How would you budget my monthly wage?

Greg89

I earn £1710 after tax now

Rent £200pm
DD £300pm (including paying off like debts)
Food £100pm
Travel expenses £120pm
Entertainment £80(going out, pub)
Council tax £80

£ 880 spent

£830 left 

The Florida holiday in July (£2k)

-holiday fund £150pm

-emergency savings £200pm

-save £300pm

People generally save for 6 months worth of income so in my case £6600 

Disposable income left: £180 which can be allocated to utility bills 

I pay every three months, gas, electic, water, TV licence etc share half with my dad 

I wish to save up for Florida £2k trip for a 7 days trip 

Allocate some for emergency savings

Allocate some for savings

From the £830 left 

How much would you allocate to:

Florida holiday:
Emergency savings(car, gutter, wear/tear):
General savings to build up:

MorningcoffeeIV

First factor in all your outgoings, including the 3 monthly costs.

Then look at your debts and increase what you're paying to those, starting with the highest rate debt.

Aim to build 6 months of savings ASAP.

Once debts are clear and you have your emergency savings, you could split your disposable income between adding to savings and the holiday fund.

dave2319

Totally agree that you should start by working out the monthly cost of your gas, electric, water and TV licence, even though you only pay for them every three months. Then you'll have a much more accurate figure of what you've got remaining each month.

There are also some things we don't know, such as whether you've already got some savings and emergency savings. And when are you going on the holiday? Is it something you're definitely organising for next summer or just wanting to do at some point in the next few years?

Greg89

I would spread it out:

The Florida holiday in July (£2k)

-holiday fund £150pm
-emergency savings £200pm
-save £300pm

People generally save for 6 months worth of income so in my case £6600 

Disposable income left: £180 which can be allocated to utility bills