How much do you have left a month?

[Silkster365]

Following on from Poidy's thread on buying somewhere, my mrs and I are both looking at buying our first place at the moment too.

We are very conscious of not stretching ourselves, but at the same time finding somewhere to stay for a long time to come.

So, for those who are happy to share - how much do you have left each month after paying your mortgage and bills?

 

[Dan Aitch]

Nothing. Always too much month left at the end of the money.

 

[Husty]

Are you really expecting serious answers to this thread?

 

[Greyrun]

£2500.

 

[Beach Hut]

Around £3k to live off after all the direct debits

 

[SIMMO SAYS]

I was thinking of buying a FLEET of TRANSITS but the PIKEYS have beat me to it

 

[spongy]

I don't have any left as it stands but I'm in a similar position to you, ie. I want to buy a house but don't have any deposit unless I save.

Me and the missus could afford to buy a house but we don't have the capital up front. We rent a flat, so our bills are the same as a home owner as in rent, electric, water, gas, council tax, sky/broadband, the car running costs and various insurances etc. our monthly outgoings average about £1400.

I'm now 35 and have resigned myself to never buying my own house now as much as I would love to. And now We have a baby on the way due in July so we will have even less cash available. But we have tried to enjoy life as much as we can by going to the pub midweek to break the monotony of the week up. Having a take away at the weekend, buying a new pair of shoes or a new shirt for me every 3 months or whatever.

But on the other hand I have no savings to speak of, I've only just started putting into a private pension this month now my work has started the government compulsory pension plan early.

The trouble is that I desperately want a stable environment to bring up my baby, and that to me, means having my own house to provide said stability. Renting is a horrible thing to do, I realise mortgages are variable and can rise with interest rates etc so it can become too much. But the longer you have a mortgage, eventually it will get cheaper the older you get if you don't remortgage. Rents on the other hand are always going to increase. Now I've started a pension late I'm going to have to figure out how I can pay my rent when I'm 75 (if I live that long) on a small pension and the state pension (if that will even exist in 35 years).

It's really hard to deal with for me personally knowing I probably won't own my own place. I'm quite an intelligent chap who can normally figure out how to deal with a situation one way or another with a decent attainable answer but this question has me stumped and is depressing now being able to figure it out.

Between us, after bills, we have about £400 to play with so to speak, so if we just go to work, come home, eat and then go to bed, stay in on weekends and repeat that cycle we could save £4800 per year. So 3-4 years of being hermits and not seeing friends or socialising or going out. (That includes giving up my season ticket) I haven't looked recently at deposits but unfortunately neither of our credit ratings are particularly good so we could need circa 20k to even be considered and then it would have to be a bad credit mortgage with higher interest rates and a higher deposit , even then it's no guarantee of acceptance.

Or we could live up north where we could afford a house, but I can't earn the same money in the same engineering sector as I can down here and that would mean a complete move away from all family and friends.

I realise this has been a bit of a thread hijack but it's nice to know that at least other people are or could be in the same boat.

 

[StonehamPark]

Following on from Poidy's thread on buying somewhere, my mrs and I are both looking at buying our first place at the moment too.

We are very conscious of not stretching ourselves, but at the same time finding somewhere to stay for a long time to come.

So, for those who are happy to share - how much do you have left each month after paying your mortgage and bills?

I've just dug up this one from last year. A couple of hours from being a year to the day!

https://nortr3nixy.nimpr.uk/showthread.php?269372-Disposable-Income&highlight=

 

[mikeyjh]

Following on from Poidy's thread on buying somewhere, my mrs and I are both looking at buying our first place at the moment too.

We are very conscious of not stretching ourselves, but at the same time finding somewhere to stay for a long time to come.

So, for those who are happy to share - how much do you have left each month after paying your mortgage and bills?

I'm not going to divulge our status, but we're over paying the mortgage such that we're about 4 months from the finish, which will be a very happy day! My only advice is to do what we did and not stretch yourself, if you can't find the right house in the right location within a decent budget, accept it and find a location where you can. Much as it is obviously sensible to plan for the future, you don't want to suffer in the now. You will need to recognise that interest rates may rise significantly and you also need to know that maintenance of your property can cost loads. But most of all you should enjoy your home, listen to Phil, not Kirsty - It's a home first of all, not an investment

 

[deletebeepbeepbeep]

About £600 after bills but that's just for myself, try and save about half of that for random trips and expenses. Given up on the idea of buying a house, just never going to happen unless I move back in with the parents. Not happening.

