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to ask you how much money you have left per month after you have paid for essentials?

(36 Posts)
FlabRaKebabRa Fri 25-Jan-13 11:31:17

I am trying to make a new budget (new year new budget and all that!)

How much money does your household have left over per month, after you have paid for all the essentials?

By essentials I mean rent/mortgage, utility bills, council tax, running car, transport to work, childcare, supermarket shopping, mobile phone etc

I am not counting stuff like buying new clothes, going to the hairdressers, gym membership, going out to dinner etc as essentials.

Lovelygoldboots Fri 25-Jan-13 11:36:33

Sometimes new clothes are essential especially for kids. And we all need to get our haircut. I have about enough left for chips for tea on a Saturday night.

YorkshireDeb Fri 25-Jan-13 12:05:21

Not a lot because I'm on maternity leave at the moment. And have no idea how the amount I have left will help your budget? X

Minus £500. Don't ask. Savings are taking a hammering.

Netguru Fri 25-Jan-13 12:14:15

With another thread in mind - why? How does knowing what others have help you make your budget?

Genuinely not having a go. But if higher income MNers answer there will be allegations of insensitivity or boasting.

Hard to say because supermarket shopping is a massive variable. Before supermarket shopping it looks like we should have plenty but it doesn't take much overspending on treats or extras like new bits of uniform at the supermarket to tip us over into the 'Oh-no-ten-days-til-payday-and-we've-spent-it-all' territory. Even though I'm generally good at budgeting, if we've had a couple of unforeseen expenses in a month we spend the last week or so of that month eating whatever non-perishables we have in. Luckily the kids like baked beans, pasta and toasted sandwiches so we can eat really cheaply for a month and not mind!

How is knowing what other people have left over going to help yuo budget?

Please don't think I'm being snidey - I'm genuinely curious.

smile

BelieveInPink Fri 25-Jan-13 12:21:36

YABU.

yuleheart Fri 25-Jan-13 12:22:28

Enough.

Not sure how knowing what everyone else has left affects your new budget wink

AudrinaAdare Fri 25-Jan-13 12:23:04

I don't really see how it would help either.

Do you want to save, for something or to pay off debts? If so, you could do a benefits calculation for your family, live as if and bank the rest I suppose.

fromparistoberlin Fri 25-Jan-13 12:29:42

£2759.21

grin

whois Fri 25-Jan-13 12:34:24

That's a very hard question to answer and won't be very comparable, as my supermarket shops vary between a bulk stock up of cheapo stuff in lidle but then the most expensive fillet steak in waitrose and other expensive and frivolous food items. I often eat 3x meals a day at work, so I kind of count food as a discretionary spend item as if eating at home I get enjoyment out of cooking and I often eat out with friends too.

I have about £1650 left after rent and bills (pension payments taken at source). I save £300 to £500 a month. I pay my car insurance upfront once a year. If I bike to work that's free, if I get the tube that's £120 a month ish.

So probably about a grand left over as disposable income, however I include food shopping as disposable income.

No children. DP and I have entirely separate finances.

Madlizzy Fri 25-Jan-13 12:36:38

Minus 2000.00. And I'm not joking.

WhenSheWasBadSheWasHopeful Fri 25-Jan-13 12:38:19

£700 after the bare essentials.

As others have said I really don't know how this helps you with your budget. Will be lurking o this thread though cause I'm nosey.

whois Fri 25-Jan-13 12:40:06

Oh, but then I've had problems with my teeth over the last few months, and have had to pay out shit loads of cash to get the bloody things sorted out which has battered my disposable income.

SomethingProfound Fri 25-Jan-13 12:43:29

About £50 but that also has to be used for clothing if I need anything. More if I make some tips at work but don't like to count on that as it is not guaranteed. If I do make tips then probably about £90.

But such is the life of a student. grin

less than £200 most months, but increasingly since gas and electric went up closer to £50 sad

Not a lot - we have not had any pay rise or increase for 3 years, but have just had to make do and mend.

I don't think it's helpful at all to know what others have left. Are you a journalist hmm

Define 'essential' for yourself and go from there.

Dh and I have essentials which include charitable giving, small amount in to kids savings etc. Not ESSENTIAL as in life or death but included in the amount we expect to disperse. Anything left after all of that is 'disposable' - but I don't count food in 'Essential' because each month I cut my cloth according to what's left.

If you're doing a budget you MUST include fun stuff if you're to have any chance of keeping to it.

FirstTimeForEverything Fri 25-Jan-13 12:54:28

Message withdrawn at poster's request.

KenLeeeeeee Fri 25-Jan-13 12:54:51

In theory about £800 after bills are paid but before food is bought. It never, ever feels like that though and I seem to be counting pennies constantly throughout the month. Yesterday I made a massive spreadsheet breaking down all the weekly income and outgoings so I can try and stay on top of it. It's not pretty. sad

DontmindifIdo Fri 25-Jan-13 12:58:43

OP - I don't see how this could help you unless you are in the process of working out what sized mortgage/rent you could afford and are trying to work out how much left over you need. If not, do your sums, devide what you have left in 3, for you, your DP/H and savings.

we have close to £3k on most months, some times more depending on DH's overtime.

NearMissAgain Fri 25-Jan-13 12:59:55

I honestly have no idea. Which means I'm very lucky to not have to worry about it.

