Been going through the household budget today (2 adults, 1 child).
As I will most likely have to take a pay cut if I get a new job , just been doing some sums.
Our mininum "get by" expenses every month come in at 1916.75. A year last feb it was 2147, so done well do trim it down.
The expenses include things like Sky, Mobiles, Petrol for 2 cars, Maintenance for 2 cars, relatively small mortgage, gas, electric, water, after school childcare, tv license, house insurance, breakdown cover, food /clothing, money for birthdays/christmas.
Its probably not a lot for you southerners! But for me it seems quite a bit "just to get by". I dont think there is anything we can remove except maybe sky + mobiles?
try looking at the smaller picture, where you shop, what you have for lunch, how many channels you have on sky. See if you can trim a few pounds off here and there. Stuff like making lunch at home might save you £60-70/month. Sharing cars, or getting a more economical one, not driving in rush hour. etc etc
I was actually looking into this the other day, now I'm finishing uni, moving awaya and starting work (in the real world! lol), and what you've quoted doesnt sound too much for 2 people and a child.
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Money saving expert.. get on there and have a read. It should give you options for reducing all of those and then making the most of of your bank and savings and all that.
If I were to get a 1 bed apartment, to just get by (which includes everything I need to life, bar 'going out') I need £1304.58pm. Hopefully less if I share rent.
Richy
how come? you got a breakdown of that. I might be looking to move out in September and was hoping it would be much less than that.
Thanks everyone.
Part of the savings I have made have been switching utilities etc.
It would be tough getting rid of a car we dont spend that much on petrol anyway.
We only put away about 30 per month for birthdays/christmas.
My mobile contract doesnt cost me anything above the rental, i get stacks of free texts and minutes , probably too many, but I still have some time on my contract.
I already make my own lunches (helps calorie count) but I do spend 2.50 a day on coffee but thats out of my money, not the household budget.
We have a resonable disposable income, and significantly more going elsewhere for the next couple of years.
Its not a big deal cutting it down, its just going to mean its going to come from our disposable income instead (if I take a cut).
