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  • FIRST POST
    • loey93
    • By loey93 19th Apr 17, 6:10 PM
    • 24Posts
    • 7Thanks
    loey93
    How much spare money do you have each month?
    • #1
    • 19th Apr 17, 6:10 PM
    How much spare money do you have each month? 19th Apr 17 at 6:10 PM
    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

    Thanks in advance
    Aiming to pay debts & save!
Page 2
    • Zanderman
    • By Zanderman 20th Apr 17, 8:44 AM
    • 1,115 Posts
    • 3,499 Thanks
    Zanderman
    £300 per month to spend on myself?! Sounds a lot to me!

    We budget for less than £200 per month between two for 'personal' spend. I'm not sure how I'd spend £300 a month!

    Depends on how you define 'on myself' of course, but OP I think you have plenty to spare - and should consider yourself fairly lucky. But, if you're not already doing this, you should perhaps be considering putting more into savings and pension.
    • mandySaver12
    • By mandySaver12 20th Apr 17, 2:23 PM
    • 20 Posts
    • 18 Thanks
    mandySaver12
    I'm aiming to use 10% of my post tax salary for fun stuff. I earn an average amount and that comes to about £200 a month which I'm finding hard to stick to because the numbers add up so quickly
    • teddysmum
    • By teddysmum 20th Apr 17, 3:40 PM
    • 7,155 Posts
    • 4,222 Thanks
    teddysmum
    We have nothing left each month, as being the miser I am, anything not spent is savings.
    • zippygeorgeandben
    • By zippygeorgeandben 20th Apr 17, 11:37 PM
    • 481 Posts
    • 534 Thanks
    zippygeorgeandben
    I have £673.28 left at the end of each month after all DDs come out. The only thing which has to come out of this is food and then the rest is mine. However, take a look at my signature and since September I've been using whatever surplus I have to pay debts off quicker. This month I have £100 to last me until the 30th because I've paid another £500 off one of my loans.
    End Sep 2016 End March 2017 £8236.57 £6900.91(Tesco 4.8%) £6185.75 £4755.62 (Zopa 4.0%) £5344.50 £3394 (Sainsburys 0% until 06/19) Total debt £19.766.82 £15,050.53 Bronze Pay £1344.50 by Sep '17 SMASHED! Silver Pay £1844.50 by Sep '17 EASY! Gold Pay £2344.50 by Sep '17 Platinum Pay £2844.50 by Sep '17. Original DFD May 2019.
    • Whoknowskt89
    • By Whoknowskt89 21st Apr 17, 8:13 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    I do have what you would probably class as spare money at the end of the month.
    I've budgeted each month depending on what is planned and this includes thinking of savings or credit cards as a bill.
    For example, my debt will be gone in 3 months.
    After my bills, grocery shopping, money to credit card, christmas fund etc there is usually around £240 ish unallocated for... This covers petrol as I walk to work, going out, any take out or lunches out, treats for the cats, clothes etc.
    If I don't spend all of this money or spend less on groceries, money goes to a saving account.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • loey93
    • By loey93 21st Apr 17, 11:01 AM
    • 24 Posts
    • 7 Thanks
    loey93
    Thank you everyone for your responses! It's very interesting to hear different peoples views

    I think I would go crazy if I didn't allow myself a certain amount of money each month that I can spend purely on myself but thats just me

    I might reduce my disposable income and up my savings instead!!
    Aiming to pay debts & save!
    • Sea Shell
    • By Sea Shell 21st Apr 17, 1:44 PM
    • 283 Posts
    • 201 Thanks
    Sea Shell
    Luckily there are very few things that I want....and even less things that I need.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • grumbler
    • By grumbler 21st Apr 17, 2:07 PM
    • 51,384 Posts
    • 21,751 Thanks
    grumbler
    I might reduce my disposable income .... !!
    Originally posted by loey93

    disposable income
    income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • Livelongandprosper
    • By Livelongandprosper 21st Apr 17, 3:23 PM
    • 277 Posts
    • 654 Thanks
    Livelongandprosper

    disposable income
    income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.
    Originally posted by grumbler
    That makes all my income disposable as I don't earn enough to pay either

    Plus it's variable as I'm on zero hours and work between 15 and 30 hrs a week, depending on the needs of the business

    Some weeks I have just enough to pay for the groceries, petrol for my car, and money put aside to bills, other weeks I have loads left over. That gets put aside for the weeks when I'm short. Personal spends are extremely miserly. I had a haircut this week, first since Feb 2016 because these past two weeks the hours have been good. Oh and a five pack of knickers bought half price And I'm looking to buy a new foundation next weeks wages

    I could work more, earn more, have more spare money, but wth, I'm happy with my lot
    • teddysmum
    • By teddysmum 21st Apr 17, 5:08 PM
    • 7,155 Posts
    • 4,222 Thanks
    teddysmum
    Luckily there are very few things that I want....and even less things that I need.
    Originally posted by Sea Shell


    My parents were always careful with money and I'm the child who inherited the inclination. I have money from doing surveys which really is my treat, but I'm reluctant to waste it on what is not necessary.


    Lots enjoy eating out, but I tend to think about how little I could do the meal for, without the parts that I dislike and with no temptation from the desserts which I really shouldn't have.


    Perhaps I am a miserable miser, but seeing people splashing out on takeaways (that look horrid anyway), alcohol(which I don't like), days out which I wouldn't enjoy (health reasons) and indulging children only to have the items wasted, makes me cringe.
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