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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask if you have a 40k household income how much your outgoings are?

183 replies

PantyGiraffe · 20/12/2019 18:44

To help me see where we are going wrong!

I’m not working at the moment due to health problems. We have one child. No mortgage (paid for house in full on purchase). We live in a 2 bed house and our bills come to £800 including our car and mobile bills. Car was paid for cash and we don’t spend more than £60 a month in petrol.

Could people of a similar income tell me if their bills are less than this and if so how?

OP posts:
Dontdisturbmenow · 22/12/2019 09:00

£85 a month water, for both supply and disposal is sadly about right with SouthEast Water. They've upped their costs massively in the last few years. We moved recently and that's what we use to pay. We now pay £40 a month. Shocking!

isabellerossignol · 22/12/2019 09:08

Why do you have life insurance if you have no mortgage? Most people only have it to pay off the mortgage if they die.

Not really. It's pretty normal to have life assurance to provide a lump sum for surviving family or dependents. Especially when young children are involved.

Oysterbabe · 22/12/2019 09:13

Our income is a fair bit higher but our outgoings not including food are

Energy £76.30
TV licence £12.37
Council tax £187.00
Broadband £20.00
Life insurance £65.00
Mortgage on property 1 £216.65
Mortgage on property 2 £838.46
Childcare for DS £608.40
Childcare for DD £183.91
Service charge for property 1 £76.00
Phone Contracts £60
TOTAL OUTGOING £2,344.09

We spend around £300 a month on food I think.

DowntownAbby · 22/12/2019 09:18

Instead of saying £40k gross, can't you just tell us how much you have coming into the bank each month, OP?

It sounds like saving the odd £20 here and there will be significant for you if going a few hundred overdrawn has caused an issue, so the vague income figure is quite difficult to work on.

We have no idea about your deductions for pensions etc, nor anything you would have coming in as far as child benefit or possibly TCs, etc, so your net income could be anything from, say, £2,250 to £2,800.

Assuming you haven't had household insurance claims, you're paying a lot for yours. We pay less than £200 per year building and contents with full accidental damage cover on a 5-bed with £100k contents including jewellery and watches, etc.

Breakdown cover can be had for less than £30 per year. Have a look at MoneySupermarket - you can do comparisons on there.

The water has to be wrong, somehow. That's 4x what it could be.

Things like boiler cover can be a waste of money when you're paying as much as you are. They don't provide a free new boiler if yours needs replacing and the won't fix faults which are more expensive than the boiler is worth. As someone mentioned, BG do fixed price repairs if you ever need it. You could pocket the monthly payment and then use that money if you ever needed to.

Your mobiles are very expensive but sounds like you're on the case with that.

coconuttelegraph · 22/12/2019 15:25

Can you provide a bit more information about the water bill - your usage per day and the rate per litre, you should get an annual summary. An amount of ££ alone isn't enough to say if something might be wrong.

AllergicToAMop · 22/12/2019 16:31

Why is everyone stuck on water bill and no one is curious how much the food bill is 😂

BoxedWine · 22/12/2019 16:42

Several people have asked about that!

BlaueLagune · 22/12/2019 17:30

Our outgoings are

Our gas and electric are £115
Council tax £210
Mobiles £35 for three
Water £18 YOU NEED TO CHECK YOUR WATER!
Car tax and insurance £200 a year for one car, zero car tax; other car is about £150 a year tax and about £400 a year insurance
Contents/buildings insurance £50
Breakdown cover A ridiculous amount for AA cover because we are "gold" members - over £200 a year but it's in DH's name so I can't do anything about it unless he does, downside of data protection laws
Virgin media £80ish
Charity £9
DH's season ticket is £4K a year
Savings for DS £100

and then a few magazine/society subscriptions etc

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