Budget when full timing

Discussion in 'Full Timers' started by Chris172, Aug 30, 2016.

  1. Chris172

    Chris172 Funster

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    We are looking to rent our house and along with a couple of personal pensions which mature in 2017 take the plunge to full time. Financially though we are 7 years off the state pension.

    The plan would be from November to spend sometime in southern Spain close to our Son and family and have found a site with the opportunity to stay inc electric for 8e per night based on at least 1 months stay at the local site to them which is within walking distance. Then to travel around for another couple of months and then to stay at our apartment central coast area for another month or so before returning to blighty for the 'summer' to once again travel around and visit the daughter, not to leave her out!.
    We have done a financial forecast to see if it's feasible and it's not looking too bad based on past experience of the cost of living on european villa holidays but would like to hear from others what they think a daily spend that would be adequate. The biggest problem I fear is the cost of living in the UK... i.e... sites.

    TIA
    Chris
     
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  2. vwalan

    vwalan Funster

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    well take lots of dried and tinned food from uk . bring back enough beer wine etc to last all summer and have big diesel tanks . for returning to uk. should be able to cope on 10 grand easily .
    but should you use restaurants /bars etc and campsites then more .
    can you avoid campsites?
    i do every winter .
    i come home in the summer as its cheaper than living on campsites in uk.
    i find food ,clothes cheaper in uk .
     
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  3. Ven

    Ven Funster

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    We spend so much more when in the UK which is the main reason we spend so much time out of it!

    Most of our time abroad so far has been split between France, Spain and Portugal and although given the choice I prefer France (just) it is much cheaper in Spain and Portugal than France and the UK.

    Dave was reading an article on the cost of living throughout Europe and it said that Portugal was 45% lower on average to give you an idea (although of course that was living in a house etc.). We tend to agree though based on aire prices, grocieries, diesel and eating out that we have experienced.
     
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  4. John Laidler

    John Laidler Funster

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    Worth looking at the fixed costs first: full time insurance is expensive, get a quote, vehicle tax, servicing, the costs for things like opticians, dentist, mobile phones etc. Take off costs for house repairs, redecorating etc.

    Start a spreadsheet and see if the sums work.

    Or just go and enjoy it!
     
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  5. Chris172

    Chris172 Funster

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    @DBK Have done a spreadsheet and allowed for pretty much everything you mention including the running costs for the apartment in Spain and comes out to about £1000/m spending money.
    We find the cost of living much cheaper in Spain than the UK so hopefully it should work.
     
  6. Easyliving

    Easyliving Funster

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    You will get plenty of different opinions on the cost of fulltiming but a lot depends on what sort of lifestyle you want. If you like to eat out two or three times a week, stay on top sites etc then your fulltiming will obviously cost a lot more than if you can stay on aires and just have have the occasional 'plat du jour'.

    When in the UK you could always think about getting a seasonal pitch on a campsite. This would be ideal if you want a bit of a base to come back to but want to go off and tour round a bit too. We have fulltimed in the past and hope to again in about 18 months time when I can finally shake off the shackles of 'work'. A seasonal pitch is quite a big outlay but the average cost per day is only just over £6, and that includes top facilities and wifi at the site we stayed on.

    Good luck with your plans.

    Paul
     
  7. Gromett

    Gromett Funster

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    My living expenses each week vary from between £120 and £150. This includes site fees, food, tobacco and alcohol.
    It excludes insurance, diesel, LPG and maintenance and phone/internet.

    Tobacco for me is £30 a week so you could knock that off the total.

    In Europe I could live about £50 cheaper by using Aires.

    I am a solo fulltimer so you would need to add a bit more for food.

    Diesel and LPG are a variable and it depends on the size of your van and where you are located and how far you drive.

    Insurance is about £1200 a year for proper fulltime insurance.

    If you have a decent van and tour Europe you can live as cheaply as £50 a week if you don't smoke. If you stay in the UK on sites then the bare minimum I would say is about £100-£120 a week.

    You do need to keep an emergency fund for repairs. You need to budget for maintenance including perhaps a B&B stay if you have big work needing doing at the MOT. I have never needed this so far but that is more luck than anything. Finally you need to save each year for a replacement van.

    There is a lot more but there are too many variables to consider in such a short post.
     
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  8. scotjimland

    scotjimland Funster Life Member

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    exactly correct..

    As a family of four, when full time, mostly in France and UK, for ALL expenses, we budgeted on £12k per year .. and that was not being extravagant.. rarely ate out, no big sites.. mostly CLs and Aires..

    Other full timers at that time would concur .. £12k was probably a minimum .. some could spend double that..

    best advice.. .. do a speed sheet.. and for UK sites, using CLs budget on £15 per night.. you may get cheaper but that price you won't under budget.

    Abroad.. anything from Free to €15 on aires or municipal sites
     
  9. Chris172

    Chris172 Funster

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    @Gromett and @scotjimland Thanks for your info. all sounds do-able and just to be on the safe side we do have a back up balance in the bank :)

    Just one thing about FT'ing and insurance.... if the van is in storage for a couple of months in Spain while we stay at the apartment...and a month in the uk while we stay at daughters is that 'technically' FT'ing?? so would we need the specific FT insurance?
     
  10. vwalan

    vwalan Funster

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    is the van insured while in storage . might not be .
    have you an address in uk ?
    are you too long in spain and should you register the vehicle there .
    are you out of the uk too long and not really resident .
    all questions you have to work out .
    where are you going to register your vehicle in uk or driving licence .
    if you use a relatives will effect their rates bill.
    lots of things to consider .
     
  11. Gromett

    Gromett Funster

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    Technically yes, if you are living in the Motorhome and are not registered at a specific address then as far as the insurance company are concerned you are fulltiming.

    If however you are registered at an address but go away "A LOT" then you can use normal insurance. However you must ensure that there are no limits on how long the motorhome is away from the registered property.

    There are a lot of fulltimers who "play the game" and just have normal insurance. Chances are that they won't have any problems. However if you have an accident while doing this and it turns out you are fulltiming then you may have problems....
     
  12. scotjimland

    scotjimland Funster Life Member

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    I would say yes.. but you really need to ask the insurer .. Comfort Insurance are the only ones offering full timer policies.. speak with them first .

    You probably know this, but be completely honest about your plans.. . not doing so, in the event of a claim will give them reason to not pay out ..

    Be aware.. Once you mention 'full-time' it goes on the record which is shared by other insurers
     
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