Acceptable amount after bills?
Discussion
I'm looking at various cars at the weekend and am starting to wonder whether it's a good idea. The thing is, after bills, rent, insurance, finance etc, it leaves me with roughly £90 per week for food, petrol and anything else I want to do.
Is this an acceptable amount? Also, bit nosey, but wondered what sort of leftover money do other find enough or not enough?
Is this an acceptable amount? Also, bit nosey, but wondered what sort of leftover money do other find enough or not enough?
APanda said:
I'm looking at various cars at the weekend and am starting to wonder whether it's a good idea. The thing is, after bills, rent, insurance, finance etc, it leaves me with roughly £90 per week for food, petrol and anything else I want to do.
Is this an acceptable amount? Also, bit nosey, but wondered what sort of leftover money do other find enough or not enough?
£90 for food, petrol and anything else you want to do?????? Most cars cost nearly £90 to fill up nowadays.......Is this an acceptable amount? Also, bit nosey, but wondered what sort of leftover money do other find enough or not enough?
I assume your going to be taking finance out? How much is that going to cost per month?
egor110 said:
If you've only got £90 left over , how are you going to tax and insure it?
I think i'd rather have the extra money and use the train/bus or get a motorbike.
Tax, insurance etc is all included in bills. The finance is £100 per month. In other words, without the new car finance, I have £115 a week rather than £90. And that is solely for food, petrol and leisure. I think i'd rather have the extra money and use the train/bus or get a motorbike.
APanda said:
egor110 said:
If you've only got £90 left over , how are you going to tax and insure it?
I think i'd rather have the extra money and use the train/bus or get a motorbike.
Tax, insurance etc is all included in bills. The finance is £100 per month. In other words, without the new car finance, I have £115 a week rather than £90. And that is solely for food, petrol and leisure. I think i'd rather have the extra money and use the train/bus or get a motorbike.
I'd say your still cutting it fine, how much do you spend on food, then how much would you spend on magazines, dvd's going out on a sat night.
I see your a mortgage broker! you need to treat it as if your sorting out somebody's mortgage and what there expenses are and how much they can borrow.
Remember if you get a car on say 200-300 a month finance after a month your new car becomes just the car that gets you from a to b, also no matter what you get somebody will always have something better, so don't compete pocket the cash.
I see your a mortgage broker! you need to treat it as if your sorting out somebody's mortgage and what there expenses are and how much they can borrow.
Remember if you get a car on say 200-300 a month finance after a month your new car becomes just the car that gets you from a to b, also no matter what you get somebody will always have something better, so don't compete pocket the cash.
[quote=APanda]
Where does it say this?
Anyway, I guess it is cutting it fine. My thoughts were I could buy less food if I needed to.
I must of looked at somebody else's profile, sorry about that.
Re the buying less food, food is going up in price all the time, so that extra £90 will be useful in the future.
Also i have no idea how old you are but i'm guessing young , keep the money for going out, going on holiday with your mates etc maybe save a bit incase you loose your job in the future.
If you do decide to get one get something cheap £500 cash and no finance, i got a saab for £700 got me to bike racing, touring cars all over the country, never broke down, went thru it's mot fine and i wasn't lumbered with any finance.
Where does it say this?
Anyway, I guess it is cutting it fine. My thoughts were I could buy less food if I needed to.
I must of looked at somebody else's profile, sorry about that.
Re the buying less food, food is going up in price all the time, so that extra £90 will be useful in the future.
Also i have no idea how old you are but i'm guessing young , keep the money for going out, going on holiday with your mates etc maybe save a bit incase you loose your job in the future.
If you do decide to get one get something cheap £500 cash and no finance, i got a saab for £700 got me to bike racing, touring cars all over the country, never broke down, went thru it's mot fine and i wasn't lumbered with any finance.
AyBee said:
A lot more than £90/week - does that help? Not sure I'd want to factor in a social life, clothes, food and petrol into £90/week, do you desperately need this car for work etc or is it just a toy? Are maintenance bills/tyres included in your calculations?
I agree. £90 a week, or £360 per 4 week month, not a lot of spare cash TBH. What would you do if an emergency arose such as burst pipe, new window, repair to the car etc. Finance is a good tool if you can afford it. When it's not recommended is when you don't really have the cash spare in the first place.Edited by Zippee on Monday 26th March 16:46
Well after bills food etc i dont have a lot either, i would never at the moment consider credit. my last car died in a big way leaving me without transport and i hate buses etc plus it was costing me 20 quid to go to work a week over the ten or 12 it was costing in fuel and free parking... i took my time and found a little gem on auto trader. a local guy selling his recently deceased fathers fiesta albeit a t reg .. thing is i need something to get to work and back and the odd day out .. mainley wanted a reliable a to b car.. this has been kept garaged, has full service history, 5 months tax 12 months m.o.t. and is in brilliant condition and only done 47 thousand genuine miles. i got it for 700 quid... bargain... now done a couple of hundred miles, doesnt miss a heartbeat and is amazingly fuel efficient as well as cheap to insure thanks to compare the meerkat and swinton . i'm happy knowing ive got no monthly payments. a reliable car and okay its not a lotus etc but its wheels that do a job and cheap too. plus being a fiesta parts are cheap and work easy if need be. take your time find something cheap reliable and morover something you can afford to run.. just makes sense .
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