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Does anyone get by on about £2k/month net spending?

(66 Posts)
lljkk Sat 06-Jul-13 21:00:40

Basically, we are spending too much, am wondering what our spending might look like if we reduced it to something rather more sensible!! Anyone willing to share what their avg. monthly spends look like, how much spent in different categories, I mean, especially if it's around the £2k mark?

Thx in Advance.

Featherbag Sat 06-Jul-13 21:09:51

Rent - £575
Gas/Electric - £140
Council Tax - £110
Water - £45
TV Licence - £10 (ish, actually pay quarterly)
Diesel - £300 (car itself and insurance are already deducted from wage via salary sacrifice)
Food - £300
Other travel - £60
Phones - £70
TV/Internet - £45
Entertainment (1 or 2 nights out including babysitter) - £120
Clothes - £40 (average, don't buy every month)
Random sundries (coffees, the odd takeaway, lunch out) - £150

joanofarchitrave Sat 06-Jul-13 21:14:24

Have just spent ages trying to namechange - oh well. Not quite sure what you mean by net spending, so apols if this isn't relevant. Our total net income from all sources is currently about 1800 a month, and the reason we do very well is that our housing costs are low - that's it really and we are bloody lucky.

We spend a total of £400 a month on food and dh and I have £100 each as personal spending. We both do budget quite hard, e.g.monthly meetings with a spreadsheet, and I check my accounts daily against a note of expected spending on my phone (I used to find it easy to assume that cheques had gone through when they hadn't). I also budget for presents and a monthly amount put aside for Christmas, which used to be things that were somehow outside normal spending, as if I really thought the present fairy would pay for them... We also include budgeting for fuel for trips to see family in the holiday budget, in fact at the moment that basically is our holiday budget.

chickensaladagain Sat 06-Jul-13 21:15:41

2k?

I wish

steppemum Sat 06-Jul-13 21:16:41

we have no mortgage/rent, and our monthly income is less than half that.

lljkk Sat 06-Jul-13 21:18:24

Thanks, that's helpful, keep 'em coming. I need to figure out realistically what we should be doing.

oneofthosedays Sat 06-Jul-13 22:17:53

We get just over 2k a month, this is our budget;
Food 350
Spends incl petrol, bday pressies, school trips, kids activities etc 350
Cable/tv/internet incl tv licence 70
Savings for kids 30 x 2
Savings for holiday/car ins/rd tax/vet bills etc 200
Savings for house repairs etc 100
Xmas savings 100
General savings 200
Mortgage 200
Rent 130
Gym/kids swimming lessons etc 45
Gas/elec 80
Life assurance 15
Mobiles 45
Council tax 110
Water 35

I think that's roughly it - we are very lucky to have low mortgage/rent so that we can plug more into the savings.

Bluecarrot Sun 07-Jul-13 10:30:31

What about just looking to reduce spending in all areas ( except mortgage and council taxes etc!)

Use moneysavingexpert and topcashback to get good deals.

DP, DD and I currently live on £325-350 pm excl rent. We could do it for less if we wanted.

It will def drop in sept as gas supplier won't reassess gas dd until a full year is up and we are approx 9 months in credit ( so paying double what we need to ATM) as they initially assess by size of the house rather than by rooms we actually use. Usage will go up from jan though as we have a baby on the way.

LIZS Sun 07-Jul-13 10:38:24

Doesn't it depend what your 2k is net of ie. take home pay and if that is before/after regular bills, rent/mortgage etc ?

ihearsounds Sun 07-Jul-13 11:16:47

Realistically you write everything down. Every bottle of water. Every bar of chocolate.Every single penny spent. Then you see exactly where things are going. Once you have done this, you look more in depth at utilities and if you are over paying and if there are better deals. You look at how much you are paying for insurance and shop around. You look at how much you are spending on credit cards and store cards, and if it would be better to transfer to no interest cards, with the aim of ridding the plastic. You look at other areas of credit and if there are ways of reducing these and getting rid.

