How much money do you need?

Discussion in 'Full Timers' started by tick59, Dec 26, 2007.

  1. tick59

    tick59 Funster

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    How much money do you need to go fulltiming? I work as an HGV driver have a morgage and a motorhme.The morgage will be paid when i am 65 six years to go. I dont wan't to work untill i am 65 but i suppose i will have to. I would pack it all in tommorow if i could afford to do it. But with no income how could I ? The wife is also of the same mind. Our kids are grown up and live there own lives and are not botherd about an inheritance my parents left me nothing so why should I leave my kids something?
     
  2. moandick

    moandick Read Only Funster

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    How much does full-timing cost?

    I reckon it might cost more than you believe - but from my four years experience it is roughly this:-

    per month..... £500 site fees at least and you may have to pay extra for Electric
    £600 food and drink
    £100 servicing, mot, maintenance
    £100 RV Insurance & road fund licence
    £200 fuel - obviously dependent on milage
    £100 car costs, at least

    In total approximately £1600 per month without too many luxuries :Eeek:

    Very broad ball park figures but not too far out, in my humble experience :Sad:

    Then again I haven't included a clothing allowance for the missus :Doh:

    Dick
     
  3. kijana

    kijana Read Only Funster

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    Mo and Dick have much more experience fulltiming than we do - we've just celebrated our first full year.

    But our costings agree very closely with theirs. We have kept careful accounts, and reckon our first year has cost just over £20,000.

    Where possible, we've tried to exclude capital items from this figure - so it doesn't include equipment bought as a one-off.

    Our breakdown would differ a bit from Dick's. We spend less on campsites, since we spent summer in France on aires, and tend to stay long enough on campsites in Spain to get good discounts (we're paying just over €300/month + electric here on the Costa del Luz). But we seem to spend more on food & drink: this despite the fact that we rarely eat out and never drink in bars.

    So I think it would be unwise to assume that just because it's sunny & you live in a motorhome that you can do it for peanuts.

    Having said that, there are those who have far greater experience than I who say you can, so I can only relate what we've found. I guess if you wildcamped all the time & ate beans on toast every day you could spend a lot less!

    As to selling your house to fund your travels, that's what we did, & sod the kids. They're around 30 now, so even if we only last another 20 years they'll be 50 odd before they see any inheritance. And if they haven't made it on their own by then they've left it too late!

    Bruce
     
  4. Supertractorman

    Supertractorman Read Only Funster

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    As an HGV Driver why not do a bit of casual Driving in your travels to make a bit of cash. There are many companies looking for Holiday Relief Drivers and some even may have a far corner in the yard where you could park up. I intend to use my HCV / PCV this way as long as I can especially leading up to Christmas when the extra cash would be handy and its those long dark nights.

    David
     
  5. johnsandywhite

    johnsandywhite Read Only Funster

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    :Cool: As a Full-timer and a retiree of over 11 years with one more year to go before I receive the basic State Pension I am still keeping my head above water and in the black. I have 2 houses, one of which still has a mortgage. We receive a small rent from each of the 2 houses by renting to family. I have a small miners pension that I have been receiving since I was 50. I reckon we have around 8000 to spend each year. Any capital I have has been used over the last 11 years to buy RV's, Motorhomes et al. I still have a small amount left in Isa's and a PEP. We live a good life travelling Europe and the USA. It is NOT a BIG Holiday. It is a way of life. We have seen many sell up and go to live in Spain. They act as if they are on holiday. Usually within 2 or 3 years, they have spent up and gone back to the UK or are struggling to find work to carry on the lifestyle. :RollEyes:

    May your travels be many and your troubles be few. :Wink:
     
  6. freakylady

    freakylady <font color="red"><B>Quiz Champ</B></font>

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    hi
    am just trying to figure out the cost of partial full timming - ie three months or so over the winter spent in southern france...

    would you still stand by the figures posted above or has the credit crunch changed those figures?

    and how frequently do you move around? whats a typical week cost?

    thanks
     
  7. Marrwyck

    Marrwyck Read Only Funster

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    Hi everyone.

