How much money left over per month?

SweetPotatoPie

CRISPIANNE3 said:

We do not really check on how much. I know we never go short. and are able to save about £800 a month. We shop at lidl and Marks and Spencer. 

I definitely could not afford to save about 800 a month. 😂. 

drinae

Below is my split - also a single parent and we live in greater London. I'm no longer paying childcare, so the bills portion is much lower than it used to be. 

• bills 35% (housing & transport) 
• education/sports 6% (I'd include this under bills though, as they are regular expenses)
• pension 16% (mine and my employers') 
• savings 17% (savings & mortgage over-payment)
• holidays 11%
• spending 16% (this includes everything else not captured above - so food, clothes, fun, furniture, electronics, and so on). 

 As I'm now over 40, my aim is get to 20% pension and 20% savings but probably won't get there until my child is out of school. 

onlyfoolsandparking

drinae said:

Below is my split - also a single parent and we live in greater London. I'm no longer paying childcare, so the bills portion is much lower than it used to be. 

• bills 35% (housing & transport) 
• education/sports 6% (I'd include this under bills though, as they are regular expenses)
• pension 16% (mine and my employers') 
• savings 17% (savings & mortgage over-payment)
• holidays 11%
• spending 16% (this includes everything else not captured above - so food, clothes, fun, furniture, electronics, and so on). 

 As I'm now over 40, my aim is get to 20% pension and 20% savings but probably won't get there until my child is out of school. 

Are you sure? that's 101%

drinae

Oops, had a typo, spending is at 15%. Thanks

dan958

I probably do my budgeting a bit different, but I just think of everything I buy/spend on, and include in my monthly budget, as a 'bill' I have to pay each month. i.e. putting an amount aside each month for my car insurance at the end of the year, and birthday and christmas presents for people.

This accounts for 58% of my wage. The rest I am saving, and also paying back my parents for some money they let me borrow.

Sharon87

I'd say 50% is about average. I'm around about that mark too depending on if I get paid for the months I get paid 4 weeks. The months where I'm paid 5 weeks I have a bit more spare cash -
Those bills includes rent, gas, electric, sky tv, broadband, tv licence, contents insurance, mobile.etc but not food or transport.

I used to spend maybe 65% on rent and bills, but I've had pay rises since then, so I can afford to pay my debt down and build up some emergency savings.