Why if we brought in 40k last year can we not afford a holiday ?

[Lonelybunny]

I can't believe after looking at p60's we brought in 40k where does the money go exactly? We have 3 dc under 8 no child care costs we rent but seriously I can't afford to save ? I must b doing something wrong seriously !?

If you have young children though its far more usual (around here anyway) for one parent to work part time or to stay at home for a while. Many people earn less than teachers. I guess it depends on where you live. I'm se but 40,000 would be seen as a 'good' income around here in terms of ability to earn. Maybe not so great in terms of how expensive everything is but surely more families are on tax credits than not (limit of 40,000)?

I mentioned teachers because someone below said they know lots of people who earn less than that , including teachers .

I just think the OP is not that unusual in being unable to afford a holiday on that income .

I would have thought to most families a SAHP is a great luxury and that during that time you could accept that holidays - which are a luxury - are out of the question because you have the greater luxury of being a SAHP.

Being a sahp is only a luxury if that parent would earn enough to cover the cost of childcare.

We earn the same as you Lonelybunny , have 2 children and save £500 a month towards a house deposit - that will probably take too many years to save up for, but that is another story - our rent and bills come to about £970 a month but we seem to spend a fair bit on food and petrol.

We never have any money left at the end of the month (except the £500) and the last week of every month is always tight, a lot of jacket potatoes

We never go on holiday but I really, reallly want to go somewhere this year, really want to save £500 a month though so it is not really possible.

I think we manage well but live in a very affluent area so tend to feel poorer than we actually are iyswim.

Our DDs have packed lunches every day except Friday and DH and I always take food from home to work.

DH is not great with money either, he will take £20/£30 out of the cash machine and think nothing of spending it on food for him and friends or whatever (he doesn't drink though) whereas I would never do that. Seem to be spending a bit more these days on face cream and stuff though (40+ icon)

Yup -it was me who mentioned teachers. I can't afford currently to return to work due to childcare and associated costs. I did look at a few part time jobs but they were spread out over the week, so childcare for 2 children would not work out.

Anyway, the point was simply that many families (most?) would earn less, not that it suggests a life of luxury. Certainly with the rise in cost of living and housing money doesn't stretch as far as it did. A lot will depend on when /if you managed to get on the housing ladder too.

We haven't had extravagant holidays but certainly holiday - mainly camping!

We too love camping :) £20 a night do able if I can save a bit .

Are you doing your spreadsheet this weekend op?

OP I feel for you. Your joint income isn't a lot in the SE. If you are both paying into pensions at work then your joint take home pay is circa 2500.

£2500 less
£300 bills
£450 bills
£675 mortgage
=£1425

That leaves just over £1k per month but easily spent on (this is just an estimate but similar to my outgoings)

£350 groceries for 5
£200 petrol & travel
£100 hhld costs
£50 school related costs
£150 entertainment including takeaways and coffee
£100 clothes for all 4
£50 misc
=£1000

That leaves you £75 to do what you like! That sort of spend isn't excessive the reality is that 40k combined income isn't a lot. If you have 3dc though you should get +£200 pm in baby bonus.

You've got a choice - cut back or look for better paid employment. If you have kids you really must get a better hold if your finances.

Wilhelmina, your entertainment category is also to do with what you like. And £100 a month on clothes? It might not be a huge wage, but there are lots of choices to make there.
The problem is, we don't want to choose between takeaways and savings, or between clothes and holidays.

IWipe.

If both the OP and her husband work they need clothes for work and her kids need clothes plus school uniforms. I can't see how 100/5 or 20 pounds per month per person is excessive.

I tend to buy a few new shoes per year, a jacket and a few dresses. Her husband will need to replace work clothes as well. There is no vale in buying work clothes at primark. Kids shoes are expensive.

100 is definitely excessive for clothes. Food for 5 for the month should be less than 350 with meal planning. There are lots of ways to shave money off. If the op goes on money saving expert and copies there statement of affairs format we could help.

My husband hasn't bought a new shirt in about two years, we each get one or two new pairs of shoes a year, when they wear out. I haven't bought any clothes for my two year old daughter yet, people like buying pretty clothes as gifts for girls and there's plenty of hand me downs from her brother. If we've spare cash I might them some extra bits. I spent about £30 on ds uniform last year. £1000 a year on clothes is a choice you make. We could go on holiday 5/6 times for that.

We were in a similar position to you a few months ago op. we have a joint income of £36000 so a bit less, but our mortgage is less than your rent (about £400 pm though that could go up if interest rates rise).

We were in debit every month - dh ended most months between £700 and £1000 overdrawn and I was a couple of hundred overdrawn too.

We took stock of finances and spending in January and realised we were spending loads on coffees, meals out etc and also not planning weekly supermarket shops effectively. I was popping to tesco most days!
All we did initially was to meal plan and cut down to eating out once a fortnight but to cheap places using clubcard vouchers. This alone saved us a fortune and we started to claw back the deficit.

Then dh looked at all our bills and found cheaper alternatives for many of them. We have never had sky, just free view.

Now we are both used to the new way of living and I kid you not - in 6 months of budgeting and tracking spends we will now end this month both in credit by a couple if hundred! Not long until we can start saving regularly! I never would have thought this possible before. And we do not feel deprived at all. Still have nice food - I cook something nice at home on our Saturdays in (eating out was our main luxury) and I quite enjoy my weekly shop planning and list making! It might all go to pot soon as I'm facing a large pay cut :( but I am confident we'll still be ok.

My point is, it can be done - just a look at all spending and analyse everything and you'll be surprised. Start small if it seems too daunting - start with looking at one thing, food/meal planning, or clothes, or bills - and see what you can save there, then move on to the next thing.

Good luck!

I wipe where are you going on holiday? Primark?

Sorry but men's shirts wear out and get ring around the collar etc and need to be renewed. More than every 2 years.

Honestly kids shoes and jackets are expensive and sorry but I don't think kids second hand shoes don't do the trick

Youre right - it IS about priorities as id rather buy good shoes that don't fall apart and clothes that look professional over a few crap weekends away with the family at Butlins or at a wet campground.

But Iwipe a MN martys medal for you. I know you want one!

Someone will post in a moment that they feed a family of six for a week on a small Asda smartprice chicken.

I suppose if you camp or you have your own caravan you may be able to do it?

Iwipe and all just wanted to say my last post was just a bit of gentle ribbing.

I do get tired of posts on MN where posters start competing and upping each other on their frugalness: ' I haven't bought new clothes in 5 years, eat lentil soup everyday and my children share socks.' It gets dull fast...

Train to my Dad's. That is the only place we ever go on holiday though. We'd get a couple of Butlins trips out of that at least.
I don't buy second hand shoes for the children, generally went to the Clarks outlet before, though I'm getting some online that are better for their feet from now on. Not cheap as I have my priorities. Their grandmother generally buys them a coat for birthdays, Christmas, which is lucky I suppose.
I think one of DH shirts is from C&A. He is lucky I suppose, his boss doesn't seem to mind what he wears as he's so damned good at his job.

Lot of snobbery about Butlins, camping etc. someone up thread mentioned city weekend breaks not counting? yeah right.

Op you can definitely afford 2 weeks away just by a little cutting back. You just need to be organised.

I know people do tend to out-reverse-snob each other a lot n MN, but there's a lot of genuine snobbery on here too. Lots of times people don't even realise they have that privileged position about something.
I just like to point out that nobody is forcing you to do x,y,z

If staying with your dad is a holiday that means I have 13 holidays a year (main holiday and then 12 'holidays at my Mum's house)