving him money he would have been charged by the insurance company.

i just dont think its wise telling a 18 year old to take out a credit card. just a window of opportunity for problems in the future, if youve got the money on the card you'll probs end up spending it, if you cant make a payment for whatever reason, you get charged, people never realise when theyre interest free is up and that gets them in a heap load of trouble too. just dont think its worth it

[pjm300]

im with campo n brain too.

[CampDavid]

i just dont think its wise telling a 18 year old to take out a credit card. just a window of opportunity for problems in the future, if youve got the money on the card you'll probs end up spending it, if you cant make a payment for whatever reason, you get charged, people never realise when theyre interest free is up and that gets them in a heap load of trouble too. just dont think its worth it

I had one at 21 when I bought my first car and paid the insurance that way. Did me no harm

That said, you have fuck all chance of getting a big enough credit limit on £7k a year.

[brianS]

im with campo n brain too.


thats cause you old skool.:clapping::clapping::clapping::clapping:

[Hatcha]

Could probably get the fuel down to £100 mate.

I use £20 a week in my 1.1, but i go to college every day as well as work, so i do travel a lot.

And if you search around you may get lower insurance, that estimate you did works out at just over £2500. You could probably get it to nearer 2 grand if yo ukeep looking, seems as you're 18 possibly.

Plus you'll find you spend a lot more on fast food lol, seems as you can get to mcdonalds easier :y: well i do anyway haha

[Giraffe]

i just dont think its wise telling a 18 year old to take out a credit card. just a window of opportunity for problems in the future, if youve got the money on the card you'll probs end up spending it, if you cant make a payment for whatever reason, you get charged, people never realise when theyre interest free is up and that gets them in a heap load of trouble too. just dont think its worth it

Fair point, I actually got an interest free credit card which ended up putting me in debt so I guess you're right

[SAXO8VYO]

had some good advice here and thanks for the comments about the credit card but no would never go that way as i will never get a credit card untill i have completed my teaching assistant course and am in a job where i know i can afford a credit card , the best advice was given by the girls thank you , and a few people said cut down on a few things which i probs will as i was over budgeting as i dont know what the costs will be and about how many miles i do , now i do fuck all miles as i only go to work in it which it 10 min drive there and 10 mins back and shopping which is only a drive of 25 mins there and back but when i pass i have over budgeted for fuel as i know i will be driving everywhere because i can and im all for if i go out with mates get thm to stick a £10 er in the tank or whatever but most the people i know have cars and thats who i will be going out with . I work 24hours a weeks contracted but will get more in the next few months anyway . but overall thanks guys i know that with my income i can afford it as you lot are driving and have been a while and i now know when im older and in a better job a full time job it will be alot easier.

[Aly]

Seems very tight.
I never pay my insurance monthly always pay it all off at once.

My only monthly outgoing is phone contract which is £47 a month (rip off I know)
I earn anywhere between £550-£650 a month.

Petrol gets paid for by work, I'm putting about £500 away every month to go towards my VTS.

Got Tax to pay this month £125 for full year.
Car insurance was £480 fully comp last December for the year.

I don't pay board and rent because me and my dad have a company, Im supposed to take a salary but don't so he takes it from that

[daveg1]

I had a nice car when i was on £600 a month but wasnt doing any miles and petty was 70p a litre. Plus no rent or other commitments. Scary how things change as £570 wouldnt even cover the mortgage

[b0t13]

£20 a month to save? my advice would be cut costs wherever you can and make sure people help with fuel costs, you want to be saving/spare £50 a month at least as if something big breaks or you need MOT etc then you wont have enough saved and will be relying on mum&dad, i ran a car easily on that wage at college, just make sure you save each month to keep your head above water

[Rudpud]

I dont see how its a big problem. I earn £320 a month without overtime and can afford a car. Im 18 so insurance isnt great either.

Just dont spend where you dont need to.

Plus having a car gives huge amounts of freedom and will help you in the future.

[Sparky26]

Don't waste your money and you will be fine on that!! i could do it but i have the benefit of a works van so don't use the car plus i don't have a saxo that goes wrong every 5 mins

[Silky]

I feel sorry for you younger people on here, insurance is a killer these days.

I remember being 18 and my insurance was £820 a year, fully comp on a 3yr old 306 DTurbo. Luckily being old now means the insurance is alot cheaper.

I couldn't think of having to spend 20/30/40%+ of wages a month on insurance, mine is about 1%.

Any chance of getting another job, another car or maybe a second job ?