After absolutely everything, how much disposable income left?

[youreonmylastnerve]

No replies on chat, so I hope it's okay to try here.

I am hoping to move in the next 6 months or so, and this will likely see my mortgage double and council tax increase.

I have estimated that once I pay off some small credit card/OD debt before moving, my total outgoings will be approximately £1200, and I'll have about £600 disposable income left over. I have one teenage DC, which are expensive in themselves!

Now, that sounds a reasonable amount to me, but I know I've not had that amount to spare each month until now, and there will always be MOT bills, birthdays, house repairs to factor in.

Just wonder if it others think that's a safe amount or should I be budgeting for a smaller mortgage?

Thanks.

Just to confirm, is that £600 completely disposable? Ie you dont need to take food shopping, travel costs/petrol, lunch money for teenager etc out of it?

If so then I think youd be ok but not that comfortable as what about savings etc? If you need to pay for the bits mentioned above then no I dont think you're leaving yourself with enough to not worry constantly x

Thanks for replying. The £1200 I quoted covers everything - food, car costs, dc pocket money/lunch money etc.

I would try and save some of the £600 where possible and my salary will increase a little each year over the next few, although so will some costs, I know.

I think you'll be ok then as long as you still think you can save some out of that, working on a 4 week month its £150 a week spare so you'll probably be ok but I dont imagine youd really be able to splash out or save for holidays etc :) x

You will get tons of replies in Money Matters if you try there. Have you accounted for annual and other irregular) bills (eg insurance, any subscriptions, school trips, clothes for huge growing teens...)?

Thanks @DustyDoorframes

I've accounted for insurances and subscriptions. No school trips anymore, last one is this month But yes, the huge growing teen is definitely one I can't budget for! Though he does get a total of £65 a month pocket money and needs to start learning to use that better.