To think I should be able to manage with around £1500 a month?

[Elephanttrail83]

After my share of the bills are paid I am left with £1600. I have to get my petrol from that - which is around £120 a month so that then leaves £1480.

Out of this only has to come socialising, days out with the kids, clothes etc. I am trying to save £300 a month so I have a buffer / some money saved to take on holiday / for Christmas presents etc but I am usually down to my last £10 by pay day!

This is bad isn’t it? I can’t even tell you where it goes… but I should be able to manage with nearly £1500 shouldn’t I?

You need to list out where it actually all goes rather than guess.

You can use an app like moneyhub to get started, it can collate information from different accounts and will automatically categorise things (double check but it's a good start)

Spend a month writing down every single penny you spent. Either you are wasting lots, or there are other outgoings you aren’t taking into account.

Yes, as others have said keep a log of everything you spend

Yes, if that’s genuinely what you have AFTER bills are paid (does this include groceries, lunches, commuting) you absolutely should be able to “manage”.

Try writing it all down for a month, then have a no spend month - alternate this until you understand your spending habits.

Yes, of course you should be able to manage on that.

yes you most definitely should. I have similar left after rent and food and I manage to save 300-400 per month. It’s ok to be down to you last 10 if you are saving too. You didn’t make it clear…do you save the 300 or not?

That's loads does food have to come out of that

I couldn’t help wondering how many children do you have?

As others have said, buy a book, or use a spreadsheet and list everything you spend money on.

l buy everything online as it’s easy to keep an eye on spending. I set monthly budgets for food shopping , and clothes.

l suspect the money disappears when you take the kids out 😀

I'd fill the car up then put away the planned savings. Divide the remaining money into 4 and only transfer 1/4 into my current account each Friday monitor how much and what I've spent it on each day. Just taping a card makes it easy to over spend.

Do you have to buy groceries out of that?

I have approx £1200 - £1400 after savings but I need to buy food and fuel from this which accounts for about £400 - £500 so you should be fine with £1500 and £300 going into savings from this.

Well, it does depend how many children and how old they are. But yes, you definitely need an actual budget, and that means starting by listing exactly what you are spending.

How much are you spending on clothes, socialising and kids days out?
You'll need to cut back in some areas if you want to save.

I have similar. I contribute £500 to the joint account and then the rest is my own technically. However, I find that I buy food shops on my own card, smaller purchases for the home (so I’d buy a vase or get photos developed - bigger purchases like a new rug or wardrobe I’d run past my husband so I’d use his credit card for the points), kids stuff, my own socialising/coffees etc… it soon adds up. I always end up taking a bit back from the joint account - really I should just put the food shops through that account. I think you’re not unreasonable but if you’re finding you need to budget you should be able to tighten up by having ‘pots’ for different things and budget say £15 for treats at the weekend etc.

I suggest you visit Martin Lewis website there's a debt forum that has a statement of affairs calculator where you list all your expenses. For me it wasn't setting money aside for the 1 off expenses car insurance, a garage or dentist bill, school and club uniforms, kids birthday, Xmas or annual subs for kids activities. I pay almost everything by card so it was easy to look at my statement and list how much I was spending on food, treats, days out - it was probably around double what I had told myself it was!

Seems like loads to me, but I'm quite frugal and am not a big spender. I have about that much left after my contribution to the household and I save £1000 of it.

Well do you have an expense like a car payment or children in private school? Expensive school trips? Eat out twice a week? Hair salon trip and nail trips weekly? It’s soon adds up

I have roughly the same and wonder where it goes. The big additional spends
this months include
£300 air and b for few night away
£100 concert ticket for eldest
£100 school trip x 3 for youngest
£100 vets bill for dog
£100 birthday gifts x2
£75 dinner out with family for me and 2 teens
£100 clothes and underwear for daughter.

it soon goes.

Sign up for Internet banking and check it every day.

OP you have a 2 year old and a 7 year old. You could probably get away with spending £50 on their birthdays and they be non the wise. Look for the Christmas deals thread, lots of good bargains to be had for younger children. Trust me it's harder when they are teenagers and know the value of things more. Although second hand is always an option.

Oops somehow my reply ended up on the wrong thread.

Get an app and track everything you spend. Go through your bank statements. Work out from last year how much you spent in a whole year on birthdays, car, Christmas, insurance etc, then divide up enough each month to pay those things, £50 a month for Christmas say. That’s your budget. Does ir leave enough?

Automate your savings, so that £300 goes out as a standing order. Then you have £1200 left. Then divide it weekly, so you have roughly £300 a week.

Do bills include groceries or is that an expense as well?

You mention your 'share' of the bills. If that's sharing with DP/DH, is that a fair split that is done proportionate to both your earnings? Are you spending more on the DC than your DP because you are with them more?