If I'm earning 49k, can I afford to pay £200 per week in rent + bills, and still afford to go out (within reason)?
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I despaire for consultancy that this question has actually been asked.
Do you write business cases as part of your work?
Do you know the national average salary?
Twat
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You'll have a monthly take-home income of £2,910.
£800/month is cheap.
£800/month including bills is VERY cheap.
I'm curious. Is this a wind-up?
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sssds let me know where you intend on going out (within reason) so I can avoid you.
Cretin.
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Promise this question is not a wind-up at all!
When I hear people like sssds worrying about 200 p/wk on a 49k salary, it really makes me despair.
I will be earning 32k as an entry level analyst and am renting a place for 850 p.c.m (No BILLS included) in S.E London.
Have I been unduly extravagant?
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Well, that's a question only you can answer. Most people at this age, salary and stage of career would share a house or flat and just rent a room (£400-600pcm) but it really depends on (a) your preferences as to how you want to live, and (b) whether the amount of money you have left is sufficient for your purposes.
If it's any reassurance a flat at £850 in SE London is not extravagant by London standards.
See how you get on - you can always change.
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What makes ME despair is the lack of life skills grads have these days...
DC, you probably cannot really afford 850 pcm at the moment - and why would you want to anyway?? Get yourself into a nice house share, meet some people, party a bit, spend your cash on frivilous stuff and have some fun. You will have plenty of time later in life to spend all your hard earned on rents, insurance, pensions etc etc etc.
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Spend as little as you're prepared to put up with on rent. I pay 500 inc. bills and many of my friends pay 600+; that means I'm saving at least 2500 quid a year more than i would had i been that little more extravegant! that's a fair bit of money.
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Mars, you're probably right about the lack of life skills in them Graduates these days. I am thankfully not one of them!
The reason I went for a sort of expensive place is because Consulting being what it is rumored to be-Loads of time being on the road etc. Wouldn't one want to come back to a nice, decent, well equipped place? (Hopefully not on top of shops or next to an 18 year old into Eminem!)
I am 27 and making a career switch, so think I'll pass on the partying for now. 27, you'd agree is a time, one should really start thinking about those darned pensions, insurance etc.?
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As a fellow 27 year old, I definitely hope it's not time to pack in partying. How boring are you?!
You will be one of those 35 year olds having an early mid life crisis when you realise how boring you've been. I bet you tuck your polo shirt into your tweed trousers don't you.
I'm off to the pub.
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No tweed trousers here. I'm a woman.
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Got to be a nice below the knee skirt and comfy flat shoes then!
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What's so wrong with Comfy flat shoes?
Scurry along to your pub now.
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Ah I should have expanded a bit more. I have done all my calculations and it indicates I should have no probs. But then by the same calculations I should be easily saving £1000 a month right now despite going out loads - and in reality I don't see that saving.
Plus - I have friends on the same salary, renting for £200 p/w who cannot afford to go out that often.
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What would you advise a client to do in these circumstances:
* negative budget variance realised
* financial and business plan inconsistent with market when benchmarked against key competitors
* leadership unable to agree on causes of the negative variance or the goals to compromise to return the business to the black
* reliable management reporting data is unavailable
If you're on £49k then you should have no problem with this little case study, regardless of your consulting specialism.
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- Detailed gap analysis against compeetitors <br>
-Business plan and roadmap development required<br>
-Reporting solution required
<br>
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Yeah I've done on the calculations on paper and my conclusion was that whilst in theory I should have no problems (as the enthusiastic responses of the earlier posters showeed) in reality I may do because like any young person my spending has high variance from month to month (socialising, clothes, holidays, etc.)
Hence it would be nice to hear how others who opted to pay high rent for their own place are findoing it. Is it worth it, etc.
In any case I've decided it isn't, but would still be interested to hear other people's experiences.
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Yes, perfectly affordable. £800/month is very cheap if you want to live in an area where you won't be mugged, stabbed or beaten senseless on your way home after typical consulting work hours.
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live with your parents! The best solution of all. after all, you're out from Monday - Friday and you'll save a fortune. That you can use to buy a flat in 3 years time when prices have droppped 50%
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The risk of getting 'mugged, stabbed or beaten senseless on your way home after typical consulting work hours' would at least break up the monotony and give you an adrenaline rush. Buy yourself a stupid looking hat and a bullwhip and you could be Indy every time you get home!
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