You look at the shopping you are buying and how much is being wasted. If wasted then why did you buy it? Next time, regardless of protests, you don't buy it. Meal planning helps a lot to reduce wastage.

How much are you spending on entertainment. Could cutbacks be made there.

Are you a household that likes to keep up with the 'Jones'? If so, stop.

It doesn't matter how much others are spending. Their needs are different - different mortgage/rent payments, property bands for council tax, utilities different because of area, size of property, number of people etc. Food will be different because different requirements. Insurance, differs again location, car, smoking, no claims etc. Yes my outgoings usually exceed 2k a month, but my biggest spend is rent and ct which eats nearly half that.

ChunkyPickle Sun 07-Jul-13 11:31:50

We have to live close to London (because that's where DPs job is) so just our basic, keep a (small) roof over our head (rent, council tax, gas/electricity) outgoings are just about 1700. Food, phones, train ticket, car insurance, petrol etc. which are hard to reduce significantly add on another 400 - and then there's saving for car servicing, dentist etc. so we live on a little more than 2k a month when you add it up.

Rent and council tax are the killers for us, but in order to reduce that we'd have to live further out (we already got a good deal on the rent), and when I did the sums the increase in train ticket swallowed any savings right back up.

WhatWouldBeyonceDo Sun 07-Jul-13 11:42:47

I get just under 2k. But it's only me and DS in the house.

Rent £570
Council tax £104
Gas/elec £60
Water £25
School dinners £40
Food £250
Petrol £80
Car insurance £51
Virgin media £37
Mobile phone £40
Paying off over draft £100
Saving for DS £40
Life insurance £10

That comes to roughly £1400.
What's left gets spent on days outs/birthdays/Xmas/clothes/things for house/ holidays

My travel to work/cash plan/pension is all taken out of my salary

I do need to start saving though

lljkk Sun 07-Jul-13 18:36:30

LIZS: What I mean is how people spend £2k or less if that is indeed about what they spend, even if they have £20k coming in, some might only be living on a budget of £2k (or conversely, spending £2k when they have £1k coming in... which is rather more like us).

We lived on such a tight budget for a while that we wrote everything down, but I can't make myself go back to that, not yet, anyway.

I will post my own numbers later.

CheeseFondueRocks Sun 07-Jul-13 18:47:05

We have about 2k net a month but only need £1300 or thereabouts. DH, me, toddler DD and cat.

louhan Sun 07-Jul-13 18:53:24

Hi

we have just over 2k coming in and we dont have a hard budget as DH
notes that i may spend more on shopping one week and less another and i do stock up on offers which in the long run saves money thats my big tip although at the minute i do have 6 gallons of washing liquid as it was on offer number 7 this week if its still on offer! we dont spend much on ourselfs clothes only when needed but we do manage to have days out and off to florida and a new car by the end of the year
i think our bills are kept low because we have a new build house saves us a packet compared with our friends.

lljkk Sun 07-Jul-13 20:46:44

We are family of 6, 4 DC age 5-13. Per month, after mortgage we spend (roughly)

£681 unspecified (not knowing is real problem no?)
£405 Groceries
£367 Leisure, Holidays, Outings, adults' hobbies (2nd biggest problem)
£255 Cars (ouch)
£185 house improvement
£129 Council Tax
£105 Family birthdays/Xmas
£98 Trainfares (commuting)
£91 DH private pension
£70 Swim lessons
£75 Other Kid clubs
£68 Cats
£41 Landline+Broadband
£52 School clothes (bad year, 2 gone up to secondary)
£36 Kid pocket money
£36 Mobiles
£40 Other Kid clothes, including shoes (must reduce this!?)
£30 Charity giving
£21 Water
£10 Meals out (this excludes loads & loads of cafes & take-aways, though)
£15 DH life & accident insurance
£5 Electricity (solar panels, yeah!, not bought oil this year yet, boo...)

