Anyone live on £900 a month?

I def think you should do it and you could, assuming that all your calculations are correct. We live on a little more than that for 2 of us which covers all our main bills and joint expenses. We are lucky as we have work pensions too but keep the bulk of those for ourselves to spend as we see fit - very little during lockdown! I’m sure that with careful budgeting it will be fine. And whilst 8,000 may not seem a lot to many, I never had anything like that as savings when my family were growing up and I know that my children don’t now. Good luck and I hope it all works out well for you.

Your health comes first! I think you will be fine as you have no outstanding debts plus you seem savvy with finance! Always have a cushion for new boiler or other emergency You should try for PIP but get help to complete form as tricky! Attendance allowance for over 65s! Reduced council tax, free prescription , eye test ! Cook fresh etc! I think you will be fine and good luck from one who retired at 58 after 36 years of teaching and never looked back ??

Charleygirl5

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.

Why are you and Casdon so negative. Maggie go for it. You will have more than enough to live on, and you have savings. I built up a load of clothes and shoes etc when I was working. So I would have enough and not need to buy anymore. For goodness sake don’t take in a lodger or downsize. If you are suffering with ill health, now is the time to go. I had a very stressful job. I prepared a resignation letter and left the same day. It was so exhilarating and my friends and family sent loads of messages saying well done for leaving. Your life will change for the better. There are loads of organisations that will help and social groups. I have no private pension and I manage very well. Go for it Maggie before your health gets worse.

I live on a lot less than £900...!!! Les than £660 in fact, so yes, you can do it ...!!!

Nannan2. Not sure I’ve seen anyone being smug. Just lots of people trying to offer their thoughts and advice - which is what was asked for. If you don’t have anything positive to say then I was always told to say nothing! Maybe you and your goat should give this post a miss.

ajswan I’m not being negative I don’t think, I was just saying that it takes a certain amount to maintain the life comforts that you already own and still have an enjoyable life without worry. Isn’t the suggestion of a part time job a practical way of doing that?

Most of us live on a lot less I live on 175 a week and still save but I have no rent or mortgage and pay council taxes just over pension credit those on that are the best off my friend is and has a holiday every other month as no c/tax and free extra winter payments no glasses,dental treatment etc

That’s not the case catta5, here’s the average income information:

The government's most recent data (taken from 2017/18) shows the average weekly income for pensioners to be £304 – that's after you've taken away direct taxes and housing costs. This works out at around £15,080 net per year. The average retirement income in the UK is also affected by regions.

I’m sorry if I’ve upset anybody, I know many people manage on less, but I was trying to give an informed perspective given OPs circumstances, it wasn’t meant to be one upmanship.

As you are retiring with ill health you may be able to claim attendance allowance even if you love alone This can be nearly £90.00 a week. Google it. There is no means test.

i would just like to say i am 75 and have to live on less than £750 per month. It is hard work.

I think it is very doable, I quit work early because of my mental health, the sense of relief after I left was incredible. You wont look back. Yes there was a loss of income but the difference to my life more than made up for it. My daughter told me a few months later she felt she had got her old Mum back. I wish you the very best if you decide to go ahead and quit .

It took some fighting but my daughter has just qualified for PIP because of her MH - had to go to Tribunal though but then at least we got a fair result

If you would like to PM I can give you some tips and places to go that will help you with that.

Also if you do not resign, and let them 'medically retire' you, would you not be entitled to some Universal Credit too based on your NI Contributions over the years?

I live on a bit more than that but it's not easy .....

I agree once more with Casdon- we were trying to be helpful and those were our thoughts- take them or leave them.

Again this is personal but it is better to downsize while you are physically capable because as others have said in the past, it is a mega burden if left too late.

As somebody mentioned, she is fearful of having to replace kitchen items. My fridge freezer and washing machine took a permanent holiday at the same time and when one is desperate to replace those items it is not always easy to find bargains.

Yes definitely- although my income is more and I have a savings buffer and most months spend less than £900 including a rent payment. My bills are as low as I can get them, my normal (pre Covid) activities are quite cheap via public transport and I don’t spend much on beauty or clothes. It suits me but we’re not all the same. Sit down and do a realistic budget sheet before you make your decision. Good luck

When I lived alone (now live with daughter and her family) I managed quite well on about £750 a month. I had no mortgage but did run a car and had savings for any emergency.
If you can manage for a few years I'd say definitely go for it.

I took early retirement at 59 and finally get my state pension later this year. I have managed all this time on my reduced teacher pension of £664 a month. I don't have to pay rent or mortgage but have the other usual living expenses. I did my calculations very carefully and have lived a fairly frugal lifestyle all my life - easy when you don't have a choice This means that my standard of living actually increased. I am not eligible for any benefits because of the pension I am receiving, which is lower than the pension credit limit. I don't regret my decision at all. However, as others have said only you will know what you feel you need. Good luck with it all.

