Page 13 | Could you survive on 1k?

JaneFondue · 06/04/2023 14:00

Yes I could. But that's because we
Don't eat meat or processed food. Food and groceries is about £85 a week for 3.
Don't drink
Don't run a car.
Don't have young DC who need clothes and shoes
Don't do beauty treatments
Buy in charity shops.
Entertainment is free museums or galleries rather than pub

Original poster

coffeeanteac · 06/04/2023 14:06

Thanks all some interesting perspectives from no to its a fortune.

Thanks to everyone who posted even those that think I am scrooge Mcduck when in reality I am on an average salary in a basic house with nightmare parking.

But yes I am lucky to have this.

OP posts:

JaneFondue · 06/04/2023 14:08

CoL is a fraught topic these days! I think it's unwise to look at other people and try to do as they do, because we all have different needs.

diflasu · 06/04/2023 14:08

it’s an awful position to put yourself in voluntarily.

The Op is talking about £1000 a month after all big bills paid - though she would have to cover food and petrol from it.

So it's nowhere near as bad as we went though - though her DD is older so more likely to notice and downturns in lifestyle.

Just depends on where their money is going currently - and what if any cut backs they are willing to adjust to and what kind of cushion they already have with savings.

diflasu · 06/04/2023 14:18

If budgeting with spread sheet and note book is to inconvenient there are money app out there. Keeping track will help give you the information you need to make an informed decision for your family.

More drastically - mortgage payment holidays or switching to interest only mortgages might give breathing space for set periods with obvious downsides - I knew one family who did first so more time with young child and another family do interest only while doing up a house then switched.

https://www.theguardian.com/money/2021/jan/09/budgeting-apps-best-money-personal-finance-tools

Budgeting apps: the best options for tracking your money on the go

The lowdown on the pros, cons and fees involved if you want to use such personal finance tools

https://www.theguardian.com/money/2021/jan/09/budgeting-apps-best-money-personal-finance-tools

TMess · 06/04/2023 14:24

No. We eat and drive too much.

Throughalookingglass · 06/04/2023 14:30

A pp mentioned the mortgage. Rising interest rates is something you have no control over unless you are on a fixed rate? . Our electricity/gas bill is now £500 a month when last year it was £350. What happens if you need go replace your shower/washing machine/dishwasher?

There will be people from all walks of life, some who choose to live frugally and others who have no other choice.

I remember reading a thread where about a poster said she didn’t flush the toilet in her house and instead plodded upstairs with a bucket of water she had washed up the crockery in. She seemed very happy with her lot and if it’s a lifestyle choice and you prefer watching savings increase in the bank, it is very different to not having the money to spend and the choice being made for you.

OopsAnotherOne · 06/04/2023 14:39

I'm in a different situation in that I'm in my early 20s and still live with my parents as I'm saving for my own house, plus I don't have children to provide for like other posters do. But yes, I would LOVE £1000 after bills to live on and currently survive on much less.

My salary is just over £1600 per month but after tax/pension/NI my take home is around £1370. £600 immediately goes into my savings account, I then pay £350 rent to my parents to cover my portion of outgoing bills and any food of theirs that I eat. The remaining £420 ish is then for me to buy food/groceries, petrol, car insurance/tax, paying my mobile phone bill and other bills. I often have £100-£200 spare at the end of each month from this amount that then goes into my savings too.

I can survive on this but also I can't afford to live a life of luxury. I don't go for meals out, have a packed lunch every day at work, drive a 2009 car, all my clothes are from the charity shop and I don't have any beauty treatments such as hair or nails. Any days out I go on are cheap/free and I just live within my means really, I don't have any debts and if I can't afford something I'll save up for it and buy it when I can afford it.

My finances would also be much tighter if I owned a home and had to pay in full for the council tax/utilities/mortgage rather than just my 1/3rd share from a household of 3 adults. It would also be a struggle for me to support a child on this income too but I could make it work if necessary (although I don't plan to have kids for at least 5 years). I can't really afford to get a mortgage of my own until my salary increases (which it will do when I qualify in the profession I'm training in) but living on much less than £1000 to cover petrol and food etc is completely possible and a lot of people live on this, and much less, each month rather happily.