Nuts, I'm going to have to write everything down, aren't I? Leaving out the £681 & leisure spend of £367, nearly all our numbers are similar to most replies or seem reasonable allowing for 4 DC and 3 cats.

Bluecarrot Mon 08-Jul-13 10:14:17

Yup, def need to work out where that £681 goes to! That's a lot of money. Save every receipt and keep a small notebook or make simple note on your phone. Every day, fill it into a spreadsheet or notebook along with dh spending.

Even doing thus will make you cut back as you get so aware of waste!

joanofarchitrave Mon 08-Jul-13 21:54:07

681 is quite a precise amount not to know about...is it just the gap between what you spend and what's coming in?

Sorry to blaspheme, but God almighty, do your cats live on caviar,or do you have 4 of them?? Our dog costs us £38 a month and I thought that was bad enough!

I think if you did without takeaways for a month and bought a thermos flask and a picnic blanket so that you don't pay for cafes, you might find that the £681 is remarkably reduced?

I've found the only way to manage our budget is to take the cash out each week which will cover petrol, food shopping, spending money etc. This is the only area really where we can cut back so we come up with a meal plan before making up the weekly shopping list and also try to shop in Aldi/Lidl as they are much cheaper than the bigger supermarkets and I find the food just as good, in fact for fresh food they're much better. This would help you identify where the £681 goes. Good luck!

pamish Tue 09-Jul-13 14:09:53

sorry but have to use the cliche - first world problems.

pamish Tue 09-Jul-13 14:16:50
OneLittleToddleTerror Tue 09-Jul-13 15:53:42

Is that list for a month? It adds up to £2815! And without mortgage and rent. If you take away the train fare and car (which are essential), it's still £2462 a month. I think definitely write/track every spending.

darlene34 Tue 09-Jul-13 18:55:31

Wish I had 2k a month

lljkk Tue 09-Jul-13 19:51:53

I confess to being a bit pathethic. It was okay when we had that much coming in. I honestly think most of the unexplained cash is just more of the same, spent another £30 last night on school uniform (sigh).

3 cats, all rescues, big expense after food is flea meds, I can't live with cats without the flea control. Then there's jabs, worm control, litter.

LIZS Tue 09-Jul-13 20:12:26

Why are you spending so much a month on new clothes and uniform ! We kitted dd out for much less than that from nothing .

lljkk Wed 10-Jul-13 07:43:38

For secondary, really, LIZS? Blazers alone cost £35. Locket key deposit = £10, etc. I found out belatedly the Friends do 2nd hand uniform, will keep an eye out for future items. Picked up 3 shirts for DS for £3 the other night, though (Bargain presuming DS will wear them). Shoes are the killer, I buy cheap pairs here and there but we all have big wide feet with high insteps so can't get even a half decent fit from most cheap pairs. And DC must have something solid for winter snow.

LIZS Wed 10-Jul-13 08:59:43

But they only need one blazer, even x2 and over 12 months that is only £8 pm. And yes buy 2nd hand for larger ticket and less well used items.

flossiteacake Wed 10-Jul-13 09:16:43

I think saying "first world problem" is a bit patronising to people in the third world! Do you imagine they don't write budgets too? I think most people find spare money (even if later in the month find it wasn't spare!) Ends up being spent on useless crap from Brighton to Bali -that's human nature. Plus you'll notice no one complains about their budget going on tax which pays for a society the third world can only dream of. ax

fuckwittery Wed 10-Jul-13 09:45:23

This was my last month's spending, my aim is to spend £1800 after mortgage to enable savings - this month we have gone over and not saved blush

