Is £30k enough to live off

[Desdemonadryeyes]

I realise it’s a ‘how long is a piece of string’ question but I’d appreciate views. My DH died a few months ago and I think I’m now receiving the amounts which will be my monthly income (got his full works pension for a few months) and surprised to receive an extra £2k on my state pension.

Think I’m being over taxed but that will all be sorted out eventually.

My income is £30,600 per annum after tax. No mortgage. Last year I also won £1950 on PBs which is tax free plus I have other annual bonds that should bring in about £3,200 in interest some of which will be taxable. I’m taking out every year to top up my cash ISA.

I have increased expenditure due to requiring a dog walker following an injury but hope to get that sorted eventually.

I like good food, and mid price wine - drink about 3/4 bottles a week. I run a car. Have lunch out with friends probably once a week. Netflix and cheap Sky package. My yearly outgoings on bills etc is £12,400. Need to add in car and house insurance which are due soon but don’t what they will be yet. Dog walker £3,750 per year 🫣

Never really needed to budget before. DHs pensions covered day to day living expenses quite comfortably and I used my inheritance from my dad for life’s luxuries. And I didn’t need a dog walker. Now I’m alone I feel a bit daunted. My injury means I can no longer fly economy.

I could live for a couple of years on the contents of my store cupboards and freezers. When my DD comes home I pay her train fare and uber journeys. And she then shops for her expensive recovery eating plan.

I’ve lost a significant amount of weight recently so need to update my wardrobe. I do enjoy buying stuff. I really don’t need ‘stuff’ but we only pass this way once.

i intend to downsize when I’ve recovered from my injury, and after paying DHs care home fees hope to have about £250,000 left over to put somewhere to earn some interest.

So I will have about £15,500 per year for food, going out, holidays, clothes, gifts etc. I have got savings I van dip into if necessary but for some reason I don’t like doing that. Think I’ve developed the mindset that I should be saving it for my DD to inherit. But my dad had that attitude and it used to annoy me that he wouldn’t spend money on what he needed to make his life more comfortable.

So is that a reasonable amount to live comfortably?

Thanks for reading.

@EricTheHalfASleeve

Unfortunately not as she lives in London.

I’d looked at Cinammon trust before and was given to understand you had to be terminally ill which surprised me. It now says (or over 65) so I’ll try again.

Don’t you mean high?

No I mean low. I mean women don't realise how little alcohol it takes to fuck our livers compared to men

I think it’s the way you worded it, it sounded like you were talking to her specifically. She probably has a higher tolerance than the average woman, (which is not a good thing), it can give you a false sense of security. It means she can drink more than someone with low tolerance (like me) and not feel the same effects. That doesn’t mean a high tolerance person’s organs don’t feel the effects, they certainly do, but they don’t get drunk or hang overs as easily as someone with low tolerance. Low tolerance is really just your body trying to keep you safe. And as I said before, your liver couldn’t care less about whether you bought a bottle of cheap plonk or an expensive chablis, so that is another false security people kid themselves with.

I know what a really difficult thing spousal bereavement is. Just work out your budget and enjoy your life as far as you can.

It does get slowly better.

Enjoy your wine. 🥂🥂🥂

Family of 4 with two children on 29k and a mortgage to pay……..if you can’t mange then more fool you. It’s so crazy how all the wrong people have all the money!

What a nasty thing to say in the circumstances.