Is this living beyond means?

tbo127

Is it considered living beyond your means to spend about 65% of your income on mortgage repayments, utility bills, transport, groceries, service charge and council tax? 

Keep_pedalling

Only if you are spending over 35% on other stuff.

billy2shots

Percentages are a little misleading. 

£s work so much better but don't grab people's attention. 

If your remaining 35% is £100 then don't do it. 

If your remaining 35% is £3,000 then why not. 

tbo127

billy2shots said:

Percentages are a little misleading. 

£s work so much better but don't grab people's attention. 

If your remaining 35% is £100 then don't do it. 

If your remaining 35% is £3,000 then why not. 

What if it’s somewhere in between like 1500? 

Sg28

tbo127 said:

billy2shots said:

Percentages are a little misleading. 

£s work so much better but don't grab people's attention. 

If your remaining 35% is £100 then don't do it. 

If your remaining 35% is £3,000 then why not. 

What if it’s somewhere in between like 1500? 

If you've got £1500 a month disposable income I'd say you're well within your means. 

Martico

There's a budgeting tool we use on the debt-free wannabe boards that could be useful for you if you're concerned. Fill in your statement of affairs on this webpage and you'll see how things will look for you. For all annual spends, divide by 12 for the monthly figure, of course. An estimated £1,500pm sounds like plenty though, I'm sure you'll be fine. But there are other costs in life  

ACG

Keep_pedalling said:

Only if you are spending over 35% on other stuff.

This pretty much sums it up. 

MWT

The numbers may have gone up a little since Dickens's time but this still remains true...

“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery."

ACG

MWT said:

The numbers may have gone up a little since Dickens's time but this still remains true...

“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery."

Annual expenditure? 
I think I spent about 4 times that in 2 hours last night. It has gone up a little I think. 

tbo127

Sg28 said:

tbo127 said:

billy2shots said:

Percentages are a little misleading. 

£s work so much better but don't grab people's attention. 

If your remaining 35% is £100 then don't do it. 

If your remaining 35% is £3,000 then why not. 

What if it’s somewhere in between like 1500? 

If you've got £1500 a month disposable income I'd say you're well within your means. 

Well it’s less as I didn’t include groceries and other basic household items like cleaning products, clothes etc. 

jimjames

tbo127 said:

Is it considered living beyond your means to spend about 65% of your income on mortgage repayments, utility bills, transport, groceries, service charge and council tax? 

I suppose it also depends if the mortgage payment is on fixed rate at 1% (for example) and is going to go to 5% in the near future thus removing the 35% spare capacity.