£576 bills
628.29supermarkets and work lunches
97.35restaurants
169DC activities and toys
93spending on house (bits and pieces needed replacing)
72.85books and dvds (high this month as I bought hypnotherapy book, CDS, and pregnancy exercise CDs)
100car expenses and petrol
75unspecified cash (probably most on cafes and coffees)
45 pregnancy yoga
95new tent (out of the holiday budget)
110hair beauty & treatments (this will cover a few months as I bought 3 x group on deals for massages, reflexology and chiropractic treatment - pregnancy treats)
27presents
28misc
175work expenses (travel)
total
2266.49

2 DC, me, Dh, and clearly am already spending a lot on this bump!!

Will stand with you in having unspecified expenses - our supermarket shopping last month was ridiculous and I can't believe it is all on food! DH was buying quite a lot of wine, beer and cigarettes in the first part of the month and I didn't menu plan so we were eating out and buying food top ups every couple of days but aiming to really cut down this month, no alcohol or cigarettes for a start! I have an awful tendency to pop in every day for a treat for few and DH for wine. I haven't been able to break down the spends any more as added up from bank and credit card statements, but this month am trying to write down everything we spend particularly in supermarkets, and will meal plan, try and shop for the week and only buy what I went in for!! Will let you know how I get on - suggest meal planning and writing it all down is the best way OR withdrawing the cash for the extras every week and never spending more than that. We used to have the cash to spend this without thinking but it's a stupid way to live, as it could be paying off our mortgage early.

OneLittleToddleTerror Wed 10-Jul-13 11:07:12

Um, maybe it's because you aren't spreading the cost of uniforms over 12 months. Like LIZS says? Of course it would sound horrendous when the big bills come in.

mercibucket Wed 10-Jul-13 11:26:34

v impressed with anyone who can write down all their expenses in detail

can you try a month of cash only to make you feel like it's 'real money'?

lljkk Wed 10-Jul-13 19:50:48

took bloody hours to work it all out, Merci.

hmmm... bit late for me to start a thread about uniform costs. Would be very interested if anyone else wants to get that going!

Sparklyboots Wed 10-Jul-13 20:05:56

First world problem - that's where everyone here lives, so it's sort of inevitable confused

JessMcL Sun 14-Jul-13 02:28:36

I don't understand why people would choose to be judgemental/sarcastic about other peoples money. Some people work damn hard for what they have, some people have better jobs because (I dont mean to be horrible here) they made better choices earlier on in life and therefore got better jobs.

No doubt I will get shot for this...but there have been times (last year included when DH was made redundant) when we have lived on a shoe string

Mortgage: £2000
Food: £500 (3 adults, 3 children, 2 dogs, 2 cats and a rabbit)
Gas/electricity: £150
Council tax: £210
Phone/Broadband: £30
Aupair: £300
Cleaner: £160
Park savings for Xmas: £225
Childrens clothes: £225
Holiday savings: £200
Car savings: £200
We have (roughly) 1k a month each to spend- car insurance, petrol, trips out (we take it in turns to pay), nights out with friends, dates (again we take it in turns), clothes, golf, gym membership and personal savings.

itsonlysubterfuge Tue 16-Jul-13 22:03:04

We pay most of our big expenses in one go, but dividing it out it's roughly this. We never go out and don't buy smokes/alcohol. We do spend a lot on food though.

£450 rent
£600 groceries
£20 landline
£15 internet
£25 council tax
£133 gas/eletricity
£130 car (this includes petrol, services and insurance)
£33 water
£17 content's insurance
£20 or so on entertainment (buying new books, games, etc.)

ChickenLickenSticken Tue 16-Jul-13 22:17:39

We put a total of £2k in the joint account each month to cover:

Mortgage £1200
Gas / electric £200
Nursery £105
Council tax £110
Phone/Internet £20
Water & sewerage £45
Petrol £50
Food shopping £250

I salary sacrifice the rest of DD's nursery fees, then we DH and I both have £400 each for spending (mobiles, gym, haircuts, clothes, lunches, DD treats etc) plus we save a chunk too.

