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Does anyone live on £1,000 per month?

(149 Posts)
LaCrepescule Sun 19-Jun-22 09:42:45

I’m thinking of retiring a year early due to ill health and my combined pension would be just under £1,000. I’ve paid off my mortgage. Do you think this is enough to live on? When I reach state pension age in just over a year’s time, this will go up to just under £1,600 so would only be doing this for a year.

Chewbacca Sun 19-Jun-22 09:49:04

Sounds doable to me; millions of others, of all ages, manage on far less.

MawtheMerrier Sun 19-Jun-22 09:49:18

I think there are many people living on less!
Is this net or gross income? That would make a difference of course.

timetogo2016 Sun 19-Jun-22 09:56:17

Go for it and have a happy retirement.

Chestnut Sun 19-Jun-22 09:57:02

I live comfortably on that amount but I don't drive a car. No mortgage. It's net so that's what I actually get. I have no idea how this will play out this winter when energy and food prices go through the roof, but I don't expect to be in poverty.

Luckygirl3 Sun 19-Jun-22 09:59:44

I live comfortably on about that .... in a year's time you will be rich in my book!

I have no mortgage but do run a small car. I have plenty left over each month to do lovely things like going to concerts.

LaCrepescule Sun 19-Jun-22 10:00:57

Thank you for your replies. It would be net income. My job is contributing to my ill health so I feel retiring (I’m 65 in September), is the sensible option.

RichmondPark Sun 19-Jun-22 10:01:00

Yes I do. I've paid off my mortgage and live my quiet and quite frugal lifestyle very happily on just less than £1,000 a month.

I have a small bungalow to run, grow my own veg, have camping holidays and rarely use my low tax, little car. I use the library for books, buy clothes in charity shops and enjoy free exhibitions and cultural events. I enjoy living seeking out bargains and making ends meet might drive someone else bonkers.

It's a matter of how much you need to lead the life you want.

RichmondPark Sun 19-Jun-22 10:08:27

Message withdrawn at poster's request.

RichmondPark Sun 19-Jun-22 10:09:37

Posted on wrong thread. Reported and asked for a delete. Sorry.

harrigran Sun 19-Jun-22 10:24:16

I could not live on £1,000 a month, I do not run a car and have no mortgage but when I totted up direct debits and monthly expenses I was surprised to find I would need considerably more to continue living comfortably.

Tizliz Sun 19-Jun-22 10:38:23

Why don’t you try living on that amount (+ any work expenses) for the next month?

Casdon Sun 19-Jun-22 10:42:40

I couldn’t live on £1000 a month either without making very major compromises that I know I’m fortunate not to need to do. It’s the unexpected things that hijack the best budget planning. I’ve had to get a new washing machine and pay out a plumber’s bill in the last couple of months, and house and car maintenance is always a drain on resources - if only things didn’t keep going wrong!
I think if you’ve got a decent nest egg of savings for contingencies you will manage as long as your house and car are in good order with no known expenses on the horizon. Make sure you factor in the additional heating bills for the winter too.

Grandmabatty Sun 19-Jun-22 10:44:42

I have lived on that for four years. I have no mortgage. However I'm finding the cost of living has risen hugely and I've had to dip into savings for mundane things. That is unsustainable so I might have to pull back on social events which cost more.

PrettyNancy Sun 19-Jun-22 10:46:13

When I first retired 2013 I was single, my pension was about £600 a month, I managed very well. Now married our joint pensions are about £1,500 we do ok. The extra bit from our monthly Premium Bond winnings help out most months! Everyone has different lifestyles and expectations... we rarely eat out, or go to the pub, we grow a lot of our own veg and look for bargains in the supermarket, but I think we would be the same if we had more income, its just what we do!

Chestnut Sun 19-Jun-22 10:50:26


I could not live on £1,000 a month, I do not run a car and have no mortgage but when I totted up direct debits and monthly expenses I was surprised to find I would need considerably more to continue living comfortably.

That just proves how much your lifestyle plays a part. I have found it perfectly adequate, so you must be spending on things I'm not! I'd say energy, water, council tax, TV license and mobile phone are essential. Food and travel are essential but flexible expenses. Everything else according to how much is left over. Check what else you're spending on and you'll see what is a lifestyle choice and what you consider essential.

Farzanah Sun 19-Jun-22 10:52:08

If it will only be for a year and work is contributing to ill health I would certainly do it. Life is short.
Have you totted up essential expenditure and do you have any savings for unexpected expenses?

GrauntyHelen Sun 19-Jun-22 10:58:11

We live perfectly comfortably on much less

boheminan Sun 19-Jun-22 10:59:34

I happily manage on £738 a month...

pooohbear2811 Sun 19-Jun-22 11:02:52

you can "live" on it if you "exist" but if it is only for a year and you can do without luxuries then I would say go for it. I work and have an income of about 1100 time and by the time I pay my rent, leccy, council tax and run a car it is very very difficult a level to exist on long term.
I have nothing for unexpected expenses, need a car as my shift starts 2 hrs before the first bus leaves the village. Every day is a struggle.
Having said that I save money by picking up food from Olio and 2 social larders, not sure how I would manage without this.

Luckygirl3 Sun 19-Jun-22 11:04:51

Retire for heavens sake! Life is just too short! There is no reason at all why you should not live comfortably on what you will be getting.

My OH retired at 60 and acquired Parkinsons and had no fun at all in retirement; he died two years ago and since then I have had one health problem after another that has made my life difficult.

Retire now and enjoy some stress-free life before grim things catch up on you!!

rosie1959 Sun 19-Jun-22 11:05:53

If alone and with no mortgage I could manage but there after basic bills and food there would be little left. So yes I could manage but would it be comfortable then no

henetha Sun 19-Jun-22 11:06:41

I live reasonably comfortably on quite a lot less.

midgey Sun 19-Jun-22 11:08:34

Why would you risk it when live is so uncertain? By all means try it out for a few months but given the cost of living price rises just recently I wouldn’t !

Chestnut Sun 19-Jun-22 11:12:47

I agree with Casdon that you need to be prepared for unexpected house or vehicle expenses. Definitely need a savings account for emergencies, although I'm on £1,000 a month and haven't needed to dip into it so I must be doing something right. New fridge, new glasses, hearing aid all out of my current account. There are a lot of overgrown trees round here, so that could be a massive expense. I'm not sure my current account could cope with that.