How much to live on

Floss

WYSPECIAL said:

[Deleted User] said:

Floss said:

otb666 said:

Been retired 2 years now and have managed on our 1800 pa 700 bills 550 on food and 550 on everything else and thats with a 26 year old living with us.  We also have a 3k annual slush fund for annual car ins mot service and short breaks.  I managed to save 200 on car insurance and 80 on AA. We also spend quite a lot on grandchild.  I have a mobile that costs £2 per month but was never a convert really and just for emergencies.  

Can I just check that I read this right - £550 pa for food for 3 adults? 

This may include household goods too, but even if it doesn't so what?
My elderly relative and myself have quite large food bills, we eat well and often have relatives calling in for meals. It's great!

I think they are referring to the per annum bit which would be just over £10 per week. The figures must relate to per month. If not they can live very cheaply! I had to read it twice as it seemed unbelievable.

I was indeed referring to the £550 per annum. 

[Deleted User]

Organgrinder said:

[Deleted User] said:

Sorry just can't see the point of frugal when having enough in the bank not to be.

Because it frees money up for things you might not otherwise be able to afford.

That is not what I am saying. There are some who have enough money for what they want, but appear unable to spend it because of some obsession with being frugal. 

Further to your comments about my spending I think £400 for a couple of pairs of decent frames and complicated lenses is very reasonable. Boots usually have buy one pair get a second pair half price offer.

I budget about a £1000 a year for clothes and shoes. Very reasonable considering how expensive some items can be. For example,  a  decent pair of shoes can be at least £80 if not more. 

With a close and loving family £1000 a year plus for Christmas and birthdays is also very reasonable.

 @Floss 'Not everyone has the pension that you have accumulated.'  I spent 42 years working in some tough schools trying to make a difference  accumulating that pension along with 47 years of NI contributions for my state pension. Never that highly paid either!

Organgrinder

[Deleted User] said:

Organgrinder said:

[Deleted User] said:

Sorry just can't see the point of frugal when having enough in the bank not to be.

Because it frees money up for things you might not otherwise be able to afford.

That is not what I am saying. There are some who have enough money for what they want, but appear unable to spend it because of some obsession with being frugal. 

Further to your comments about my spending I think £400 for a couple of pairs of decent frames and complicated lenses is very reasonable. Boots usually have buy one pair get a second pair half price offer.

I budget about a £1000 a year for clothes and shoes. Very reasonable considering how expensive some items can be. For example,  a  decent pair of shoes can be at least £80 if not more. 

With a close and loving family £1000 a year plus for Christmas and birthdays is also very reasonable.

 @Floss 'Not everyone has the pension that you have accumulated.'  I spent 42 years working in  in some tough schools trying to make a difference  accumulating that pension along with 47 years of NI contributions for my state pension. Never that highly paid either!

I'm afraid you are completely missing the point. I am not criticising your spending choices.

Your spending choices are yours.

Mine are mine.

What you class as reasonable, I would class as excessive. 

My point was that your spend on clothes and glasses when compared to mine, means I have £1,000 to spend on a holiday should I choose to do so.

[Deleted User]

I am not missing the point. I am talking about those who have enough money but do not spend on it on anything.
I know full well that my spending choices are mine and yours are yours.

Organgrinder

I'll leave it there. 

[Deleted User]

So will I.

uralmaid

Like everyone else says - it is down to lifestyle. We have after tax approximately £36k per year to live on.  We also have been very fortunate to have 4 decent amounts of inheritance left to us over the past 15 years which obviously helps a lot.  Also the fact that we moved from a more expensive part of the country in Yorkshire to here in Lincolnshire so were able to use equity from our property to buy a larger property with more land. Hubby had to retire through ill health at 52 and had a large lump sum. He had the choice of a larger lump sum or a much smaller one with a larger monthly pension. He accepted the former, and we have always been more than happy with the choice. A good amount of our yearly outgoings are spent on taxing, insuring and maintaining the numerous vehicles but that is our choice. Also when we buy items for the home we tend to buy the best we can afford (based on reviews etc - hubby, and the look of it - me). We spend roughly £700 a month on food (not including if we eat out) but we don't have a lavish lifestyle.  We have been lucky and so are able to mostly buy things we like and want when we need them.  Throughout my years at work I never had a substantial salary and had to live a more frugal life but now at 68 we are better off than ever - long may it continue. 

bluenose1

Think on this board we are all more similar in our opinions than  we think and it can sometimes be difficult to convey the nuances via  the internet.

We have a joint net income of £43k and after paying for all essential bills and food etc both have a £900 per month allowance to fund holidays, gym membership and my husband also has golf fees and season ticket costs.  I know that’s a lot but doesn’t seem it yet, maybe when I have been retired longer it will, plus we have an adult son living at home so that increases costs.  Saying that I am spending less than my allowance so my savings continue to grow and I will hopefully be more confident re money after I have been retired a year or so. 

[Deleted User]

I have decided to step down from this thread. Best wishes to all.

Albermarle

Organgrinder said:

[Deleted User] said:

Sorry just can't see the point of frugal when having enough in the bank not to be.

Because it frees money up for things you might not otherwise be able to afford.

 you spend a significantly higher amount on clothes and glasses than I do. My glasses are £120 for two pairs in Asda.
In Costco, you can get 3 pairs off the shelf for £15.
Foster Grants, and surprisingly good and hard wearing for the price.
So that could be another £100 you could spend on your holidays