{"id":6643,"date":"2020-01-03T13:57:30","date_gmt":"2020-01-03T13:57:30","guid":{"rendered":"https:\/\/dev.withcreative.co.uk\/lforl\/?p=6643"},"modified":"2020-01-03T13:57:30","modified_gmt":"2020-01-03T13:57:30","slug":"lets-talk-about-budgeting","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/lets-talk-about-budgeting\/","title":{"rendered":"Let\u2019s talk about budgeting"},"content":{"rendered":"

\"\"<\/a>
\nAre you still reading? Good. Budgeting isn\u2019t the most inspiring topic but get it wrong and you\u2019re in a whole world of trouble.<\/p>\n

Let\u2019s imagine you\u2019re about to take on your first tenancy. You\u2019ve viewed a property. You like it. It ticks every box, but the rent could be a bit of a stretch. This is the time to sit down and have a realistic look at your finances and the cost of renting. You might be in love with the property right now, but if it becomes a burden, that love affair isn\u2019t going to last.<\/p>\n

Adding up the costs of renting<\/h3>\n

Any home move, whether it\u2019s your first or not, comes with some upfront costs. If you\u2019re looking to rent, you\u2019ll have to find funds to cover the security deposit (normally up to 5 week\u2019s rent) and your first month\u2019s rent, which is almost always paid in advance. An agent may also charge a holding deposit, but often that can be transferred into your security deposit.<\/p>\n

The next costs you\u2019ll have to factor in are the actual costs of moving and setting up your new home. Whether you hire a van to move your stuff or chose to pay professionals to do the job, budget for it. If you\u2019ve got friends lending a hand, you\u2019ll probably want to keep them fuelled. Sending out for a takeaway makes sense, but don\u2019t forget, it\u2019ll be going on your credit card.<\/p>\n

If the property is furnished, be sure to check what\u2019s included. Is there a fridge, a freezer and a washing machine? If not, you\u2019ll be having to find the funds to purchase your own pretty quickly. If you haven\u2019t got the small electricals \u2013 such as a kettle or microwave \u2013 you\u2019ll miss them, so add them to the shopping list. What about bed linen, towels, pots and pans, cutlery? People can be very generous when you\u2019re starting out, but you\u2019ll be very lucky if you don\u2019t have to dip into your own pocket for some of the basics.<\/p>\n

Once you\u2019ve drafted up an estimate of the upfront costs, you\u2019ll want to check the ongoing monthly costs and compare them to your income or benefits. Typically, you\u2019ll be paying monthly for:<\/p>\n