Is £2250, month, enough to live in post all livings costs are paid for

[Isitenough2250]

I am very aware that I may get slammed, and I am
prepared. DP has had a terrible time at work the past few years, as we have both seen terrible side affects of what stress can do heart attack/ stroke/
severe mental health issues - we thought it best for him to leave the job. Having worked out our budget, post mortgage/ bills/ insurances etc being paid we have £2250 left a month. That is for two adults and a cat. Out of which is food and then life costs, as in choices - gym/ hair cut/ going to the cinema.

Having never had to budget ever, is this enough? Sufficent savings/ investments for emergencies…..it is 2250 that we have come up with for food and miscellaneous spending.

Am prepared to be roasted, also any budgeting tips appreciated.

We think it will be about a year.

You don’t deserve to be roasted. Some people need to get a grip, be quiet and move on. I really could be nasty etc, says a lot more about them than you. I bet they aren’t so nasty when taking money via taxes from higher earners. MN isn’t just for people who don’t work, claim UC or pensioners. Not that you’d know.

Op, I do think you’ll need to adjust in all seriousness - you’ll be fine though. Before people @me about not knowing the struggle. Bullshit, grew up in poverty, I’ve been homeless and raised myself from 16. More aces than a pack of cards. That said now, I’m successful. If our household income dropped to that - yeah we’d find it challenging. With the bigger salary comes the mortgage, lifestyle etc. I’d comfortably just spend what you have said on food, commuting, etc. We spend a fair bit on just getting to and from work, school, etc. It does easily go. If you’re used to not spending without thinking - it will take you time to get used to it. Definitely budget.

Does it have to be high stress job or nothing? Surely DH could get a job part time and bring in say £1000/month? Do you work?

It would be plenty for most people to live off but I guess if you have never had to budget it doesn’t sound much.

Ffs, how does someone get to this level of earning without the critical thinking skills to budget if £2k+ is enough fun money.

AFTER all bills? Yes, plenty. DD and I live on less than that INCLUDING bills.

In short, Yes it is more than enough to live on after bills and tax are paid

Is DP committed to zero stress for you ? Whats his/her long term strategy?

Your real issue (and I'll keep saying this) is not your short term £2250 a month budget after bills, BUT the way your DP has walked away from a high paying job with (it seems) no idea what he will do next.

It's different if someone is forced to do that with ill-health, but he's chosen to stop work as he was feeling the stress.

That's a very different scenario and one you aren't dealing with properly, other than 'he may go back to work in a year'.

Your first post was unclear. You should have had a full stop after '. DP has had a terrible time at work the past few years, - (full stop needed, not a comma) as we have both seen terrible side affects of what stress can do heart attack/ stroke/severe mental health issues -

They way it's written implies he's had a terrible time because he's suffered one of those , rather than an observation.

Oh, we do have a house at the minute, we were just looking at moving. The mortgage cost would have been more than we're paying now, which is why we dug down into what we spend at the minute.

My post was more around that I can see where the OP is coming from asking the question. On the face of it you look at an amount of money and think it seems like a lot, but the reality of that being less than you have right now, which doesn't feel like you have a lot to spare anyway, you do start to question how far it would go.

Of course it’s enough and many will earn less than that before bills, however, You need to decide what you consider necessary and what you can live without.

I suspect if you currently spend without thinking, you are probably spending more than that and will need to make some adjustments. Things that you take for granted - that regular manicure at £25 a pop, £15 weekly Pilates classes, nipping into M&S for dinner on the way home, weekly cleaner £60, meals out, birthday gifts etc all adds up if you’re not having to think about it.

download your bank & credit card statements and categorise everything, work out what you currently spend and then look where you can make savings.

Stop derailing. You don't know if the OP is renting so it's derailing to talk about your own circs as if she is.

This.

There are loads of posts on this vein from people who earn well but are apparently unable to do the simple addition and subtraction sums needed to know what they need to live on. Its incredible really.

And the only appropriate response to someone who asks if they can live on 2250 AFTER mortgage and bills and don't even have kids is ' Oh do fuck off'.

Sorry, OP but seriously?!

It really does depend. After all essentials I assume for many it’s more than enough. For me I can live off that but not the way I would like to live.

Yes, I am worried - I have never had to work out what I spend….

For a grown, up that is a shockingly immature admission@Isitenough2250 - I manage on that as take home and have received an At Risk Of Redundancy letter. I doubt I will be getting £2250 a month.

Vicky smith on Instagram/ YouTube has really simple, good budgeting advice that works for a range of budgets, not just super frugal. I found just going through my bank statements helpful - makes you realise where money is wasted on things you wouldn’t choose to prioritise if you thought about it. Some banking apps will give you a pie chart breakdown of categories you spend on e.g. 30% shopping, 20% entertainment etc

Are you the thread police?

I'm not derailing. Other posters are saying "of course it will work" or "we manage on less", and that's fine, I'm sharing my experience of looking at a similar budget and thinking the same questions around whether it would work.

£2250 is about what I earn per month after pension deductions. After mortgage/rent (shared ownership), bills, food, insurance etc I have about £100 left to live on! Over £2k to live on (or save/spend on holidays) for two people is incredible money compared to the majority of the UK.

If you're worried about budgeting, you need to write up a full list of every single expense (subscription services, beauty treatments if you get any, gym memberships etc). Obviously I have a much tighter budget but I try to track all of my spending.

You Need A Budget is even better than a spreadsheet.

https://ynab.com/referral/?ref=M1yh3-POcR992Zaa&utm_source=customer_referral

That's more than we earn in a month before bills and have four kids.

It is more than enough

Yeah and with 4 children how much more are you getting in top ups? A fair whack I’d say.

That’s a substantial amount for discretional spend. Lots of people would be very pleased to have that.

Just to check - this is £2250 after all bills etc have been paid? For 2 adults and a cat? And you’re worried this isn’t enough?
We have maybe £500 for 2 adults and 2 children, if even that, after bills have been paid. You’ll be fine.

Thanks so much for all the super helpful tips, I have been noting them am going to put most into action over the next few weeks.

Actually, we do know the OP isn't renting.

"Having worked out our budget, post mortgage"

I think if you've always had loads of money to throw around, then it can come as a shock to have to learn to budget. OP is just starting from a higher level than most people do when they first have to start out.

Whatever level it comes it at can come as a shock. OP, you will be fine, you just need to keep an eye on your outgoings a bit. Maybe have a month where you rein in the spending totally, to give yourself a base level, and then you can gradually spend a little more until you reach a level where you are comfortable. Not spending isn't as dreadful as you might think!