Average monthly Income?

familyms

Hi everyone

I'm relatively new to this, haven't posted on here for several years - just wondering as currently stressing out with regards to income in our house: 1x retired and on state pension, and me working part-time (looking for more hours) and a teenager, we get just over £1700 into our house a month, No mortgage or rent so we pay all utilities - roughly around £650+ and constantly check them to keep payments down, just sometimes we panic and think OMG how on earth are we going to manage, Is it just me or am I just being dramatic about this. Keep a keen eye on deals and trying to get Teen to realise the cost of things and are going to open a bank account for her and pay £40 a month in for her pocket money so she can manage it herself, we buy all her toiletries for her though in shop. Shopping is the other thing we spend far far too much on £500+ a month for 2 adults and a teen, which I personally think is far to much. We don't really socialise just odd bottle of wine at home. Any suggestions or comments most welcome, Please be kind though. Thank you

Darksparkle

I would suggest you post your soa for help and advice.

http://www.stoozing.com/calculator/soa.php

missbiggles1

familyms wrote: »

Hi everyone

I'm relatively new to this, haven't posted on here for several years - just wondering as currently stressing out with regards to income in our house: 1x retired and on state pension, and me working part-time (looking for more hours) and a teenager, we get just over £1700 into our house a month, No mortgage or rent so we pay all utilities - roughly around £650+ and constantly check them to keep payments down, just sometimes we panic and think OMG how on earth are we going to manage, Is it just me or am I just being dramatic about this. Keep a keen eye on deals and trying to get Teen to realise the cost of things and are going to open a bank account for her and pay £40 a month in for her pocket money so she can manage it herself, we buy all her toiletries for her though in shop. Shopping is the other thing we spend far far too much on £500+ a month for 2 adults and a teen, which I personally think is far to much. We don't really socialise just odd bottle of wine at home. Any suggestions or comments most welcome, Please be kind though. Thank you

£650pm for utilities for 3 people - really?:eek:

michelle2008

Can you break down yor utilities please? It seems high but I'm not sure what is included.

familyms

Darksparkle wrote: »

I would suggest you post your soa for help and advice.

http://www.stoozing.com/calculator/soa.php

Thank you for your reply - We don't have any debt, is Stoozing site just for information and advice/support?

diamonds

Dramatic about wasting money ? NEVER can be

Add her toiletries to her pocket money and teach her completely as much as possible budgeting skills add inflation at the rate each year, also tell her contribution when working will be XX with inflation rises.

£650? are you all electricity ?

£1700 for 3 adults... you need to start budgeting together and teach each other.

Remember at 16/18 uni will fall on you too. If thats teenagers plan.

How are your savings? borrowings ? all 3/2 of you ?

familyms

michelle2008 wrote: »

Can you break down yor utilities please? It seems high but I'm not sure what is included.

Hi Michelle
Thank you
Gas/Electric £110
Council Tax £108
Life Insurance £30
Broadband/Freeview £40
Mobiles: £83 (between 3)
Netflix £7
Water £30
TV Licence £13
Next £30
Car Fuel £100
Gym £15
Daughters savings/pkt money £80 = £646

Next is were we get clothing from and have a balance of £50 at moment. I think the main thing is to try and get food shopping sorted. How to do it though as we always seem to be at shops and that is a nightmare. Teen always wants things clothes/makeup/concert tickets etc, which I'm starting to feel like I'm letting her down as we can't afford everything. Thank you

missbiggles1

familyms wrote: »

Hi Michelle
Thank you
Gas/Electric £110
Council Tax £108
Life Insurance £30
Broadband/Freeview £40
Mobiles: £83 (between 3)
Netflix £7
Water £30
TV Licence £13
Next £30
Car Fuel £100
Gym £15
Daughters savings/pkt money £80 = £646

Next is were we get clothing from and have a balance of £50 at moment. I think the main thing is to try and get food shopping sorted. How to do it though as we always seem to be at shops and that is a nightmare. Teen always wants things clothes/makeup/concert tickets etc, which I'm starting to feel like I'm letting her down as we can't afford everything. Thank you

Most of those aren't utilities - you've even got debt repayments in there!

diamonds

familyms wrote: »

Hi Michelle
Thank you
Gas/Electric £110
Council Tax £108
Life Insurance £30
Broadband/Freeview £40
Mobiles: £83 (between 3)
Netflix £7
Water £30
TV Licence £13
Next £30
Car Fuel £100
Gym £15
Daughters savings/pkt money £80 = £646

Next is were we get clothing from and have a balance of £50 at moment. I think the main thing is to try and get food shopping sorted. How to do it though as we always seem to be at shops and that is a nightmare. Teen always wants things clothes/makeup/concert tickets etc, which I'm starting to feel like I'm letting her down as we can't afford everything. Thank you

Mobiles? networks can get a signal at home? Thats v expensive for three. Broadband too!


£20 a week pocket money? I used to get a bus pass (for school) my child benefit every month for ALL clothes and toiletries, I had to work for extra (£5 a week paper round) if I wanted anything - old man had the money - just refused and forced me to learn how to budget with my own cashcard account. Best lessons I learnt including school, it taught me to run my own flat at 16 and own business at 22.

diamonds

missbiggles1 wrote: »

Most of those aren't utilities - you've even got debt repayments in there!

It is expenses. The food budget is defo more then, either high quality or high level of prepared packed foods maybe ?

Andrew_Ryan_89

familyms wrote: »

Hi Michelle
Thank you
Gas/Electric £110
Council Tax £108
Life Insurance £30
Broadband/Freeview £40
Mobiles: £83 (between 3)
Netflix £7
Water £30
TV Licence £13
Next £30
Car Fuel £100
Gym £15
Daughters savings/pkt money £80 = £646

Next is were we get clothing from and have a balance of £50 at moment. I think the main thing is to try and get food shopping sorted. How to do it though as we always seem to be at shops and that is a nightmare. Teen always wants things clothes/makeup/concert tickets etc, which I'm starting to feel like I'm letting her down as we can't afford everything. Thank you

Utilities are gas, electricity, water and telecoms by the way. Looks like you should have a half decent disposable income and looks like you are affording some luxuries with the gym, Netflix etc.

I'm guessing you're spending a lot on food or can at least cut down.