Budget help

retiredandskint

I've been asked to help someone set up a budget. The family consists of mum, dad, two daughters (8 & 12) and dog.

Can someone help in what amounts, if possible, should be set aside for

Food
Clothes
Haircuts
Anything else a growing family needs.

My children are all grown up and left home over 20 years ago and times have changed so I've no idea what sums of money are likely to be involved.

Ilona

That's like asking how long is a piece of string. There are so many variable, only someone with in-depth knowledge of their lifestyles could make some suggestions, all replies from forum members will be guesses. First they should complete a Statement of Affairs, work out how much they are spending now, list incomings and outgoings, then look to see where they could tweak it, spend less, earn more. It's not up to me, a complete stranger, to tell them what they should be spending their money on.

ilona

retiredandskint

Ilona wrote: »

That's like asking how long is a piece of string. There are so many variable, only someone with in-depth knowledge of their lifestyles could make some suggestions, all replies from forum members will be guesses. First they should complete a Statement of Affairs, work out how much they are spending now, list incomings and outgoings, then look to see where they could tweak it, spend less, earn more. It's not up to me, a complete stranger, to tell them what they should be spending their money on.

ilona

Thanks for your reply. I wasn't expecting an in-depth answer just some ideas as I think they may need to send SoA to their creditors.

Ilona

It's good of you to try and help them, but you will have to work with them to try and work out what their aspirations are, what kind of life style are they used to, are they open to make changes, give up things, cut down etc.

At a guess, food £15 per person per week. Clothes £5 per person per week. Haircuts, £1 per person per week. I can't comment on what a growing family needs because I don't have one. I have a very frugal life, I spend nothing on haircuts I cut my own. I shop late for yellow stickers, I buy my clothes from charity shops and car boot sales.

Someone else will come along with a few more ideas, someone who leads a not so frugal life. Best of luck.

ilona

retiredandskint

Thanks Ilona. I understand where you're coming from, we too lead a frugal life which is why I'm asking for ideas.

I don't understand the need to have the latest gadgets for example mine last until they just don't work anymore and the cost of repair is more than replacing.

They both work but husband had to take paycut and I think that's where their problems started.

Ilona

This is happening to so many families these days, income drops, already in debt often due to leading an unsustainable lifestyle, changes need to be made but no idea where to start. I wish I could help people, you are a good friend to try and help them.

It might mean a bit more delving into their personal life, something which people are reluctant to do. You can only do so much to help, the rest has to come from them. Depends how close you are to them, are they family, close friends, or just someone you talk to in the pub.

If things are getting pretty desperate you might suggest one of the charities like Stepchange or Christians Against Poverty, they have helped so many. Can they come on this forum and ask direct?

ilona

retiredandskint

Ilona wrote: »

This is happening to so many families these days, income drops, already in debt often due to leading an unsustainable lifestyle, changes need to be made but no idea where to start. I wish I could help people, you are a good friend to try and help them.

It might mean a bit more delving into their personal life, something which people are reluctant to do. You can only do so much to help, the rest has to come from them. Depends how close you are to them, are they family, close friends, or just someone you talk to in the pub.

If things are getting pretty desperate you might suggest one of the charities like Stepchange or Christians Against Poverty, they have helped so many. Can they come on this forum and ask direct?

ilona

Thanks again. Yes they are family and I'm going to suggest coming onto the forum. Depending on the debts I may recommend using one of the debt charities.

datlex

Budgeting for hair cuts should be straight forward. You just look at how often each person needs to get their hair done and times that by the cost. Then divide by 12 for monthly or 52 for weekly. Mine for example works out to £5 a week.

knightstyle

This is from the Guardian a few years ago so needs updating.
Couple with two children
Food and drink £103.53
Clothing and footwear £29.26
Housing costs £123.56
Household goods and services £27.11
Childcare £190.47
Personal goods and services (inc health) £27.39
Transport £35.02
Social and cultural activities £90.08
Total £626.43
Total excluding childcare £435.96

https://www.theguardian.com/uk/2008/jul/02/welfare

retiredandskint

That's brilliant knightstyle. That gives me something to work on. Thank you.

Tink_04

I'm a family of 4 - 2 adults - 2 kids 8 & 4 and 2 cats - I do ya on £300 a month which is hard. My kids get school dinners - one is free and 1 is £10.50 a week ( which is not included in the shopping budget.

I put £30 a month away for clothes/shoes etc i I have school uniforms - winter clothes - school shoes trainers wellies - party clothes plus any other things which is needed like swimming stuff/ brownie uniforms.

Hair cuts my son is £7 every 6 weeks and my daughter is £15 a bout 3 x a year.

Good luck to your friends x