How much disposable income do you have?

Mumolulu

joe_purdy wrote: »

I'm 18 and just changed my hours from 14 (this was while i was at college) to 28 hours a week at the start of april, only working as a customer assitant but hoping to train up in management within the next few years

so when i next get paid (my first decent wage) i will get around £750 after tax and national insurance.

I only pay £80 a month board to my mum at the moment although think realisticly it should be more and i dont have anything else to pay for apart from my driving lessons but i pay in blocks on 12 and only have 1 a week so thats like every 3 months

So that leaves me with £670 a month which is pretty good going i suppose. Im not silly with my money though and do try to save a good amount each month. I also have several "money boxes" in my room which cant be opened unless using a tin opener so i cant be tempted! I save £5 a week for christmas, have a "holiday fund" tin and also have a little pot which i put randon pounds in then when my phone needs topping up i just use that!

sorry to blab on, i find it really intresting how much people have left, hoping that one day i'll have as much as some of you

Going completely on your username, I'm assuming you are a male? I honestly hope my boys are as respectful to me as you are your own mother in terms of money and dear god, I hope they are as sensible.
Good luck to you.

After absolutely everything, including food, all bills, petrol and £100 in savings, and £100 off credit card, I have approx £150 left, but this generally gets spent on anything my children need, or any luxuries, or any birthday presents etc, so its not that much really....:(

slummymummyof3

We have about £2k left over after most outgoings each month which are currently being spent on an extension and major home improvements without additional borrowing, also overpay the mortgage (but this is included in the budget before the surplus is calculated). We don't tend to holiday as such but have 3-4 days away generally in the UK booked last minute.

lkmc01

I'm 25 and a full time Masters student. My partner works full time and we have a 4 year old. Our finances are -

Income

£1300 wage per calender month after tax
£175 tax credits
£68 child benefit

= £1543 per calender month

Outgoings (calendar month)

rent = £500 (32% of income)
council tax = £81 (5% of income)
water bill = £35.60 (2% of income)
gas bill = £33 (2% of income)
electric bill = £29 (2% of income)
petrol = £173 (11% of income)
car insurance = £27.50 (2% of income)
car tax = £10 (0.6% of income)
tv licience = £12.12 (0.8% of income)
nursery = £110 (7% of income)
food = £150 (10% of income)
mobile x 2 = £20 (1.3% of income)
internet and phone = £18.95 (1.2% of income)
holiday = £42 (2.7% of income)

so we have left £311.83 per calander month to go on disposable income, dentists, persciptions, car MOT, clothes, christmas, birthdays etc... between 2 adults and a 4 year old.

I don't know how a family who are on £40,000 plus per year before tax (20 grand each for adults) can ever be skint.

LeeSouthEast

lkmc01 wrote: »

I don't know how a family who are on £40,000 plus per year before tax (20 grand each for adults) can ever be skint.

By spending more than they earn.

Pobby

Good thread I feel. I have some of my family thinking that £40 grand a year is not a great deal to live on. What rubbish. However if it can easily be spent if the basics of watching waste, too many hols and so on are not kept under check.

Since the recession, we live on a fair bit less than that. Have the odd meal out, weekend away and still doing the ancient house up. Also like to chuck a fair bit in the savings. With smoking now out of the way, that`s a big plus. Oooops, still a bit naughty on the beer!

Will be retiring in a few years and as business is really not so great, been working a lot from home. Frankly I hate it. So even though we will have a bit coming in, about the same as now, we both think that a couple of days a week work will be beneficial.

As an add on. I wonder what older folk think regarding the very low returns they have on savings??????

Souk08

Hey I'm 30 and single and spend £40 - £50 a month on food and £200 on fun. Rest goes on my regular outgoings ie rent, council tax, telly licence, phone, internet etc. Spend about £100 a month paying off my small amount of card debt. Have a really good social life but do need to plan ahead a wee bit.

Mags_cat

I'm 39 and single.

I earn £3,100 (net) a month.

At the moment, my outgoings are between £2,000 and £2,200 depending on how much fishing goes on

I aim to save £1,000/month. No significant debts, so it all goes into an ISA or other account.

catmiaow

slummymummyof3 wrote: »

We have about £2k left over after most outgoings each month which are currently being spent on an extension and major home improvements without additional borrowing, also overpay the mortgage (but this is included in the budget before the surplus is calculated). We don't tend to holiday as such but have 3-4 days away generally in the UK booked last minute.

WOW would love 2k each month to myself. I can dream...

frugalzzz

We have a fair chunk of disposable income after we pay all our bills and service our debt. Approx 2.2k

We commit some of that to a Holiday fund, some to a Christmas fund, and some for clothes and entertainment. We always, always, always have some sort of emergency however...so I never think of it a completely mine. I just get to hold onto it until aforementioned emergency presents itself!

ally18

Hi all,

Thought I would add my tupennyworth!

Im (sadly) not young, single mum, 3 kids. I have exactly £5 per month left as disposable income! I do save for xmas for my kids but I class this as a bill plus £50 to spend on my kids (again a bill).

After all bills are paid, I allow myself £20 for me per month. I very rarely go out and if I do, its to do with something that doesn't cost any money.

Only debt I have is my mortgage which I am happy with.

If I had the sort of disposable income that some people have......well...not sure how I would deal with it, not having had that sort of money before. I can quite understand how it must be to spend it though and to live to your means.

I live to my means, simple as that.