Apples7 Wed 17-Jul-13 00:19:33

2k a month:0
Wow!
405 on groceries dont think so! Go to iceland farmfoods (supermarket own brand etc!) lidl aldi
367 on hobbies! Hobbies arent essential therefore you shouldnt do them! Unless after totaling up a moth of spending & realising ok i have 400 left so 200 wil go to saving 200 for hobbies!
185 house improvements like decoratating rooms to suit someone dont think so... If its not broken dont fix it if the rooms not looking horrible dont change it
70 on swim lessons im sorry but go out as a family one day & teach them yourself
75 other kids clubs kids can socailize at parks at school etc dont need clubs for excersize eithe they can go a jog
52 on kids uniforn go to primark!
36 on pocket money i never had a pocket money in my life it teaches you to be more grateful when given money!
30 on charity give for puddleducks sake! Your spending far too much the first charity is home!

Sorry for rant but your spending is shocking!
You need to write they amount coming in add up all of this then take it away from the amount u get in see what number it is if its is a negative number you have serisous isues! Positive number slightly better but stil need to cut back on non esetialis like things i have mentioned above!

I am commenting as a rogue here - my income is barely £300 a month. But my daughter lived a while in similar sense to you, and my suggestions are based on what I suggested to her (to little / no avail, I might add)

Firstly, much praise for writing down the figures in the first place, you have starting point and can maybe compare with next month ? Can any of your DC kick it into Excel for you and produce a graph ?
Wow, you spend £12,000 a year on birthdays and Christmas ? That seems a lot to me, but I am Scrooge and send handmade cards.

Take-aways come to more than you might think, and an awful lot of your mysterious £681. Have a look at the 2 dine for £10 in M&S or Tesco, and scale up for your numbers. Unless each takeaway already costs less than £30.

You've said to reduce your spend on kids clothing inc shoes from £40 a month. £40 is very reasonable for 4 DC. Similarly running 2 cars for £255 sounds ok.

VivaLeBeaver Wed 17-Jul-13 07:15:54

£240 a month mortgage
£400 a month food approx
£80 a month petrol
£25 a month house insurance
£110 a month council tax
£98 a month gas and electricity
£48 a month water
Tv licence......? £12 a month?
£40 a month life insurance policy thing
£25. A month car insurance
£28 a month mobile phone
Then however much he broadband, cable tv, line rental is .....maybe £40 a month.

£405 on groceries is ok - for 6 people.
I spend £15 a week for 1 person + 1 cat, multiply that up and its £90 for 6 a week.
But not if your groceries are for 6 people for 1 day and the other 6 days you're eating out. wink

IWipeArses Wed 17-Jul-13 08:35:22

Apples, why should she cut back if her budget left her with excess? There's no virtue in being tight for the sake of it.

OP, apart from tracking all your miscellaneous and adult hobby spends closely, I'd suggest cutting back on birthday and christmas spending where possible. children do not need a lot of stuff. Perhaps include their hobbies as gifts eg. new tap shoes as a christmas pressie.

What sort of house improvements are you doing?

I can't see any sort of potential spending that you don't have something down for, perhaps think about whether you have a spending problem? I've had to fight that urge to part with cash at all costs at times in the past.

£36 pocket money for 4 DC a month?
That's £9 each, barely £2 a week.
You're buying a lot for them - hobbies, clubs etc - but that's not teaching the older one's to manage their money. You're giving them a luxurious lifestyle without them having to think about budgeting. Ring any bells?

lljkk Wed 17-Jul-13 20:36:31

Neah, I honestly don't think I've a spending problem except that we got in the habit of saying yes to most things without thinking. I am naturally anorexic with money, took me a long time to learn to spend it.

There is some double counting in my figures, like some of the leisure category is actually commuting to work I just don't know how much.

I think I went overboard letting DD actually have new items for uniform this year, although (on the other thread) my spend is actually pretty typical, not outlandish. ( Two blazers? Are you mad? ) Think you lot will be shocked when I get around to reporting next update on the cash figures. I'm not cutting some things like swimming. I will dig into savings if I have to, for that. Swim lessons are only £1 more than me taking them, by the way!!

