Budgeting

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Slow joe said:
I live by myself, separated from wife and got an 8yr old son who I have 4 nights a week. It's very hard to get by but my goal for 2020 is to get my money in order and budget my life and finances. I'll be debt free soon with a few thousand in the bank (inheritance) so will be in a great position to sort my life out. I haven't been debt free since I met my wife funnily enough, I can't wait to start enjoying my life and not having the worry of paying the bills and looking after my son hanging over me.
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Murdering your parents was a bit of a severe step though.
 


Slow joe said:
I live by myself, separated from wife and got an 8yr old son who I have 4 nights a week. It's very hard to get by but my goal for 2020 is to get my money in order and budget my life and finances. I'll be debt free soon with a few thousand in the bank (inheritance) so will be in a great position to sort my life out. I haven't been debt free since I met my wife funnily enough, I can't wait to start enjoying my life and not having the worry of paying the bills and looking after my son hanging over me.
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Good luck joe and hope things are looking up .
Having bills to pay and looking after your son arnt things that hangover you mate,they are just day to day things that should really be took in your stride .
 
North Yorks Mackem said:
The level of pay increases are a joke now. Annoyingly people just seem to accept them and no realistic prospect of inflation level increases under another tory govt. I just hope they dont have yet another attempt to reduce the redundancy terms/payments.
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Depends on what sector though.
Teachers have just 2.75% which is above inflation (and yes i know their pay & pensions have been eroded in real terms over past decade)
 
phillips10 said:
Me and the mrs have just bought our first house, we've just sat and worked out how much money we have spare per month after bills, food, car etc... We are looking at having around £600 a month between us to use as disposable income, possibly a little bit more as we have rounded the bills up slightly higher than what we think they could be.

I'm panicking slightly as I don't think £300 a month each is a lot to have left over, especially when you have to factor in having to buy bloody Xmas presents etc... at this time of year.

How much disposable income to you tend to have left over per month?
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thats loads man, after paying bills etc
 
Gillythedilf said:
Good luck joe and hope things are looking up .
Having bills to pay and looking after your son arnt things that hangover you mate,they are just day to day things that should really be took in your stride .
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Yeah I agree. Its just random things like taking him swimming, having a day trip on the bus somewhere. I've never been able to afford to do stuff like that off the cuff but now I will be able to. Will be a nice feeling.
 
42 said:
Depends on what sector though.
Teachers have just 2.75% which is above inflation (and yes i know their pay & pensions have been eroded in real terms over past decade)
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That is true and all the more annoying tbh. Think the high profile areas namely health, teaching, and maybe other emergency services were given better rises. Speaks volumes as to what the tories think about the rest of the civil service tbf.
 
70% Living expenses
10% Savings
10% Investment
10% Kids Extras & Holidays Etc

We have lived to this for a good while now and it works well. Just have to live within your means and spend appropriately as opposed to what you want or believe you deserve.
 
42 said:
Tbf a night out on the drink can just be going over to the local for a few jars at a cost of £10. Although I suspect Herbal is meaning staying out til 5am spending a fortune getting rat arsed.
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3 pints isn't a night out like. It's an hour out
 
Coeus said:
70% Living expenses
10% Savings
10% Investment
10% Kids Extras & Holidays Etc

We have lived to this for a good while now and it works well. Just have to live within your means and spend appropriately as opposed to what you want or believe you deserve.
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10% £60 a month isn’t going to get you much in terms of kids extras and holidays.

Maybes you can give a break down on how that one works.

Even the odd few days here and there would soak that up no problem, unless they like a good walk not too far away from home and a picnic.
 
42 said:
Tbf a night out on the drink can just be going over to the local for a few jars at a cost of £10. Although I suspect Herbal is meaning staying out til 5am spending a fortune getting rat arsed.
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Once in a blue moon that these days.
42 said:
Was thinking more 4 (or possibly 5 if you drink john smiths). Its still a couple of hours out to unwind for a bit
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The majority of the time, like tonight, I’ll have a bottle of wine in the house, then go out and have about 6 pints of strong ale. Nicely drunk for £30.
Coeus said:
70% Living expenses
10% Savings
10% Investment
10% Kids Extras & Holidays Etc

We have lived to this for a good while now and it works well. Just have to live within your means and spend appropriately as opposed to what you want or believe you deserve.
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Where’s your beer money - part of living expenses?
 
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joemcdokes said:
10% £60 a month isn’t going to get you much in terms of kids extras and holidays.

Maybes you can give a break down on how that one works.

Even the odd few days here and there would soak that up no problem, unless they like a good walk not too far away from home and a picnic.
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Is that 10% of disposable or 10% of net earnings? I suspect the latter & that the 70% includes rent/mortgage, utilities etc.
 
Slow joe said:
I live by myself, separated from wife and got an 8yr old son who I have 4 nights a week. It's very hard to get by but my goal for 2020 is to get my money in order and budget my life and finances. I'll be debt free soon with a few thousand in the bank (inheritance) so will be in a great position to sort my life out. I haven't been debt free since I met my wife funnily enough, I can't wait to start enjoying my life and not having the worry of paying the bills and looking after my son hanging over me.
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With that sensible head on it will work out for you.
When you have a wobble just think of that lovely lad and how lucky you are to have a Son. Some people don’t have that luck.
Some one else is only a minute away from meeting you however learn to love yourself first is my advice.
Have you taken the boy to a match yet?
 
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