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It's time to start digging up those Squirrelled Nuts!!!!

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  • Kim1965
    Kim1965 Posts: 550 Forumite
    500 Posts Second Anniversary Name Dropper
    Kim1965, I am have 2 daughters, early 20s and a wife, the only reason I am working is to prop up their lifestyle, I am not at all materialistic, never have been, I just don't need stuff, whereas the 3 women in my life have an excellent propensity to spend, for example I noticed the other day my wife has 3 dressing gowns, 3!, surely one is enough. Personally I don't have any. Just a simple example. Don't mention bags I reckon she must have between 10 and 15. Shoes, just too many, Coats loads, why so many? I have 2, one winter coat and a jacket for spring/autumn.

    So I know if I lived on my own I would have plenty of money and could stop now, however I'm not so convinced when factoring in daughters and wife, and to answer "does any of it flow back", in my experience no.
    Three women  ransacking your wallet and out voting you.
    You my friend are going to heaven! 
     I think as a couple all bills, car costs, food costs £1200  pm, 3 bed bungalow, rural midlands, only band c c  tax. 
     Our current spend is about £ 2600 pm, sometimes more. This will come down mid next year. 
      
  • SouthCoastBoy
    SouthCoastBoy Posts: 1,084 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    edited 7 January 2023 at 8:25AM
    We or rather I have just completed a 12 month experiment. Opened a new account and put £2600 a month in there, and most items paid from it, exceptions are council tax, life insurance and some mobile phone contracts, which equate to around 300 a month, so total spend 2900 a month. We have ended up with a float of around 6000 so 500 a month therefore i think 2500 would be OK to live off. That 2500 per mth cost also included 3 flights to Australia which cost 4800, so potentially could be 2100 a month. My long term planning is 2500 per month on 2020 values so around 2800 per month now although next year is an exception as have one more year of uni costs, around 8k.
    It's just my opinion and not advice.
  • Kim1965
    Kim1965 Posts: 550 Forumite
    500 Posts Second Anniversary Name Dropper
    SouthCoastBoy. Is your wife on board with your plans? So when uni finishes approx £2100 pm or 2x tax allowance.
    I guess, you have a seperatr pot for house/ car capital ecpenditure?
     This is a similar figure to mine, i think my running costs are a tad lower. If i  view that figure with a historical perspective, it seems tiny... But in reality in retirement it should be ok.
     I can still dříve down costs though and this where this thread is useful. Im pleased with myself, my bro set up iptv for me last night £5pm, i can now ditch sky, saving £802 per year. The items im looking at next are the 3 mobile phone contracts I pay for (£90 pm), broadband £45 pm, AA £21 pm., grocery bills£100 or more. 
    For too long my focus has been on earnings, which at the moment is ok as long as im saving a lot. Last month was a disaster, i saved £600 into iny pension, unexpected ly sank (invested) £1100 into my son and was coerced into spending £1200 on xmas. My family reckon im scrooge, but i dont need any of the stuff they deem essential. Any way im hyperventilating now so i need to calm down. Lol
  • pensionpawn
    pensionpawn Posts: 1,016 Forumite
    Seventh Anniversary 500 Posts Name Dropper
    Kim1965 said:
    Kim1965, I am have 2 daughters, early 20s and a wife, the only reason I am working is to prop up their lifestyle, I am not at all materialistic, never have been, I just don't need stuff, whereas the 3 women in my life have an excellent propensity to spend, for example I noticed the other day my wife has 3 dressing gowns, 3!, surely one is enough. Personally I don't have any. Just a simple example. Don't mention bags I reckon she must have between 10 and 15. Shoes, just too many, Coats loads, why so many? I have 2, one winter coat and a jacket for spring/autumn.

    So I know if I lived on my own I would have plenty of money and could stop now, however I'm not so convinced when factoring in daughters and wife, and to answer "does any of it flow back", in my experience no.
    Three women  ransacking your wallet and out voting you.
    You my friend are going to heaven! 
     I think as a couple all bills, car costs, food costs £1200  pm, 3 bed bungalow, rural midlands, only band c c  tax. 
     Our current spend is about £ 2600 pm, sometimes more. This will come down mid next year. 
      
    Three (all teenage for almost 2 years) daughters, plus wife. It was an emotive environment at times, however when the eldest two moved out I wept when I saw how much the water bill fell  :D
    Surely that deserves the parenting VC?  :D
  • As the talk is currently on monthly expenditure, I’d be interested to know how people spread (or not) their council tax?  Ours is £275 pm, and I’ve persisted with paying over 10 months, treating February’s and March’s ‘months off’ simply as a ‘bonus’.  I put last year’s bonus into our ‘energy cost reserve’ to help smooth out this winter’s fuel bills.

    How do others approach it?
  • You must be like my wife then SS , she has her own set of warddrobes and I wouldnt be lieing by saying at one point she had one coat / one pair of daily trousers / 2 pairs of work trousers and 2 work blouses. She has a work pair of boots and a pair for going out when not working. Most of her 'home' clothes are my cast offs , my old tee shirts or jumpers (she likes them baggy). She has absolutely no interest in anything materialistic , none whatsoever. If she costs £15 per week to run i'd be surprised

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