CFC1905 wrote on Fri Feb 15, 2019 8:31am:
Can anyone define what a "tight budget " actually is. Surely that has different meaning to different people depending on their expected lifestyle..?
So far, we use Campsosl as a holiday home and effectively every time we visit it is a holiday and so we go out to eat and drink virtually every night. We appreciate that when we come to live on a semi permananet basis that will not be the case and we will eat in doors as well as spend the o...
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...dd evening in as well. However, I have not been able to find anyone who can really advise what type of budget is required
Closest I got was from a barman, so obviously working, who reckoned 1k per month was enough which included bills etc, however, as he clearly works it was not clear if that bolstered his 1k or if the job was required to reach his 1k level. As he was working he did not go out or drink as much either
Tough one to call and prepare for as far as I can tell...?
I would define "Tight Budget" as £1000 gbp per month in spain, small property, small economical car, not having the aircon/heating on as much as you might like,no pool, budget flight back to uk once a year to see family, going to the markets to save money on food, skipping days out or events you might have been invited to.
It can be done, and if that's all you have and at least you are out here in spain, but out of the Uk property market...perhaps...?
But what happened to HelenRooke can happen to anyone with a 10,000 unexpected bill for the house, you have to keep some by incase the car needs money spent on it, or you need a newer one, family has problems back in UK....etc,etc,ect...
£1500 per month would give you a little more financial freedom......and be able to save just a few pounds a month for the (just in case fund)
We had a "just in case fund" which became the kids we need a new car fund and we need help with the new extension fund and now the bigger house fund...but it's nice to help them out.....? I think...?
I'm not so sure it's such a nice place to be on a "tight budget" It really does cost more to live here than the UK and this will only increase as the EU costs are rising , you don't feel like you need a holiday for the first few years then it becomes the norm, and you might start wanting a holiday,
Cheaper houses are coming up day by day on the internet like the one today 15-02-2019 on R-move just over £33k, it will need some work but if you could bank the rest into small portfolio you can then see a return of 7-7.5% dividend to help with the day to day expenses .....This of course I would not recommend or encourage until you seek the right advice in both cases ..(NOT FROM ME) but it can be done...you just have to be a bit more resourceful.
Research, Research , Research , Research...and just when you have had enough, Research some more......!
The house for sale is not mine nor is it anyone I know, it's just an example of what is available on the open market today..!!!!