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Original poster

A grand a month- reasonable?

190 replies

NellieBee · 18/08/2018 08:34

Hi MNers,

We've made a plan with our finances which, for the next 2 years, will leave us with exactly £1,000 a month leftover. (This is after following all advice on here to get utilities cheapest they can be, etc).

Can we cope on this? I know families manage on less but I am feeling quite anxious about it.

We are a family of 4.

It will need to cover:

-All food
-School lunches
-Petrol (this is about 2-300 a month)
-Clothes
-Birthdays
-Christmas
-Pets (guinea pigs and cats)
-After school clubs
-Any extras

All advice appreciated, thank you.

OP posts:
Original poster
NellieBee · 18/08/2018 09:54

Thanks for all the replies, I'm trying to answer everyone and appreciate all the opinions and tips!

We each have a car, our petrol costs are non negotiable. I take one DC to school, then go to my own school to work in one direction. OH takes the other DC to school in other direction then goes to work- he works in schools all over our county. We both have cars through our County's scheme (tax and insurance included in one monthly price which we are happy with).

I can't work in the holidays as I have the DC. OH works year round, not term time.

We are used to having double this so it's going to be a big shock to our systems.

But eyes on the prize- we will be debt free in just over two years.

OP posts:
Jenasaurus · 18/08/2018 09:55

The other side of the coin is to increase your income, babysitting, ironing service, bar work. I joined a focus group and got paid £60 - £100 in cash for attending a hotel opinion group. You enrol and they ask you to attend typically an evening after work, they even provide food and you leave with an envelope of cash. The ones I attended wanted opinions on pension advertising and mobile phones, but there are loads and once you have done one they ask you to attend others, a retired couple earnt an extra £200 a month on top of their pension this way.

When you buy clothes for your children, remember to sell the ones they have outgrown, I would use the Facebook Marketplace or gumtree as unlike Ebay they don't charge fees and often the buyer collects so no postage too

sickmumma · 18/08/2018 09:56

Honestly I don't think that's doable tbh! That's how much we have leftover a month after paying food and petrol so just need it for savings, gifts and any activities (excluding clubs) and I find it's quite tight some weeks if there is a lot going on. (Try and save at least half).

For us food is £400 a month minimum, clubs £200, petrol about £200 so that would leave £200 for everything else! Perhaps doable but very very tight!

Interested in this thread?

Then you might like threads about this subject:

General money
katielouise3 · 18/08/2018 10:00

Sounds OK, but I agree that is a lot of petrol.

Jenasaurus · 18/08/2018 10:00

One other thing on presents and I know this is sometimes frowned upon but why not make it a rule to only buy for the children in the family, you and DH are going to be happier with less debt rather than a present or your presents could be in the form of doing nice things for each other, gift token to give a massage, breakfast in bed or other things...you could also re-gift unwanted presents or make homemade presents I once received a basket (second hand) filled with home made treats for Christmas and I loved it, it was thoughtful and didn't cost a lot compared with a shop bought hamper of goodies.

BarbaraofSevillle · 18/08/2018 10:00

Have you got all your debt on interest free credit cards, or interest reduced/frozen in some other way?

Yes, it will be a big shock, but it could also be a revelation. You will learn to budget, learn to find enjoyment from cheaper activities etc, and think about how you spend your money instead of frittering it on stuff that you don't always enjoy that much. When the debt is gone, you'll have a big boost in income, will hopefully get some savings behind you, and will be financially comfortable, all being well. Is your DH on board with the plan too?

specialsubject · 18/08/2018 10:01

declare an adult birhday and tatmas ceasefire now. that means nothing - saves money, time and waste.

Jenasaurus · 18/08/2018 10:02

If you are both teachers what about offering tuition after school to earn extra

BarbaraofSevillle · 18/08/2018 10:03

Definitely don't buy presents for adults at Christmas/birthdays. When you look at what you receive, it's almost always totally pointless, overpriced tat that no-one would buy for themselves.

Maybe just exchange token bottles of wine/boxes of chocolates if you can't face doing nothing. But really, most adults would rather not bother.

Jenasaurus · 18/08/2018 10:03

also, if you cant work holidays as you are looking after the DC what about offering your services to others who need childcare at that time and get paid for being at home with your own at the same time.

MingeUterusMingeMingeYoni · 18/08/2018 10:04

It's potentially doable. However, if you're trying to get debt free but any big expenses would have to go on the credit card under this plan, wouldn't it be more sensible to give yourselves a bit more so you can have a cushion and take 3 years instead? Ie £1100 a month but £100 of that into savings or whatever.

