Poyningsgull
Well-known member
- Apr 12, 2007
- 1,730
If you have no mortgage, 2 grand a month is a good marker for a couple to live comfortably on. This based on experience after 3 years of retirement for myself and the wife.
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[Finance] How much can you live on ?
- Thread starter happypig
- Start date
AmexRuislip
Retired Spy 🕵️♂️
Live off my wages, mortgage paid off.
Have had to adapt, downsize, otherwise you'll have more going out than in
Sussex Nomad
Well-known member
Anything less than 2.5k (not including petrol or food) I'm a little bit screwed.
KZNSeagull
Well-known member
Since we moved back to the UK we have been living rather frugally. With 2 kids, we are living on about 1.7k a month, but we don't do holidays anyway so that is not really an issue. One major cost saving, if you don't mind second hand, is buy your clothes (not underwear obviously!) from charity shops. The quality of stuff available, particularly down south in the better off areas, is really rather good! Shop around for food - Aldi is generally cheaper than Lidl but not always. We don't drink, rarely have takeways and none of us have mobile phone contracts, so that all helps.
I've somehow been doing ok on this front. Car is only just over 10 years old, but no trouble (Toyota).
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
As a couple with no mortgage but eat out twice a week, go out elsewhere i.e. Theatre , pop concerts monthly , 4 -5 hols abroad a year , run 2 cars, shop in Waitrose , season ticket holders, etc, we always get through between £4-5k a month but I guess if we had to, we could live on £2.5 - 3k a month but it would mean a big lifestyle change
fair play but all that combined with a couple of kids sounds an awful existence.
Each to their own and glad works for you
KZNSeagull
Well-known member
Not really! Eldest is autistic, hence he hates holidays and everybody is happy and that is the main thing - we have never really needed lots of "stuff" to be happy.
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
If u are looking to save money for clothes, shop in primark you don't need to worry that someone else has worn them ( yuck ) and it's probably as cheap if not cheaper than 2nd hand charity shops !
Poyningsgull
Well-known member
- Apr 12, 2007
- 1,730
My 2k a month guide did not include holidays. The question was how much to live on. We also have many holidays but these are separately financed.
Cian
Well-known member
Had to do some severe belt tightening a few years ago as my partner went back to college and there wasn't an option of taking on debt. Freesat/Freeview for TV; SIM-only phone; Lidl/Aldi/greengrocers/ethnic supermarkets instead of Tesco all came in and I still do the lot of them despite the tap being turned back on income-wise. Leaves the cash for more fun stuff basically.
One thing that needs a bit of cash to do at the start but saved quite a lot once I could afford to do it was not paying anything by monthly instalment where possible - insurance and motor tax mainly as property tax didn't have any surcharge. 200-300 saved a year in interest/'convenience fees'. Absolutely anything else that's left going out monthly needs to be reviewed - got my mortgage protection from 26 to 9.90 a month for a bit of awkward paperwork
Managed to cut about a grand a month from outgoings with some pain - managed holiday that was funded nearly entirely off loyalty points earned before. Definitely ended up eating better too.
One thing that needs a bit of cash to do at the start but saved quite a lot once I could afford to do it was not paying anything by monthly instalment where possible - insurance and motor tax mainly as property tax didn't have any surcharge. 200-300 saved a year in interest/'convenience fees'. Absolutely anything else that's left going out monthly needs to be reviewed - got my mortgage protection from 26 to 9.90 a month for a bit of awkward paperwork
Managed to cut about a grand a month from outgoings with some pain - managed holiday that was funded nearly entirely off loyalty points earned before. Definitely ended up eating better too.
pearl
Well-known member
What about Pension Scheme ... or does your 'boss' pay that?
mejonaNO12 aka riskit
Well-known member
Wife is on Stat maternity pay at the moment so currently feeling the pinch. Will feel positively flush when she goes back part time. It's odd, because we felt poor before when she was full time. It's weird how you gain a bit of perspective.
I remember when we first bought the house about 6 years ago and we were going through every bill and where we could lower its cost. My wife said "And I suppose, in the worst case, you could drop your season ticket".
I literally laughed in her face.
I remember when we first bought the house about 6 years ago and we were going through every bill and where we could lower its cost. My wife said "And I suppose, in the worst case, you could drop your season ticket".
I literally laughed in her face.
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
Fair point, I was including hols which add on about £1k a month
Wrong-Direction
Well-known member
- Mar 10, 2013
- 13,638
He opted me out [emoji23]
Should probably start thinking about it though..
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Weststander
Well-known member
Serious point, he's not allowed to do that, unless you explicitly instructed him to.
SIMMO SAYS
Well-known member
LowKarate
New member
Ask for a raise.