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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

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

201 replies

MissJoeBlogs · 19/08/2020 14:28

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?

OP posts:

bridgetreilly · 19/08/2020 16:08

If you don't feel skint, you aren't skint. I think that having income left after bills and food is great! It's not loads, but as you say, it's enough to give your kids small treats and once your debt is paid, you'll have enough to make more substantial savings and put yourself on a better footing going forward. It sounds to me like you're doing just fine.

littlealexhorne · 19/08/2020 16:14

I think to me skint is not having any money left over after bills and food, or even not being able to cover those in the first place. You sound like you have a great mindset and attitude, which I think means a lot in itself.

Original poster

MissJoeBlogs · 19/08/2020 16:16

@HellsBills

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.

Thanks everyone :) no, I don't feel like my kids are missing out. If anything, I think they're gaining valuable skills from watching me handle our (limited) finances well. Today we went to the park, stopped at the bakery for a gingerbread man each, then picked up leaves and sticks on the way home, put them in a bucket and my daughter turned them in to a picture at home with her craft stuff. The whole day cost me £1.50 :)

OP posts:

Lndnmummy · 19/08/2020 16:17

@MissJoeBlogs you are doing great! You are budgeting, saving and paying off your debt. You have your priorities right and a level head. You are doing better than most! Enjoy these precious years with your little ones and once the debt is paid off you’ll be able to increase savings and or splash out abit if you want to!

GisAFag · 19/08/2020 16:18

I have 140 a month after everything is paid out that includes monthly holiday payments, cinema card and theme park. Its better than a kick on the head. I, too, have been skint and has to scrape by hunting for 50p for to buy tea bags etc. I watch rich House poor house.. They rich make money by having stressful jobs, long long hours and never see their kids except on the skiing holidays.. I'd rather see my kids, live within my means, and be content with what I have and what I do.

MondeoFan · 19/08/2020 16:26

I think it's tight. How much do you spend on Christmas for instance?
It's only about £37 a week. It's not much but is acceptable if you have no emergencies.

Penguinnnnnnnnnnn · 19/08/2020 16:27

@GisAFag That’s not exactly fair to say and I’m not sure that’s entirety accurate. We have a lot more than £140 a month after we’ve paid for everything and we see our children lots (I work part time ect) and my husband is always home for bedtime and works from home a lot.

Ponoka7 · 19/08/2020 16:28

A lot of the families around me are 'skint'. Clothes and toys are bought out of catalogues/second hand/primark and on store cards, food is very basic and shopping at farm foods etc is the norm. Christmas presents off wider family include essential clothing. They are constantly behind on weekly payments.

I can remember the episode of RH/PH were it was the first time)(the very decent dad) had been able to buy his Son new football boots and he sobbed.

We all fall into different income groups and I think that you are doing ok for someone who has a good work/life balance.

Tootletum · 19/08/2020 16:30

I think I need a reality check. I worry about money constantly, and we go on camping holidays in the UK. We have about £4000 left after bills. Yes, a month.

NotEverythingIsBlackandWhite · 19/08/2020 16:30

On 'Rich House Poor House' the amount they have has to pay for food, gas & electric as well.
If you have enough to feed yourself and pay household running costs and have any left over then you are not skint. Yes, you aren't well off but neither are you skint.

VividImagination · 19/08/2020 16:32

I think that’s pretty tight. We are a family of five and if I can stick to £65 a week for food then we have £280 disposable income. I find that if I go over on groceries (which is really easy to do) or if one of the dc needs something replaced the money runs out quickly. I bought a couple of pairs of summer trousers this year when we had the hot weather. I felt guilty but it’s the first new clothes I’ve had in years and I’m beginning to look like a scarecrow. (Don’t mention hair cuts!)

WanderingMilly · 19/08/2020 16:33

Well, if that's leftover AFTER food and everything I'd personally not say you're skint. I have less than £100 left and I consider myself very lucky!
Having said that, there's only me whereas you have a family so I guess it's harder.
Obviously not "rich" but doable.....

Spinachfinger · 19/08/2020 16:35

What you're doing sounds spot on to me. £150 left may not be a lot for some people but it works for you and your family, plus you are managing your debt .

