how much do you save/pay off debt/live on per month

mintymoneysaver

money in, roughly £2200 a month
bills inc petrol,food etc=£1100
spending money including lunches,nights out, birthday and christmas presents=£500

The rest at the moment goes towards paying off our £2700 debt plus anything that we have put on the credit card that month, e.g car repairs.
As soon as the debt is paid off that will become savings...

sezdav

im sure its been said, and sorry if im teaching you to suck eggs but please pay off that next account today! All be it £40, the interest is soooo high. You could save yourself a fiver this month in interest to go towards the other cc!

Income: £1300
Mortgage: £400 (shared with fiance so £800 really)
Other Bills: £300
Food: £150
cc repayments: £100 (plus normally bit extra thrown at it each month)
Other bits and bobs: £200
Isa: £200 ish

Tondella

Income £1565 per month

money towards debt £430 per month, with an additional £57 towards my student loan.

No savings, and no contingency account to spread the cost of big yearly purchases (Christmas, MOT, insurance etc), figured it was better to put all the money we can towards the credit cards and then put MOT etc on a 0% spending credit card, so we can offset as much interest payments as possible.

sezdav

This is what ive dont for the last couple of years tondella. Seems to work well for me.
The only reason i have an isa is because im stable with the 0%ccs and have a wedding to pay for over the next few months so wanted "ready cash" rather than feeling i was getting futher into debt for the wedding.

K9cuddles

Income: £1400
Necessary expenses: £1k (of which £300 to pay debt)
Savings:£100
Discretionary Spending; £300

ms_london

Income: £1551.40

Bills: £418.20 (rent, flat bills, mobile, gym, cinema).

Savings: £900 or £1,000

Left with: £233.20 or £133.20 (depending on how much I save!!).

Before I was debt free I was paying £890 a month into my debts - with the help of a 2nd job, as I was on a lower wage too then.

Spending more than £50 a week on myself feels to extravagent, and I would hate to feel as though I've "wasted" the money on bits & pieces (lunches, meals out, drinking, magazines etc), so I cut back where I can to buy the things that make me happy.!!

Btw - it's amazing that overpaying your mortgage by £100 a month can knock 11 years off it!! That's what I'll be doing when I get my own place (but will probably have to save a £20,000 deposit, being single, and in the hope to find anywhere decent!!).

Good post.!!

Shadowplay_2

Income = £970 - £1,270 (depending on OT & after Pension - TAX - NI -Student Loan)

Living expense = £490 (rented flat with the little lady)

I dont Drive - I Ride, so no real travel expense! :A

Monthly fun, Gym etc = £180

ISA = £150

ING = £150 - £450 (depending on OT)

No debt as of December 2005 except for a £1,000 Overdraft (0%) :j

fruityslh

Joint Income = £2340 (Basic)

Outgoings:
Mortgage £600
Food £120
Bills £440 (inc Petrol)
Savings £300 (towards Hols / Christmas / Emergency / Car or Bike Bills inc Tax & Ins)
Debt payments £750 (Car Loan & Credit Cards)

Extra £50 is there for unexpected day to day above budgeted amount such as Petrol or food/toiletries.

April 2007 when that £750 will be ours to save

I also get paid O/T but it isn't guaranteed (and there isn't much), so don't count it our budgets and if I do some then we'll use the money for a treat or purchase some new clothes, as they aren't budgeted for. My hubby gets a small Christmas Bonus that usually goes into our holiday fund.

smokey112

Joint income - £2400
IPO £440
Mort/sec loan £639
council tax £148 (till March then £127)
other o/g £540

This leaves £600 for food/savings etc - we havd only just started paying IPO this month and are now starting to save

We hope to spend £150 max on food and £100 on petrol per 4 wks

Rest to savings

Once IPO finishes in Jan 09 we want to put all IPO and monthly car repayments (this will finish in Apr 09) onto mortgage and secured loan

never intend to use credit again in life

Ang
x

seanyboy_2

Hi All
Does anybody know of any bank accounts that allow us to split our account into 3/4 mini accounts within the main account. The reason why I want to do this is to live off one mini account but regularly save into another mini account and it will also allow us to budget easily as we will be able to see whether we are overspending or not. The only bank that I can find that does this is "Intelligent Finance"


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