Critique my £500 a month pocket money

[Notradespeopleareavailable]

I'm working on household budgets and figure after all my essential expenses, savings and re-occurring bills, I have £500 left to fritter on fripperies each month.

This money will be used for:
Clothes
Beauty treatments
Books
Hobbies
Presents and gifts
Biggies such as holidays and days out.

Does £500 seem a lot for 1 person to spend each month?

@Notradespeopleareavailable

This thread is a real eye-opener for me. I have limited myself to £500 a month on fripperies because I'm trying to cut down my spend on non-essentials. I have too many clothes and things, which are filling up the home, so I can't afford to keep shopping the way I am.

I would also like to save some more money for one-offs like holidays and weekends away (having had 2 years without mainly due to Covid).

Shopping is a distraction and something I'm aware I do to alleviate boredom, stress and to satisfy a craving for something new to be delivered to the home. Fortunately my partner is so much unlike me in this respect (and so he can manage his life quite happily on a lot less money).

I had to Google 'fripperies' because I've never heard it before. It means 'showy or unnecessary ornament'. Do these things make you happy? If so, crack on. But I don't think holidays and clothes fall into the 'fripperies' bracket and should have a budget section of their own

Well now that we're all going to have an increase on NI, that's my £500 pocket money gone!

If you are on £50,000/year your additional payment will be £505 A YEAR. You will still have lots to fritter every month.

Be aware though that sometimes life bites us on the bum and this month I have coughed up £306 on rat catchers and electricians to repair chewed cables. Didn't see that coming!

Yes but Boris Johnson will now take a whole month's pocket money off me rather than take money from elsewhere eg how about cancelling HS2?
Oh silly me, of course not - I'm sure a lot of Tory cronies have contracts in HS2 at vast profits from the national purse.

I agree with @NuffSaidSam

The question seems back to front to me.
But then, I can't imagine having that much money after pension and savings etc as well as essentials.

I think it depends as well on your age, and on whether you own your own home, and if that home is the one you want to stay in most of your life, and what dc you have and what ages they are, and so many other things.
On one hand it does sound a bit 'smug' - it doesn't reflect well on a person to be so insensitive as to be asking people to "critique my spending of £500 per month - that is EVERY month - on "fripperies", when I presume you must be aware of the HUGE numbers of families who are just about managing, or who are NOT managing.
I know MN is very skewed towards high earners, but you can't be unaware that isn't particularly common to be wondering about all your "spare money", after savings, pension etc which so many aren't able to manage ?

Anyway OP, that’s an insane amount of money for most people. I’m on another few threads about climate change atm – one critique I’d have for your budget is that you don’t need new clothes/beauty treatments/gifts/STUFF every month, especially not £500 worth.

Like what they said - tripled. And don't bleat on about having to pay an extra 1.25% on National Insurance when your income is definitely over £50,000 a year. Even it was said 'light-heartedly', Because it case you didn't know, you pay 2.5% in NI only now, while those of us earning less than £50k pay 12.5% in NI.

I think the rich need taxing A LOT more - especially when they have £500 extra monies to spend on fripperies a month. FFS how many books can you read in a month?

Oh and before anyone asks - yes, I'm menopausal, bitter, and don't sleep well. Please don't take any comments too personally as it's Boris and his idiotic government I am most bitter with......

@Kite22

I agree with *@NuffSaidSam*

The question seems back to front to me.
But then, I can't imagine having that much money after pension and savings etc as well as essentials.

I think it depends as well on your age, and on whether you own your own home, and if that home is the one you want to stay in most of your life, and what dc you have and what ages they are, and so many other things.
On one hand it does sound a bit 'smug' - it doesn't reflect well on a person to be so insensitive as to be asking people to "critique my spending of £500 per month - that is EVERY month - on "fripperies", when I presume you must be aware of the HUGE numbers of families who are just about managing, or who are NOT managing.
I know MN is very skewed towards high earners, but you can't be unaware that isn't particularly common to be wondering about all your "spare money", after savings, pension etc which so many aren't able to manage ?