House Improvement: DH knocked thru a room this year hmm. Lintel & workman & electrician (DH did own plastering & joinery though). The carpets are knackered but I have shelved plans to do anything about them until we're rich again. wink

Thanks for numbers, it is helping me figure a lot out.

CogitoErgoSometimes Fri 19-Jul-13 12:20:25

It's a good start having a list of where your money goes. I'd suggest that your top priority is working out that unassigned amount... that's going to be where you stand to gain the most.

Second step, go through all Direct Debits coming out of any of your accounts and work out are they essential or non-essential. If non-essential, cancel whatever it is they're paying for. If essential then spend an afternoon on comparison sites seeing if you can get the same goods or services cheaper.

Third step is to tackle the irregular outgoings, the cash withdrawals, the groceries, the petrol consumption, clothes purchases. Because they're ad hoc these can quickly spiral if you don't set yourself a limit.

My income's higher but roughly speaking
£1000 - mortgage
£500 - fixed outgoings such as utilities, insurance, council tax, etc
£300 - supermarket
£150 - cash withdrawals
£400+ - incidentals (days out, clothes purchases, gifts, house repairs, hobbies etc)
The rest goes into various savings for big ticket items like holidays, replacement appliances, Christmas presents

lljkk Fri 19-Jul-13 13:21:35

I should so like to see Apples & Wobbly put down their own numbers.

I do love your numbers, JessMcL. smile

Rent 550
Council tax 120
Contents insurance 10
Utilities 150
Home phone 14
Internet 10.50
Tv licence 18
Gardener 21 (2 weekly)
Phone card to call family abroad 5 (2 weekly)
Contract phone 18
Groceries 70
Lunch at work 10
Children's clothes 30
Adults clothes 40
Hairdressers 50 (quarterly)
Loan repayment 20
Credit card 30
Savings for DS 20
Nappies 20
Pet food, insurance 18
Petrol 120
Car insurance 33
Car expenses 30
Days out 40
Birthdays 20
Toiletries 10

This leaves around £300 from total income of just over £2100.

Groceries figure is per week sorry. So 280 every 4 weeks

HerBigChance Sun 21-Jul-13 11:05:25

Envelope budgeting software is very good for keeping an eye in what is spent in different categories. It's the electronic equivalent of keeping your money in different envelopes for different things:

https://www.eebacanhelp.com

MortifiedAdams Sun 21-Jul-13 11:11:44

2k income

450 mortgage
100 media - internet, tv, two.mobiles
200 car repayments
300 food
100 gas and electric
30 uni loan
200 childcare
100 water, council tax and tv license
60 petrol
60 rail pass
20 car tax and rac

We then each take 50 on a friday for spends.
Anything left rolls over to next month.

MortifiedAdams Sun 21-Jul-13 11:12:50

Sorry, 2.3k income

piratecat Sun 21-Jul-13 11:22:27

the only thing that has worked dot me is to add up all the direct debits. i live on much less income than you but i have now begun taking out the cash i can afford every Monday and try to stick to it.
whatever your budget using your card here and there makes for a huge amount that you don't keep an eye on.

its simple to put an amount in a tin each week and does help overall.

Key is def to write EVERYTHING down. I use the Pocketmoney app on my phone which is brilliant. I can tell you out exact figures because I keep a spreadsheet blush This is me, DH and DD.

