What percentage of your monthly household income goes straight out on direct debits?

[FriedaTheBreeder]

Last night I was going through all the regular payments that go out of our account. I realised that 70% of our monthly income leaves our account on these payments leaving only 30% for food, outing, clothes, holidays etc. Does that seem an unusually high percentage?

Our direct debits go far beyond just mortgage, council tax and utilities. THey include school lunches, childcare, many after school clubs and lessons, gym membership, charitable donations, pet insurance, sky tv. But still. It’s pretty depressing to see it all zoom out of the account on the first of the month.

I'd say ours is a good 60% .. I think that's the norm to be honest

About 55%, But no children

Ours is about 50% but includes savings for DC and us. We don't have a mortgage. The question doesn't give a true idea of lifestyle as gym membership, music lessons etc are completely optional

It depends what the income is, too, as to whether 70% is too high - clearly if your income is £1000 then it's a struggle to afford food, petrol etc on £300 but if your income is £5000 then £1500 is loads!

We don’t save at all. In fact we go slightly more into debt most months.

I know much of what I have listed is optional but it’s also important to us. Our kids really enjoy their music lessons and their sports clubs and I want to support those interests as it helps set them up for life. The gym membership is extortionate but I have a spinal injury and exercise is key to dealing with that. It’s really hard to see where to make savings! Interesting that our percentage is slightly higher than most.

Just worked it out as 52%

Why am I always so skint then 😢

I am useless with percentages (hence min wage job) but all my wages go out on rent and council tax so I live off my tax credits which after the other bills works at £100 a week for food, school trips, clothes and anything else. I just keep telling myself my three wont be young forever and things will get better.

About 1/3 of our household income. Including direct debit for various memberships. But not kids activities as we have "pay as you go" type clubs.

About 15%.
But we own the house and pay for house/contents/car insurance in full.

I've read an interesting thing that said ideally (ideally!) the financial split should be 50% of your combined salary on "needs", 30% on "wants" and 20% "saved".

So house and utilities is a need. But sky and phones is a want. Children's clubs would be a want - important to you, but not a need. Food would be a need, etc.

It was an interesting way of looking at it for us. Somethings that I've always considered a "bill" and therefore a "need", are definitely just "wants".

I’ve just managed to switch utilities and save £40 a month but it barely makes a dent in the outgoings. Our mortgage is huge.

The childcare and childrens’ school lunches, their afterschool clubs and all the childcare amounts to 90% of my after tax salary and I earn a good salary! Luckily DH’s salary is there for the mortgage, utilities, gym, tax, insurance etc.

About 30% but our mortgage was paid off about ten years ago and only one teen DS still at home.

This is a cutting your cloth exercise but it sounds like you don’t want to make changes to what you spend your money actually on. The only suggestion I can make is negotiate and look around for all your utility bills and haggle on your insurances and anything else. I use a comparison site and then use that info to negotiate with who I want to insure with, I got a further 10% off the web price doing this. I got money off my mobile contract and my tv package, I even get discounts in John Lewis on occasion. I used to help negotiate the pay deal for a few thousand people though so I’m not scared to ask. I got a free pot worth about £20 when buying plants last year, my friend who was with me was astounded and asked what the hell happened there? :)

I budget using the 50/30/20 split, works quite well, although the 20 is usually for things like stuff for the house rather than savings.

90%!!!! Childcare and bills. No savings

Probably 80% as I can only work part time due to a chronic condition and I would be the higher wage earner. We save what we can though, even if it is just rounding things up to £1 and putting extra in the savings account. Our situation should improve shortly though due to a pending inheritance so we are lucky really