Is £200 a Month Enough???

ms_london

Hiya!! When I was in debt i used to allow myself 50 pounds a week on myself (going out, clothes, cosmetics, birthday presents & misc items) but this was including food, which I notice you are already budgeting for. I think if you can manage to spend very little mon-fri, then it will feel as though you have a little extra to spend at the weekend (or it feels that way!). I like Imelda's theory!!

Some people thought this amount was nothing (usually the ones running up the debt), whereas a lot of people on here managed on a LOT less per week and I always felt like I was being extravagent with what I was spending.

I tried not to "waste" the money each week, and sometimes I would pay little extra bits and pieces into my savings..

Even at the moment I manage to spend very little during the week - I take sandwiches for lunch (well, actually I go home as I live so close to work!), and just go to the gym in the evening. It's so easy to do, that way, at the weekend I feel I have a bit more to spend!!

For example payday is 2 weeks today, so I have $150 each week to last until then....

I think so long as you have budgeted for everything else, its up to you to decide how you spend the remaining money, but definately strike a balance on saving & spending as its amazing how money goes on "little bits and pieces" with nothing to show for it!!

Good luck xx

Brassic

I can't wait for the day when we are able to spend 200 a month on luxuries! That will probably be on my dfd!

IMHO you need to do a proper SOA, and see how much you actually have left over, before you start giving yourself money to spend

GirlRacer_2

£200 per month spare, socialising and new clothes what are these things?????? They don't seem to be in my vocabulary or budget LOL

Sandgrownun

That is so true Lynzpower. I have been working really hard on changing my behaviour, and I think the thinking is slowly following! The catalyst for this has been seeing my service users living in chaos, trying to make sense of it then realising that actually I was the same or worse!

TOBRUK

Hey Sandgrownun, don't be down on yourself, although perhaps you think some of us seem to be hard on you - we only want to help you! It's not the end of the world, you can get on top of this and get rid of your overdraft - you are in control!

Just think, the less you allow yourself a month the sooner that overdraft disappears! Choose one day a week where you take out your allowance (whatever you decide) and that is the amount you have for the whole week - you do not take your debit card or credit card anywhere, you just have to stick to that amount every week. You will surprise yourself. Try not to spend it all and so that way you may be able to reduce your allowance!

Do not be scared of it - take control. Good luck, and if you need more support just come back!

ricksExpensive

It a tough one. I have also tried to stick to £200 for this month so i can save up for Australia in the summer! But its hard going when you normally spend £450+ on stuff! Had my first friday night in last week in over 6 months and it killed me it was awful! so going out with £20 this friday and not taking bank card and when its gone its gone!

choccyface2006

I have £50 per week as spending money but that is between myself and my two daughters and must include food/toiletries/cleaning products. I food shop every fortnight and spend about £40 so I guess we have about £30 per week for other stuff.

I am not in debt but saving for our holiday/Christmas/birthdays. I have done this for the last few years and its worked out great. I know that it limits what we can do during the year but I always save more than I need to so if something comes up I can usually manage to find some extra money.

I think £50 spending for you as a single person should be fine, anything you have left over you can put towards your debts but I wouldn't be too harsh on yourself if you spend the whole amount. I think some treats are essential to keep your motivation high.

Sarah

fififofum

me personally £50 a MONTH for luxuries. It used to be whatever I damn well wanted and that attitiude got me into this mess.

its very hard, but I want to be debt free and soon, so I feel like I have to feel the pinch then I wont do it EVER again!