Yes I know my post comes over as being somewhat smug and privileged. Believe it or not I have a strong social conscience and when I started this, I did wonder about putting in a disclaimer as of course I'm very aware of the huge amounts of people just about or not managing at all. However this being MN, I decided that the disclaimer would detract from my post and there will always be other threads that discuss relevant issues eg the NIC increases / growing use of food banks to cite two examples.

Meh, I’m skint AF but posts like this don’t piss me off or upset me.

I have £800 per month for myself (it’s going up by £250) this month.
It covers
Clothes
Taxis and buses (I don’t drive)
Gym (£59)
Hair cut and colour
My hobby
Socialising with friends
Coffees out
Toiletries
Birthday and Christmas presents for my DH
Treatments such as facial procedures
I never spend anywhere near the whole amount and I struggle to buy expensive items even though I now can easily afford it. My DC are grown up, when they were younger things were very different.

Thanks, I'm glad you've said that. I think MN is big enough to take posts about all kinds of issues, including where posters will come off as "advantaged" in some way as well as those that are struggling with life and any matters attendant on it.

The trouble is, if every post which implied advantage or privilege were banned, that would exclude an awful lot of topics eg:

I already have 3 children and find I am pregnant again but I don't want this baby, but feel guilty about termination, WWYD? (Now think of someone who is struggling to have even one child and cannot afford further rounds of IVF);

I want to move house from our 3 bed semi to a 4 bed detached but the asking price is £50k more than we can afford, AIBU to put in a cheeky offer? (Now think of someone who cannot afford to get on the property ladder at all and is stuck with rented);

I've received an inheritance of £250k. My partner wants us to invest in a BTL but I want to use the funds to extend and improve our current home, WWYD? (Think of anyone struggling either financially or who has no chance of owning their own home).

Like WhatstheBFD I would not want to stop more "privileged" posts on MN or expect a disclaimer with each one.

@Notradespeopleareavailable

"Thanks, I'm glad you've said that. I think MN is big enough to take posts about all kinds of issues, including where posters will come off as "advantaged" in some way as well as those that are struggling with life and any matters attendant on it."

I agree with this. MN is not purely for the disadvantaged and those of us with a higher income have just as much right to ask for advice and opinions as anyone else.

I like living vicariously through you tbh

I’m skint because DD2 is unwell and has lots of appointments and she takes a lot of “management” - I’m a lone parent, not long finished my PhD and my career is now on hold, I’m on UC and waiting on DLA to make a decision etc.

It is what it is. I don’t begrudge anyone what they earn.

Now, Musk, Fuckerberg and Bezos… That’s a different story

How do you keep track of your spending? Do you use an app or just check your bank balance?

I miss having my hair done (and I feel bad because my close friend is also my hairdresser and she’s lost a fair whack of money from me - around £130 a month), I miss having everything waxed and gel nails, I miss having takeaway once a week, I miss being able to buy wool that I like without thinking about it, and so on and so forth.

But DD needs me right now, so frankly, none of it really matters.

@poolblue

How do you keep track of your spending? Do you use an app or just check your bank balance?

Well that's the thing. I'm logging all expenditure into a spreadsheet so I can monitor where the money is going as I want to start saving so I can retire at 60 or I may be dead by the time I qualify for the state pension

WhatstheBFD I'm sorry to hear you're having a difficult time re finances. I hope once your career gets going again that the PhD will stand you in good stead and justify the time and effort you put in to get it.

What an absolutely cringe post
Yes obviously some people can’t afford to eat or pay their bills
So if you are really asking if £500 for one person to fritter each month is a lot I recommend you try getting out of your bubble sometimes

If your question is what do you spend on yourself / I earn x how much should I be spending on x/ should I be saving more than I am/ am I stretching my money too far or something else along those lines at least there would be a point to your post.

Do you consider your effect on the planet of buying so much stuff?

don't bleat on about having to pay an extra 1.25% on National Insurance when your income is definitely over £50,000 a year. Even it was said 'light-heartedly', Because it case you didn't know, you pay 2.5% in NI only now, while those of us earning less than £50k pay 12.5% in NI.

Quite!