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% income on bills

2 replies

Justvisitingthisplanet · 04/03/2021 22:45

What % of your income goes on bills?
After paying all my direct debits and putting aside petrol money I have 10% of my income left for food/clothes/extras. I don't have any debt, but I'm worried if I'm furloughed 80% won't be enough to live on.

OP posts:
BarbaraofSeville · 05/03/2021 07:09

I have no idea what percentage of my income goes on bills, but even if I did, it wouldn't help with your problem about being short if you're furloughed.

Have you managed not to be furloughed up to now, and do you know if you'll be reduced to 80%, some employers have being paying 100%, and don't forget, if you have annual leave to use, and use some of that in the furlough period, you will be paid 100% for this. It might also be the case that your expenses will reduce when you're not going to work, if you use less petrol and normally buy your lunch for example?

However, if being furloughed is a concern and you haven't done it before, now is the time to take a good hard look at your budget and cut out any unnecessary spending to increase your surplus if possible - if you are furloughed, it's an excellent use of your time, even if you think you have already made all the savings you can.

Have a look at:

www.moneysavingexpert.com/family/money-help/

There's also sections on MSE about help with COVID and what your rights are, and sign up to the weekly email for ongoing tips on making the most of your money.

Good luck!

Fleurchamp · 05/03/2021 07:28

It depends on what you earn - a colleague was furloughed and she is on about £16/17k part time. She actually took home 85% of her usual pay because of the way tax and NI works and due to not commuting etc she said she actually saved money.

There are calculators online where you can work out what your net pay would be.

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