Cost of Living
Income
Income:
Mortgage Costs
How much can you borrow?
rmortgage.co.uk/mortgage_calculators/first_time_buyer_calculator
Cost of home:
Mortgage Repayments =
rmortgage.co.uk/mortgage_calculators/mortgage_rate_calculator
Tax
tentotaxman.com/
Yearly Pay =
Personal Allowance ￡5225
Starting rate 10% 0 - 2,230 National Insurance 11%
Basic rate 22% 2,231 - 34,600 National Insurance 11%
Higher rate 40% over 34,600 National Insurance 1%
Council Tax
Band A - ￡974.76
Band B - ￡1,137.22
Band C - ￡1,299.68
Band D - ￡1,462.14
Band E - ￡1,787.06
Band F - ￡2,111.98
Band G - ￡2,436.90
Band H - ￡2,924.28
Electricity Running Costs Calculator
1. Write down the item you are costing, e.g. Light bulb
2. Either find its Amps rating and x 240 or write down its Wattage
3. Watts/1000 = kilowatts or kW
4. Hours used in month (use an average)
5. Kilowatts x Hours = Kilowatt Hours or kWh
6. x Number of the same Items in the house
7. Total kWh to run all such Items in house for 1 month
8. Total estimated kWh of all major electrical items
9. Add on 10% to allow for extras
First 900 units are called Primary Units
The remainder are called Secondary Units
Electricity Primary Units costs 16.18p each kWh (Kilo Watt Hour)
Electricity Secondary Units cost 9.01p for each kWh
10. Number of Primary Units used
11. Cost of Primary Units
12. Number of secondary Units used
13. Cost of Secondary Units10% discount if you use both Gas and Electricity
14. Add 5% VAT
Gas
Number of Cubic Metres used
Number of Cubic Metres multiplied by 31.4
First 1250 units are called Primary Units
The remainder are called Secondary Units
Gas Primary Units costs 4.04p each kWh (Kilo Watt Hour)
Gas Secondary Units cost 2.06p for each kWh
10% discount if you use both Gas and Electricity
Add 5% VAT
Food and Toiletry Costs
￡40 to ￡200 per week for a couple
Car 2007 Running costs
aa.com/allaboutcars/advice/advice_rcosts_petrol_table.jsp
Investigate some other Costs
Children
Childcare
Insurance
Water bill,
Phone bills (landline, mobile).
TV Licence
Sky
Pension payments
Credit Card Bills
Repairs to house
Meals Out
Days Out
Holiday
Clothes
Electrical Items
Hairdressers
Benefits
.gov.uk/lifeevent/benefits/
Cost of raising a child
esonline.co.uk/tol/news/uk/article632126.ece
was ￡180,000 in 2006 and
egraph.co.uk/news/main.jhtml?xml=/news/2007/12/07/nrates407.xml
was ￡186,000 in late 2007.
Prepare a report to support or contradict these reports.
Check out this US calculator, which ought to be promoted as contraception. enthood.com/colc.html
enthood.com/crc2006_chart.html
MEP Assessment online activity
t.plymouth.ac.uk/projects/mepres/book7/book7int.htm