HELP ME BUDGET PLEASE PLEASE******************

[drosophila]

I want to set aside a set amount every month for kid related expenses. I am finding it difficult coming up with a figure and am wondering if I am thinking of everything. Things I want to cover are:

-School uniform for DS

-Clothes for DD(2) and DS (7)

-Pressies for both

-Any activities (this will be a set amount so easy to work out)

-The odd DVD

-The odd splurge



Right have I forgotten anything?

How many items of clothing would you think youw ould need for a growing boy and girl?

Even better could you estimate how much money you would put aside for clothes for 2 kids assuming I shop in Adams, Primark, H&M, M&S and the like.

Any thoughts gratefully recieved.

[drosophila]

Anyone???

[mumblechum]

Have you covered days out to cinema, swimming etc?

If your ds is in primary, presumably the uniform isn't going to be expensive.

For the other stuff, I buy my ds probably an average of 2 new items a month, being just a cheap hoody or pair of jeans (say £30 for the two). School shoes x 2pairs per annum at £40 a go, trainers & football boots prob. £100 per year. When they get older they often want more expensive gear, eg Ripcurl, which will set you back about ~£40 for a hoody, £25 for a t shirt.

Therefore, I'd budget at the moment on £35 to £40 for your eldest per month, and £25 to £35 for your youngest, in addition to school uniform for your eldest.

They are expensive little blighters, aren't they? I reckon almost all of "my" pocket money goes on my ds, I hardly ever buy myself anything

[mumblechum]

Oh yes, and don't forget school trips. When yours are in year 5 or 6, they'll probably go away for a week. Last year my ds went to the Isle of Wight which cost about £300.

Next year, it's apparently a dive trip to Mauritious. How we laughed.

[bozza]

dinner money?
spending money?

[bozza]

non-uniform day?

[portonovo]

My experience with 3 children has been that clothes have cost very little except for the times they go through a real growth spurt. But mine don't get new clothes every month.

It also depends on whether you're buying clothes because they 'need' them or because you or they 'want' them. How many they need is very subjective - it all depends on what sort of washing/drying facilities you have, how often you want to wash, how many different sorts of outfits you think they should have etc.

I budget £70 a month for all 5 of us - 2 adults, 3 children. That includes all clothes, school uniform, shoes, football boots etc.

I haven't found mine want more expensive or 'named' clothes as they get older (mine are 14, 12 and nearly 10). Or if they do suddenly get an urge for labels, they're going to be paying for them themselves!

I agree on the school trips, but not the ages your children are, more from about Yr 6. I now budget about £20-30 a month for these.

Activities never cost much when they were younger, but we're now finding the true cost of having musical children!

[bozza]

I think £70/month is very little for clothes for 5 if you are including footwear. So far this month I have spent:

£22 - uniform for DS
£26 - trainers for DS
£15 - football boots for DS
£12 - two pairs of doodles for DD
£4 - socks for DD
£2 - t-shirt for DS

But that is for 2 children and does not include me and DH.

And next month it will be sandals for both DC so probably £50 in that.

[drosophila]

It does add up doesn't it.

DS is 7 and DD is 2. DO you give poket money at age 7?

[drosophila]

Oh the Nursery also have a uniform I forgot that. I always use my current a/c to buy stuff for the kids and now we want to be a bit more organised. I had a quick estimate of £50 a month and then I kept thinking of other bits and pieces.

This is a big help thanks.

[portonovo]

I track all my spending on Quicken, so my £70 a month figure is based on what we actually spent per year in 2005 and 2006. I don't expect it to vary too much this year.

But it's just a how long is a piece of string question isn't it? I'm sure we all vary dramatically in how many shoes/clothes etc we buy, and that will be reflected in our individual budgets. £70 a month is more than enough for us 5.

On the pocket money question, we started giving ours pocket money about age 4, moving over from weekly to monthly at about age 7-8.

[drosophila]

Really I am way behind now on the pocket money front. What is quicken?

[portonovo]

Quicken is a software package to help manage your finances - there are lots of packages around like that, you might have heard of 'Money'.

Basically, you input all your standing orders and direct debits, and then these are automatically deducted at the right time. Then it's just a case of sitting down once or twice a week and putting in anything you've bought in a shop or online, or cheques you've written.

You can assign different categories to expenses and income, so for example if you go to a supermarket you might assign that spending to 'groceries' or when you buy a new skirt that will be 'clothing'. You can then easily track where all your money goes.

You can have multiple bank accounts on there, and it also tracks savings and investments. You can set up various budgeting features too.

It takes probably an hour or so to set up first time, then it almost runs itself with just a few minutes each week. I find it invaluable, and it really does help you see where you money goes - for example I could tell you within minutes every last penny we spent last year on groceries or books or clothing or utility bills or just about anything else!

[drosophila]

Thanks I will loook into it.