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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Should we be this broke with £750 disposable income?

93 replies

Lionking1981 · 15/03/2017 23:33

Just this. We have 50 pounds left and it has to last us 9 days. I keep pleading poverty to my family because i find it so hard to make ends meet, my mum gives me the odd tenner to help me out but we have just worked out all our bills and food and we have 750 pounds disposable every month. I don't feel we overspend. I feel a bit ashamed of this. Dh doesn't think it's a lot and it's normal for us to be struggling. We have 2 dc. What do you think?

OP posts:
TinselTwins · 16/03/2017 00:37

I don't think it's a lot, I budget £500 "spending money" a month but by spending money, I don't mean shoes and handbags, I mean all transport, gifts, non food household stuff that needs replacing, bits of clothes/uniforms/extra-curricular bits for the kids as required, the kids extra curricular term fees, any extra snacks or food top-ups after the big shop, and anything else unexpected that comes up, the odd exercise class… everything non bills/big shop/rent.

It runs out before the month does, but we make do with "cupboard food" and get through the freezer stuff to get to payday, and put anything extra off that comes up near the end of the month until the next payday.

Vermillioncomfyshoes · 16/03/2017 00:37

we have 750 pounds disposable every month

That's an awful lot of disposable in most people's cash book.

user1483387154 · 16/03/2017 00:41

You have a lot of disposable income and really shouldnt be pleading poverty with your family with the amount you have.
I would also include take aways, meals out and kids activities in the section of disposable income.
You definitely need to create a budget spreadsheet and see where all the money is going to.

PyongyangKipperbang · 16/03/2017 00:47

Well its going somewhere and with DH's laissez faire attitude, I would be looking very closely at his spends!

I find that a lot of our income goes on "popping" to the shop. Run out of bread/milk/whatever? Pop to the Coop except that their prices are usually twice that of the Aldi a couple of miles away. Unfortunately I dont have space to freeze bread or milk and am considering buying a chest freezer purely for those, as nipping in for bread usually costs a tenner as I pick up other bits too.

highinthesky · 16/03/2017 00:56

This is madness.

Get yourself on the OS board on the MSE forum.

AndKnowItsSeven · 16/03/2017 01:07

Download this app, its free, very simple and really useful.

Should we be this broke with £750 disposable income?
Out2pasture · 16/03/2017 01:21

Do UK banks not have online sites?
My bank's program categorizes my purchases (shell fuel, Starbucks fast food etc). It makes reviewing your monthly spend a simple matter of just sitting and reviewing.

AndKnowItsSeven · 16/03/2017 01:25

Online yes but your statement is just a dated list of transactions, it's not categorised. Sounds great though.

Out2pasture · 16/03/2017 01:36

Does it list the shops where the money was spent Aldi, IKEA etc?
More time consuming but no need to wait a month to pick apart your expenditures.
Do most people own printers (some of the education threads suggests not everyone does).

Ginkypig · 16/03/2017 01:39

Some of what your describing is not disposable income though. They just not essential bills.

Split it into

essential= bills rent etc

Non essential bills= sky, veg box or anything that is nice but isn't keeping you housed warm and fed etc

Savings

Non Essential (but regular so can be tracked) kids activities, if you have a standing sat takeaway or know you visit Starbucks on Tuesday, work snacks etc

The rest is disposable

If there isn't enough disposable then section 3 must be looked at and cuts get made if there is still not enough then the savings and non essential bills are looked at and cuts are made

If there still isn't enough then there is a serious problem

Ginkypig · 16/03/2017 01:42

That should say sections not section 3

BarbaraofSeville · 16/03/2017 01:54

If you spend on cards you can often download into a spreadsheet including categories of spends (fuel, supermarket etc). Then analyse what you spend where. Like others have said, it's easy to spend hundreds on food out of the house or takeaways.

Very extravagant if you don't have the spare money and not on to be cadging off your mum because you can't be arsed to make a packed lunch if this is what a lot of the money is going on.

If you haven't done it before, it's always worth systematically looking to reduce your bills by changing gas and electric suppliers and reducing your mobile phone and TV contracts etc. All these companies try to get you to spend a bit extra with them and if you're paying full price it's too much. Loyalty or introductory discounts are always available.

Always put money aside for annual and unpredictable expenses. Lots of people say their finances were derailed by an unexpected bill, but if you have a car, pet, washing machine or house, these will cost money sooner or later.

