Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

Money left over

34 replies

Jaspall · 20/10/2016 17:28

After taking into account all bills, petrol, pension contributions and food shopping I have just under £1300 left over each month. I am married with two children aged 10 and 12. My wife has a small part time job but just on a casual basis so she keeps her own money to spend on herself and the children. Does this sound like a comfortable amount of money for most people to play with each month?

OP posts:
Alicesmith85 · 20/10/2016 18:11

Yes I think it's a good amount. It's about the same in our household, we have one dc in full time childcare and mortgage on a two bed semi. I feel lucky.

We can afford what we want in reason, weekends away every few months, take aways,holidays twice a year, clothes etc. Niether of us have very expensive taste though....and we save for big things, currently saving for our holiday in January and a new front door.

PlayingGrownUp · 20/10/2016 18:15

After both incomes in and bills out and £50 savings I average £17 left over. Want to swap?

UrethaFranklin · 20/10/2016 20:07

Its more than I earn a month Hmm

melibu84 · 20/10/2016 20:11

I can't believe you're asking this lol.

I earn about £1600 a month. I've been doing my budget for when I go back to work and I reckon I'll have £200 left after paying for everything essential, including food. My DP earns less than me, so I expect he will have about the same as he won't need to travel into London.

thisismyfirsttime · 20/10/2016 20:12

Yes, it's obviously a fantastic amount to have left over. I'd save half and 'play' with the rest, holidays, family trips, meals out, home improvements etc. Assuming you both have steady jobs and this amount will be and has been left over for a while. If it's a recent thing I'd save more.

Sierra259 · 20/10/2016 20:17

Agreed that's a great amount to have left over, am quite Envy

I'd be chucking a couple of hundred a month into overpaying the mortgage. Another £200 at least into rainy day savings. Some into my pension, some into savings for kids uni fees or whatever and still have £300-400 left over!

JustHereForThePooStories · 20/10/2016 20:24

Is that before or after savings?

Violetcharlotte · 20/10/2016 20:46

Bit of an odd question really? If you feel it's enough then what does it matter what others think?

Original poster
Jaspall · 20/10/2016 20:49

I don't save generally as I have sufficient savings built up already so the £1300 is there for anything else really

OP posts:
JoJoSM2 · 20/10/2016 21:56

That's probably more than most families. Why are you asking? Are you bothered by your wife not earning more or something?

kath6144 · 20/10/2016 22:37

Does your wife also have some pension provision, if not then maybe pay some of the money into personal pension for her.

Similarly with savings, if you and your wife have good provision, what about the DC? You can save 4K a year into a Junior ISA for them, if you arent already doing so?

FlabulousChic · 20/10/2016 23:15

I assume you and your wife have the same disposable incomes?

Original poster
Jaspall · 21/10/2016 06:32

Th children already have more than enough saved up for uni, wedding, car, deposit for a house, etc so I don't need to save for them at all. My wife has a small job but she's not a big spender. I have a good pension where I pay 5% in (about £200) and the company tops that up by another %10 which is good. I think we're okay but I don't think you can never have enough.

OP posts:
Original poster
Jaspall · 21/10/2016 06:33

No we don't have the same disposable incomes. I'm the biggest earner in our family by far and she just has a small casual job. Our mortgage is only £133,000 (£600 a month) which I guess makes the difference.

OP posts:
Cucumber5 · 21/10/2016 06:55

I would scoot through the mortgage and pay it off faster

AprilShowers16 · 21/10/2016 06:58

Sorry if I've misunderstood but why don't you share your disposable income with your wife?

JoJoSM2 · 21/10/2016 07:46

Yes, that disposable income bit sounds strange?

Original poster
Jaspall · 21/10/2016 07:49

Sorry I think there is confusion. We both earn money and we have a joint account. She doesn't earn enough to really contribute greatly towards paying the bills so hence we use my earnings mostly to keep a roof over our heads. For years she was a homemaker bringing up the kids which was why she didn't have much of a job. Her earnings she generally keeps and uses it to buy the kids clothes, etc. instead.

OP posts:
OrcinusOrca · 21/10/2016 15:22

My DH is taking a 30% pay cut to get out of where he currently is, and since doings sums I've realised just how many people live pay slip to pay slip, as I have spoken to friends about it. I'm mid 20's and whilst lots of my friends who live solo and work in cities don't have this issue, a lot of the couples and families do. They literally rely on not having unexpected, large bills come in.

£1300 is tonnes leftover, if its after everything, which it sounds like it is. We will still have some left over, and I've realised just how risk averse I am!

CheddarGorgeous · 21/10/2016 15:58

I would pay off the mortgage asap and then start investing in stocks and shares.

I'd also get a pension projection. Remember your wife might not have much of a pension pot built up.

NerrSnerr · 21/10/2016 16:04

Is she not a big spender because she doesn't have money to spend (I can't imagine she has much change left from buying the children's stuff if she has a very part time job) or could she spend more out of 'your' money if she wanted to buy something for herself?

titchy · 21/10/2016 16:15

Why on earth did you post? Some people have £1 a month spare, some are racking up debts each month and some people have hundreds of thousands left over.

What a peculiar post. Hmm

kittybiscuits · 22/10/2016 03:19

I'd say it's highly questionable that you speak about 'my money' when it is your family income. Your posts are highly suggestive of you being financially abusive.

YouHadMeAtCake · 22/10/2016 03:51

titchy is right. I see no point in the post.

CheddarGorgeous · 22/10/2016 06:28

I didn't realise that this Board was only for people with money problems Confused really if you have nothing constructive to say then just don't comment on the thread.

And to extrapolate financial abuse from the OP's posts is really clutching at straws.

Swipe left for the next trending thread