I think your circumstances mean £150 is comfortable for you than for someone else. For example, you rent so if your boiler breaks, the LL will sort it. For people who own their home, £150 per month would be very tight in the same situation.

Also, I dont know if you run a car, but if you had an unexpected car cost (breakdown etc) £150 per month leftover would be difficult to cover emergency repairs. If you didnt have a car, £150 left over per month feels like a nice Brucie bonus.

chomalungma · 19/08/2020 16:37

@Tootletum

I think I need a reality check. I worry about money constantly, and we go on camping holidays in the UK. We have about £4000 left after bills. Yes, a month.

£4000 left after bills would put you in the very high income category.

£150 a month after essentials is not fun - but it could be a lot lot worse.

DumbleDorkReturns · 19/08/2020 16:39

I would say that's a decent amount of money once all essentials are paid. I have about £40 a month for myself once I'm done paying my portion of the bills so to me £150 would be a luxury

whereistherum · 19/08/2020 16:39

We have a wee bit more than that, but once you take out birthday, christmas, uniform/clothing and after school club money, we basically have nothing, anything we do have I shove in a savings account, we try and save for these on a monthly basis, so we don't have to rely on credit

butterpuffed · 19/08/2020 16:49

@Tootletum

I think I need a reality check. I worry about money constantly, and we go on camping holidays in the UK. We have about £4000 left after bills. Yes, a month.

I think you're correct about needing a reality check~ on Rich House Poor House , the wealthy families usually have roughly £1,200 to £1,400 per week disposable income , so not a huge amount more than you and your family

OnlyFoolsnMothers · 19/08/2020 16:58

MN is so far removed from any reality I know - 100quid or 4K a month ....

isabellerossignol · 19/08/2020 17:07

@Tootletum

I think I need a reality check. I worry about money constantly, and we go on camping holidays in the UK. We have about £4000 left after bills. Yes, a month.

I don't believe for a second that anyone could be so far removed from reality as to think that having £4000 a month disposable income is so poor as to have to worry constantly about money.

Yes, I know, it's not buying a yacht and a Carribbean island wealthy, but worrying constantly about money? Have some perspective.

Hayyancairo2 · 19/08/2020 17:08

I'd say you're a great mum doing a fantastic job :)

JinglingHellsBells · 19/08/2020 17:11

To put it into context, someone on a state pension would only have £159 a week at the latest highest rate, for everything, possibly including rent. And even without rent as a home owner, they would buy food, fuel, council tax, clothes, transport, etc, leaving them with very little- possibly not almost £40 a week. I know the OP has children, which makes a difference.

The other thing that strikes me here is how many parents spend quite a lot on DCs entertainment. Mine are now adults, but we did most things for free. We had an annual pass to a child's 'farm' with a play area and cafe, or you could picnic, and at weekends we'd do family walks and again take our own food as a picnic.

We weren't hard up by any means, but did have a big mortgage and had a saving for a rainy day attitude to money.

bridgetreilly · 19/08/2020 17:13

I think I need a reality check. I worry about money constantly, and we go on camping holidays in the UK. We have about £4000 left after bills. Yes, a month.

I'm really curious to know what you are worrying about. How much of that £4000 goes into savings? How much do you have in savings? Do you ever do a budget or do you feel out of control with your finances?

Because with that sort of cash, there really shouldn't be any reason to worry, and if you are constantly worrying, then I would try to do something about it. Starting with a budget and a savings plan.

Kelcat9494 · 19/08/2020 17:22

I think whatever you have left over a month some people will say it's not enough, I currently have £1600 a month disposable and someone on here told me it was tight haha as long as you're happy and living your best life who cares xx

RadicalFern · 19/08/2020 17:39

In one job I had I ended up with £5 per week left over after rent, transport, and share of communal groceries was paid. I am not particularly profligate but it was really grim having to pinch every single penny, and not be able to get my hair cut or go to a cafe.

OP if you're feeling happy and your family are well and fed, then just keep enjoying them. It is a precious gift to be able to enjoy the things you do have especially when so much of society is set up to make you discontent.

category12 · 19/08/2020 17:41

It might be worth thinking about whether you're better paying off the debt faster rather than saving a tiny bit, with interests rates as they are, you might be better off paying down the debt asap. Then you can properly save once it's paid off, plus have the cushion of being able to get more credit.

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