GoodChat · 06/04/2023 14:41

@OopsAnotherOne don't try and compare finances with others here when you're saving £6-800 a month.

milafawny · 06/04/2023 14:58

OopsAnotherOne · 06/04/2023 14:39

I'm in a different situation in that I'm in my early 20s and still live with my parents as I'm saving for my own house, plus I don't have children to provide for like other posters do. But yes, I would LOVE £1000 after bills to live on and currently survive on much less.

My salary is just over £1600 per month but after tax/pension/NI my take home is around £1370. £600 immediately goes into my savings account, I then pay £350 rent to my parents to cover my portion of outgoing bills and any food of theirs that I eat. The remaining £420 ish is then for me to buy food/groceries, petrol, car insurance/tax, paying my mobile phone bill and other bills. I often have £100-£200 spare at the end of each month from this amount that then goes into my savings too.

I can survive on this but also I can't afford to live a life of luxury. I don't go for meals out, have a packed lunch every day at work, drive a 2009 car, all my clothes are from the charity shop and I don't have any beauty treatments such as hair or nails. Any days out I go on are cheap/free and I just live within my means really, I don't have any debts and if I can't afford something I'll save up for it and buy it when I can afford it.

My finances would also be much tighter if I owned a home and had to pay in full for the council tax/utilities/mortgage rather than just my 1/3rd share from a household of 3 adults. It would also be a struggle for me to support a child on this income too but I could make it work if necessary (although I don't plan to have kids for at least 5 years). I can't really afford to get a mortgage of my own until my salary increases (which it will do when I qualify in the profession I'm training in) but living on much less than £1000 to cover petrol and food etc is completely possible and a lot of people live on this, and much less, each month rather happily.

Lol. Its not a different situation thats a very unique privileged situation that most people do not have ever in their lifetime. £350 for rent must cover all your bills and most of food if you still have a spare £200 to put in saving on top of the £600 you already save. Your situation is so far removed from normal life and not comparable at all.

ReneBumsWombats · 06/04/2023 15:44

OopsAnotherOne · 06/04/2023 14:39

I'm in a different situation in that I'm in my early 20s and still live with my parents as I'm saving for my own house, plus I don't have children to provide for like other posters do. But yes, I would LOVE £1000 after bills to live on and currently survive on much less.

My salary is just over £1600 per month but after tax/pension/NI my take home is around £1370. £600 immediately goes into my savings account, I then pay £350 rent to my parents to cover my portion of outgoing bills and any food of theirs that I eat. The remaining £420 ish is then for me to buy food/groceries, petrol, car insurance/tax, paying my mobile phone bill and other bills. I often have £100-£200 spare at the end of each month from this amount that then goes into my savings too.

I can survive on this but also I can't afford to live a life of luxury. I don't go for meals out, have a packed lunch every day at work, drive a 2009 car, all my clothes are from the charity shop and I don't have any beauty treatments such as hair or nails. Any days out I go on are cheap/free and I just live within my means really, I don't have any debts and if I can't afford something I'll save up for it and buy it when I can afford it.

My finances would also be much tighter if I owned a home and had to pay in full for the council tax/utilities/mortgage rather than just my 1/3rd share from a household of 3 adults. It would also be a struggle for me to support a child on this income too but I could make it work if necessary (although I don't plan to have kids for at least 5 years). I can't really afford to get a mortgage of my own until my salary increases (which it will do when I qualify in the profession I'm training in) but living on much less than £1000 to cover petrol and food etc is completely possible and a lot of people live on this, and much less, each month rather happily.

You're young, single, childless, living rent free with parents and saving between £600 to £800 each month on a take-home pay of £1370.

That's absolutely not a criticism - I think you're being very sensible and will get the results you're working for. But I don't think it's a comparable situation.

psychDr · 06/04/2023 19:52

No. Our monthly food bill is in the region of £850-1k per month. Then we spend around £300 each on fuel (long commutes). So there's £1400-1600 on food and fuel alone per month.

Albiboba · 06/04/2023 19:58

@OopsAnotherOne But yes, I would LOVE £1000 after bills to live on and currently survive on much less.

As a 20something with no dependants and actually still being a dependent living with mummy and daddy, paying only basic board I somehow don’t think your experience of what you ‘survive’ on is really relevant!

