To wonder how other families get to the end of the month?

[gundigirl]

DH and I are both middle earners, with a combined income of around £90k. We have one DD in state school – no fees, but she does a few clubs and after-school activities, which add up.
With the rising cost of living, I’ve had to take on a side hustle. I actually enjoy it, but still – without that extra income, I wouldn't have been able to cover recent repair bills, for example.
I honestly don’t understand how other families (especially those with two or more DC, or just one working parent) make it to the end of the month. I’ve never felt more financially squeezed.
I’m not exactly a super-saver – I like the odd hair appointment – but I do try to save or invest a bit each month when I can.
What am I missing?

You should be ashamed and embarrassed to post this - staggering

We’re in the same boat. Similar income, similar outgoings (2 children multiple after school activities) But we also did a renovation (through remortgage) last year which went over budget so now we also have no savings and credit card debt on top 🙃 but a lot of equity in our property.
I feel like every time something good happens… like if we get a promotion… something else comes along to wipe it out… mortgage interest rates. We’re working so hard and “it will get easier” is just not coming.

If you spend in a sensible way then there is no need for extra jobs on what you earn. Unless you have a large mortgage a fancy car or exotic holidays

Single parent managing on a third of that. You are overspending and you need to overhaul your finances to look at where the money goes and what you can cut back on - just like everyone else needs to do. You have probably lived life spending to your means. Everything has gone up so now you are feeling the pressure. So you need to review down your spending. Its fairly straightforward and seems obvious. There are many ways to save money. Martin lewis has a process on his moneysaving expert website to help you review your monthly spending

You probably have a fairly large mortgage is all I can think

What an interesting post (which I could have written myself, except that we can't afford the gym, pool, or acting school)! It probably explains why Reform is doing so well in the Polls, as well-off (but not wealthy) families in higher-paid jobs are struggling to maintain a comfortable living.

OP - there is a big gap in your numbers. A PP estimated that your disposable income is £72k (£6k pcm) but you itemised spend of £21k. I'll estimate £5k for the holiday, & cars are a money pit - £1k - £2k depreciation p.a. before you start running costs, I suspect each car is costing £3k p.a.. Total Spend of £32k p.a - £40K p.a. MISSING.

If you seriously want to overhaul your finances find out where the majority of your money is going, and then decide whether you need to keep spending it.

To help you this is what we did:

We no longer shop in Waitrose (Aldi & Lidl do the job). In no way do I suggest that Waitrose isn't great value for money, but some of the Aldi & Lidl stuff is every bit as good, and there is a reason why Tesco & Sainsbury are price matching Aldi. (Personal tip - Aldi Porridge is better than Waitrose best).

UK Holidays. Especially Camping.

Energy saving - PV panels, & House Batteries are saving £300 pcm

Public Transport (selling the 2nd car - see above).

Walking/Cycling instead of the Gym.

£90k is actually about £60k take home. No benefits. Mortgage and everything else. Some of that higher tex. not as good as it seems.

They don’t for the salary

around £1000 if you read op replies

Are you on benefits. How much is your mortgage? Money must be quite tight

This is pretty much exactly us too, although our income is more like 110k combined. I echo the surprise at how you’re struggling on 90k??

£180 a week on shopping? Where do you shop?? We’re a family of 4, one toddler and one reception child and we spend half that a week at Tesco. What are you buying??

The £180 UC includes all benefits including housing. My partner covers our rent.

As others have said there's a big gap in your expenditure, as based on that you have plenty left over every week.
Are you sure youe mortgage and all bills are only 1500? Sure not higher if you include water, gas, elec, council tax, house and car insurance? Any loan/debt repayments? Then mobile phones, broadband, Netflix spotify or other ent subs? Car finance? Petrol?
The cost of living is high when you add all this up. I think maybe you haven't truly totted it all up?
Your food shopping is super high, that'd be easy to cut down. £100 for gym is high unless you are using it more than 8 times a month you may be better to pay as you go elsewhere.

The breakdown is relevant bc two similar salaries like that will bring in more money than one very big one and one very low, very PT one.

For example neither of you will be paying the higher rate of income tax, whereas if one of you earned (say) £75k they would be paying 40% on a good chunk of that.

So you will have more net income than you might do – which is why people were asking for this breakdown.

Not sure what you want from this @gundigirl – advice on how to cut back? I mean I and others have suggested lots of ways, which would be easy fixes. Food bills could be cut, DD could do a much cheaper drama class (Stagecoach is ££ I think), gym could be half that price.

Or are you more thinking – gosh how come we are not rolling in it with these incomes? I think a lot of people are thinking that now. And looking at ways to cut back.

Yes but someone asks something genuinely and there was no need for you to be horrible about it. There was no need to be judgemental. That's why she sighed at your previous comment.

We have a combined income of 90k. We’re going to pay our mortgage off in 10 years, and can still go abroad several times a year. We’re veggie, cook our meals, live in a small house and don’t spend money on clothes, tech, grooming, or cars.

You'll get no sympathy on Mumsnet as you can see. But I totally understand.

Where once we could afford most things comfortably (food , heating, hobbies) now we are struggling to get through the month with a strict budget. Thankfully we have a bit to put in to savings each month which is now being used for day to day expenses. But it's getting harder and more uncomfortable.

OP we have a similar income 50 and 40k and I’m happy to share our breakdown.

Most bills (mortgage/ food / gas etc) we pay out a joint account with £2100 each month. Mortgage is £920, council tax £240, Electric/ gas £140, internet £40 the rest is food and others.

We have kids in after school club and sports / clubs.

We might occasionally pay for something extra like a meal out of our solo accounts.

Cars we save up and pay in cash to avoid monthly costs so very similar.

In a good month where we don’t have a car service etc we can save 500-750 a month easily.

The one thing we don’t do it spend a lot on clothes and things compared to my sister I’ve noticed

In what way is nearly 3x average uk salary based on a household of 4 people "marginally above average".

90k is a very, very decent amount of money. To feel stretched at that and with the low outgoings OP has stated means there is some really shit money management going on.

You are amazing = £90/week = £12.10/day for a family of 4 - feeding everyone for £3/day each?

Are you married to Lee Anderson?

But yes - we all need to start growing our own vegetables where the lawn used to be, and if anyone wants tips on making Keffir, just message me.

I live on way way waaaayyyy less than that poor to mumsnet but im doing just fine.
And tbvh i dont feel the pinch like others.

I’m a single Mum and I have 3 children.

I earn £25k and my income is topped up by universal credit. I take home approximately £3200 a month in total. My rent for my small 3 bed house is £1400pcm (below market value, it should be £1600pcm).

It’s honestly so depressing. I get no other additional support because “my income is too high”.

Chose to settle in cheap part of the uk and went for house in an up and coming area.

We did that as well. Still struggling though.

Maybe for some, but not my family and we knew others where both parents were working.