Anyone live on £900 a month?

Have you added up all of your bills and seen what is left yet? Make sure that you've got the very best deals for gas & electricity etc.
Are you eligible for PIP?

Sorry, is the £900 limit just until you get your pension?

Sorry yes it is Fanny - the £900
limit is only until I get my pension. Ididn’t explain that very well!

Not eligible for PIP I don’t think and yes have done my sums.

Hello again, thank you!
What have you got left after bills and food, do you have an emergency stash.
I think that it's doable especially if it's just for a couple of years, especially if you really want to give up work.
It's all about maintaining a good quality of life isn't it

As FC has already stated, calculate all your outgoing expenses for utilities, council tax, food etc and don't forget that appliances do wear out and might need replacing. Do you run a car? What about holidays/Day Trips? Digging into savings is ok now and then but for overall living costs can't be wise surely?

You say that your retiring due to ill health, would you be eligible for some kind of benefits?

Whatever you choose to do, I wish you well, good luck.

Only you can say if £900 a month would cover all your particular outgoings and leave you with enough to live without worry, MaggieTulliver. But you’ve done your sums and are still considering it, so must think you can. I don’t live alone, but will say that retiring early was the best decision I ever made. And as long as you cover your outgoings, with enough put by for repairs and emergencies, you’d probably find like I did that you need a lot less to live on when you stop work.

I live on a similar amount and it's doable, just, for me. I have some money set aside for an emergency or unexpected bill. I don't have a lavish lifestyle though.

£900 per month is more than single pensioners get on pension credit and there are a lot of people who manage on that.
For two years you could manage without holidays and any non emergency house upgrades. I would have retired earlier if I could have managed without the state pension.

Yes I have my state pension and a small occupational pension my income is well under £750 per month, my outgoings are absolute essentials only, and every penny counts, if I cant afford it I dont have it

Thank you all. I’ve added everything up and £900 is the figure I’ve arrived at. I don’t take holidays and spend very little. If I supplemented my private pension with savings, I’d have 8k savings left when I get my state pension and can start saving again. I know it’s tight but my mental health (the reason I’d retire early), is absolutely awful.

To the last 3 posters - that’s very encouraging and thanks for sharing.

My situation is exactly the same as yours. I have been retired for 20 months now living on my private pension only of £900 per month. I was worried I might have to use more of my savings but am finding it very easy to live on.
With 21 months to go till state pension I am now going to spend some savings on household projects instead of waiting.
If you can manage your money it is very doable. Good luck.

?? sf101. You sound very content.

Totally depends on the outgoings that are not considered essentials by the individual.

For us it's very doable to live on our state pensions and have a little left over for items not considered essentials. I also have a pension, all of which I save up for major things, eg this year, I suspect it will be a car or big repairs on current one. It's having its MOT today.

Go for it.

If it's for the sake of your mental health I'd do it in a flash Maggie

I agree with Fanny. If you can scrape by, go for it.

Reading your update I wouldn't hesitate. Peace of mind is more important than working. I retired at 60 from teaching. I loved teaching but I was constantly exhausted. I was very ready to retire and I haven't regretted it.

Maggie, you have posted a few times, and I am glad that Gransnetters are helping you towards your decision.

We are a couple, whose basic outgoings are under £1000 a month, which includes some treats. Our house is easy to maintain and extremely well insulated, which helps, and you may like to look at that.

Although the cost of being at home is higher because of energy bills, you do find that you can live more cheaply as you have time to look for bargains, make things from scratch, repair etc. In normal times we have plenty of free and cheap things to do.

Do you know Martin Lewis' MSE site? It is wonderful for pointing out how to save money and get good deals. He has a great checklist for keeping expenditure down.
Without doubt, poverty is stressful, but as others have said, £900 a month is not poverty unless your bills are high.
You have savings for anything unexpected.

You don't say if you have a car, or need to run one, and that is, I think a major expenditure. You're not yet eligible for a bus pass, so you do need to look at that carefully, but you may need to run it a lot less than at present.

I do hope that this works out for you, I know quite a few people who have done something similar and are very glad to have done so.

I’d struggle on that amount if I’m honest, mainly because of the unpredictable things that happen to derail carefully laid plans. In the last month, I’ve had a fence blow down in the storms, a piece of fascia board on my house fall off, and a puncture because the farmer had cut the hedges and left the clippings on the road.
I’d want to have more in reserve that the £8,000 you mention you will have by the time you draw your pension, or I’d be worrying constantly about what might happen, particularly if I had to draw on that lump sum to replace broken household goods or for maintenance issues. Would you consider retiring but taking up a part time job for a few hours a week just to build up your reserve, less stress than what you do now but just enough to keep you afloat?

Less

I think you can manage and that you will find some savings when you stop working (clothes, travel etc). On the other hand things like your heating costs will go up. I'd say do it. Have a period of complete rest and get over what has obviously been an awful time and then you may be prepared to take on something which may bring you in a small income. Even if you don't do that you will find just having time to yourself is so much better than having money.

I am inclined to agree with Casdon. 8K is not a lot of money to fall back on, the cost of small jobs add up. Would a part-time job be possible or could you rent a room? Maybe a short term rent to see how you were coping and if it was worth it financially.

If we ever return to normal, maybe house sitting would be an option for earning some cash? I do not know where you live but where I live, dog walking or sitting is also a lucrative job. Again in normal times, feeding a cat if the owner is away?

Good luck.

What helpful advice from you all! I agree 8k isn’t a huge amount of savings - Nannarose do you have savings? I run a car and have factored that in. Another option would be for me to downsize as my house is too big for just me but that would be a last resort.