Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Flip

1 2 3 4

Original poster

We just aren’t earning enough money!!!!

98 replies

Livandletliv · 02/09/2023 10:02

Up until thus last year I though we were doing ok and kind of comfortable in the sense that we were able to pay our bills, fill the fridge, go on one holiday per year and run 2 cars.

fast forward to 2023 and things feel very different! Utility bills, food and mortgage has increased and we just seem to haemorrhage Money.

we both work in full time jobs and together our monthly income is £3900. Thus just doesn’t feel like enough anymore. Our mortgage takes £900 of this!

last month we had about £250 left the day before payday so hardly enough to save for an emergency, a holiday or for kids uni etc

i just feel fed up with it all

OP posts:

Merryoldgoat · 02/09/2023 11:23

You need some perspective - you have money left at the end of the month that you could save.

There are many with nothing or going into the red. You’re fine.

vodkaredbullgirl · 02/09/2023 11:25

Can you not put what you have left before pay day, into a savings account.

tooanxious · 02/09/2023 11:39

250 a month is 3grand a year spare, not o be sniffed at

Plumful · 02/09/2023 11:40

£250 before pay day isn’t bad.

Chersfrozenface · 02/09/2023 11:43

we both work in full time jobs and together our monthly income is £3900. Thus just doesn’t feel like enough anymore. Our mortgage takes £900 of this!

Is that your take home pay after tax, NI and pension contribution?

Because if so, what on earth are you spending £2750 a month on?!

TiredandLate · 02/09/2023 11:48

I think you're being hard on yourself. £250 before pay day is fine, a decent amount to chuck into savings each month. You haven't mentioned any other debt apart from mortgage, and if that's the case I would say you are winning.

WaitingfortheTardis · 02/09/2023 11:53

That mortgage doesn't sound crazy compared to your income. I think you need to go through everything you are spending and see if there are places in which you can make savings. However, if you have £250 at the end of the month you aren't in a terrible position, it sounds like you are on top of things generally.

Pinotwoman82 · 02/09/2023 11:57

i think £250 at the end of the month isn’t that bad at all. I was expecting you to say you had £250 to last the whole month.

greyhairnomore · 02/09/2023 12:05

Just put what ever you have left the night before payday into savings.
If that is net pay you have high outgoings.

DarkDarkNight · 02/09/2023 12:10

I bring home around £1900 a month and my mortgage is £460 so roughly half yours on both counts (I get a small amount of Child Maintenance and Child Benefit plus 25% reduction on council tax). All of my outgoings come out of that one wage so you are lucky you have another income to split utilities and council tax with. £250 to save at the end of the month is a lot better than some people have.

Cynicaltheorist · 02/09/2023 12:13

Why do you think you're any different from most people, or indeed from most people who've ever lived? Did you really think that you were going to have a life that didn't involve major ups and downs, good times and lean times? This is normal. Ask anyone in their 60s and they'll tell you about all the recessions they survived in the 80s and 90s. What were you doing in 2009, after the global crash? Were you not negatively affected then? The last decade of ultra-low interest rates seems to have persuaded some people that there would always be easy money available. It was a pipe dream: what we have now is more like reality.

You say you have £3,900 to spend each month. Mortgage is £900. Let's say CT, water and utilities work out to another £600pm balanced out over the year. Maybe £200 pm for insurances, TV licence, car tax and other necessary payments. So you still have more than £2000 each month for food and household bills. No kids from the sound of it, so where are you spending all that money? How much do coffee and lunches come to each month? How much do you spend on meals out and socialising? Those are the places to start pruning back.

thdskdrggs · 02/09/2023 12:15

You're going to get lots of "that's loads" comments I'm sure OP, but I agree it's rubbish. When what your earning doesn't go as far as it did it's a hard pill to swallow, you don't have to be in poverty to be disappointed you dont have as much money any more.

Bovrilla · 02/09/2023 12:17

It's a shock when your spending power decreases

I left teaching PT and went FT in lower salary job. It's £300/month less and coupled with the increase in living costs I've noticed the difference in discretionary spending.

We haven't had a "proper holiday" this year.

Still aware of how lucky we are to have days out and weekends away, and money for kids activities etc but everything feeling a bit more tight is noticeable to most of us

Glittertwins · 02/09/2023 12:18

I would start itemising everything you are spending money on, including right sow to things bought with cash taken out of the bank. You'll then be able to see what could be cut down on (takeaway and alcohol are the usual culprits).

Glittertwins · 02/09/2023 12:21

Right down to...

officecake · 02/09/2023 12:27

similar here OP. Things that surprised me how much I spend on them: parking! Lots - I have long covid and can’t park any further away usually, broadband, (about to renegotiate) gifts (need to act on this!) and basically school flaming uniform, and after school activities. Did I mention Netflix? Boooooo.

krustykittens · 02/09/2023 12:34

I know what you mean, OP. Myself and DH are both freelance and when we did out taxes this year we were shocked at how much more we have spent just to cover living expenses. We try to be careful but like you, we feel as if we are bleeding money. It's shit and we really hope it gets better soon. I keep a paper diary now and write down every penny that I spend, which is helping. You think twice about spending £100 but its the tenner here and there that you don't think about that soon adds up!

Paq · 02/09/2023 12:37

It's not on the breadline but it's tight. Can either/both of you up your income?

Do you have any rainy day savings?

Eddyraisins · 02/09/2023 12:49

You are right money doesn't go as far as it did. That's a fact.
Yes people struggled in the past that doesn't make it easier now or even comparable.

A lot of people are being priced out of a decent standard of living. Not just survival. That isn't good for anyone.

ActDottie · 02/09/2023 12:49

I kinda get what you mean cuz we used to save nearly £2k a month but now we’re struggling to save £1k and our spending habits haven’t really changed. I know £1k is still tonnes to save but when it’s less than what you used to save it just makes me you wonder where on earth is the money going! But I think saving any money in this current climate is a good thing.

We are also saving up for my maternity leave next year so I think we’re a bit more stressed about it than normal.

LucifersPain · 02/09/2023 14:17

This is hilarious. Household mortgage payments in excess of 50% of joint take home pay is historically normal for people aged under 50. It certainly was in the 1980s and 1990s.

OnlyFoolsnMothers · 02/09/2023 14:20

Yea it’s shit- add a Christmas or a birthday or a school trip into the month and it’s wiped out. People on MN act like if you aren’t at a food bank you’re rich- it’s shit to work and have little to show from it besides getting through the month with the odd treat like a takeaway or a bowling trip. I hate this country!

wizzbitt · 02/09/2023 14:23

Just here to echo the £250 at the end of the month bit. I'd be so grateful for that. Definitely enough to save imo
I have about £50 a month. And just don't have any treats anymore. Certainly no new clothes and beauty treatments - which were rare in the past are a definite no now.

Mangotango39 · 02/09/2023 14:28

Sorry your getting some harsh comments (in my opinion)
It's miserable living for a bare minimum existence of paying the bills and having food, that's all?
Yes some people have it harder and always will but god sake , your point is bloody valid!

KateyCuckoo · 02/09/2023 14:32

I'm actually really surprised to read so many of these threads and they don't come for the demographic that I would expect.

Those who earn less and don't have enough to save for a deposit so are chucking out hundreds more on rent than you, who are already unable to save even £50 let alone £250....

It seems the wealthier are moaning more than the poorer...

Flip

1 2 3 4