Househol monthly spending

ErcE

It's my first post here, so hi everyone and I'm hoping this thread is in the right area of the forum...

Basically, in my house I'm a 'Head of Finance', so I'm looking at how much money is coming in and going out and making sure our Household is making 'Profit'.

I was just wondering though, how do our household's outgoings compare to other British families, so thought I share with you my numbers and ask you for the same? I also included monthly mortgage as a separate number as it's the biggest one.

Monthly Av. Outgoings in the last year = £2,850 out of which £496 (17.5%) is mortgage
(Family of 3, detached house in small town in the Midlands)

So would anyone like to share these numbers so we can comare?

Thnaks

sulphate

We are a couple (although have a baby on the way), live in a small 2 bed end of terraced house in East Anglia. We put £1400 in the joint account each month to cover all bills, food etc. Our mortgage is £482.

We also each keep £150 "luxury" money to ourselves each month. The rest of it we either save, or spend as we both agree - things like vet bills, car repairs etc which are essential but not a monthly expense.

millysg1

sulphate wrote: »

We are a couple (although have a baby on the way), live in a small 2 bed end of terraced house in East Anglia. We put £1400 in the joint account each month to cover all bills, food etc. Our mortgage is £482.

We also each keep £150 "luxury" money to ourselves each month. The rest of it we either save, or spend as we both agree - things like vet bills, car repairs etc which are essential but not a monthly expense.

I have a very similar set up to the above, 2 people with baby on the way, 3 bed detached on south coast.
Total of £1830 on bills including food and petrol, of which £930 is mortgage :eek:

We have £125 each for luxury/other money and then rest into savings for spending on house, MOTs, holidays etc.

fairy_lights

ErcE wrote: »

Monthly Av. Outgoings in the last year = £2,850 out of which £496 (17.5%) is mortgage
(Family of 3, detached house in small town in the Midlands)

That seems quite high for monthly outgoings, especially as your mortgage is so small. Is that juts what you spend on essentials or does it include savings and luxuries as well?

ErcE

fairy_lights wrote: »

That seems quite high for monthly outgoings, especially as your mortgage is so small. Is that juts what you spend on essentials or does it include savings and luxuries as well?

This is everything we spend. All Direct Debits, shopping, holidays, money withdrawals, days out, petrol, entertainment ....literally EVERYTHING that goes out of the account

£2,850 a month x 12 (months) = £34,200 spend a year for whole family.

It comes out of the Budget Planner on MSE website, it takes to account all outgoings, not just DD's.

getmore4less

If you want to compare you need to look at a breakdown.

Not everyone have incomes over £50k to work with.

Faith177

Household bills for us is £380 that includes a "slush fund" of £87 a month (which OH doesn't know about) and is for council tax, gas & electric, water rates, sky (including phone and Broad Band) and TV licence. I only pay Council Tax & Water over 10 months (again OH doesn't know this) by doing this i have created a "buffer" so to speak so if something increases for 1 month ie sky then it's not such a hit and if any thing needs replacing in the home that's minor it can come from that

My mortgage (OH doesn't pay this) is £372 a month

We are a 3 person household (housemate as well as OH) 2 beds and a boxroom in Essex (not far from London)

We take it in turns to buy shopping and that varies dependent on what we are working. It's usually about £20 - £30 a month

Our other main expense is animal food about £80 a month again we take that in turns but on a monthly basis

getmore4less

With that level of outgoings you have a very nice lifestyle.

If you want to do sensible comparison you need to break it down.

Not everyone will put around £1kpm on the same luxuries you spend yours on.

ErcE

Well, I'm not on £50k a year ...even when you incl. my wife's salary.

So you guys say £2.8k a month it's a lot, ok...

Below is the address to image with detailed breakdown from the MSE Budget Planner. Just put www in front of it (I'm a new user and it doesn't allow me to put any hyperlinks)

I'll just add that £800 a month from 'in home' section is supermarkets / food shops & in the 'Big one offs' section £250 is for holidays (c.£3k a year, incl. tickets and literally all other exp.). also we support our parents a bit, they help us so we dont have to spend anything on the childcare.

So how does this compare to you guys? Would anyone else like to share this info from the Budget Planner?


imageupload.co.uk/images/2014/11/24/exp.jpg

sulphate

You spend £800 a month on food?

Our mortgage is similar to yours but these are our essential outgoings, although as I said this doesn't include non monthly essentials, and we don't have children yet.

mortgage £482.05
gas & electric £63.00
phone & internet £40.00
council tax £104.00
water rates £36.00
tv licence £24.25
house insurance £19.03
petrol £250.00
diesel £100.00
food £180.00

total £1,298.33

InsideInsurance

A direct comparison is of little value, most of us earn different amounts and have different priorities in life.

Some people are happy with one holiday a year in the UK using newspaper vouchers and are happy with that plus saving a considerable amount of their income. Others their priority is seeing the world and would rather spend much more of their income on travel even if it means saving a lot less.

What are you actually wanting help to achieve?