Is 2k a month a lot to live on?

[eggplant16]

Mortgage is paid, 2 of us, run a car ( which i would be loathed to be without).

A very long story but a promised inheritance didn't come my way. No I'm not entitled, I was lead to believe this. Its starting to scare me tbh. Huge dental bills for one thing.

Thanks

I'm not sure that even if you did a poll of the people on your street to find out how much their outgoings were a month it would even be that helpful, never mind a selection of people on Mumsnet from all over the place with absolutely no clue about their lifestyle/hobbies/holiday expectations or drinking habits. Someone who thinks that eating out once a week, a couple of bottles of decent red a week, a coffee every morning while out on a walk, expensive highlights every six weeks, golf and tennis club memberships and a weekly manicure, will have hundreds a month more to find than someone who is more frugal, yet if that is their norm it will feel completely reasonable to them.

If you want to find out you need to work it out, otherwise you really are just guessing. A feeling isn't going to pay for private medical care.

Clearly you are using a different definition of relevant information to the rest of us.

And possibky smug as well, I have no idea where you got the impression I'm smug about anything, I've said nothing about my own circumstances at all

It’s absolutely not enough for me and my husband for sure. I have private healthcare costs (c. 300 a month) and my council tax alone is over 300, service charge is 200. Fuel, water et al and I’m dipping into capital nearly every month. It’s miserable.

After bills , 1 k left per month.

Only one person is of pensionable age.

I'm beginning to think you are right.

Have you basically spent an inheritance before it was received? Is that the panic? You’ve undertaken private dental work assuming it would be paid off but now have an additional bill?

I don’t think anyone can help you without proper details, but as others have said get a spreadsheet, write all the expenses down see if you are covering them all. Surplus pays off the medical bill. Or transfer the medical bill to a lower/zero interest credit card so then you’re not paying extortionate interest.

Cut back where you can.

Very difficult to generalise but on the information you’ve shared that’s all anyone can speculate on.

Well it depends. If they're in a family sized house with family sized utility and council tax bills and are struggling for money, it's likely not the worst idea in the world.

Better to do it now than in 15/20 years time when the house is falling apart due to lack of maintenance and they're unable to manage the physical upheaval of moving

What's your plan to make it more then if it's not enough?
I definitely think you need to look at your budget.

Thankfully, no I didn't spend anything. Its hard to explain and I don't want to be jumped on and told I'm grabby. But when you are told a certain thing many times, it seeps in.

Not food, Thanks. All other outgoings.

Hi @eggplant16, yes I get that. I was just trying to work out the situation to see if people could help with a clearer picture.

So you were lead to believe you would have a more comfortable retirement than will happen in reality. That’s tough.

I think if you’ve already calculated outgoings and they are covered by your incoming, I guess the panic is no “spare” cash or rain day fund?

I’d look to reduce what I could. Like you I wouldn’t be without a car, but can you use more sparingly? Can you get bus passes and use for local travel for example? Reduce the declared annual mileage on your insurance policy, details of usage etc?

Do you have any skills/hobbies that could generate some extra income? My neighbour makes handmade socks - keeps her busy in the evening and she sells some which in her words “pays for the cat food bill”.

I think it’s very scary to be looking at life, and the next phase of it after you’ve finished working, so sympathies.

Do you mean £2k disposable? So after all bills paid you have that left over? If so then that is plenty a lot live on a lot less.

Thank you so much @Witchbitch20 That is it exactly. Its been a blow, more emotionally than a case of being grabby. I am absolutely not complaining about my situation. I am very well aware that people just down the road from me are in a bad way, using food banks and so on.

I do worry that I am constantly shelling out for this and that. We have got a bit sloppy when it comes to eating out. Somehow we end up paying and tbh I can't recall a meal that has been anything special. That has to stop right now.

I have around this amount after rent for myself and three almost adult children. It is manageable so long as you're sensible about outgoings but there are no luxuries and no ability to have savings.

@eggplant16 I get it!

You feel how you feel and that’s ok. Once you have time to come to terms with the situation you can assess more realistically.

Lots of people can and do live on a lower income - but that doesn’t make it less overwhelming for you.

Regarding eating out, why not start by reducing the number of times you do it? If you eat out 4 times a week cut back to 2 initially? I’m noticing a drop in standards when I go out to eat lately but still like the occasional meal for social reasons more than anything! Also look for deals - loads of chain restaurants will do money off vouchers, free drinks etc.

You will be ok.

Thanks, the eating out is perhaps very very occasionally the 2 of us. Perhaps 6 times a year with family.

This is a whole other topic! But I just don't enjoy it at all.

Thank You for your kindness

I do worry that I am constantly shelling out for this and that. We have got a bit sloppy when it comes to eating out. Somehow we end up paying and tbh I can't recall a meal that has been anything special. That has to stop right now.

I think that's it. So many good things in life are free, I find, and then you need to focus on paying for only things that genuinely enhance your life whether that's health care or a holiday.

It's more than enough for a decent standard of living but you have to budget accordingly and can't splash out on all sorts of stuff if you can't afford it.
Why the private healthcare? And does that come out of the 2K?

I have chronic back trouble. The NHS doesn't really provide much.

Thanks

It's plenty if you're careful.