General Chat, Products & Comps <
07/03/2014 at 15:57
Not sure if anyone will want to answer this but just trying to work out what me and H could afford to drop in hours with childcare costs.
Do you put away savings every month and what do you leave yourself (or are you left with!) after covering all household bills and food shopping etc?
I have no hobbies or real regular costs that are just for me other than the hairdressers but I still seem to spend money every month! I think I need to be more realistic on what I can get by on each month now we have O.
07/03/2014 at 17:07
im a SAHM and we get by on my husband wage, he can just about support us without us struggling
our bills are around £850 which he covers i pay for the food shop out of the child benefit and small amount of tax credits we get.
we chose not the drive as we live so close to most things so we haven't got the cost of that.
like you i don't do much in the way of hobbies or extra costs hubby goes to the pub once a week.
we put aside roughly £150 a month and that goes towards holidays and christmas so no proper saving as such.
not sure if my waffling has helped at all!
07/03/2014 at 17:51
Thanks for replying sleepy. Do you and your H have 'spending' money each month?
Before my mat leave we pay the bills, leave money aside for food shopping/diesel etc and then H and I both have money for ourselves for the month so completely to spend on what we need and then we saved all our remaining wages. I know our savings will drop when I'm back at work as we will have childcare but we normally have £100-£150 each for 'spending' money. My hairdressers is £45 bit I only go every 8 weeks so really only £22.50 a month. The rest I seem to just waste on takeaways, junk food, random purchases of things I don't really need!
I'd like to drop some hours when I go back to work and trying to work out how much I could drop but still be able to save a bit and leave some money for us. It's a fine line of us still having money to do things and some cash away each month for unexpected costs and not feeling broke every month!
07/03/2014 at 17:58
07/03/2014 at 18:03
07/03/2014 at 18:47
after i have paid for school dinners for the eldest, i dont have much left but thats because i put it aside for when i do want to treat myself, we cut down on takeaways and often use group of tesco clubcard vouchers for eating out.
H probably has between £200-£300 to spend as he pleases a month but will give me money if i need it, as although we dont have a joint account its only because we both like our own bank and neither will switch!
07/03/2014 at 19:10
When I was going back to work we sat down and looked at whether I could afford to work part time. We calculated the costs of all our bills, mortgage, etc. Then added the costs of childcare and train travel costs. We worked out what I would earn working part time and what the difference would be. Basically we could pay all the bills on H's salary but we wouldn't have had much left at the end of the month. My salary is used to pay for the 'extras' such as a holiday, and the things that need paying for over time such as a new boiler, repairing the fences, etc.
We do both save miney each month but its not a fixed amount.
09/03/2014 at 19:42
I budget very carefully and at the moment don't have much left over at the end of the month but once I move I will have a good amoutn left aside at the end of the month and will be saving to build an emergency fund and then eventually when I feel we ahev a comfortbale amount to fall back on we will start looking at holidays and things. I save a lot of money by shopping carefully (buying meat in bulk for example) and then meal planning and batch cooking. Some meals I managed to get down to 40p per meal
11/03/2014 at 19:13
Wow 40p a meal, that's really good QI. What do you cook for that little? Is that worked out per portion or would that be enough for the three of you?
Its a good point about being able to build up an emergency fund so that you have some money there should things go wrong. Some of our fencing is currently held up by 2 screws. I am hoping we don't have any more storms before we get it fixed properly. (Of course loads of people need fencing fixed so the chances of us getting it done soon are small). Its nice to know we have the money to put by to pay for it already because we are able to save up.
11/03/2014 at 20:04
We have no chance to save at the moment, running at a loss each month at the moment, with nursery fees of £8k a year it's hard, will get easier from Jan next year when we get some funding, but I hate not having spare cash, the last time I treated myself to clothes was a £10 top just before Xmas, haven't had my haircut since May last year, and we haven't eaten out since before the kids. Holiday this year is us staying with my dad at his house in Somerset for a week. Having said that, we have a nice house which we can just about afford, and healthy kids. Just a few extra pounds would be nice to treat ourselves.
11/03/2014 at 21:13
We have a small amount of savings. TBH, we mostly spend out each month, and I know if we need a lump sum for something, bank of Mum and Dad are there, which at 28 is terrible, but we always pay it back.
We used to have to scrimp, but H got a payrise, so for now, we are splashing out on stuff, as we all went without for so long. H earns a decent amount, so people think we are rolling in it. What they don't realise, is his wage also means we pay a fair chunk to CSA for H's kids, and his old debts from Uni, and his first marriage.
Our hobbies mount up, as I have numerous hobbies, and H is always after new fishing gear, and then the cost of his license, and day tickets.
We don't have childcare costs, as I am a SAHM, so I guess we save a fortune there.
In our time together, we have never been away, but we have just booked a mini break. It's only a Haven holiday, but it's the first time we have been able to take my boys away.
I guess currently, we have about £300 "free" money each month in H's account, after all bills, food, csa, and debts have been paid. We have separate accounts, so H transfers money into my account each pay day, which is mine to spend as I please, then he gives me X amount each week as house keeping. The main food shop and bills come out of his account though.
We rent, so any problems in the house are covered by the landlord, which helps loads, as a wall of our garage collapsed in the storms. That would have cost us loads to have fixed.
11/03/2014 at 23:21
Continues below ad
Nice to see you! Please do nose around, sign up and join in.