BridgetBidet Fri 25-Jan-13 13:00:56

After what you've specified including food about £250 a month.

HungryHippo89 Fri 25-Jan-13 13:28:35

I don't mind telling you ....
DP & I bring in just over 2k a month ... (and i don't include our commission we earn because it's never any more that £200/£300 and you can't count on it every month anyways) And maintenance for DSC has already been taken out of DP's wage before he gets it.
About £1000 goes out in rent & bills (before Gas & Electricity as we are on a meter, and food shopping)

And weekly it costs us about £120 to live which includes petrol/food/gas & electricity ... Normally we have just over £100 a week as disposable income ... but that includes anything that we want to do and taking any extras like the dog/cat going to the vets. I do DSC clothes shopping in the next sales ... twice a year (as we only have on a weekend we don't have that much to get)
I also smoke - my cigarette money isn't counted for in essentials because, well - It's not an essential.

Next month with everything going out we have been left with £40 a week as "disposable" income or Fun money as i like to call it ...

Netguru Fri 25-Jan-13 13:37:26

We take savings out at the beginning of the month so spending money is calculated after all you specified and saving too. I see saving as essential so would always budget for some out of 'spare' money. If there is no spare money then no saving obviously.

Husband just left his company today. We have run up a new budget but it still allows for saving. Most important thing to me (and we are very comfortable financially) is still not to waste money. I spent this morning haggling with sky over the broadband charges, regularly check electricity providers and ask the "do I need it" questions when I buy something.

We can't all be equal with money. Bets thing though is to make sure whatever we have goes as far as possible.

redskyatnight Fri 25-Jan-13 13:50:44

The trouble is that even some of the "essentials" can be changed.
We choose to set our thermostat at 16 and have the heating on as little as possible - so our gas bills are comparatively low.

Equally we choose to buy some nice food rather than the most basic things - so our supermarket bill is comparatively low.

The DC both learn instruments and do clubs which cost money - not essentials, but they are important to us and would be down the list of things we'd cut.

If we needed to save money we would cut our supermarket bill. so for the purposes of budgetting we still need to consider it.

On paper we have a lot of disposable income atm but I'm in a temporary job so we have earmarked a lot of it for saving to tide us over after job finishes. So not really disposable.

SoftKittyWarmKitty Fri 25-Jan-13 13:56:21

MSE has a great budgetting tool. If you want to head over there, I'm sure you'll find it really helpful. Undoubtedly more helpful than being nosey asking what random strangers have left each month.

coraltoes Fri 25-Jan-13 14:19:15

My salary minus bills = MY disposable income and not yours... So why would amounts help you budget?!

I agree with netguru re budgetting. If you are planning or have the ability to have savings money I would count potential savings as 'essential' and remove them from your 'spending' money that you are budgetting for.

As a guide (because I think actual figures are out of context, everyone is different), I have 20% of my monthly income left each month as spare cash for clothes, nights out, magazines, hair cut, kids clothes, day trips etc.

In an average month, this gets me; 1 item of clothing, couple of kids clothes or a pair of shoes, 1 night out (dinner/pub/cinema, 1 takeaway.

Chunderella Fri 25-Jan-13 14:30:19

Other people's budgets also aren't necessarily helpful because even the essentials vary so much. For example, some posters might have a uniform for work, whereas you have to spend a lot on your clothes because appearance is important in your job. Or another poster might need to invest X amount in their professional training and accreditation every month, but you don't. You cycle the three miles to work, some posters spend thousands a year on a long train commute. You have to pay for every penny of childcare you use and need to factor in regular fines for being late due to unreliable transport, others get free childcare from their sister who lives on the next street. Gym membership actually is an essential to Poster X's job because she's a model. And so on.

You might be better off posting details of your income and your bare essentials expenditure, then asking for tips about easy ways to cut it.

BackforGood Fri 25-Jan-13 14:33:35

You've had some great replies - particularly NetGuru and RedSkyatNight at the top of this page.
People have such different priorities as to what they would rather spend their money on too.

RebeccaMumsnet England (MNHQ) Fri 25-Jan-13 16:10:44

Hi there,

We have moved this thread over to our Money Matters topic now.

BackforGood Fri 25-Jan-13 16:16:17

We also have 'commitments' which I couldn't describe as 'essential'... like the dcs' music lessons or to pay for them to go on Scout Camps, etc. Obviously if we didn't have as much income as we do, then our lives would carry on - these things are not 'essential' but, as we can afford them, then I think it's great that the dcs have the opportunity, and I would want to ensure they can do these things and would prioritise them over new clothes or a manicure or buying coffees when we are out or replacing our 16yr old car, or whatever. Everyone has different priorities with their money.

COCKadoodledooo Fri 25-Jan-13 16:17:55

None or less than none. Usually the latter.

bbface Fri 25-Jan-13 19:33:27

OP, you are just being nosy!! Nothing wrong with that at all but no need to wrap it up in a ridiculous question about budgeting.

I am a SAHM, DH takes home a fraction over £6k a month.

A lot on paper, however we do not save as much as we should because I am hopeless at grocery shopping, plus preparing for baby number 2, but I reckon on about £500 a month, probably a little less actually because so much expenditure going on atm,

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