Income-(DH) £1777.11
Child benefit £81.20

Outgoings-
Mortgage £738.79 (this includes a £123.12 overpayment which is the max we're allowe to do at the mo)
Mobile bills £70 (these will go down once our contracts are up as we're switching to GiffGaff)
Life Insurance £56.75 (two policies plus mortgage ins)
Dentist £6.99
BT £20
Action Aid £15
Groceries £180 (yes, I shop at Aldi)
Council Tax £94
Cleaner £60 (am aware this could be seen as grossly wasteful given our limited income but it saves my sanity and is therefore worth it!)
Fun £210
Yearly Outgoings £406.78

Yearly Outgoings goes into a separate account from which we pay the things that come up throughout the year but aren't regular. Budgeted like so:

Petrol £650
MOT and service £600
Car Tax £135
Breakdown cover £95 (though am switching to Green flag this year)
Car Ins £270
Home Ins £160
Public Liability Ins £60 (do occasional tutoring work and like to have it as tutees come to my house)
Elec £600 (we pay exact bills quarterly, not a DD-same for gas)
Gas £600
Water £260
BT Line Rental £129
Skype £47 (so we can call family in US and not have to pay BT for it)
Union membership £32 (I'm ordinarily a teacher and am keeping this going)
Presents £300
Clothes £300
DD's clothes and shoes £300
Holiday £300 (not abroad obviously!)

Some of these figures are subject to change and we look at the bidet regularly to make sure we're sticking to it. Everything in the yearly outgoings list gets a list of its own so we know how much of the allocated budget we've used/got left. I grossly underestimated our petrol expense at the start of the year so that had to go up and other things got shifted around.

Oh and yes, take out fun money and grocery money in cash at the start of the month, seperate the grocery money into weeks and take only that cash with you to the supermarket.

lljkk Mon 22-Jul-13 17:17:04

thx for all replies, including Applepie's numbers.
I averaged all the numbers other people gave (excluding Jess, think she's out of my target budget, smile ), and my numbers are about the same & lower for most categories. I didn't expect that. I had to guess how many people you guys were feeding, though, to make that comparison sensible (I assumed 4 if not stated).

The biggest difference I can find so far is in school clubs, apparently almost no one else gives to charity, has kids who did any activities (or who get pocket money). Also commuting (for teens to school). Running 2 cars also hits us hard (but one car is nearly worthless, so...)

Babies are cheap but big kids & teenagers drain you dry. At least driving lessons are nowhere near the horizon.

lljkk Mon 22-Jul-13 17:23:21

*sorry clubs for school age kids, I meant, not exactly school clubs.

Gawd, this thread is just making me realise why we're so poor. Our mortgage is a lot more than most. I guess that's what comes from buying in the current climate. sad

Well we do give to charity but don't have school age children so yes, no clubs.

Also, when I wrote 'bidet' in an earlier post, I meant 'budget'!

£108 Mortgage
£57 Council tax
£13 House & contents insurance
£90 Electric
£44 Water
£19 Landline phone
£13 Internet
£20 Mobile phone
£65 Groceries
£15 loan repayments
£15 bank fee, includes phone insurance
£14 bus
£5 Meals out

Mortgage & Coucil tax is paid by my DD living with me, making my expenditure ~£310 monthly.

'meals out' = an ice cream in McDonald's with my grandson.
Now u see why I send handmade cards sad

Tasmania Tue 13-Aug-13 16:49:53

I've been thinking about this a lot as ours is getting out of hand (we are spending more than 2k!!!). Currently, we have this for *monthly outgoings*:

EXPENDITURE
Rent: £825
Bills: (utlities/phone/internet/tv/mobile) & Council tax: £410
Insurance (cars/life/income/pet/house): £165
Loans (to be over and done with next year!): £240
Credit cards (overpayment to pay it off): £230
Transport: £350
Groceries: £450
Food at work, etc.: £200
Going out (meals): £100
Takeaways / Pizza: £80
Horse on livery: £200
Gym: £32
Holiday fund (to make sure we can go - will likely spend more): £190
Miscellaneous: £200

SAVINGS
Stock & Shares ISA: £225

Whatever is left over stays in the current account or gets moved to a regular ISA.