 

[ali jenkins]

I don't know how people who have an average salary can afford to buy a house unless they are in a relationship, or as was said earlier, only leave the house to go to work.

 

[Deleted member 18477]

Saved up a deposit whilst living with parents and now after mortgage and bills are taken out I have about £750 left.

 

[MissGull]

1,400 roughly, depending on if I've done any overtime and then it's more.

I could save if I wanted, but I am also good at treating myself! So some months I can spend the lot. Some months I'll have loads left over. Don't ever look at my bank balance really.

 

[Silkster365]

I don't have any left as it stands but I'm in a similar position to you, ie. I want to buy a house but don't have any deposit unless I save.

Me and the missus could afford to buy a house but we don't have the capital up front. We rent a flat, so our bills are the same as a home owner as in rent, electric, water, gas, council tax, sky/broadband, the car running costs and various insurances etc. our monthly outgoings average about £1400.

I'm now 35 and have resigned myself to never buying my own house now as much as I would love to. And now We have a baby on the way due in July so we will have even less cash available. But we have tried to enjoy life as much as we can by going to the pub midweek to break the monotony of the week up. Having a take away at the weekend, buying a new pair of shoes or a new shirt for me every 3 months or whatever.

But on the other hand I have no savings to speak of, I've only just started putting into a private pension this month now my work has started the government compulsory pension plan early.

The trouble is that I desperately want a stable environment to bring up my baby, and that to me, means having my own house to provide said stability. Renting is a horrible thing to do, I realise mortgages are variable and can rise with interest rates etc so it can become too much. But the longer you have a mortgage, eventually it will get cheaper the older you get if you don't remortgage. Rents on the other hand are always going to increase. Now I've started a pension late I'm going to have to figure out how I can pay my rent when I'm 75 (if I live that long) on a small pension and the state pension (if that will even exist in 35 years).

It's really hard to deal with for me personally knowing I probably won't own my own place. I'm quite an intelligent chap who can normally figure out how to deal with a situation one way or another with a decent attainable answer but this question has me stumped and is depressing now being able to figure it out.

Between us, after bills, we have about £400 to play with so to speak, so if we just go to work, come home, eat and then go to bed, stay in on weekends and repeat that cycle we could save £4800 per year. So 3-4 years of being hermits and not seeing friends or socialising or going out. (That includes giving up my season ticket) I haven't looked recently at deposits but unfortunately neither of our credit ratings are particularly good so we could need circa 20k to even be considered and then it would have to be a bad credit mortgage with higher interest rates and a higher deposit , even then it's no guarantee of acceptance.

Or we could live up north where we could afford a house, but I can't earn the same money in the same engineering sector as I can down here and that would mean a complete move away from all family and friends.

I realise this has been a bit of a thread hijack but it's nice to know that at least other people are or could be in the same boat.

I feel your pain - and thanks for the long response, like you say, nice to know its not just us worrying/struggling although not nice that there are so many in the same position

Really don't want to push our luck on a monthly basis - interests are only going to go one way, but like you say, rents are only going to go up as well so it doesn't feel much of a win-able situation right now

We have managed to save around 10% deposit for a modest home but it's a battle between saving longer and hoping prices don't rise quicker than that at the same time!

Thanks for the honesty of others too - it's good to get a feel for how people get on on a monthly basis

 

[Deleted member 18477]

Around £3k to live off after all the direct debits

£££££££££££££

 

[nwgull]

Missis and I put in equal amounts to a joint account that pays mortgage and bills. Most months the bills come to around £650, and that includes £200 for the cleaner.

 

[Eksman]

About £600 after rent bills etc, somehow I waste it every month. When i lived at home with my parents I used to have about £1,200 a month left and despite that I still ended up borrowing close to pay day. I used to go out every weekend Friday and Saturday, I regret that now as I should have saved

 

[BBassic]

After the bills and rent I have a little over £800 left. I put £200 into savings and pay off any debt on my credit card. I reckon with other assorted outgoings (another food shop etc) accounted for I have about £300-£400 left to do with as I please.

Can't complain really.

 

[Leighgull]

I spend all of my spare cash on scratch cards and class A's

The rest I just squander.

 

[chez]

Blimey, everyone on here seems to be rolling it it!!

After bills & rent I have about £50 a month to myself and am always skint for the final 3 weeks of the month.