How much are you earning a week?

[saveyourtears4]

I own my own business, on average I make £4500 before tax a month (I work 18-22 hours a week) and my outgoings are £1000. £600 for business bills, £400 house bills. (My partner pays our mortgage). I have 30 free hours funded childcare and child benefit for 2 children. I honestly don’t know where my money goes. I’m left with nothing at the end of the month. It’s half term, I have spent £255 on food shop alone, that doesn’t even include what my partner has spent on food. My partner earns £4000 a month after tax. We have nothing left. How are people managing? what is the average monthly wage in the uk?

She’s not coming back. No idea why people start threads and don’t come back. Short attention span? We’re in the wrong tax band to be mixing with her sort? Not in fact human, one of those digital miasmas with its own data harvesting life purpose?

I keep it in my notes on my phone…always to hand so I can adjust accordingly every quarter 😂

Well i earn a quarter of what you do and am managing fine so you seriously need to figure what you are spending on. Do you have a lot of debt, cars on finance etc

£875 per week net after tax, NI, work pension and private pension. Generally have £1K left over at the end of the month unless I'm making a special effort to be frugal. (no kids at home, no mortgage, no debt so at a totally different stage of life to you).

Do a forensic audit of your spending over the last 6 months and work out where it's all going, you're hemorrhaging money somewhere.

Always amazed by people with a decent household income but are financially illiterate.

If you really don't know how it's getting swallowed up, look at your last few bank statements and credit card bills. If you buy things in cash, what do you spend it on - essential bus fares, or regular takeaway coffees/snacks etc. Look at everything, can it be cut back. ie, mobile phone - ours are paid for up front and we payd £6pm, others will pay £30pm. Are you running an really expensive car? etc

Due to really ill health my wage has now dropped to £328 a month (they’ve halved my hours). I’m considering quitting for a few months whilst I recover as the stress of actually working for so little is enormous! I’m tired all the time and waiting an operation. However I manage fine financially. Currently just me one teen and one 6 year old. I’ve already sorted Xmas and all bills get paid on time. It’s all about perspective I guess.

How many bills are you managing to pay on £328 a month?? You must have another source of income or support?

What do you do OP for your business? I am looking for inspo

Between you both you have over £7k a month yet you are skint And no money next over

as usual write everything down you/dh spend

The cost of living crisis is utterly awful. I hear about people shoplifting and flogging cannabis to make money all the time from the grapevine plus taxi drivers on the way back from my weekly food shop.

Luckily I have no need to resort to these pursuits myself but it is very widespread.

It seems to be single incomes more than couples/families from what O can tell.. Worrying.

I have cut down my personal spends a great deal. Skincare vitamins etc. This is helping me somewhat. Some months I only need to spend £120.

I’m not going to say how much I earn but after all bills etc have gone out I have £200 for the month for spending. I just budget £50 a week. I use a bank where I have a holding account and a live current account and each week the holding account releases £50 into the current account so I can’t spend any more. Two kids under 4. We live very comfortably but it’s all about budgeting. If I need new clothes, we go to the charity shop. If the kids need a day out, we either do something free (park, library, museum) or I save for a number of weeks to be able to afford it. Once you get used to spending very little, it’s easy. For example, we’re planning on going to a panto at Christmas. The tickets are £21 per person. So I’m saving a couple of weeks worth of £50 to be able to afford it. Free activities for us these two weeks! I get my new lot of £50 on Monday and this week I have only spent £5 (dd wanted a watermelon, £4.65!!!) so that’s £45 towards the tickets.

Of course people don’t lie. It’s an anonymous forum!