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Original poster

Is £83 a week enough?

33 replies

PeachyM · 15/05/2021 15:41

Just popped on here for a bit of advice. In September I’ll start my first proper job after leaving uni. My income will be just over £23000 after tax, and after my rent, bills (inc food, gym, travel, phone, internet, toiletries etc) and about £100 savings per week, I’ll be left with £83 per week spending money for anything I want (socialising etc). Is this enough? I would ask Mum and Dad, but they’ve both spent so long on large six-figure salaries that any sense of reality fled long ago!

OP posts:
jollyho · 15/05/2021 15:45

It depends, £83 is way more than a lot of people have after bills NOT including food. However you’re saving around £100 so if it isn’t enough for you, save a bit less and use more.

Aroundtheworldin80moves · 15/05/2021 15:48

Discretionary spending depends on lifestyle.
We don't spend that as a family of four. But we also don't go out to pubs or restaurants frequently. When we were a lot younger with less responsibilities, we did.

mrsbyers · 15/05/2021 15:50

Your disposable is £183 - save less if you struggle

WaterBottle123 · 15/05/2021 15:50

I'd say that's about right for your age. About 50 quid for clothes, holidays, etc and 33 for a night out.

ivykaty44 · 15/05/2021 15:50

That’s not a great deal for going out or holidays, but if you’re saving you’ll have something for emergency money

What are your travel expenses? Could that be cut back?

FizzyPink · 15/05/2021 15:51

That’s plenty. If you can’t then just save a bit less. I’m not sure many people on £23k are saving £400 a month

Original poster
PeachyM · 15/05/2021 15:55

My travel expenses are £99 per month and that’s with the perks I get from my new job, but considering it’s travel in London I think that’s okay

OP posts:
fallfallfall · 15/05/2021 15:55

Haircuts every 6 weeks can be pricey. But like others pointed out your savings is a good buffer.

UhtredRagnarson · 15/05/2021 15:56

Yes it’s plenty. Enjoy it while you have it before you have children who take it all Grin

riotlady · 15/05/2021 16:07

Yeah that sounds fine to me. Well done for being so on top of your budgeting!

Aroundtheworldin80moves · 15/05/2021 16:08

Have you budgeted for things like Netflix or TV licence? Council tax? Student loan repayments?

Original poster
PeachyM · 15/05/2021 16:15

Council tax and tv licence are included in rent, but I’ve assumed I’ll have £25 for unexpected expenses saved per week. I never took out any kind of student loan because mum and dad helped pay for everything. Am only a bit worried because COVID wiped out all my savings (almost nothing in furlough from my waitressing job) so I need to rebuild them but I’d also like a wee bit of a social life.

OP posts:
Drowninginwashing · 15/05/2021 16:18

My husband and I have £100 each a month. And I have to pay for days out for the kids out of my 100. So I reckon you'll be fine!

DK123 · 15/05/2021 16:24

As that doesn't have to include food, that should be fine. After deducting the things you've already deducted, some weeks maybe I spend a tenner, other times like round Christmas or when there are a lot of birthdays I might spend a lot more than £83. Overall, I think it's a fair amount.

User135792468 · 15/05/2021 16:32

Could you save £75 a week instead and have £108 a week. You need to consider going out now stuff is opening up again plus clothes, shoes, toiletries, hobbies, coffees out, takeaways etc. Dinner and drinks out would wipe out most of that budget in itself.

Mosaic123 · 15/05/2021 23:26

Could you cut out the gym and just exercise at home or.in the park? Summer is coming.

Eileen101 · 15/05/2021 23:38

Give it a go and see how you get on, as you're clearly on top of your finances and budgeting.
If you need a bit more leeway, you could reduce how much you save to allow for that, unless you have a specific goal or amount in mind to focus yourself e.g. house deposit, in which case, you might prefer to adjust your lifestyle instead.

Xmasbaby11 · 15/05/2021 23:46

That wouldn't have been enough for me at that age but then I enjoyed going out / away for weekends and also birthdays added up. It depends a lot on your lifestyle and friends. But it's definitely worth a try and see how you get on. You sound very on it and I'm sure you'll find the right balance.

Hallyup6 · 16/05/2021 12:21

You'll have about £750 per month, after bills? There are a lot of people who will be jealous of you, that's all I say.

BarbaraofSeville · 16/05/2021 14:53

Depends entirely on your lifestyle expectations. Many people will spend more than that on one dinner and drinks type night out.

Plus if you have high expectations about clothes and grooming, it won't go far. What will you spend in lunches, coffees etc while at work? You could spend most of your£83 a week if you get a coffee and pastry on the way to work and lunch from somewhere nice like Pret.

However, it's more than a lot of people have and you just have to prioritize what's important to you. It's enough to have some treats but not everything you might want and certainly not the high end version of everything.

Danikm151 · 18/06/2021 13:10

I think you need to consider the cost of living where you live. If this is after all essential expenditure then you'll be doing pretty well.

SwimBaby · 18/06/2021 14:14

I think it sounds ok and have others have said you could vary the amount you save if need be.

SwimBaby · 18/06/2021 14:14

Congratulations on your job offer.

viques · 18/06/2021 14:32

Save £50 a week which means you have a contingency fund of £50 a week. If you use it fine, if you don’t use it or spend only part of it then save what is left over . Just make sure you keep track and transfer it into your savings account at the end of the week.

I saw a secret millionaire programme once where the millionaire allowed herself a fixed amount of money (in cash, it was a while ago) everything left in her purse at the end of the day went into a piggy bank!

sansou · 19/06/2021 20:58

Congrats on your job. £23K net pa or £2.3K net pm?
This is usefull

Spreadsheet your fixed expenses and honestly categorise/prioritise them from essential to discretionary so you can easily see where you can save (if you need/want to).

Of course you have more than enough, it's more disposable income than you had as a student. Whether it's enough for the lifestyle you aspire to is another matter but generally, you need to learn to live within your means like most of us.