How much do you have after bills etc?

TartanSaver

You make no mention whatsoever of your costs. I live on significantly less than £1200/mo (before rent, too), but I would be lying if I said that was enjoyable.

You should be able to live quite comfortably on £1200, but perhaps we have a different definition of comfortably. If you're quite a long way from normal retirement age, it's worth thinking about how certain you are your income is reliable, and any big costs you might face. In 40 years you can expect to replace the boiler in all of your properties twice, for example. You may need to do structural or roof work. You may have voids. Rents may fall (as unlikely as that currently seems...)

Personally, I couldn't cope doing nothing, psychologically. Maybe you could look for a job you'd enjoy more instead? You could go part time, or try self employment. It would be worth thinking about what you actually want out of life, what you would do with your time, and whether you could afford to do it with £1200/mo. Otherwise you could land up having all the time in the world but no money to do anything interesting with it.

TriggerCut92

I spend a lot on things. But a lot of the things I've bought are durable and I don't need anything more.

Was just really looking to see what people here live on after they pay bills etc

elsien

I have about £500 pm left over once essential bills come out. That pays for everything else - food, social life, clothes, holidays, pets, savings fund for when the car dies or the roof blows off etc.
It's tight, because I like good holidays abroad. It would be less tight if I was satisfied with a week in a caravan park instead. If I was on JSA I'd have nothing left over but it would cover it because it would have to. Do your friends and your social life revolve around costs you wouldn't afford any more?
So what's important to you, and what would you have to give up?

TartanSaver

About £400/mo after housing, utility and transport costs.

TriggerCut92

elsien wrote: »

I have about £500 pm left over once essential bills come out. That pays for everything else - food, social life, clothes, holidays, pets, savings fund for when the car dies or the roof blows off etc.
It's tight, because I like good holidays abroad. It would be less tight if I was satisfied with a week in a caravan park instead. If I was on JSA I'd have nothing left over but it would cover it because it would have to. Do your friends and your social life revolve around costs you wouldn't afford any more?
So what's important to you, and what would you have to give up?

Thanks for the reply. I do go out sometimes to clubs and the rest of the money is usually spent on food, cinema etc. I think I spend a lot of pointless things. And I think if i budgeted to a certain amount without my job then I'd be a lot happier

HappyMJ

TriggerCut92 wrote: »

I spend a lot on things. But a lot of the things I've bought are durable and I don't need anything more.

Was just really looking to see what people here live on after they pay bills etc

After I pay the bills I have nothing left over. Every penny of my income is allocated to a budget category. I use credit cards to pay for emergencies and things I have not budgeted for.

LXdaddy

Do you want to be able to have Orange Juice available in your fridge?


A long time ago a work colleague was considering a significant change in work, leaving his "steady" job and setting up in business on his own. We discussed the risks that could be involved, one of his points was that his income would almost certainly fluctuate and initially might be significantly lower. So he considered his ability to flex his lifestyle, for example would he be OK if he got to the position where he didn't have Orange Juice available in the fridge.


Everyone's needs/wants are different, only you can decide how much is enough.

GTR_King

After I have paid my Rent & car insurance (To Mum) & Sky bill.

I usually have about £1,100 to save and spend on what I like but don't usually spend it all..

166million

£60-100 a month on fripperies. I suppose it depends on what you class as 'bills, etc.'

Do the budget brain thing on here and work out what you can live with/without/ what is essential?

TriggerCut92

166million wrote: »

£60-100 a month on fripperies. I suppose it depends on what you class as 'bills, etc.'

Do the budget brain thing on here and work out what you can live with/without/ what is essential?

Budget train? Fairly knew on here, can you point me in the right direction