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How much spare money do you have each month?

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How much spare money do you have each month?

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
43 replies 47.4K views
loey93loey93 Forumite
62 posts
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
Hi

I am interested to know how much money people have spare each month once they have paid for necessities such as rent/mortgage bills, food, fuel etc ? I am not sure if I am being greedy by allowing myself £300 a month to spend on myself this includes "fun/entertainment" money

I just wanted to get some opinions really :D

Thanks in advance :j
Aiming to pay debts & save! :T
«1345

Replies

  • MABLEMABLE Forumite
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    I have more than enough!
  • grumblergrumbler Forumite
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    £300 is meaningless.
    It's far too much if you are young with an expensive mortgage and just £500 saved.
    It's nothing if you are 50, have a regular income and £500K saved/invested.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • RobisereRobisere Forumite
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    We don't have 'Spare money'. No such animal, if we have anything left at month's end, it gets transferred to Savings. Occasionally we splash out on a Theatre or show, but we know our kids and grandkids are going to struggle when the Brexit bomb finally goes off, assisted by the Tory landslide in June and associated continuing austerity. There are bad times ahead, people. Whatever 'spare money' you have now, needs to be used for a cushion against what is coming. The current level of Personal Debt in this country is horrifying and unsustainable, I don't see how it cannot end in tears.
    I think this job really needs
    a much bigger hammer.
  • ceb1995ceb1995 Forumite
    360 posts
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    After bills, about £550 but £400 of that goes towards our help to buy isa and for our wedding. After the wedding will just start saving for legal costs and for a bigger emergency fund.
  • TheShapeTheShape Forumite
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    ceb1995 wrote: »
    After bills, about £550 but £400 of that goes towards our help to buy isa and for our wedding. After the wedding will just start saving for legal costs and for a bigger emergency fund.

    Divorce can be expensive!
  • PasturesNewPasturesNew Forumite
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    £0. After council tax and before bills I've got about £30/week ... so by the time I've bought food and turned the lights on it's gone :)
  • ceb1995ceb1995 Forumite
    360 posts
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    Funny:p when I say legal costs I mean to pay for a solicitor for the mortgage, poa and our wills.
  • GTR_KingGTR_King Forumite
    1.1K posts
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    Each month Once I have paid rent (To mum)/Bills/DD's etc

    I usually give my self £600 (Entertainment/Fun things) to spend on what I like..

    Just before pay day/when I get tax credits etc I usually transfer most of my money I have left (Leave some left in account) (Bills/spending account) to savings account and leave it there until i really need it...

    If I don't have enough £ I save up if I want something or a holiday
  • ani*fanani*fan Forumite
    1.6K posts
    Me and OH have £150 each for clothes, entertainment and the odd bus fare or taxi. It's usually enough. :)
    If you know you have enough, you're rich. ;)
  • trailingspousetrailingspouse Forumite
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    We don't even know how much we'll get each month!! That's the downside of running your own business. On the plus side, 6 years in and we haven't starved yet...

    But seriously - we pay ourselves a monthly salary that uses up our personal allowances, and the rest is in dividends. We pay our dividends roughly every three months - so at the start of the three months there is a lot of money in the bank - it takes a level of determination to remember that it needs to last three months and to budget accordingly.
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