How much disposable income is comfortable?

getmore4less

Why not do a proper budget?

Start with a SOA.

At the end of the day you priortise where your money goes the more expensie the car the less you have for other stuff a budget and SOA is the plan on your priorities.

no guesses like I home I don't get big bills plan for everything and savings to cover these bills you did not plan for.

Plan include loss of income strategy.

Longer term you need to transfer from borrowing to get things to saving to get things.

Borrowing just increases the size of the pot you need to cover loss of incomes.

If kids are on the horizon you need some serious forward planning, committing to debt payment without a plan in place is not sensible(could say mad).

browneyedbazzi

As mentioned above I do have savings (and a pension and AVCs) as well as a stable job. I don't currently have any debt aside from a mortgage (which is very low and easily manageable). I don't feel the need to share all the details here as this thread was about discretionary spending and what is comfortable day to day rather than long term financial planning.

Yes, having kids would impact on my life in a huge way- both short and long term- but the focus on 'what if you have kids' is a bit of a red herring because it is pretty unlikely. If it did happen I think we are in a much better position than many people to cope with that eventuality.

I know some people love a SOA with every penny accounted for, and I can see the benefits when you live on quite a tight income, but I find that style of budgeting far too restrictive.

Lily-Rose_3

That sounds like you will have PLENTY of money to live on. Go for it.

Cyberman60

Some people that I know need high disposable income because they just like spending and haven't a clue what saving is, and don't care whether they can get a better deal somewhere else. Others such as myself need relatively little disposable because we are sensible and always look for the best deal, so it depends on the person.

FBaby

Yes, having kids would impact on my life in a huge way- both short and long term- but the focus on 'what if you have kids' is a bit of a red herring because it is pretty unlikely

Then that's fine. As said above, the issue is clearly not whether you can afford it as your situation is now, clearly you can. Then again, only you know if your disposable income will be enough. Some people make due with £10 pair of jeans, others would never be seen with a pair under £200.

supermassive

You're already very comfortable then. Can I borrow some cash, please? Thanks :P

Ozzuk

Plan for the future but live in the present. Sure you could get pregnant tomorrow, you could also get hit by a bus. Cheery thought! Whilst I have money, I'll spend, if there is something I want, I get it (within reason). But I also keep one eye on the future.

My ex-mother in law saved all her life, worked really hard and retired early at 54 hoping to do lots of travelling and enjoy life more. She had a heart attack and died the same year. That moment adjusted my perspective on life.

getmore4less

browneyedbazzi wrote: »

As mentioned above I do have savings (and a pension and AVCs) as well as a stable job. I don't currently have any debt aside from a mortgage (which is very low and easily manageable). I don't feel the need to share all the details here as this thread was about discretionary spending and what is comfortable day to day rather than long term financial planning.

Yes, having kids would impact on my life in a huge way- both short and long term- but the focus on 'what if you have kids' is a bit of a red herring because it is pretty unlikely. If it did happen I think we are in a much better position than many people to cope with that eventuality.

I know some people love a SOA with every penny accounted for, and I can see the benefits when you live on quite a tight income, but I find that style of budgeting far too restrictive.

Nothing restrictive you don't have to share budget are about planning properly and making choices budgets empower and give control of your future.


Part of your issue is you have a skewed view of what's disposable income, its what's left after essentials.

Eg. Some clothes are essential, gym is discretion from disposal.

What a budget and soa gives is more clarity.

The reality is those with more money need a budget more than those that struggle if you want to avoid just throwing money away.

Dithering is because you don't have clarity of your finances.

74jax

I have about £300-400 a month disposal and hubby has £2500+ I manage on mine and hubby on his . I think it's relative to the individual.

Can you use to pay debts off earlier? If you don't need it to spend.

getmore4less

Another way to look at it is what are you giving up to fund the car

Savings? You save less

Spending? What is going to be replaced with the car?

If it is a pay rise that's different.