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Realistic budget for family of 5

3 replies

Blankscreen · 21/11/2020 23:55

DH and I are trying to get a handle on our finances.

I have suggested that we have a 'going out' fund every months which is spent the activities./spends I know we can't do much at the moment but going forward what do you think is realistic?

It's not for food or petrol costs and I've budgeted for clothes, Christmas and birthday presents , pocket money and kids clubs separately.

Thanks

OP posts:
RainbowMum11 · 22/11/2020 00:38

It completely depends on your income & other expenses

BarbaraofSeville · 22/11/2020 06:59

Yes it depends on what you have available after all essentials, including savings for annual and irregular expenses have been accounted for including provision for things like car repairs, washing machine replacement etc.

What would be reasonable for a low income family with little spare money would be very different to someone with lots of disposable income.

CarlottaValdez · 22/11/2020 07:03

Pre lockdown spend I had a pot called “DS Stuff” which covered days out as well as bits and bobs of discretionary spend on him like magazines and books. I found £100 a month was ok. Had separate pots for eating out so it didn’t have to cover lunch.

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