To ask how much you budget to spend on yourself.

[2019budgetplanning]

My DH wants to budget this year. Talking about it, he’s suggested that once we’ve paid all bills and paid into a savings account we each have around £100 per week for us - each.

He’s suggesting that this money would be used for haircuts, clothes, coffee out etc. However, whenever we do things as a family, or spend on DC, that comes out of the savings account.

Does this sound like a manageable amount, I’m a bit concerned as I feel that my expenses are higher than his, ie. haircuts, make-up, clothes etc.

To give you a full picture, our outgoings are low, we already have am reasonable amount of savings (more than 10k), no debt etc. We have monthly membership of an expensive gym which we both enjoy.

I earn more than him, about £1000 per week in a very very stressful job which leaves me minimal time for enjoyment. He does more childcare but does earn an ok amount too.

Any views greatly appreciated, we’re struggling to agree and he’s agreed to seriously consider any thoughts that are shared on this thread

I get about £5 a week to myself.

usually goes on chinese

If you have a busy life , work hard, put in the hours and need to look polished I can see £100 + disappearing very easily so from that point of view it's not too much as a % of your income

However I prefer saving for a rainy day , I don't know how old you are but leading that type of life in your 30's or early 40's you can feel invincible, but sooner or later you may slow down a bit and find that money in the bank rather than money spent is better if less is coming in

For what you both earn savings of around 10k is peanuts so personally I would limit spending and save more ( and not be tempted to dip into savings for pocket money items )

I think making a post about how you've got £100 a week to spend on your make up while half the country is hungry is way off the mark.

Who are we to say if it's enough or not? Maybe you need a lot of haircuts.

We have 500 each a month but I do need all my petrol from that which is usually 200. So I think 500 just on yourself is plenty.

I’m just intrigued as to how you find the time to spend £100 a week if you work in a stressful job and go to the gym?!
£100 seems like a reasonable budget to me. Try it and review in 3 months?

@Ninetyfive restraining myself here...

In answer to the thread title, I budget £0 to spend on myself and £0 for DH.

I cut my hair myself, every two years, probably, DH gets a hair cut for £10 every two/three months. I don't wear make up or buy any beauty products aside from Shampoo, Conditioner, Shower Gel and Deodorant.

If there is anything I want for myself, which is usually, books, DVDs, the occasional cinema trip and pizza hut, I rely on Christmas and Birthday presents for these.

I do, however, treat myself to a £20 Chinese once a month. Though, I'm trying to cut this out to save money.

£100 a week to spend on myself is a dream but we live to our means, OP. If you can afford £100 or more then go for it. If I could afford it I would too.

DH and I have £100 a month for this purpose and I think that is a lucky position to be in.

£100 a week? You're seriously asking if that is enough? Try living in the real world where people have less than that to pay everything with for a week!

Just noticed you said each. £200 a week?

I get £146 a fortnight to live off.

Answering some of the questions, I’m late 30s, I’ve got about 40k left on my mortgage, one DC. No debt. Cars etc all paid for. I came out of my pension when my mum died as I decided that life’s too short and I think, her death also impacted my thinking around spending and I just live for the moment.

I can definitely now see why this thread is annoying people. That absolutely wasn’t my intention.

Honestly? I think I’d add up what I spent what I spent on myself and see where you could cut back and tailor it to your budget. Everyone’s lifestyles are different, but I find it’s only when you put it on paper you realise what you’re spending.

This thread has made me feel quite ashamed.

2019, really did you not consider that this thread could be insensitive to some people? £100 is an awful lot of money to many people.

Honestly I probably spend about £50 a month on personal stuff - the odd coffee, some make up and new clothes. I only buy about two-three pieces of expensive new work clothing once per year, hair cut is done about every 3 months and currently to poor for it to get dyed.

I get £40 a month pocket money most months, we have separate pools of money for eating out, clothes, transportation etc so this money is literally just spending money. We had £80 each this month and last month just because there was some flex in the budget.

I came out of my pension when my mum died as I decided that life’s too short and I think, her death also impacted my thinking around spending and I just live for the moment.

Please rethink your pension plans.

I think. The responses show it's possible to just have 100 to yourself or for some this might not be enough.