Do you have lots of food in your cupboards and freezer? One way to stretch that £50 is to aim to eat everything up and only buy the minimum bread, milk, fruit and veg (cheap seasonal stuff not fancy expensive stuff) you can even if it means eating slightly weird combinations. I've had pork pie, gravy and broccoli for lunch twice this week because I'm trying to clear out the crap from the freezer graveyard and it was quite nice actually.

Out2pasture · 16/03/2017 02:03

sometimes you don't even have to actually "change" just calling and threatening to leave "because another provider is offering better rates" will sometimes give you a better deal for 6 months or so.

NapQueen · 16/03/2017 06:41

OP you are borrowing money off other people and still buying takeaways and work snacks??

SorrelSoup · 16/03/2017 06:54

If you drink and smoke then money literally just evaporates.

You need more categories. Put all outgoings on a spreadsheet. Then put in lots of categories. We have a kids' pot for the month which has actual cash in it. When it's gone , it's gone. Me and dh have our own spendings pot which is ours to do as we wish. Gym, phone, petrol is all classed as family expenses. You need to be realistic.

ChocolateSherberts2017 · 16/03/2017 06:58

Why not factor your work snacks into your main food shopping and bring in packed lunches?

Ditto hot and cold drinks, keep coffee/tea bags in your desk drawer to stop you from buying.

Transfer £200-300 into a savings account on pay day & reduce all your other spends. See how long you can last with a reduced disposable income to start with.

I think you feel the need to spend the £700 all in one go and it's a psychological thing for you and your husband.

Switch to aldi/Lidl if you can and replace premium brands with own brands.

Alcohol, takeaways, nights out are luxuries not necessities and if you borrow money to fund it then you need to stop.

I'd be happy to lend someone a tenner for food but not if she can't budget properly and splurges on takeaways that she can't buy a loaf of bread.

www.moneysavingexpert.com

Start saving £2 coins into those money tins you need a can opener for. You'll soon get into the habit of saving them rather than spending.

ChocolateSherberts2017 · 16/03/2017 07:04

www.mumsnet.com/Talk/credit_crunch

www.mumsnet.com/Talk/legal_money_matters

We've remortgaged and switched from variable to a fixed rate on our mortgage & have saved £150 a month by doing it.

Go through all your fixed monthly expenses and see if you can save money by switching deals.

NoLotteryWinYet · 16/03/2017 07:09

If that's honestly after all bills, it does seem in the high side - are you sure you're not using it for irregular unbudgeted for expenses?

Frouby · 16/03/2017 07:12

We probably have similar OP when everything is paid. I couldn't understand where it was going either.

I was shocked when I started keeping track of it just how much money we wasted.on stuff.to shove in our gobs! Takeaways, coffees when out, booze, lunch from subway ignoring food piled high in the fridge.

I draw enough money out of the bank for stuff we have planned that week. Before I go back to the cashpoint I ask myself if we really really need to. And try not to use my debit card for stuff other than fuel or the main shop.

Dp is much worse than me. He thinks nothing of scatter cashing £100 mooching around buying shite no one needs.

themightymoog · 16/03/2017 07:20

I'm confused; you say you're skint but in your update post you say your adding up doesn't include takeaway/ eating out? Why on earth are you doing these things and still pleading poverty? No sympathy.

coconutpie · 16/03/2017 07:21

You're borrowing money off your mum yet you're buying takeaways and work snacks?!! Stop buying takeaway. £750 pm after all bills etc is a lot, clearly you need to do a proper budget.

themightymoog · 16/03/2017 07:21

And work snacks and clothes? work snacks should be zero, clothes for yourself about zero. How much are you actually wasting on this stuff?

Zampa · 16/03/2017 07:22

I record everything I spend in an Excel spreadsheet on my phone, which is always with me. DH has access to it too (although is less good at recording things, which is very annoying!).

When we first started, we got three months of bank statements and analysed our expenditure. We went to Tesco 80 times in 3 months, plus several trips to Sainsbury's, Booths, Aldi etc. We now do 1 weekly online shop and face a fortune!

Writing everything down really makes you focus on what's necessary. Good luck!

Eatingcheeseontoast · 16/03/2017 07:36

I use an app called toshl (others are available) you and Dh can both use it. Track everything you spend.

I bet it's food where it's going, takeaways and lunch at work eat up money.

Use miney saving expert.com and get to the stage where you can put some money away each month.

A little pot of savings is a lifesaver.

DaphneDeLaFontaine · 16/03/2017 07:40

If you're eating out a lot and having takeaways, no wonder your mum doesn't want to sub you.

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