    Well we decided to buy a Motor Home & give Full Timing a go.
    At the grand old age of 46 & er indoors a tadge older, never ask a lady her age, lol.
    I gave up being a Class 1 HGV driver & she gave up her job, we have sold everything we owned & have just passed the 2 month stage.
    I'm really careful & can survive on all basic needs buying only what I class is required to survive.
    I use all our resources to the best of their advantages & to their full potential.

    This isn't a holiday, it's an opportunity to travel & do what you want.
    I feel it can last as long as you want it to & if you don't know it's because you never asked, if you knever asked then you don't know :BigGrin:

    We were both fed up with the rat race & we decided to do something about it.

    Who know's, tomorrow may never come. But hopefully not until we've travelled europe & been back to the USA :thumb:

    Whatever you decide, enjoy it & relish the experience.
     
  8. thehutchies

    thehutchies Funster

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    Have a look at this family:

    blog

    travelling and living on 25,000 US dollars a year
     
    Last edited: Jun 29, 2008
  9. artona

    artona

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    Hi

    Where was it first written that a man who has a penny more than he needs is a happy man. No reason why it should not apply to fulltiming.


    stew
     
  10. Thepips

    Thepips Trade Member

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    Annual Income £20, Expenditure £19/19s/6d, result happiness.
    Annual Income £20, Expenditure £20/0s/6d, result misery.

    Dickens. Mr Micawber I think

    Regards
    Doug
     
  11. artona

    artona

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    Hi Doug

    You are in good company with your knowledge. Just asked Shona and she said exactly the same. She then went on to say she had never read it, so just how does she know so much lol.

    Me - I did not have a clue


    stew
     
  12. Wildman

    Wildman Read Only Funster

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    Charles dickens quote by mr Mcawber in Nicholas Nicklby.

    The answer to your question as a different as the number of people telling you. I've just read of a site in Germany £100 per year inc waste, water and electricity, add to that food and running cost and it is very low compared to prices quoted.
    You could rent out your property and live off the income. Not all dreams are in a ginormus expencive to run ARV, can be done in a much smaller van depending on your needs. It is you who decides what to eat and drink, fish supper or caviar, your choice to suit your budget. Decide your own lifestyle and budget for that. Cheaper and easier overseas.
    Good luck, do keep us all informed:thumb::thumb::thumb:
     
  13. RuthRv

    RuthRv Read Only Funster

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    I think that figures quoted by those who have full timing experience must know what they are talking about, I admit that I have seriously thought about it, do most full timers also do some work, ( i know artona does, and moanddick) but how many others of you out there also have to substitue your capital, after all unless you have lots of money then at 1,600 per month ball park that would soon eat into your capital over time,i now receive my state pension (full) but i am still working full time, but even though i no longer pay national insurance this bloody government take my pension off my persnal allowances then tax everything i earn at the higher rate of tax, now i understand them taking the pension of my personal allowance, but i have paid tax on this money over my many working years, and now they tax it again, i also have a small pension from the bank which before i reached 60 was not taxed now it is to the tune of £47, now not paying NI which gives me an extra £74 a month, but i am losing more than this because of tax, yes i am still better off continuing to work, but if the goverment didnt tax me as well i would be better off still, i sent an e-mail to DC abut the tax that pensioners who work are having to pay,and suggested that has we had all paid our dues, then why not tax our working income at 5p in the pound thats better than nothing! but don't hold your breath.

    after reading how much it costs to go full timing, i have had a rethink, and have decided that we are better off staying where we are (Park home) and just taking longer holidays when eventually we do retire, but even then we reckon that we will both have to work a couple of days a week to be able to go on long holidays, if only i could win the lottery all problems would be solved:Rofl1:
    ruth
     