I'm reminded of Martin Lewis from MSE. He says yes pay down debt, but first establish a small cushion because not having one is how you end up paying through the nose when things go a bit wrong.

JourneyToThePlacentaOfTheEarth · 18/08/2018 10:05

Hi op. I recently calculated that we have £957 after bills. This is for food, petrol and extras. Food and petrol comes to £600pm which leaves us with £357 for things like going out, take away, clothes, gifts, holidays etc For a family of 5 this really isn't doable i think. If i receive csa from exh as ordered by the csa then we could manage. But since i don't want to be dependant on that, I've started job hunting for a promotion at work.

Jenasaurus · 18/08/2018 10:08

Another suggestion about Christmas presents, each year you probably both need a coat or winter shoes etc, these would come out of your clothing budget anyway but why not buy for the other one there winter coat etc and wrap for Christmas, then you have crossed off 2 things while only paying once...a gift and clothes

Christmas for small children is cheaper than teenagers though as they tend to want more expensive presents, not that they should get them but young children are happy with something much less expensive.

DeadDoorpost · 18/08/2018 10:08

My parents buy for Christmas throughout the year. With 8 kids they need to! We do the same.. food shopping for Christmas starts in September and make a list of what we want/need and then get one or two items every week when we go shopping.

FruitOnAPlatter · 18/08/2018 10:09

These questions always bring out loads of posters insisting on why public transport is impossible for them, whereas in fact it is perfectly possible for most, although not all people, to look at this alternative.

ROFL - I grew up in a village with excellent transport links compared to the villages around me. My trip to school started at 8am, and I arrived about 10 past 9. That same trip can be done in a car in 15 minutes.

So yes, it might be possible on public transport, but work are going to get a touch annoyed that where he once could have attended 4 meetings a day, now he'll only manage one, and of course he'll be late to pick up the kids from school now, as his commute home, which once took 15 mins, now takes an hour...

viccat · 18/08/2018 10:09

Just to add what's already been covered - as you mention cats, do you have pet insurance for them? In your situation £20-30 a month for insurance might be better than an unexpected £2,000 bill in an emergency...

Original poster
NellieBee · 18/08/2018 10:13

Yes we've got pet insurance. This grand is for everything else, not bills.

OP posts:
BarbaraofSevillle · 18/08/2018 10:14

Neither the OP or her DH may be able to give up their cars anyway. I also have a public sector 'company' car. I have to pay towards it every month and if I left my job or otherwise gave it up, I'd have to pay at least a year's worth of full lease fees, which would be thousands.

I do get my work mileage paid though. I know Local Authorities have had their budgets massively tightened, but it's very wrong that employees don't get their work fuel reimbursed. Sad

Biologifemini · 18/08/2018 10:16

Get rid of the animals
Sorry
Looks doable

Clairetree1 · 18/08/2018 10:19

don't get rid of the animals

they are a responsibility you undertook. and they are life enhancing for DC

don't get any more though!

Busybeez123 · 18/08/2018 10:21

Tight but doable. I would suggest before you start tackling your debts put £1000 in an emergency fund. I guarantee if you don’t some emergency will happen (washing machine will go) and as others say you can’t get out of debt if your emergency plan is to put on credit card.

Also sell stuff. Have a look round see what you can put on EBay, car boot - this will help with emergency fund.

thebear1 · 18/08/2018 10:21

I think the op knows if she can reduce her petrol costs or not, sometimes it is not possible or life will be harder for a small saving. We are a family of 4 and usually live on about £1300 a month after all bills. Some months that feels tight.

Clairetree1 · 18/08/2018 10:24

I think the op knows if she can reduce her petrol costs or not, sometimes it is not possible or life will be harder for a small saving.

maybe, you could be right, but it is worth suggesting, because so much car use is just done in a totally unthinking way, when it is not necessary at all.

I do very much doubt this family needs TWO cars!Grin

BasicSAHM · 18/08/2018 10:25

If you stay committed and keep your eyes on the prize you’ll be able to make it work! The budget someone posted earlier is a good start. If you haven’t already go back a few months and add up what you have typically spent in each catergory. That will hopefully give you a better idea of how you are spending in each category to plan your budget. Good luck on your goals and being debt free is a wonderful feeling!

scrumplepaper · 18/08/2018 10:27

Claire they travel two different ways to work, dropping kids off on the way and one of them needs the car during the day for work purposes.

How would you propose, for example, that I would have done this without a car in my previous role?