So....just how much money is 'enough' ?

debbycatz

Hi All

I have been reading through a couple of threads lately and I was struck by how much incomes can differ and how someone who could be earning 3 times as much as me can be in debt. This lead me to wonder, just how much money do we judge to be 'enough' to enable us to live a debt free existance and have a few nice things in life

I earn around £13,000 and have no debt (apart from mortgage), but I feel that I don't have enough 'spare' cash. I have enough to pay the bills but I have to budget very carefully in order to afford anything above normal bills and groceries. I feel that if I earnt around £18,000 then that would be *my* enough. I would have enough to pay stuff and feel like I could splash out a bit also now and again.

So, how much is your 'enough' ?

kinkypixie

Hey Debby,

I sometimes think that whatever you earn isn't enough!! We all seem to live beyond our means hence the debt!

My salary is around £18000, it used to be enough, but not anymore.

My enough would be a minimum of £22k at the moment!

I admire you surviving on £13000.

postingalwaysposting

at the momment i earn about £9,000/£10,000 per year, i that is my enough but i would love another £2,000 a year

GirlRacer_2

I get around £25K a year and find that I can cope with that. I'd be better off without my debt, but it is manageable debt and its only on a few cards. I own my own car and can afford little luxuries which include an annual holiday abroad.

Gemmzie

I think most people just end up expanding their outgoings up to the max and beyond of their incomings, whatever the scale.

helping_hubby

I kind of work things out joint...combined we earn £44k. This would be plenty if we were debt free. We could comfortably live with our mortgage, save for home improvements and holidays. As it stands we don't have a penny spare.

quietheart

or would it be clearer to say how much money you have left per month after paying out all the essentials and if it's just for you or for a family.
we have £400 a month left for a family of four and life would be easier if that was £600
but i bet there's people who think we're well off.
horses for courses;)

Hermione54

I think Gemmzie is right. Most of us seem to spend perhaps 10% above what we earn, which is why we're on these boards. I have around £31K a year with no mortgage or rent - that surely ought to be more than enough, but it isn't, to my shame. I really admire the OP managing on £13k.

GirlRacer_2

I got £650 per month leftove each month for me and the 2 children. I'd like it to be £800, roughly £200 per week, but we can all dream Saying that I have just cut down my monthly outgoings by £50 by getting a cheaper mortgage and life insurance premium and combining by phone line and broadband and hopefully I should be better off with an increase in tax credits child benefit and the annual NHS pay rise!!!!!

loopyone

Hmm my enough would be me or DH earning about 40K, we currently earn over 65K between us, yet we are in debt and have no spare cash!

It sucks, but our rent is over £1100 a month the rest of the bills are £700 and thats just the essentials!! Council tax heat etc.. the loans credit cards nursery fees petrol food is all on top of that!
I couldnt imagine earning 13K a year, even when i work part time i wont be earning that, I do admire the OP for living on that, though i presume its a lot cheaper part of the country then here !

postingalwaysposting

rovers wrote: »

or would it be clearer to say how much money you have left per month after paying out all the essentials and if it's just for you or for a family.
we have £400 a month left for a family of four and life would be easier if that was £600
but i bet there's people who think we're well off.
horses for courses;)

I have about £250/£300 a month spare after bills and thats fine for me (once my debt is repayed) if however i would like to drive this would be nearly impossible