Adulthood bills

goRt

Divorce / CSA (CMEC as it is now)

sebdevine123

ok............................

LindseyandMatthew

we have £12,500 and have all of the above including car, car tax, insurance, a bit for just buying what we fancy. We have 2 kids and are well presented and don't struggle so it is very doable in my opinion

sebdevine123

wow thats quite somthing, thanks:) I supose judging by everyones opinion, it just depends on how you live, and how much you pay for luxeries, so if you play it smart you can enjoy alot in life for not much money.

PasturesNew

sebdevine123 wrote: »

wow thats quite somthing, thanks:) I supose judging by everyones opinion, it just depends on how you live, and how much you pay for luxeries, so if you play it smart you can enjoy alot in life for not much money.

The previous poster's income might appear to be £12,500, but don't forget there's all the child tax credits/working tax credits/child benefit on top. And (I could be wrong), but I think that poster is also a carer, so might also be getting additional DLA money.

So it's not the same £12,500 you're thinking of. It's £12,500 income + benefits.#

Also, their housing costs might be significantly less than other areas.

sebdevine123

Yes of course, but still impressive.

Fire_Fox

sebdevine123 wrote: »

Yeh im just talking about fixed monthly bills, of course there are other costs such as tv lisence, buying a car, tax for it, mot repairs and so on, but these arent every month costs, im just wondering what fixed monthly payments you would be looking to pay.

sebdevine123 wrote: »

And yes you have all your seasonal expenses and well being, hair cuts and stuff, house appliances, but again they dont have to be paid for every month, and whats a hair cut lol, 10 pounds a month? easily taken out of savings or leisure money

Not accounting for EVERYTHING on a monthly basis is exactly how many of the people on the Debt-free Wannabe board got into a mess. They pay their monthly bills, spend what is left on leisure and then when it comes to annual expenses or the car breaking down they slap it on the credit card. Your hair cut may only be £10 a month but once there are four of you that might be £40 a month, more if your OH has her hair coloured.

This is the budget planner the DFW board uses and it is brilliant for making you really think about where every last fiver of your income goes - all those cash machine withdrawals.
http://www.makesenseofcards.com/soacalc.html

sebdevine123

Thanks, but im not going to be stupid a forget the anual costs. Savings are put away by OH and myself for big time anual bills and unexpected repairs or wht ever else life throws at you, and im very against credit cards so i wont be getting into any debt troubles, but thanks for the heads up, and ill check out tht budget planner. right now i use a spreadsheet, where i input my income and then add in all my expensies for each month(not forgeting anual bills) and it tell me how much i have left out of my pay packet, and i can play with it to see whats best, for example if i want more savings and less leisure money one month i simply change it up:) but yh, lots of ways of doing things i guess everyone has there own way

shegirl

sebdevine123 wrote: »

Thanks, but im not going to be stupid a forget the anual costs. Savings are put away by OH and myself for big time anual bills and unexpected repairs or wht ever else life throws at you, and im very against credit cards so i wont be getting into any debt troubles, but thanks for the heads up, and ill check out tht budget planner. right now i use a spreadsheet, where i input my income and then add in all my expensies for each month(not forgeting anual bills) and it tell me how much i have left out of my pay packet, and i can play with it to see whats best, for example if i want more savings and less leisure money one month i simply change it up:) but yh, lots of ways of doing things i guess everyone has there own way

Another one you may want to add for future purposes (which I think is essential if you have a family) is life insurance

I think you could manage everything you have considered on 20k a year.Great that you are thinking about it now too,it's not doing that that gets a lot people in a mess or not living how they imagined

sebdevine123

Yeah life insurance will be a good one thanks, I do like to think that being so prepared will help me in the long run, be debt free and live on what i can afford, unlike many people who let there credit cards do the spending, but yeh, everyones different. Cheers for advise