To ask if £150 disposable income a month means I'm skint

[MissJoeBlogs]

After all bills (including food) are paid for, I have £150 left for myself and 2 kids, this generally goes towards clothing, days out, birthday presents, etc. I'm grateful for what I have and I'm happy, but I have been watching repeats of Rich House/Poor House and the poor house had a similar amount of money left to me. Am I skint?

It's not a lot to play with at all, and will leave you in dire straits if an emergency crops up.

Mumsnet is a funny place, where some think £100k income is skint and others think you are rich if you can make ends meet.

At least it's short term. When the debts are paid off you'll be in a much better place.

Yes sorry but to me that’s skint- I’m not rolling in it by any means. But I do like to do things with my LO- and I only have 1 child presently. This weekend we spent over £100 just on a pottery cafe, cafe trips, cinema visit, parking. I don’t believe that’s frivolous or unreasonable either.

nevermind..cross-posted. You sound happy,safe and your children are looked after.

For me, that's a lot to have left over after all bills. Skint is where you literally have to count every single penny, as each one is allocated to a necessity. But as others have said, it's all relative.

Like you, I buy birthday and Christmas presents throughout the year, on sale. I don't buy anything new for myself and I buy kids clothes several sizes up, so they last at least a couple of years. Kids shoes I buy a half size up, as you can get inserts that make them the correct size when they're a little big, then remove the insert when their feet grow.

I wouldn't call that skint, as long as you're managing then that's what matters

I don't think its skint necessarily but an unexpected bill would be a serious issue for you and that puts you more in a precarious position IYSWIM? If your washing machine broke tomorrow, or your car failed its MOT and needed £300 of work doing, what would you do? It sounds like you're doing well though and will be in a much better position next year

Whether or not it includes food makes a huge difference - on rich house, poor house, the rich family often blow the budget on food and are shocked that there is nothing left after for anything else. I think it's all the annual costs that make a difference (adds up to maybe a tenner a week on car maintenance, another tenner for presents, another tenner for some kind of holiday, another for clothes/shoes - soon adds up, and that assumes nothing breaks)

I find all the little things my kids need add up...

So off the top of my head, I know my dd needs a new lunchbox for next term. My ds needs a new pencil case and some stationery. Football season is starting and he needs a waterproof jacket for when it rains when he's training. My dd needs new tights for next term. After school clubs are cancelled currently but they normally cost about £50 a term and my dd does two a week. Sometimes we might go to the park and there's a cafe there and they get a muffin and a carton of juice...that's over £5. Last year I had to pay over £200 for my dds residential school trip.

Its a how long is a bit of string question really.The programme you mention deliberately chooses people far along that bit of string at either end, it makes the tv contentious and more watchable.

On a personal level I would probably worry but have worked in a voluntary capacity at food projects so have seen truly heartbreaking poverty levels.

Look at this website www.ifs.org.uk/tools_and_resources/where_do_you_fit_in

It’s not a perfect resource, the comparison of income is always contentious. I am more interested in how people dispose of their income, if they have a choice. For instance my friend lived a very humble life to send her dc to private school. Another spent thousands on handbags. Private school Mum deprived herself and what her dc have done with that education is questionable. Handbag Mum is super rich it’s a bit like a regular person buying a 30 quid bag in Dorothy Perkins so it doesn’t affect her at all.

I don't buy anything new for myself

The thing is even when you're frugal eventually there will be something you need. I am pretty careful with money and don't buy myself loads of stuff, but had to buy new bras recently as all mine were really old and the underwiring had snapped. That's perfectly reasonable. At some point, you will need new shoes, underwear etc.

I don't think having £150 over after all bills are paid is skint. There are people who what shed loads left but many don't have any. I would expect you do better than many. I cannot remember when I had spending money left over. Usually it all gets spent on essentials. I think this is pretty normal.

@katy1213

It sounds precarious more than skint.

I think why the majority on this thread earn more than me may have something to do with the fact I had to Google what precarious meant

I'd struggle on that but I have one child and about £1000 disposable income a month after bills and food so that's what I'm used to. I spend a lot without thinking, like last week I took DS to play crazy golf and we went for pizza after and I had a couple of cocktails. That's £40 gone.

I should point out though that I'm a single parent and although I don't earn much I get a lot in maintenance as my ex earns a lot. Half of my "disposable" includes the maintenance.

@Waxonwaxoff0

I should point out though that I'm a single parent and although I don't earn much I get a lot in maintenance as my ex earns a lot. Half of my "disposable" includes the maintenance.

I think maintenance must make a huge difference. I don't get any unfortunately

Money goes so quickly and on so little i find.

One day, I put some petrol in the car, got the family a nandos takeaway and picked up a bag of groceries...nearly £100 gone.

Or my dd likes baking so on a rainy day we might pop to the supermarket and get some ingredients to make a cake and that's another £10 gone.

It's scary

I think that when dc are young its the most expensive time (up until 16!) however its more about planning & having a positive attitude & not bringing your dc up to expect more than you can afford. I remember when my dc were primary school age we rented a friends basic caravan (loo & shower on block no fridge!) we had fun and decades later they still remember that we either walked to next town & got fish & chips or we got bus & had sandwiches & bought salad & cold meat for tea - spending money was saved child allowance & we worked out each days expenses together. The daily treat was a choice of fruit pie from the supermarket. Some people think they are owed a foreign or luxury holiday & would consider anything else cheap, but my dc understood the restrictions & enjoyed what they got & didn't think the world owed them a living - it taught them how to budget! Good on you op - its an accomplishment to budget well & to regard it as a success & be proud!

I think skint is not even being able to pay the bills in the first place! So whilst not rolling in it OP, you are doing better then many! Just try to have a little emergency fund saved for things breaking etc.

Rich House Poor House doesn't include food shopping in the budget - so you would have £150 + 70pw food. So definitely better than the bottom 10% but not quite much more.

OP I Love your comment about a gingerbread man and a trip to the park, mine used to love that too! So maybe you are skint in some people's opinion, but you can afford everything you need right now, neither you or your children go without and you are enjoying your life. Like you said, your circumstances will change when you've paid off current debt, you're not trapped in an endless skint situation. Do you feel like you or the kids are missing out on anything? (It doesn't t sound like it) If not I think you're doing just fine.

You are doing ace. I have had more disposable income than you for the past year and will have about a grand more than you at the end of this month (just been promoted) and guess what? I feel skint. You seem so much more content and happier.

I am £800 overdrawn and feeling like the meanest person in the world today. I literally got smash my desk furious that my self employed friend sent me a gloating message saying she has been given a bounce back loan and a grant and 'feels like I have won the lottery and I can finally pay off my debts from travelling'. I have worked all through lockdown, she has not. Why am I comparing? Because I am unhappy. You might have less money than me but I would say your life sounds richer as it is much more content. You are awesome and have taught be a lesson today. Thank you.

So many typos! Sorry, on my break and rushing!

Out of interest, what would people on here consider a good amount of disposable income?

This came up in my thinking the other night, and I realised I have no idea where I sit in relation to most people. Because generally, we are all secretive about money.

It partly depends on what you are including in "bills". Somebody on here was including children's activities etc. As everyone else has said, it also depends on how much you are spending on food (and does it also include toiletries etc?).

But basically I've not lived at that sort of level since I was a single graduate students. So yes, I'd say that was pretty skint from where I am to be honest.

Of course if those "bills" include the mortgage on a beautiful house, private school, nanny and a cleaner then that is a whole different thing!!!!

I would say things are tight but if you are your kids are happy and you have food and bills are paid- what does it really matter?