BMW6 Fri 16-Aug-13 10:37:24

I keep a monthly spreadsheet of income & expenditure - here's Aprils

Income 2058.85

Mortgage 599.72
B & C Insurance (15th)14.25
2 x Life Insurance 52.78
Food 335.14
Water Rates 18.80
Gas 94.97
Electric 30.51
Council Tax 112.55
Sky 48.33
TV Licence 14.55
Credit Card 95.57
Petrol 20.01

Total 1491.11

equinox Sun 18-Aug-13 17:00:43

I find that if you spend using cash only and don't use debit cards then that way you see how quickly it all goes and on top of that keep all online shopping to a minimum (gets very tempting)!

equinox Sun 18-Aug-13 17:02:57

Is anybody putting haircut expenses down or are we all hippies lol.

emma16 Sun 18-Aug-13 20:32:51

Income; £3639
Outgoings;
Mortgage: £495
Council Tax: £109
Gas & Electric: £94
Food: £300
Tv Licence: £12
Water: £58
Mobiles: £32
2 x Car Insurance: £67
Mortgage Insurance: £11 (hubby gets full pay for 6months if on the sick but this insurance kicks in on the 7th month to cover our mortgage)
Life & Critical Illness Cover: £23
Sky: £90 (urgh)
Christmas Savings: £80
2 x Car's on Finance: £500
Savings: £400

Total £2271
Left over £1368

I'm fully aware from reading previous posts that some people will be totally shocked at how much we spend on cars & the nasty sky bill but that's down to my hubby. His thoughts are that he works damn hard & long hours for his money so if he wants a new car at £400 a month to get him to & from work that he loves, and doesn't have to spend his days off fixing old second hand cars that constantly need work doing on them, then so be it!!
We are very careful with our money otherwise, we hardly ever go out for meals as we genuinely enjoy being at home, we take the kids out for walks/adventures at weekends for free, neither of us smoke, i dont drink & he goes out to the pub probably twice a month. Me & my friends meet up at each others houses & take it in turns to cook a meal etc.
Even though i've wrote our details it never fails to amaze me how quick some others are to jump on other peoples finances. Everyone's different, just because one person likes to write absolutely everything down doesnt mean everyone has to be like that. I used to be obsessed with being tight, then early this year my mother in law at 59 was perfectly fit & happy found out she had lung & bone cancer. 13 weeks & 6 days after diagnosis, she took her last breath. It was a huge huge wake up call to us, after going through that time nursing her & what happened made us realise you do have to live for today. Yes you've got to be sensible with money & dont get yourself into debt, but apart from not having a silly mortgage, a good pension put away, no debt, putting into savings, bloody well enjoy your hard earnt whilst your here!!! There's no point being the richest man in the graveyard & you certainly can't take it with you!

Zigster Mon 19-Aug-13 13:57:05

emma16

I suspect most people are actually pretty naive about how much cars really cost to run. Depreciation, lost interest on the savings used to buy/interest on a loan, insurance, VED, servicing, tyres, washing, ... petrol.

An earlier post said £200 pm towards car savings (presumably that meant for a new car in the future). That's £12k over 5 years which isn't a lot, particularly if you need more than one car.

emma16 Mon 19-Aug-13 18:01:13

Hi Zigster, I know, my family winced when i told them how much we pay but we do need two cars & after years of having second hand one's etc constantly breaking down etc we'd had enough.
Luckily we are fortunate to be able to afford them but when i was hesitant in signing up for mine, my hubby said fine we won't do this & instead we'll take a loan out for £4k & have to repay that at however much each month for how many years, along with paying breakdown each month, car tax, m.o.t's whilst grimacing hoping it scrapes through, all the parts that are bought when stuff breaks all the time, the day's off wasted fixing the car or paying a garage to do it, less fuel efficient car blah blah, and be left with a car worth nothing & start the whole process all over again...or you can sign up for a new car & have one payment & hassle free motoring. I wrote down the car sum wrong, his is £399 a month & mine is a happy £150 a month which we did get on a cracking offer. We would have been paying more in a loan for mine & have a second hand car!

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