  14. johnsandywhite

    johnsandywhite Read Only Funster

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    :Cool: This is one of those 'How long is a piece of string?'. Some need at least £20,000 a year to live on. Some like ourselves seem to manage on £8000 (more or less).
    We are in our second year of being ensconced on a camp site in Spain which cost us this year (after exchange rates and ATM charges) £4,400. We have a Kontiki for commuting. We have been retired since October 1996. I calculated that the way we were living in Spain and what we had in savings, investments and income. That it would last us until I was 65. I will be 65 in December. We still have funds left. Even after buying several Rv's, cars and Motorhomes.
    I guess my string must have been stretched a little? :Rofl1::Rofl1::Rofl1:
    Whatever you decide? We hope you have MANY travels and FEW troubles. Happy Rv'ing:Wink:
     
  15. johnsandywhite

    johnsandywhite Read Only Funster

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    :Doh: Looks like I forgot that I had previously posted in the first page of this thread. :Blush:

    :BigGrin: Not to worry. As I have just mentioned above. We are now on a camp site with our USA RV. But have our Kontiki for commuting. We have travelled back to the UK twice each year for the past 2 years. We use the Kontiki occasionally for visiting friends and the odd shopping trip while in Spain. In the past. We had 7 years of touring. Both in Europe and the USA.
    We buy fresh Fruit and Veg from the local open air markets and stock up with the essentials in the UK. The rest of our weekly shop is done at Lidl.
    We usually go out at least once a week for a meal with our Dutch friends. Mostly the cheapo Chino.
    Our weekly shop costs around £30 and spend up to £140 on stock before leaving the UK.
    Since the exchange rates went against the UK (and of course ATM charges - better changing cash at the exchange). Our camp site fees have increased quite a lot from £3,800 to £4,400 for this year.
    We mainly use bikes for getting around. Good for the pocket at well as the health. :Wink:
     
  16. Rose Royce

    Rose Royce Read Only Funster

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    DON'T let other people put you off. You will only become resentful if you don't go out and do something you wish to do. Give it a go and damn the consequences. Life is far too f*****g short, you could be dead tomorrow. GO FOR IT!!!:thumb::thumb:
    That's flipping by the way.
     
    Last edited: Jun 30, 2008
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  17. johnsandywhite

    johnsandywhite Read Only Funster

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    :Eeek: You obviously haven't read ALL the posts from full-timers Ruth. Either that or you and Tony must have an expensive lifestyle? Believe or not? I actually get taxed on my measly £8000 too. :Angry::Angry::Angry:
     
  18. freakylady

    freakylady <font color="red"><B>Quiz Champ</B></font>

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    Thanks Johnsandywhite for your reply - it really helps to have a idea of weekly costs as weel as how much a year could cost - guess we'll have to think and plan it a bit but will keep you all posted if in a few months time we do manage to fuly the nest!!

    :)
     
  19. Don Madge

    Don Madge Funster

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    Hi,

    I only part time :Rofl1: but this site will give you plenty of info. MagBaz Travels - A to Z of Long-term Motorhoming the Williamson's have had a lot of experience.

    Don.
    Old age traveller.:Wink:
     
  20. nomadic

    nomadic Funster

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    How much do you need to go full timing

    Hi,

    Just returned to Uk after three months in europe and scandinavia, and read your post.

    It can cost as others have posted, you may wish to consider a stepping stone method, as your better half is of the same mind...join the camping and caravanning club, and become an assistant on one of their camp sites for the season (approx six months a year) paid of course, which will subsidise the following six months, possibily in a warmer climate. This will help with the expenditure, balancing the books, nd giving you both a new lifestyle.

    We have full timed for three years now, but managed campsites before embarking on the fulltime ride. Our downsized home is let under management by a property agent, costs but gives a small surplus after tax, and the bricks and morter are there when we return.

    Go for it, dont hesitate

    Nomadic
     
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