OUGD502 // Cost of Living

As part of the lifes a pitch module we have to work out our costing price as a studio. We were given a excel worksheet to work out our cost of living.
I did this as though i would be working in business and what the cost of that would be.

My cost of living as a working professional would be £28,883. This price is high compared to others within my group but that is because i have a car which i pay for and that comes to £5,696. If i was to take this off it would be £23,187 which is around the same of everyone else. Maybe when going into business i should get rid of my car?

To work out my daily rate - 

business expenses + income required / number of working days

£10,000 + £28,883  / 233 = £166.87 daily rate

I also took the opportunity to work out my cost of living as i am now, this would help me know what to charge on any work i am doing whilst being at uni.

I have kept everything the same, but got rid of the premises cost, as i live at home.

To work out my daily rate - 

business expenses + income required / number of working days

£10,000 + £16,474 / 233 = £113.62 daily rate