Is £350 per week enough to live on (family of 5)?

[DiscontinuedModelHusband]

DW and I are struggling a bit financially.
Over the last few months, we just seem to be treading water - no additional money saved, credit card/overdraft debt not reducing.

I've worked out that after all our normal bills, mortgage, credit cards, regular kids activities, savings etc we should have about £1400 per month to live on (for food, clothes, presents, eating out etc).

DW thinks this is unreasonable, and that I should ask my parents for help (they are fairly well off, but by no means wealthy).

My argument is that asking my parents is not really a sustainable solution in the long-term - I think we need to fix our spending habits.

She's now not speaking to me , because she thinks my pride is the problem.

There is a smidgen of truth to this - DW and my parents have a frosty relationship, meaning we barely see them (perhaps once per fortnight, for a meal - mainly DW's choice).

I feel uncomfortable asking them for financial help when they don't really get many normal grandparent benefits (proper time with GCs, they never get to holiday with us, GCs have never stayed at their house etc).

Our relationship is largely financial as it is (they help with school trips, uniform, have lent us money in the past), and I dislike this very much (I don't think my parents love it either, but have always been happy to help).

Should I just swallow my pride here?

Or should we try and sort things ourselves?
Is this even possible for £350 per month?

She needs a reality check - how much debt are you talking?

Why do people think they are entitled to other peoples money? They look at relatives/parents and they think, oh well they must have a few quid,,therefore i want some of it,,or in the case of a son or daughter,,well they will leave it me when they die so i want an upfront payment. The best place for a loan is a bank.

Do you parents pay all the school fees? If not & you’re struggling on 1.4k a month I would say you can’t afford private.

And if your parents do pay all the school fees then you’re defo BU asking for more handouts.

Blimey. That's my sole monthly income. I rent, pay Bill's, run a car, buy food etc on that. Someone needs a reality check!!

£350 after bills is a lot. I spend a lot £200 approx and food per week and another 50-100 on miscellaneous (such as trips, coffee shops, clothes). My husband probably spends 30-50. £350 is definitely doable.

£350 per week is loads!!

£350 a week is so much money!! This is more than I have per month. If you ask for financial assistance on top of that you are a complete cf!

Doesn't sound like you can afford private. My DH and I were both privately educated and hoped to educate DC privately. We could, at a push, but would need to cut our cloth a bit. We earn just over £4k per month and have a small mortgage. Having said this, it would be unsettling to take them out if their school. I wouldn't ask DPs for more money.

That's a decent amount tbf my friend has £150 per MONTH (give or take a tenner) once she has paid rent and utilities and has to buy food out of that too. She lives alone and just has her pension each month.

We are a family of 4 and after all our regular outgoings we have £95 per week to live on. Its hard but manageable. I suppose it depends on where you live but for us £350 per week would be a dream.
I don't think asking your parents for fanancial support is great for your long term solution. I would say you need to look at your spending and try to make some cuts first off.

Your wife is being ridiculous. If she wants more money maybe she should get a better job!

You are sodding loaded. Is this some shitty wide up post?

I note you also are putting aside savings on top of £1400 per month.

1400 a month dispisable income and dw wants money off your parents OMG GREEDY OR WHAT we have 400 dispoable income and we survive, tell her to get a grip

Actually OP, people like you asking, 'can I manage on xx (insert vast sum here)' genuinely disgust me.

If you are smart enough to earn that much money you are smart enough to do the simple additions and subtraction sums to know exactly how you can live on it.

What on earth is your point in posting?

Not commenting on the money, but your kids seeing their grandparents every fortnight is loads!!

‘Loads of debt’ and have just spent your savings on a holiday? Cap in hand to parents with £1400 a month to piss about with?

Get a grip.

£1400 a month disposable income AFTER all your outgoings? And your husband thinks it isn’t enough?

I think heads need a wobble somewhere. We are lucky to have £550 a month left over.

And having £1400 a month disposable income is not financially struggling. Good god.

I misread at first. I thought the OP said it was £1400 pcm before all fixed outgoings, which would probably be pretty tight with 3 teens to feed, clothe & entertain, but just manageable. Now I'm just incredulous at how some people live.

Your monthly disposable income is £1400. Ours is £500. We live off £400 and save £100 for holidays. There’s 6 of us. You can definitely live off what you have, very comfortably.

£250 a week is loads. You should be able to start saving with that amount, on my budget recipe blog, EatNotSpend I have family of 4 healthy meals for about £50 of shopping a week. We looking into our finances a few years ago now and if you take a nice packed lunch (not soggy sandwich) and don’t buy coffees you can save over £200 between you each month. Open another account to start saving in. Use a book account so you can’t just take money out on a whim, even if you just put in £20 here and there it’ll start adding up. Try only having £5 of emergency cash in your purse and see if you can keep it until the end of the week.

Oh, and activities are out of our disposable income too!

Think he's got the message, no need to judge. Just get some better habits going.

Some families don't even earn 350 a week and you're wondering if it's enough to live on?!