What would you do with this amount of money each month ?

[fogginghell]

What would you do with £2,400 income a month ?

You don't have to buy food, pay bills/ mortgage/rent or do big house improvements (as that's already taken care of) . You do have to buy all your own clothes /stuff and that of your dc.

I would be saving a minimum of £1500 a month from that- and even £250 a week on frivolities seems bloody excessive. I'd budget £150 a week, but aim not to spend it and put all the remaining weekly money in another account, which in theory could be dipped into if big clothing expenses came up- school clothes, etc. and save the £1500 elsewhere.

Save 70 % , donate 2.5% , spend the rest.

Work out how much you’re happy to spend and transfer that into a Monzo account weekly (save the rest separately). If there’s anything left at the end of the week sweep it into a Monzo savings pot (to use on future more expensive weeks) and start again. I started out running out of money by Thursday but now live comfortably within my means.

We put ds through university, no loans. We then used it to pay the mortgage off early.

We paid off all other debts and saved some money. Dh retires in a month at 58.

@fogginghell - for years I cleared about £2,400 - when dh was clearing 10 x as much. I had some pride in funding things like mine and the dc's phone and my car expenses. I didn't have to but I wouldn't have dreamt of holding out my hand in place of a little independence. I earn far more now and dh only earns just over twice as much as me but we are old and everything's paid for. Thankfully dh is a saver too ;).

@OhTheRoses what point are you making in your last post? Sorry I missed it completely.

@SD1978 I like that idea.

If all bills etc are paid, I would easily save at least 1.5K a month, possibly 2 if I can make a food shop stretch and we don't buy many clothes.
I'd dip into savings for holidays and other wants as needed without making too big of a dent.

If bills were taken care of and food then I would split it as follows.
£300 eating out and entertainment
£100 house fund
£100 car fund
£500 holidays and short breaks
£200 clothes, make up, hair and hobbies
£200 gifts and donations
£1000 invest

I don’t know budgeting apps, but you could start off by going over your expenses over the last few months to identify where the money has been going. Based on that, I’d draft up a budget to save a bit here and there. Even if you cut your spending by 20%, that’s hundreds per month.

@fogginghell

OhTheRoseswhat point are you making in your last post? Sorry I missed it completely.

I wouldn't worry about it... I haven't worked in 7 years, I 'live off' my husband entirely. We're both quite happy with that arrangement. Ignore sly digs.

@Shmithecat2 I find it shocking how someone with zero knowledge of our financial histories can contribute with such snide comments. Holding my hand out to my dh she says ... She might consider it 'holding your hand out' but to me , we are a family, a team. Everything I have and everything he has is shared , regardless of the source it's being spent on all of us, together.

Also - and I know I don't have to add this - the majority of his business has been built on my savings. So thanks @OhTheRoses but clearly money doesn't buy sense.