What is a reasonable monthly fun money amount for a couple?

[user1471267414]

Hi all

looking for advice on what is a decent monthly amount of disposable/fun money?

for context our joint income is £8300 and after bills/food petrol/debt repayment we have circa £3500 left (paying £1500 a month in debt) How much is enough each as our money with the rest to go in savings or a pot for things such as car other expenses e.g car repair? Our money will be for going out/clothes/takeaways at weekend etc. I thought £500 but OH thinks £1000. What do other people do

Why not try £500 and see how you go? Some months it will likely be enough, other months you will probably want more.

I think you should pay more of debt first if tou have spare.

I think with no kids... somewhere in between depending on the month expecting it to average at about £800

£500 is scrimpy if it includes all drinks dinners events and day trips

Thats once the debt is paid down until then ... minimal fun.on that money you shouldn't have debt

This OP. You should not be splashing a grand in fun money when you have debt. How much is the interest on it?

It’s funny I nearly put

1. we have debt because up until last month my husband has been out of work for 2 years after having a breakdown and
2. we owe the money to a family member who due to the awful time we’ve had wants us to make sure we enjoy our life as well as paying them so insists won’t take more than the £1500

but I thought no I won’t do and here we go the first two comments are snippy about having debt!! What happened to be kind???

£500 seems plenty, £1000 seems an awful lot, what does he want to spend it on? Especially if you have debts, you can do with saving.

Yes I’ve said this as well. I’d rather try less and save more I don’t want to waste money

we can still save 1500 a month and have a 1000 each

We have £560 - half each into our own bank accounts. This covers all socialising, treats, trips and clothes. It's plenty but we don't really drink and are both very low maintenance.

If that’s what you want, why not cut down and have a bigger savings pot. Depends what this fun money is for really and how much you want. I personally wouldn’t want to spend 2k a month on fun money, but it’s your money.

I would think 500 is enough. What would you be spending it on? Surely most the time u r at work so don't really spend.

What is coming out of your “fun money” budget? Clothes, gym, or just days/nights out?

Is that 560 each or £280 each? We don’t really drink either

Is this include non essentials but annual expenses like holidays Christmas house purchases and so on? I’d put 500 for monthly spends and then save 500 for these bigger events. You could have 1000 the first month to buy some things you want as a treat.

depends what lifestyle you want? Designer clothes? Luxury cars? Latest tech each month? 6 holidays a year? Convents and gigs? Jewellery? Depends on what you spend your money on?

Basically socialising, clothes days out with our child.. that’s is really

No-one responded unkindly.

In my opinion they did because they passed comment by saying we shouldn’t have debt and should be paying more debt without 1. Being asked to comment on that and 2. Without knowing any of the circumstances of the debt….. it was designed to have a go. My opinion.

I wasn't being snippy or "unkind" but you are in debt with a husband who wants to double your generous fun spend so it was not unreasonable to assume you are in debt due to money mismanagement.

Yes, you did drip feed relevant information. The worst part of debt is compound interest which i now assume you don't have. Anyway I'm out since you've been so rude.

Classic gaslighting now you’ve been called out on your passive aggressive behaviour!! It is interest free.

And I didn’t “drip feed” anything I said I held it back but was then forced to give those reasons due to, as usual, assumptions from the mumsnet lot!!!

How much do you spend on these things just now?

I’d say start at 500, then up it a little if you need more

We have similar income, and have £500 each for spending with everything else going to short and long term saving. That’s plenty for us to have fun without being extravagant and we often have money left over at the end of the month which goes into individual savings.

It’s difficult to know because we’ve had one salary for 2 years so just been living off that and by time paid bills and towards debt it all goes. Now he has a job and we have a good level of income I just want to make sure we aren’t being daft with money but at the same time are comfortable and can enjoy life after a bit of a crap time

I get that, life is for living. But you’re in a good position to treat yourselves and save a good amount, hopefully he’ll stay well but it’ll be good to give yourselves a buffer.

Could you compromise at £750?

Yes I thought £750.00. I think I’m going to try us on £500 and see how we get on and can always up a bit. I feel lucky that we’ve had family help to pay it and lucky we can pay off and still have money too and want to make sure we are responsible