Mortgage and bills, what % of salary

[YesQueen]

Doing some calculations tonight, I've been approved for a mortgage (long, complicated story, it's not a great rate but it tidied stuff up and I can change to a better offer in 2 years)

To cut a long story short I pay around £220pm debt off at the minute, and the new offer will be £480 for debt AND mortgage so effectively £260pm mortgage

Totalling all my bills up so gas, electric, council tax, car, insurance etc etc plus the mortgage comes in at 50-60% of my salary roughly
That leaves the other 40-50% for what I haven't included - petrol and food plus personal spending like clothes/night out I prefer Netflix

Do this sound reasonable? It's just me and after bills I'm left with around £600-800pm (varying wage) for the above. I usually spend £200 a month on food/toiletries/cleaning and about £60 a month on petrol

I haven't included car service/MOT/savings/emergency fund so will need to stash some per month for that but it seems financially ok to me. My wage varies month to month as it's commission based

Sounds reasonable, all our debt, mortgage, bills and fuel make up 60% of our outgoings

Sounds good to me, I am sure you will be fine, after I have paid bills and food we are currently left with a minus figure. Which I am hoping is short term issue of couple of months, just not good has coincided with sch holidays.

It means no money for clothes or going out or birthdays or emergencies etc.

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Sounds good to me as long as you save every month etc for big expenses

Yeah I'm planning to stash some for emergencies. I have an empty credit card too plus options for home appliances etc and the cat is insured so hopefully I've covered everything!

I have bought our family home on divorce and my fixed outgoings are 65% of my income leaving the rest for food, petrol, clothing, life.

It’s ok, I do budget, haven’t had to for a long time, but it’s ok.

My tip for saving is to set up a standing order for premium bonds. Accessible but not too easily accessible and you never know you could win something. I do £100 a month as a house fund for repairs, renewals, decorating, etc..