To wonder if it’s normal to have nothing left after twelve days into the month

[Daisy9010]

This is the position I find myself in every month.

It drives me mad.

Is anyone the same?

Depends on how you spend.

If all your outgoings are paid in the 12 days and you have done a big monthly shop, you may need to spend very little for the rest of the month.
If not then how do you manage?

With enormous difficulty to be honest.

What are your outgoings? Car? Rent/mortgage?
Do you work?

Yes. My job isn’t badly paid as it happens but outgoings are sky high and no way to cut back.

What are your main outgoings? Debt? Mortgage?

I think it’s more normal than people talk about really. How much do you bring in compared to what goes out? I’m sure you’re making as many savings as you can, but have you checked everything in your budget recently to be sure you’re paying out the least you need to?

I mean I have done 80% of my spending by the 2nd of the month, so it’s not terribly unusual for me to be down to the last bits in my current account if it’s an expensive month - but I put a % into savings before the direct debits come out so it’s not a worrying occurance.

Have you thought about doing a statement of account? (SOA) It lists all your income and outgoings, and you can base it on bank statements.

If you earn a decent amount yet struggling there must be a spanner in the works somewhere.
Do you have large housing costs? Paying off a car?

Yup. Part of the problem we have is that we are always running at a defecit so when money comes in we try to play catch up.

I could only get a job in a different area of the country to where my flat was so I’m paying two lots of living costs, rent mon-fri and mortgage. And massive travelling costs.

Not as unusual as it should be but definitely not normal, especially with decent income.

Have you used anything like YNAB to get a proper understanding of where your money is going?
If you are running at a deficit then unless this is a short term hiccup (eg unpaid maternity leave, finishing renovations), then you'll have no choice but to cut some of those sky high outgoings, or youll end up under a massive debt cloud or selling your belongings...

Well I usually sadly have nothing left of my play money but our food and bills money is still in their respective accounts and what little savings we have etc. But I hate that I blow my spending money so quick because I like to use it taking the kids to a cafe to save me on cooking and cleaning up and I feel tired a lot after that first week and a half lol.

I know very few people who are not in this position (at least out of the people who talk about money). There are so many outgoings. Mortgage, travel, car loan, money for DC’s extracurricular activities, food and drink, insurance, utilities. Shoes and clothes for DC.It’s constant. Need a whole new school uniform for one DC for September. Budgeting can’t make money out of nothing and our salaries disappear so quickly.

Just saw your follow up. Why do you need to keep your old flat - can you rent it out?

I can’t afford to

The ‘working poor’ is a very real thing for many, sadly.

Daisy9010 with the property that you own could you rent it out for the days that your not there(there could be someone else in the same situation as you)or get a lodger maybe?Alot of people rent out they're drive ways now or they're garages that might be worth looking into.

I used to have the same when it came to money,I'm very lucky that it changed for me a few years ago now but I can still remember the fear of having more month than money.

Yanbu... it happens to us sometimes.
We took action recently and drastically reduced our out goings
Full review of utilities, sky tv, Insurances, mobile phones etc
Reduced mortgage payments by £200 thanks to a rate review
Reduced car payments by £100 by downgrading

Can you do any of these things?

Double housing costs aren't tenable for most people. Can you sell and move full-time nearer your work?

Also H&M for clothes is amazing... especially if you have kids.
Sports direct for their school shoes... I only discovered it last year and could kick myself after years of spending £40+ in Clarke's

By the sounds if it you need to get a job closer to home.

It's not normal to be running two houses on one income- not many people could cope doing this! You need to either sell the first house, or rent it out so that you can cover the cost of the mortgage. TBH I am surprised you haven't done this already!

No I’m not in same position. I’m a single parent on minimum wage so I get tax credits which means I have plenty left over but I don’t spend much either.
I couldn’t run two houses though. I think you need to give one up.

Do you use the other flat? If not then could you rent it out?

I can’t sell it as it isn’t just in my name and I can’t rent it out because I need it at weekends and plus I can’t afford the gas and electricity checks.