How much spare money do you have each month?

loey93
loey93 Posts: 62 Forumite
in Budgeting & bank accounts
Hi

I am interested to know how much money people have spare each month once they have paid for necessities such as rent/mortgage bills, food, fuel etc ? I am not sure if I am being greedy by allowing myself £300 a month to spend on myself this includes "fun/entertainment" money

I just wanted to get some opinions really :D

Thanks in advance :j
Aiming to pay debts & save! :T
«1345

Comments

  • MABLE
    MABLE Posts: 4,080 Forumite
    First Anniversary First Post
    I have more than enough!
  • grumbler
    grumbler Posts: 58,629 Forumite
    Name Dropper First Post Photogenic First Anniversary
    £300 is meaningless.
    It's far too much if you are young with an expensive mortgage and just £500 saved.
    It's nothing if you are 50, have a regular income and £500K saved/invested.
  • Robisere
    Robisere Posts: 3,237 Forumite
    First Anniversary Photogenic First Post Combo Breaker
    We don't have 'Spare money'. No such animal, if we have anything left at month's end, it gets transferred to Savings. Occasionally we splash out on a Theatre or show, but we know our kids and grandkids are going to struggle when the Brexit bomb finally goes off, assisted by the Tory landslide in June and associated continuing austerity. There are bad times ahead, people. Whatever 'spare money' you have now, needs to be used for a cushion against what is coming. The current level of Personal Debt in this country is horrifying and unsustainable, I don't see how it cannot end in tears.
    I think this job really needs
    a much bigger hammer.
  • ceb1995
    ceb1995 Posts: 388 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    After bills, about £550 but £400 of that goes towards our help to buy isa and for our wedding. After the wedding will just start saving for legal costs and for a bigger emergency fund.
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    ceb1995 wrote: »
    After bills, about £550 but £400 of that goes towards our help to buy isa and for our wedding. After the wedding will just start saving for legal costs and for a bigger emergency fund.

    Divorce can be expensive!
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Name Dropper Photogenic First Anniversary First Post
    £0. After council tax and before bills I've got about £30/week ... so by the time I've bought food and turned the lights on it's gone :)
  • ceb1995
    ceb1995 Posts: 388 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    Funny:p when I say legal costs I mean to pay for a solicitor for the mortgage, poa and our wills.
  • GTR_King
    GTR_King Posts: 1,794 Forumite
    First Anniversary First Post Name Dropper
    Each month Once I have paid rent (To mum)/Bills/DD's etc

    I usually give my self £600 (Entertainment/Fun things) to spend on what I like..

    Just before pay day/when I get tax credits etc I usually transfer most of my money I have left (Leave some left in account) (Bills/spending account) to savings account and leave it there until i really need it...

    If I don't have enough £ I save up if I want something or a holiday
  • ani*fan
    ani*fan Posts: 1,554 Forumite
    Combo Breaker First Post
    Me and OH have £150 each for clothes, entertainment and the odd bus fare or taxi. It's usually enough. :)
    If you know you have enough, you're rich. ;)
  • trailingspouse
    trailingspouse Posts: 4,035 Forumite
    First Anniversary First Post
    We don't even know how much we'll get each month!! That's the downside of running your own business. On the plus side, 6 years in and we haven't starved yet...

    But seriously - we pay ourselves a monthly salary that uses up our personal allowances, and the rest is in dividends. We pay our dividends roughly every three months - so at the start of the three months there is a lot of money in the bank - it takes a level of determination to remember that it needs to last three months and to budget accordingly.
    No longer a spouse, or trailing, but MSE won't allow me to change my username...
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