How much is a reasonable amount of disposable income to have after paying fees etc?

[Rainbowinthesky]

How much would be the minimum if you have 2 kids (just one at private)you would need after bills, mortgage, petrol, food?

Completely depends.

Are you looking for a bare-bones and necessities only existence, or do you want some extras in your life?

Do you have savings or other funds in case of an emergency?

And - just curious - why only one of your two children in private school?

The other is much older and no desire to move schools. We couldnt afford 2 sets of fees - well it would be real bare bones!

I don't want bare bones but not fussed about luxeries. We have a tent!

We don't have savings but do have a grandparent who could be called upon in emergencies.

I'd start by making a list of the 'extras' you'd like to keep in your life if possible - meals out, holidays, clothes (beyond basic replacement items), food/wine shopping special items, haircuts/colours, books/films, etc, and how often you'd like to do them, and estimated cost.

Also compile a (monthly and annual) figure for things like home/applicance/car repair and replacement of things like computer, boiler, fridge, phone, etc. Then add in a miscellaneous category for occasional one-off items you will need/want to purchase (garden furniture, suitcases, bed/mattress, camera, etc)

Then total it up and see where you need to cut back, or have room to add..........or if you can do it at all with fees to pay.

Thanks early bird. Bump for evening crowd.

bump for friday night folks.

Blimey. So how long is that piece of string then?

It depends what you call essentials. Do you call a pension an essential? I would. What about savings? Maintaining the house? Holidays? Cars? Funding the DC's university education? Are these essentials or not?

It really is up to you. You need to define what you can't live without and then work out how much you've got spare.

FWIW I class all the things I listed above as essentials but many people don't. After essentials and fees we have a bit spare on paper but y'know, we're just having to replace all the windows ...

you make do with what you havem but unless yuo have the money to spare, why pay for something you if can't afford it?

Rainbowinthesky - you are probably not going to get particularly useful answers without giving more information about your life/income/expenditures.

I can understand why you wouldn't want to do that here because it does open the door for people to make comments (and believe me, they will!). But without more detail, I don't think you'll get a real answer here.

I'll pull a number out of the air and start by saying I think you'd need at least £1000 per month (after taxes) over and above mortgage, petrol, food, household bills. That money will go toward pension contribution/savings, holidays, birthdays (and gifts at birthday parties), Christmas, one-off expenditures (replacement of fridge, boiler/car repair, etc), hobbies, meals out, clothes, etc.

You are not clear about whether you are including school fees in your expense list in the OP, or whether you are asking if 'minimum' per month is expected to pay for school fees (among other things).

If your budget is very tight, is it possible/likely your family would qualify for a bursary or scholarship?

What is your question, OP?

Do you mean disposable income before or after paying school fees?

If you mean before, then you need to factor in the cost of the fees plus about 10 - 15% for extras.

If you mean disposable income after school fees, then you can be like us and have none!

You need to also decide what the minimum you are willing to put aside for holidays and things like meals out/entertainment.

More than you think.
Don't forget the extras such as school trips which get very expensive.
This school year DD1 has gone/is going on a few theatre trips at £35 and £25, a PGL activity weekend at £140 and a ski/snowboarding trip at approx £775.

DS1s school has so far offered a sailing holiday in the winward isles next summer which he declined Think that was around £1,500 which actually I thought wasn't bad compared to a D of E trip last June to Cyprus which cost around that.
We've also had a letter about a proprosed 'charity' trip to Malawi next summer at the cost of £2,040 (which thankfully he has also declined) and he is going on a trip to Nice which is a language/activity trip in February at the cost of £620

Although we knew there would be a few 'extras' we didn't realise quite how much they would add up to.

You really need to take all that into account as there is sadly a lot of peer pressure for the kids to go on all the trips

If you need to ask maybe private school is not for you.

Private school must be for the rich; at least where we live. Fees round here are 12000 a year plus another 2000 for uniforms/activities.

This means that you have to earn at least 40,000 per annum before tax to pay just the fees for two children.

So, to have a life on top of that (assuming modest mortgage of 400/month), you are looking at another 2500 a month before tax.

So, a household income of 70,000 a year before tax to live ok.

I think that sounds a lot, since the average family apparently earns 25,000 a year.