Maple2023 · 06/04/2023 20:07

OopsAnotherOne · 06/04/2023 14:39

I'm in a different situation in that I'm in my early 20s and still live with my parents as I'm saving for my own house, plus I don't have children to provide for like other posters do. But yes, I would LOVE £1000 after bills to live on and currently survive on much less.

My salary is just over £1600 per month but after tax/pension/NI my take home is around £1370. £600 immediately goes into my savings account, I then pay £350 rent to my parents to cover my portion of outgoing bills and any food of theirs that I eat. The remaining £420 ish is then for me to buy food/groceries, petrol, car insurance/tax, paying my mobile phone bill and other bills. I often have £100-£200 spare at the end of each month from this amount that then goes into my savings too.

I can survive on this but also I can't afford to live a life of luxury. I don't go for meals out, have a packed lunch every day at work, drive a 2009 car, all my clothes are from the charity shop and I don't have any beauty treatments such as hair or nails. Any days out I go on are cheap/free and I just live within my means really, I don't have any debts and if I can't afford something I'll save up for it and buy it when I can afford it.

My finances would also be much tighter if I owned a home and had to pay in full for the council tax/utilities/mortgage rather than just my 1/3rd share from a household of 3 adults. It would also be a struggle for me to support a child on this income too but I could make it work if necessary (although I don't plan to have kids for at least 5 years). I can't really afford to get a mortgage of my own until my salary increases (which it will do when I qualify in the profession I'm training in) but living on much less than £1000 to cover petrol and food etc is completely possible and a lot of people live on this, and much less, each month rather happily.

I live alone with just a bit over that wage (take home between £1400 and £1600)
So mortgage, c tax etc

BluebellBlueballs · 06/04/2023 20:10

I could if I pared things down to the bone. If wouldn't be much fun.
But you didn't ask about fun
You asked about survive

So yes

XenoBitch · 06/04/2023 20:10

I have less than this to live on.
To have £1000 after everything has gone out... I would feel like I had won the lottery.

SleepingStandingUp · 06/04/2023 20:15

Oops Another One you're putting £700-800 a month into savings, you're choosing to have very little to spend each month. I'm not knocking you, it's very sensible but the "ooh I wish I had so much money" doesn't work. You bring home £1370. You pay 350 in bills. You LITERALLY have the same amount free but have the luxury of not spending it.

Albiboba · 06/04/2023 20:15

XenoBitch · 06/04/2023 20:10

I have less than this to live on.
To have £1000 after everything has gone out... I would feel like I had won the lottery.

It’s not after everything though, it doesn’t include groceries, petrol for commuting or any bills that aren’t monthly.

SleepingStandingUp · 06/04/2023 20:15

Oops Another One you're putting £700-800 a month into savings, you're choosing to have very little to spend each month. I'm not knocking you, it's very sensible but the "ooh I wish I had so much money" doesn't work. You bring home £1370. You pay 350 in bills. You LITERALLY have the same amount free but have the luxury of not spending it.

@OopsAnotherOne

RoyGBivisacolorfulman · 06/04/2023 20:17

psychDr · 06/04/2023 19:52

No. Our monthly food bill is in the region of £850-1k per month. Then we spend around £300 each on fuel (long commutes). So there's £1400-1600 on food and fuel alone per month.

Do you have a big family?

Theaxiomofequality · 06/04/2023 20:19

My food bill alone is £1k (2 adults 3 children) so no I could not.

psychDr · 06/04/2023 20:20

@RoyGBivisacolorfulman

We are a family of 4: 2 adults and 2 children (youngest still in nappies), and a cat. The food cost covers everything though, not just food - it's toiletries, washing and cleaning products, etc.

Mammyloveswine · 06/04/2023 20:22

coffeeanteac · 06/04/2023 08:55

If you had £1000 left after the main bills.

Could you survive on £1000 for food amd petrol and everything else takeaways, gifts, fun.

DH thinks most families couldn't. I think it should be ok. There are only 3 of us and we all live about three miles away from work and school.

are you taking the piss?

psychDr · 06/04/2023 20:27

Theaxiomofequality · 06/04/2023 20:19

My food bill alone is £1k (2 adults 3 children) so no I could not.

Glad it's not just me 🙈

OnaBegonia · 06/04/2023 20:39

There is no need for £1000pm food bills, £33 a day on food is more than easily cut back.