After absolutely everything, how much disposable income left?

[youreonmylastnerve]

I am hoping to move in the next 6 months or so, and this will likely see my mortgage double and council tax increase.

I have estimated that once I pay off some small credit card/OD debt before moving, my total outgoings will be approximately £1200, and I'll have about £600 disposable income left over. I have one teenage DC, which are expensive in themselves!

Now, that sounds a reasonable amount to me, but I know I've not had that amount to spare each month until now, and there will always be MOT bills, birthdays, house repairs to factor in.

Just wonder if it others think that's a safe amount or should I be budgeting for a smaller mortgage?

Thanks.

After bills about £1350. We put. £400 in cash in an envelope this is £100 a week for food for three of us. I let us have £100 a week for spending. Petrol is what ever it is.

We put money each month away for Xmas, car, my sons activities and general. I also have a holiday fund that I shove money in every month.

Some months the £100 a week is a bit more. So it comes out of savings. But I tend to keep it in there so I don’t just spend it.

Does that 600 have to cover food?

Meant to add I think it depends on what you want to do with the money. If u want to save it. Or u have petrol to cover. Car costs to save for. Etc etc.

Honestly though how long is a peice of string? How many birthdays do you buy for? What specialist foods do you need etc?
For me i would struggle but survivable.

The £1200 I quoted covers everything - food, car costs, dc pocket money/lunch money etc.

I would try and save some of the £600 where possible and my salary will increase a little each year over the next few, although so will some costs, I know.

No specialist foods.

For me it’s bit tight. Is that after or before food??

We don’t have a mortgage anymore, and don’t have council tax in Ireland either. So we have about 2k left after all outgoings but I understand this is a completely different position from most people....but we also don’t have a tv or tv license. (Our choice) we also don’t have water bills in ireland.

I’d count up how much the other things cost and try to save that pm so you have an emergency fund
I save for Christmas/ car insurance/ aa / birthdays etc per month.

About £3000 after all bills & expenses but that doesn't include food/clothes.

This is after food. And car insurance.

I do plan on putting any travelling expenses away each month from now on to use that for my MOT, car repairs in future. And I save £25 a month in a credit union towards Xmas, so I'll be continuing that.

I have less than £600 a month left and that has to include food and petrol and there are four of us. It’s hard, really really hard.

That should be OK - it’s about what we have. Just keep your teen away from the shops!

Thanks @Geraniumpink That will be the hardest bit! He gets decent pocket money between me and his dad, so he is going to have to learn to budget that better too.

I have sent you a DM Op. I an in the same position and would like some insight please .