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How much does a family really need to live on?

(13 Posts)
ForeverOptimistic Wed 17-Sep-08 18:25:32

Trying to sort out our finances at the moment as our situation is dire!

After paying mortgage/rent how much do you think a family of 3 needs to have left per month to have a reasonable standard of living?

forevercleaning Wed 17-Sep-08 18:30:53

you need to list what it includes

car tax & ins
household bills that sort of thing.

or do you mean just for spends?

compo Wed 17-Sep-08 18:32:50

we need a lot more infrmation than that I'm afraid
like for meals do you eat meat
do you have 0 cars, 1 car, 2 cars

stitch Wed 17-Sep-08 18:34:32

surely the mortgage/rent and council tax are the highest amounts anyways? things like bills, food, and other stuff can all be cut back on.
personally, we find food a big issue. dh simply wont be happy eating beans on toast. so there is no way we would be able to cut right down the way some mnetters manage to do. but, we hardly ever eat out, and dont drink, so no money spent on that. you really do need to make up a proper list of what you spend money on, then look at how it can be reduced

ForeverOptimistic Wed 17-Sep-08 18:37:48

I'm just thinking of an average family. I suspect we are spending more than the average family at the moment and I am just wondering what you feel that you would need as a family after paying housing costs.

Dh spends a huge amount on commuting costs but I am not sure that now is the time to jump ship.

stitch Wed 17-Sep-08 18:57:13

what is an average family?
for example, i think people who spend any money at all on cigarettes are not normal. grin but they probly think the amount i spend on shoes is ridiculous

lazyhen Wed 17-Sep-08 18:58:17

Well I kept a record of everything after BILLS were all paid when I was pregnant. It was just before xmas, and then in January. It included food, petrol (for 1 car), and EVERYTHING else down to peoples leaving collections at work.... sweets... coffees, nights out etc. It worked out at £25 per day. It sounds alot but means we live on about £750 after bills are paid.


lazyhen Wed 17-Sep-08 19:01:00

Should add that as I was pregnant with first child this was for 2 adults (so obvioulsy wasn't paying for childcare).

Childcare is now considered as a bill though so it's still about £750 per month with 8 month old child. It ebbs and flows though.

mollythetortoise Wed 17-Sep-08 21:37:24

after mortgage (which is £1100) we spend:
council tax £142
gas/electric/water £100 in total
BT/tiscali/mobiles x2 £110
insurances (contents/building) £60
DP's insurances (he is SE) £80
petrol/tube fares £150
cars 2 (insurance/mot/servicing)£80
food £450
clothes/shoes (family of 4) approx £100-£200
entertainment/haircuts/takeaways/ frivolous spending (that sort of thing) £100
we also save approx £800 a month (towards DP's tax bill/ child trust funds / ISA)

don't know if we spend a lot or not tbh.. we could cut back on the non essential stuff like takeaways but we might only have one a fortnight anyway.. I love clothes shopping for me and DC's so that could go too but I don't drink or smoke or go out that much so save money there..

is this what you mean?

LoveMyGirls Wed 17-Sep-08 21:42:57


Water 41.28
Gas 60.00
Elec 90.00
H insur 16.12
TV licen 11.75
Land line 11.75
Sky TV & BB 40.00
Loan 256.35
Savings 70.00
Mobiles 50.00
C Card 10.00
C insurance 70.00
Rent 420.00
Council Tax 129.00
Business expenses 50.00
Monthly Total 1,326.25


Shopping 80.00

Petrol 85.00
Spending 80.00
Bread etc 10.00

Weekly Total 255.00


Monthly Total 1,020.00
Grand total £2,346.25

This doesnt really include big bills for the cars (we have 2) or birthdays or christmas

jellyjelly Thu 18-Sep-08 21:03:59

blinking heck love my girls ow much water do you use?

LoveMyGirls Thu 18-Sep-08 21:54:05

Quite a lot I think,
we have 1 bath full and the dishwasher, washing machine and I wash up and cook and have tea too.

GodzillasBumcheek Thu 18-Sep-08 21:56:20

a) depends where you live
b) depends what you can live without

I mean...we all would like sky tv, landline and mobiles, but do we need them?

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