How much left at end of month?
Discussion
Take home at the moment is around £1,600 a month.
£450 a month in savings
£200 rent (parents still)
£250 car payments
£215 loan (year to go!)
£485 left for the month.
Goes on fuel, meals out, stuff for lunch at work etc.
Come December take home pay will drop to £1,400 due to different shift pattern and cant work two jobs.
£450 a month in savings
£200 rent (parents still)
£250 car payments
£215 loan (year to go!)
£485 left for the month.
Goes on fuel, meals out, stuff for lunch at work etc.
Come December take home pay will drop to £1,400 due to different shift pattern and cant work two jobs.
Benbay001 said:
I used to spend £2 a day when i started me apprenticeship.
Today ive been off work, so i had:
I also read moneysavingexpert forums, at £35 a week is considered extravagant...
What do you eat on an average day for £5 to be considered cheap?
I’m torn between trying to eat good quality food and then seeing how much it costs at the end of the month. Today ive been off work, so i had:
- A bowl of cereal for breakfast (30p?)
- Cheese on toast for dinnner, with a pear and a peach (£2?)
- Battered cod with peas and sweetcorn (£2?)
I also read moneysavingexpert forums, at £35 a week is considered extravagant...
What do you eat on an average day for £5 to be considered cheap?
That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
btdk5 said:
I’m torn between trying to eat good quality food and then seeing how much it costs at the end of the month.
That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
Spending £20 per day on food is insane IMO. That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
95JO said:
Spending £20 per day on food is insane IMO.
I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
It depends how well paid you are and how much time you have. I buy lunch at work because I work long hours and don't want to spend the limited time I have at home each evening making lunches. Plus I get a £1.60 subsidy at lunch in the work canteen and typically get dinner at my desk for free ...I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
When I was less well paid and had more time, I brought lunches in.
As a household we currently have around £2500 left every month after pensions, bills & essentials.
BUT maternity leave looms, followed by childcare, as does the inevitable need for a bigger house. The problem is we already live fairly frugally by nature, so there really isn't much fat to cut.
In 2 years time I can see it being £0.
BUT maternity leave looms, followed by childcare, as does the inevitable need for a bigger house. The problem is we already live fairly frugally by nature, so there really isn't much fat to cut.
In 2 years time I can see it being £0.
Integroo said:
It depends how well paid you are and how much time you have. I buy lunch at work because I work long hours and don't want to spend the limited time I have at home each evening making lunches. Plus I get a £1.60 subsidy at lunch in the work canteen and typically get dinner at my desk for free ...
When I was less well paid and had more time, I brought lunches in.
Agreed, I kind of understood why the contractors at my old place were doing it, being on £750+ p/d and all... But then moan about wanting to retire earlier... Quick maths suggests that's ~£400pm that could be going into their SIPP's... But whatever.When I was less well paid and had more time, I brought lunches in.
Each to their own, again - The best argument for it that I've seen is that if you're working long hours and enjoy food, then it makes sense as it's something they look forward to during the working day - But most just eat because needs must, me being one of those (within reason of course).
95JO said:
Agreed, I kind of understood why the contractors at my old place were doing it, being on £750+ p/d and all... But then moan about wanting to retire earlier... Quick maths suggests that's ~£400pm that could be going into their SIPP's... But whatever.
Each to their own, again - The best argument for it that I've seen is that if you're working long hours and enjoy food, then it makes sense as it's something they look forward to during the working day - But most just eat because needs must, me being one of those (within reason of course).
I can't say the cheese baguette and diet coke I have for lunch is particularly something I look forward to, but if I get home from the office at 10pm or 11pm at night the last thing I want to do is make my own to save £3! Each to their own, again - The best argument for it that I've seen is that if you're working long hours and enjoy food, then it makes sense as it's something they look forward to during the working day - But most just eat because needs must, me being one of those (within reason of course).
I usually run out of money in the first week or two of the month, forget end of the month. Rest of spending is done from savings.
My wife is mentally unstable and reining in her £300-£500 unnecessary spending a month would be more expensive than just letting her do it. Hugely frustrating but what can I do.
My wife is mentally unstable and reining in her £300-£500 unnecessary spending a month would be more expensive than just letting her do it. Hugely frustrating but what can I do.
I've been at both ends of the earning spectrum, and have always maintained a spreadsheet of income and expenditure. Many times it's helped me realise when a Direct Debit or other bill has yet to be taken and i had to manage the finances accordingly. Personally I think this is the best way to keep track, especially if outgoings are on various dates across the month.
These days I still maintain it, it's less of an issue and I just do it to keep track of DDs and work out how much I can put into the offset savings. Earnings vary due to commissions, but on an average month I just adjust the savings amount so I'll have £1-£2k left and I'll just spunk as much as I need to and usually still end up with a few hundred left.
Throughout my 20s and most of my 30s I was living with negative bank balances at the end of the month, so I know how tough it can be and that's why the spreadsheet or other tool is so critical. I was lucky if I had £200 disposable after all bills.
These days I still maintain it, it's less of an issue and I just do it to keep track of DDs and work out how much I can put into the offset savings. Earnings vary due to commissions, but on an average month I just adjust the savings amount so I'll have £1-£2k left and I'll just spunk as much as I need to and usually still end up with a few hundred left.
