To think £120 a week is not enough to live on?

[FedUp120028]

So, following an abrupt change in circumstances after food, bills and clubs for the kids I have £120 p/w to live on. I have a 2yo and a 7yo.

This needs to cover treats, Christmas and social life, holiday fun (either a trip or activities) for the next year.

Is this doable, aibu to think it's not? It doesn't seem like much at all. Tips and a reality check please!

Outside of food bills etc I’d say it’s fine to be honest. I always look at eg Christmas lists on mn and think there’s way too much big expensive gifts, I mean they have 5 or 6 big things. Kids don’t need that, some of the smaller stuff appeals much more!

It's plenty for day to day. But Christmas and going on holiday will be harder. Going on holiday more or less not possible. Unless camping.

It's doable I think, but people are forgetting there's a class of expenses that aren't bills but are essential not "fun": clothing, any extra household expenses, things like that. You have to make sure to have a fund for that so you don't get surprised when the kids outgrow all their shoes or the boiler breaks down.

Yes, and there is no need for lots of 'tat' that just ends up being thrown away! Be selective. Focus on the most long term fun for your pound

Your two year old won't notice if you knock theirs down to 25, and I dunno how £100 qualifies as mean for a 7 year old. There are lots of cheap toys on FBM

It sounds like you are getting sorted anyway.

Good luck w it -

Whaaaat yes you are naive.

I never spent more than £100 on my kids' birthdays at that age, aside from once buying a really good (second hand) bike. 2 year olds don't even know what birthdays are!

Do a party at home, simple catering like sandwiches and party rings, small numbers. Homemade cake. Presents off FB marketplace or Vinted.

Holidays can be super cheap - camping or holiday parks near the beach is good.

Yes it's tight and you'll have to cut your cloth.

Do you own a house as that's where big costs can come unexpectedly. For example in the past 10 years we had to have our boiler replaced, new washing machine, new dishwasher new fridge freezer, new front door, house insurance went up massively after an issue too, alongside other essential maintenance. Probably £8k all in if not more.

Seems fine to me after bills, food and clubs! I don't see why you can't spend more than £100 on birthdays - I've never had that much spare and I spend double that at least.
You don't need to spend the full amount every week, surely? Some weeks they'll be some leftover.

I guess we are mean parents then because we "only" spend 100 £ on our kids birthdays. We could spend more but if they don't ask for anything major (that we agree on like bike, tablet etc) then 100 is largely sufficient. Even more so for a 2 year old! Mine are 12 and 15.

I agree!

Agreed, some of that needs to go into rainy day savings. I think the point is whatever is left over for fun is a bonus. We have all been fed a line that 'fun' consists of spending money and keeping up with Instagram.

This week DD and I have set ourselves the challenge of photographing something during the day that makes us smile (our SIM only deals for calls and some data are included in the essentials), in the evening we share our photos (and if necessary explain why we laughed!). It has been great fun.looking out for photos and choosing which one is my favourite.

So if you have £120 pw - you have £6240, so almost a £1000 over this budget? This doesn't fully add up.

2yo and 7yo don't need £100 presents. Unless you get them something like a bike one year. I don't want to sound like a competitive cheapskate but I genuinely don't know any parent who spends that much on small children on their birthday unless it also covers the cost of the party.

You just have to prioritise. What are the things you want to do as a family? Look up fun free stuff to do and use money on the things you really want.

Does this include savings? If not, budget for that aswell

If you can't have your fun things,presents and holidays on £120 a week there's something wrong. We have less than that after bills,fuel and food shop and manage all the above

I used to have a friend with a rich ex so their children went to expensive private schools.

Their 9 year old went to a birthday party themed Hollywood Red Carpet'. Children (and parents) to dress up, photographer taking photos as they arrived on the red carpet, cocktails for parents and mocktails for the children.

It must have cost thousands.

She grinned and put up with it and made polite conversation with other parents.

On the way home she asked her DD if she (DD) had had fun in an encouraging way, expecting her DD to say it was great. Her DD said 'yes, but after a while it was a bit boring'.

For her DDs birthday she did a treasure hunt and picnic in the park. The same bunch of girls spent a couple of hours running around and screaming with laughter, for a fraction of the cost

Im spending a bit on my 8yo birthday this year but that's only because I promised her a real labubu. But she knows they are expensive so it'll be that, maybe a switch game, cake etc. Think I spend 30 on my 4yo birthday this year and she was delighted.

Everything other than savings yes

What did you buy for £30? Tell me pleaseee!

It's more than I have left after bills but before food. You'll be fine. The basics are covered, this money is for wants and treats only.

Went to home bargains and got a princess dress up set, Colouring things, a light up gabbys dollhouse thing and a set of unicorn headphones. Oh and a mermaid dolls set.

I didn't really look in detail at the ai budget. Used as a template but looking at that ai budget they've only used £99 pw.

Stop using AI and do a proper budget yourself, with a pen and paper and a calculator. Then you'll understand it better.

If you really do have £120/week spare money, then there's no problem apart from mindset.

@FedUp120028 you must see that there are masses of things you can buy as presents for a 7yo and 2yo that cost £30 or less. Have you switched from having as much money as you can spend? - if so I can see why this looks like a struggle.

My DC are way older but for a 2yo I might have bought some toy cars, or a Brio train, or some Duplo, or a jigsaw puzzle. For the 7yo a Lego set, a dressing up outfit maybe, an action figure or two, some Playmobil. All under £30 new and if secondhand then even cheaper. Not every possible present costs £200.

£780 for DP and 2 kids birthdays?

Do the MSE budget planner https://www.moneysavingexpert.com/banking/budget-planning/#spreadsheet

I think it's tight if it's got to include Christmas, birthdays and holidays to be honest. What about clothes or emergency home repairs etc, do you have savings for these?

It's could be manageable if short term though although not much fun.

It's not loads, not going to pay for expensive holidays, but don't think it's an unreasonable amount after all the bills have been paid.