G'morning Maggie, I managed very well on less than that, ate healthily, fresh produce, home cooking, kept warm... I've never bought lots of clothes and stuff and like charity shops... Managed to rent a Beach Hut, never scrimped on Moisturiser nor M&S undies, Guardian on Saturday, lots of bus travel with picnics which I love... My advice for what its worth is do it!!! I too retired early and like you worried about money 'stuff', I honestly never regretted it, I'm now 70 and sooo glad I made that decision :-)

Defiantly yes. Life changed completely for me when I retired. Where I made my savings was not having to buy new clothes for work, lunches, contributing to office collections and it was a big office lol.

I replaced my working life with The u3a. Took up new hobbies.

Martin Lewis Money is a godsend and my go-to man for all my bills.
I sold my car and because my bus pass covers the trains(within a boundary) and also bought a three-year rail pass to get a third off.

When it was possible to travel I could travel to London for a twenty-pound return of less. Book a wonderful lunch at Zedels Brassiere (set lunchtime menu) for £10.00)and back on the train and home for about 9.00 and in all had a fabulous day in London for £30.00. Good luck in your retirement and enjoy a completely fabulous new way of life

Casdon - I think your contribution sensible, not intended as 'one upmanship', just stating your experience.
Nannan2 - I agree that it sensible to keep away from threads that might bother you (I do!). And as Maggie is asking for people's experience, we cannot give it honestly without saying some of these things. I do not intend either to be boastful or ignore the issues at stake.

And to directly answer you Maggie, yes I am lucky enough both to have savings, and another pension. That, on a day-today basis mostly goes into savings.
I keep a track of finances - that is why I know what we spend most months, on a lifestyle that is comfortable.
I said that we spend under £1k a month on basic bills and some 'everyday' treats. This is what we spend over and above that:
A TV sports package
Some holiday expenditure (our 'basic' holidays cost little)
Any car repairs that fall outside routine maintenance
Any non-routine garden / house expenses - we too had to replace a fence recently - and I got a new lap-top.
Major family gifts / occasions (such as weddings)
Some charitable or similar donations / subscriptions

What is included in the £1k
An occasional meal out, although we are more likely to buy a treat to eat in
Most Xmas / birthday gifts
Our hobbies
Local concerts, theatre & festivals.
Swimming (usually!)
Basic clothes

That is why I would say that £900 a month is do-able. It is true that over several years, your savings would get eaten away, but once your State Pension kicks in, you will be able to add to them.
2 years without many new clothes, or going away much is do-able. I also think you will find, for instance, you can make your clothes last longer without work to think of, and you will be able (soon, we hope) to enjoy local outings.

good luck

If you have done your calculations - which you say you have - and your mental health is at stake then you will manage, not only manage you will enjoy your life far more than you are doing atm - good luck, go forth and relish your freedom

Nannan2

To all of you who 'scrape by' on 900 a mth, many have much less to live on, and no way of improving that after one or two years-Many do- AND with children or other family to feed. its starting to sound on here like a band of 'one- up manship'-with your 'home ownerships,and 'private pensions '- i dislike this attitude.I may just stick to the lighter threads in future.

Gransnetters were just trying to be helpful and honest and your comment is quite frankly very rude!

So owning your own home and having a private pension is “one-up manship”?

You talk a load of twaddle Nannan2

I would say go for it. The peace of mind will improve your quality of life so much. Stress is a killer. You won't need expensive trips out or treats when every day is a treat.

I have being doing this - living on around £900 pm for several years. I occasionally supplemented it with Airbnb guests which I used to go on holiday. It also made me feel better about living alone in a 4-bedroomed house I think you will be fine with your £8k savings for a couple of years and once you have the state pension you can start keeping a bit back for emergencies. I run a car and a dog!

We have been living on Pension Credit for just under 5yrs, so every 4wks we have been getting £1,154.80 as I also get the lower rate of DLA. We do have some savings but we have managed absolutely fine. We have a fairly large house but it's very well insulated so our heating bills are never high. We run a 4yr old car that was fairly expensive when we bought it but the tax on it is Zero, although the service can be a bit pricey. We have a dog, only a small one, but we have to pay out for her to be groomed every 7wks. My mother has always instilled in me that it's important to always eat well and keep warm so we never skimp on food. Neither of us smoke or drink so that helps to keep bills down. We don't really take holidays as neither of us are bothered about them. As we are on Pension Credit we don't pay Council Tax either, which is good as that is one bill that tends to be quite high. I honestly can't think of anything that we are missing out on so I'd also say good luck and I hope you enjoy your freedom

Nannan2 you have absolutely no idea about my life, my commitments and my outgoing costs. Wind your neck in.