Throughout my 20s and most of my 30s I was living with negative bank balances at the end of the month, so I know how tough it can be and that's why the spreadsheet or other tool is so critical. I was lucky if I had £200 disposable after all bills.
Integroo said:
I can't say the cheese baguette and diet coke I have for lunch is particularly something I look forward to, but if I get home from the office at 10pm or 11pm at night the last thing I want to do is make my own to save £3!
You're definitely an edge case in this case - Hats off to you for pulling such long days, I would do the same if I were you. I hate doing anything over 8 hours (including dinner 
)We generally have nothing left at the end of the month. Household income is probably £7k net per month. I chuck all of mine into the joint account and leave myself £300 to spend on what I like then the rest goes into running the house and kids, savings of probably £2k and overpay the mortgage by £2k.
btdk5 said:
I’m torn between trying to eat good quality food and then seeing how much it costs at the end of the month.
That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
Pret is fairly decent value compared to other Canary Wharf offerings.That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
A sandwich or salad costs about a fiver
wrencho said:
We generally have nothing left at the end of the month. Household income is probably £7k net per month. I chuck all of mine into the joint account and leave myself £300 to spend on what I like then the rest goes into running the house and kids, savings of probably £2k and overpay the mortgage by £2k.
So you have 4k left that goes into savings ...Integroo said:
wrencho said:
We generally have nothing left at the end of the month. Household income is probably £7k net per month. I chuck all of mine into the joint account and leave myself £300 to spend on what I like then the rest goes into running the house and kids, savings of probably £2k and overpay the mortgage by £2k.
So you have 4k left that goes into savings ...Integroo said:
95JO said:
Spending £20 per day on food is insane IMO.
I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
It depends how well paid you are and how much time you have. I buy lunch at work because I work long hours and don't want to spend the limited time I have at home each evening making lunches. Plus I get a £1.60 subsidy at lunch in the work canteen and typically get dinner at my desk for free ...I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
When I was less well paid and had more time, I brought lunches in.
Just some ideas... Today, I ate porridge mixed with home-made granola (20 minutes last weekend). I am just about to have a tasty veg curry for lunch that is a leftover from yesterday's slow cooker session. The slow cooker is currently also cooking this evening's veg chilli, which it took me 5 minutes to prepare while the porridge cooked this morning.
None of this takes much time and costs a fraction of what convenience foods and shop-bought lunches do. I'm not saying that I never eat out, but it's so so easy to build-in some time to make good food for very little effort.
95JO said:
btdk5 said:
I’m torn between trying to eat good quality food and then seeing how much it costs at the end of the month.
That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
Spending £20 per day on food is insane IMO. That coupled with working in Canary Wharf, so your most basic salad or sandwich is about £7, so when you look at it you’re spending £20 a day in total on food/drinks (I’m not fat either) and that’s before eating out or takeaways.
I need to start making my own lunch.
I had a similar moan about this on a similar thread a few months ago regarding contractors I worked with spending similar amounts...
I take my own dinner when I'm in the office, WFH 1/2 days per week and eat out once per week.
Each to their own though!
I take home between £1600-£1800 a month , wife takes home about £1300. I usually end up with about £300 and the wife about the same. We both put away about £250/£300 a month. Seems alright, certainly I don't need more. I'd still just want to sit in front of the TV or be on the Xbox most evenings.
Can afford nice holidays, two cars and the mortgage. No kids and never want them. Food shop is around £30 a week.
Can afford nice holidays, two cars and the mortgage. No kids and never want them. Food shop is around £30 a week.
Since reading this thread I’ve given my finances a bit of thought.
I’ve started to implement the Money Saving Expert ‘piggybanking’ Technique, and it’s really highlighted to me how much my bank account balance was giving me a completely false picture of my finances.
I now feel a lot more in control and confident in how much cash is genuinely spare each month.
My online banking app does look a bit silly with loads of accounts, but it’s now broken down in to:
Joint bills account
My own bills account
My spending account (what’s actually left over)
Car maintenance (tyres, servicing and extra for any bills)
Holiday
House maintenance/improvements
Christmas
Savings/Emergency
Fuel/Food shopping
Each time I get paid, money goes straight In to joint account for the mortgage and bills, and split the rest between all the different accounts leaving me a more accurate and realistic amount left to freely send or save extra. I’ve been lying to myself for a long time and kept rolling my eyes as the next thing cropped up, saying ‘there’s always something every month’, now it’s all mostly planned for and sorted.
Maybe a bit over the top but I find it easier than spreadsheets and it really works for me.
I’ve started to implement the Money Saving Expert ‘piggybanking’ Technique, and it’s really highlighted to me how much my bank account balance was giving me a completely false picture of my finances.
I now feel a lot more in control and confident in how much cash is genuinely spare each month.
My online banking app does look a bit silly with loads of accounts, but it’s now broken down in to:
Joint bills account
My own bills account
My spending account (what’s actually left over)
Car maintenance (tyres, servicing and extra for any bills)
Holiday
House maintenance/improvements
Christmas
Savings/Emergency
Fuel/Food shopping
Each time I get paid, money goes straight In to joint account for the mortgage and bills, and split the rest between all the different accounts leaving me a more accurate and realistic amount left to freely send or save extra. I’ve been lying to myself for a long time and kept rolling my eyes as the next thing cropped up, saying ‘there’s always something every month’, now it’s all mostly planned for and sorted.
Maybe a bit over the top but I find it easier than spreadsheets and it really works for me.
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