If you earn 1000 a week I would be wanted to have more than 10 grand in savings. I know you said you are debt free but you will have a mortgage and if I read your post correctly you don't have a pension? I know you didn't ask about either of these, but I would look at allocating money to those two areas. If the 100 pounds a week will help contribute to those, see it as a challenge!

How often do you get a hair cut or colour? I go every 8 weeks but have a friend who goes once a month so you might want to put money aside each week to cover this.

If you're wearing make up every day, how long does foundation last? Are you happy with the make up products you currently have? I have really scaled back what I wear in regards to eye makeup recently.

Skincare might be a bigger expense depending o what products you use. Do you get your nails done etc? Eyebrows waxed?

They do all add up so you might want to look at last month's outgoings to see where you spend your money.

It's a good time of year to set a challenge for yourself. Good luck

£100 a week for treats on yourself wow you are extremely lucky op. Not sure what else to say.

If you both had to pay petrol out of it and your work was 50 miles away whilst his was 5 I'd agree your expenses are more than his. Clothes, hair and makeup are not expenses, it is your choice to spend more on these things than him.

You know if you don't buy an annuity your pension can firm part of your estate, as well as funding your retirement, right?

I really would look to up your savings given your income - you have less than 2.5x your monthly income in savings, and given your have a high income and low costs it really would make sense to have more. It's good to live for the moment, but it's also good to have room to breathe if something goes wrong.

I would recommend auditing yourself. Go back through your accounts for 3 months (so you can't just blame the costs on being in December) and categorise everything. I'd suggest: clothes and shoes, beauty, food out, other going out, and then other and break it down further if you need to. Then decide if those are amounts you're comfortable with.

I have plenty to spend on myself, but ultimately I'm not a hugely spendy person. That makes it a hell of a lot easier than if I wanted loads of things and had to not have them.

£100 a week is £5200 a year on personal items. Even if you want to spend £2k a year on clothes (£1000 a season?) which seems a lot, that still gives you just over £250 a month for everything else, which seems like quite a good sum.

OP I would re think the pension plan. If you have excess cash and are lucky enough to have a good salary, honestly I would be saving for the future.

Also you say you have 1 DC, again if I were in your position I’d be saving some money for them, not necessarily in their name but in an account that you envisage them using.

I also think the OP is getting a bit of a hard time- of course £100 a week on stuff for yourself is way more than most people dream of (me included!) but some people do have this kind of money, and that’s fine.

Sorry op...spend on myself...whats that. Nothing and same with dh. I think should as im not kidding you i have two jumpers....one coat...its vvvv tried. I kinda prefer food and cover bills. Dh has no jeans without holes now.

We have the same amount each per week OP. Put it on a monzo card so 1) you can’t overspend and 2) you can easily save the leftover at the end of each week.

I really appreciate you all taking the time to reply! I’ve just showed this to my DH and apologised for being so selfish - £100 per week it is!

To all those suggesting I audit my prior spending, I’m too embarrassed. The people who asked about hair costs - yes, expensive salon, costs vary but can be £200 per month if I’m wanting highlights. I spend loads of money on beauty treatments, face creams etc and last year I also had cosmetic procedures to include breast augmentation.

I socialise lots. I have a large social circle with lots of events and I do buy expensive clothes. Last year was particularly terrible for clothing purchases as I lost quite a bit of weight, combination of exercise and extremely high levels of stress.

My DC is costly, lots of hobbies and I am ashamed to say I almost never say no to her, probably guilt that she spends so much time without me as I work so hard.

We spend lots of money on extremely expensive holidays, we upgrade or cars when we fancy it etc.

The long and short of it, I’ve been ridiculous and commotion improviythe situation.

I hope this is ok, but I’m not going to come back to this thread. I have this horrible ache in the pit of my stomach which is a combination of shame and embarrassment.

Thank you all for taking the time
To reply though, I’m seeing things much more clearly.

I also think the OP is getting a bit of a hard time- of course £100 a week on stuff for yourself is way more than most people dream of (me included!) but some people do have this kind of money, and that’s fine

All of this! ^^

OP, I'm sorry about your mum and can understand why it would change your spending habits. However, in your financial position I think I'd like to save more. I would also try to pay off the mortgage. As it's relatively small then you could very quickly reduce it with overpayments and end up mortgage free which would be an amazing position to be in.