Random money question

[sidneytweeney]

Ok so today is the 10th, you get paid on the 30th.

You’ve paid all
of your bills, put a bit of savings away.

Single parent, 2 kids. You have £1k to last the rest of the month.

Would you consider this a lot? Comfortable? A stretch?

A flipping LOT!!!!

A lot

Loads.

Very comfortable.

£80 a week for food.
some petrol
Leaving at least £500 for incidentals.

Loads!
why don’t think it is
its £50 per day

That would be enough for me.

It's a lot, as all the bills are paid and money has gone across to savings. More than comfortable if its only got to cover food, travel and day to day expenses.

That's bloody amazing, I'm not a single parent and I have £50 til the end of the month. All food, bills, fuel etc is already accounted for though!

Loooots

Wow you have savings AND a grand to live off - loads. well done.

you dont know it yet but when you are in your 50s you will wonder why you didn’t put more into your pension so you could retire early. you will be tired and desperate to have more time to relax. You may also have elderly parents who need endless things done for them and you have no time as you're working.

how much do you pay into your pension per month? latterly i was paying £170 and it’s not enough to fully retire at 55 on. So if you have extra i’d pay some into your pension so you dont end up like me.

You wont think it yet, but you will feel different when menopause kicks in and wish you’d invested more in yourself.

I'd put another £400 into savings. That leaves £600 for 20 days.

that’s what I thought!! It’s not me ! Was talking about finances with a friend last night and she told me this was her situation and she was saying she’s worried she won’t make it until payday!!

£30 a day so can't fill the car up?

What does the 1k have to cover @sidneytweeney ?

Everything barring bills? So shopping / food / petrol / travel / socialising money.

Would be more than enough for us (I have 3 DC) but depends on if there are any big expenses coming up and what your spending habits are.

This month I've had to pay ballet tuition fees and pay a deposit for a ski trip which would have more than halved 1k but I'd still be okay as we don't have many other expenses (food would be the only thing I'd need to buy between now and payday)

a lot, and a lot more than most people have

Loads.

More than I have BEFORE bills.

Depends how much went into savings and what it has to cover. A £200 commute, £500 food bill, any other costs and only £200 gone to savings for example and suddenly it’s not that great. If it’s £1k purely to spend as she wishes and she put a decent amount in savings then it’s a lot.

@OctaviaBundy
Yes - fill the car and then spend nothing for maybe 3 days. Once there is food in the house that would be fine.