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Disposable Income at the end of the month
solarstone
Posts: 176 Forumite
Having made some informed changes with Martin's Money Diet book, a year on I think I have gone as far as I can go.
I reckon I have 20% disposable income left each month after ALL essentials are covered. (That includes literally all, down to car tax and tv licence).
Is that about average for a family with 1 child with 1 main earner? or should I be looking at further "tweakings"....? Would be interested to hear from anyone in a similar position...
ta
I reckon I have 20% disposable income left each month after ALL essentials are covered. (That includes literally all, down to car tax and tv licence).
Is that about average for a family with 1 child with 1 main earner? or should I be looking at further "tweakings"....? Would be interested to hear from anyone in a similar position...
ta
Like a priceless jewel buried in dark layers of soil and stone, earth radiates her brilliant beauty into the caverns of space and time.
Stately trees seem to brush the deep blue sky. Clouds billow to form magestic peaks. The songs of birds fill the air creating symphony upon symphony
Stately trees seem to brush the deep blue sky. Clouds billow to form magestic peaks. The songs of birds fill the air creating symphony upon symphony
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Comments
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The exact % disposable income is only half the calculation. How much do you save and can you do it long term. Does this include 'replacement' money. If you have 20% and you put 5% into permanent (IE you don't plan to spend it) savings and 5% in replacement savings (electricals / car / kitchen etc) then you have 10% spending money. Thats not bad if you have commitments like a family.
Regards
XXbigman's guide to a happy life.
Eat properly
Sleep properly
Save some money0 -
we have approx 10% per month disposable.....
that excludes all bills, several savings accounts for annual items.... ie cars
very little savings for a rainy day...... although do have some for the sproglets (3 of them - all girls......)
smile --- it makes people wonder what you are up to....
:cool:0 -
I have 3% left over of my net income but can't afford to save permanent OR replacement money. I'd love to have 20% left over.
I've included all bills inc food, petrol - is that how you do it?:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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Is that 3% before or after debt repayments?
If its before you pay out on debts then 'ouch', time to look for another job.
Regards
XXbigman's guide to a happy life.
Eat properly
Sleep properly
Save some money0 -
No, it's once everything has gone out. I earn £20,000 but live on my own so have to carry all bills myself.
But it still is ouch - no fun money :cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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Aside from the main ones like Council Tax, Mortgage, Car loan, mine was based on putting aside money each month for all the utilities, car insurance, car tax, tv licence, car servicing into another account.
Also putting shopping and petrol money into a savings account at the start of the month, buying petrol and shopping on a specific cashback credit card, and then paying that off at the end of the month with the money in the savings.
It seems to work and irons out those nasty surprises that tap into your current account. I pretty much know that I have about 20% left to spend on "anything else" each month, though it is surprising how far this DOESN'T go.Like a priceless jewel buried in dark layers of soil and stone, earth radiates her brilliant beauty into the caverns of space and time.
Stately trees seem to brush the deep blue sky. Clouds billow to form magestic peaks. The songs of birds fill the air creating symphony upon symphony0 -
solarstone wrote:though it is surprising how far this DOESN'T go.
c'est la via.........
I always have too much month left at the end of my wages..... :rotfl:smile --- it makes people wonder what you are up to.... :cool:0
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