Disposable income

[IwishIdidntlikesugar]

After rent or mortgage, gas, electric, water, council tax, mobile phone and home broadband, do you think £1000 approx is ok for an adult and a teenager to live on each month? No car or travel to work costs needed. Thank you.

So for food and luxuries? Absolutely tonnes. Should be able to save a decent amount of that too.

Sounds ok to me. If that's what you've got, that's what you have to live within.

Yeah I think that’s just about fine. Food around £300-400 a month (if you include absolutely everything and household products). 600 remaining. £75 a week each. I’d like to think it would be more than enough but honestly don’t think it’s ‘loads’ in todays world. Even a Primark jumper costs £40 nowadays.

I’m heartened to hear these replies. Im not sure it would be classed as tonnes or that there’s anything much for luxuries but its for food, clothes, bus and train, opticians, dentist, presents, union fees. I always feel like its a break even situation. How much of it do your imagine would be able to go towards savings?

@IwishIdidntlikesugar I don't think you will be saving much - maybe £75 a month regular but very doable if you don't want regular holidays, loads of meals out etc

I'm living with less than that this month and I'm an adult and 2 primary aged kids, it's tight but doable. I realise teenagers are more expensive though

Thank you everyone

That's loads, yes.

I think you'll be fine on that. In terms of savings, it'll depend on your holiday expectations, child extracurriculars and nature (how materialistic are you/DC?) If you want the latest phone, holiday abroad and DC does lots outside of school, I'd still be looking to save 100 a month minimum.

If you are camping every other year, have fairly low key phones and buy off Vinted etc, you could aim to save 250 I'd expect.

It would be ok if you didn't have any emergencies but if that needs to cover those as well as clothes, holidays, gifts etc it would be tight, unless you have a separate fund for those.

Yes totally. I'd set a budget for each of the items you mention and monitor for a few months.

That’s what we have. But it includes travel to work and we are 2 adults, 2 teenagers and 2 pre teens. It’s doable for us (no savings though!) so I’d imagine quite comfortable for you two, even if you save £300

Thank you all for the further replies. Im a bit bemused at people saying its loads though. Yes, it has to include everything from food to emergencies and presents/holidays/other things. I don’t really manage to go on holiday and i am already frugal in what is spent on broadband, phones and utilities for example. I am quite low maintenance in general but sometimes I wish I could splurge or just do more recreational activities other than walking miles and going to free museums etc. Im also sorry to anyone in the same situation!

I take disposable income to mean funds remaining after all non negotiables are paid, including food, monthly fees, any required travel for work/school/appointments or any required medical cost such as dentist or optician albeit you surely aren't going to those monthly.

Essentially after all of those needs and obligations met, what's left to spend on things you don't need but do want - days out, clothes, gifts, treats and so on. That is the disposable bit of that income because you're free to do with that what you want and it isn't needed elsewhere to make an end meet.