Sufficient income for a couple

[Isaidwhatisaid1]

A couple in the North with no children, rent and bills is £800 altogether. How much combined income would you say is needed to live 'reasonably', not a champagne lifestyle but not the bare bones either.

Bills 800
Food 250
Power 100 (PAYG)
Phones 50 Or £8 each on a giffgaff PAYG
Travel 200 Or £0 if they walk and cycle, unless living very far from work and shops
Fun money 200 Or £50 each tops, again depends on what lifestyle they want
Clothes 100 I budget about £15 a month for clothes
Savings 200

So it really depends on how comfortably they want to live, for me the above would be a quite comfortable approach. £1.5k a month would be enough for me.

It's hard to say because lifestyle expectations vary so much, one person's luxury is another's essential. Also some people just make their money go so much further than others due to shopping around and getting deals, using discount codes etc rather than just buying the first thing they see.

I earn just over £40k and take home just under £2500 pm after tax, NI and pension contributions, but you'd get more than that due to tax allowance if two people earn that amount between them.

Whatever your income, it's usually worth making a really good budget and reviewing all your costs as making the most of your money gives you more options in the future re work, housing, travel, all sorts of things that may not be on your radar right now.

Have a look at: www.moneysavingexpert.com/family/money-help/ and the weekly email for ongoing tips on making the most of whatever money you have.

On that income only of you is working or you're both part time, right?

I have no kids and our mortgage/bills (including council tax and food) probably come up to £1300 pm. We also live up north.

We're on around £50k combined and it's enough to go out for nice meals/save/overpay the mortgage but we don't go on lots of holidays or live a very luxurious life and probably wouldn't have kids at this stage for financial reasons.

Of not od add on £160 a month for that so 960now

160 a month to feed 2 adults? On what...value sausages and tins of beans?

You need to look at all of your outgoings - so add your electricity and food to that £800. Does it include phone/internet and transport costs? Add them.
Comfortable is being able to pay all of your bills and having some left over to save and some for discretionary spending like hobbies or holidays or whatever. So based on your lifestyle and costs work out what that figure is for you.

@Ibrahimaredtwo £160 food budget is alot for 2 adults and no they don't have to live on value beans that us £40 a week and you can easily feed 2 people for that amount we spend £50 a week for 3 of us for food thats 2 adults and 1 child

State pension for a couple is just under £19000 so I guess it is assumed people can live on that.

Why is your income so low? Look at that first, then decide what you want to do with it.

@Dddccc

I can feed us for £40 for a week but only because I have store cupboards, I shop at Lidl and still average £80 for 3 including loo rolls, cleaning chemicals, sanitary products, hygiene stuff etc. Even at cheap shops shampoo etc is £1 a bottle, most weeks 2 or so things have run out

@Ibrahimaredtwo £160 food budget is alot for 2 adults and no they don't have to live on value beans that us £40 a week and you can easily feed 2 people for that amount we spend £50 a week for 3 of us for food thats 2 adults and 1 child

It is by no means " a lot"! 20 pounds a week per adult is ridiculously low and can't pay for any quality food.

@LiveintheNow

State pension for a couple is just under £19000 so I guess it is assumed people can live on that.

But pensioners either own their home outright or get housing benefit if they rent so not comparable. They also don't pay NI.

@IbrahimaRedTwo £160 is really not unreasonable. Last month I spent about that and we eat well - mostly organic food from Sainsburys. I’m vegan though (DP is not) which probably saves a lot as meat and cheese are so expensive. I could shop for less but I like getting deliveries and £40 is the minimum.

But pensioners either own their home outright or get housing benefit if they rent so not comparable. They also don't pay NI
And don't need to pay towards their pension. Many also do struggle on this amount.

In regards to food budget, it depends on quantity too. If you are slim and happy healthy small size portions, you'll do much better than if your activities are labour intensive and you are overweight and need twice as much as the former.

It's possible fore bills incl rent (or even mortgage) to be that low... Mine are below that incl leccy. Not with food though.

I agree with others. Is there a reason neither makes ft wage? I once calculated that to live to a good, but not wow standard, if by myself, I would need 24k😂 Princess livestyle right there with 700 left after bills, food and bus pass.

I don't need much.

^But pensioners either own their home outright or get housing benefit if they rent so not comparable. They also don't pay NI
And don't need to pay towards their pension. Many also do struggle on this amount^

True about the pension already being paid for. But if a pensioner couple struggle on £19k with no housing costs, that's more of an issue about expectations rather than not having enough income as that's more than enough for essentials and some luxuries.

Get yourself over to the website money saving expert run by Martin Lewis that another op posted the link to.

That has an extensive list of essential outgoings and then there is what you personally consider an ok lifestyle. That has such a huge variation of expectation for people the answers you get will vary wildly on here.

Minimum of £30K combined.
Might get working tax credits. Do a benefits calculator online.

Someone else provided a list above which looked quite sensible. It came to £1900 per month, which is £29000k gross salary.

I would say 2k a month to pull in combined would be comfortable. We use to earn just over that as a couple before kids and we saved for a deposit for a house and managed some nice holidays. I say after all bills (cars / food etc) if you can have £500 spare to do what you want with that is a good position to be in

£30k would be comfortable. £25k would be more than enough if your bills aren't likely to go up, but it would be hard to save much and live a little at the same time.

I'd say 25k between you would be more than comfy

You need to add up all your required spends (include any debt payments, car finance, all utilities including water, internet, tv license), all necessities eg food, cleaning products, toilet paper. Travel/petrol costs. Insurances. Any cover you have for pets or dental costs.

Then add on an amount per month for "gifts" - this will of course be variable depending on who you might buy for and whether or not you like to be lavish at Christmas but it's probably between 50 & 100 a month.

Then add on an amount for socialising, an amount for holidays, an amount for saving etc.

You nearly always need more than think if you don't want to feel hard up.

I'd say 40-50k minimum but then I'm from an affluent part of the south east, your costs might be lower locally.

Then add on an amount per month for "gifts"

Really? It’s never occurred to me to do this, and I’ve never needed to.

Moneysavingexpert has a budget spreadsheet which is great for calculating all costs

I spend between £100 a year on presents, including Christmas. I don’t have children but I do buy for a lot of family and friends, it’s not difficult to get something nice and meaningful for £10.

If there is a £100 monthly budget for presents, I’d say that person is very comfortable.