Is £83 a week enough?

[PeachyM]

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!

I wouldn't put £400 a month away. Live a little.

It would be masses more than I would need but I've never been used to living in a household that pulls in 6 figure salaries. So your expectations might be very different from me.

Impossible for anyone to say what's enough for you. It wouldn't be anywhere near enough for me but someone less spendy could think its heaps.

Depends on how often you socialise and what you do when you are out. London is expensive and you can easily spend that money on one night, but you sound pretty sensible so I suspect you will be fine.

Congrats on the job

I give myself £50 a week 'spending money' and it always goes but the thing with money is if you have it you'll spend it... £83 a week sounds enough for someone in your stage of life - so long as you keep an eye on the socialising as it would easily go on just one night in the pub if you let it.

I would say that's pretty good for someone straight out of uni. I think you'll be fine.

See how it goes over the first few months. Once your savings are built up again then reassess if you want more spending or more savings.

Congratulations on your new job.

My dd lives on £75 per week after rent and bills. She has to buy her food, toiletries, phone & travel out of that too. She cancelled her gym membership.