what proportion of your net income goes straight out on bills?

I have spent some of my lunchtime today rejigging some of my finances.

As part of that I have realised that 2/3rds of my net monthly income goes straight out in dd’s each month for mortgage, bills, savings standing orders etc but not counting food bills.

Kind of explains why I always feel skint! I’m just curious as to what the norms are as a %? Not too sure where I can cut back on some of my fixed outgoings…

Hopefully mortgage interest rates don’t rise anytime soon as unlikely to get a payrise soon either!

approx 1/3 on mortgage + bills.

(not including food or savings)

we are by no means loaded. we just have a small house.

About the same. Grim isn’t it?

Two thirds of my salary used to go straight out in bills. Down to about half now the mortgage has gone.

Including food, normal family days out and kids activities, pretty much all my income is accounted for.

Mine is about 2/3rds, includes food shopping but excludes fuel and car expenses 😐

A large proportion. When you go from dual income to single, jeez it’s hard to save money for a rainy day… Fence needs fixing? Car repairs? Bathroom? Kitchen? What about the winter holiday?
It’s hard to know where to start.
So, being single, the BIKE takes priority 🙂

This month <20%

When the mortgage goes through it’ll be a smidgen over 50%.

The Miss’rs doesn’t seem to realise the new mortgage will scupper her chances of ‘retirement’ when we have kids as it now means I won’t be able to pay the bills on my own!

Are we including things like loan repayments? childcare (nursery costs)?

If you’re including everything I’m obliged to pay per month then its about 50%, maybe a bit more. comprising the following items

mortgage
car loan
gas
elec
phone (mobile + landline)
broadband
council tax
insurances (motor, home contents,home buildings, health)
childcare (nursery)

About 25%.
Frugal living for someone on min wage. 😀

38% – childcare already gone out by them though and that’s not to say 62% is really disposable income, maintaining the house, eating food, buying toothpaste and schizzle

About two thirds goes out a day or so after it comes in but then I pay all the bills out of my bank and we use her wages for other stuff. Somehow though that last third always disappears by the time payday rolls around again.

Over 100%.

That’s why I have a wife. 😉

4/5th’s. But that includes childcare.

22% on the essentials. the rest gets squandered every month. 🙂

My essentials are:
rent
gas/leccy
phone (mobile)
broadband
council tax

Sounds like some of you need to buy smaller houses btw! 😆

2/3rds covers everything, mortgage, food, bills, loans etc. The rest, 50% goes into savings, anything else is ‘spending money’ and kids clothes.

Not including food.

1% maybe less.

14.8% of my monthly income goes on bills, that’s not including food, just gas, electricity, phones, sky, gym, etc.

I have probably 3/4 of my income that covers everything in the house including food.

Have about a 1/4 left to cover social life and private diesel for the car but can often get away with some left over work diesel if I drive economically!

Including childcare, currently about 50%, if our house purchase goes through – so swapping the rent for a mortgage and extra insurances will be up to around 60-65%.

Oh God, hadn’t really looked at it like that before

Edit,5% each for me and mrs-g in purely disposable income. 15% for food and travel, 10% to save. Yeah, thats all the money gone

savings standing orders

Can you count savings as bills?

Not including food.

1% maybe less.

Incredibly well paid, still living with your parents, or detained at her Majesty’s pleasure?

If i recall from the other thread, he lives in Thailand!

10 – 15 %

Embarrassingly i don’t know. About 30% goes on rent, i know that much.

This is a perfect thread for STW d1ck swinging.

The mortgage is about 25% of my take home. Council Tax is about 5%. Genuinely have no idea how much everything else is.

Living on a very tight budget at the moment after being made redundant from one of my other job.

I have a spreadsheet to calculate/budget my entire year spending so this year I am break-even. i.e. zero saving as all gone towards bills (88%) and food (12%).

If I lived in London I would be screwed big time with this income.

I think I need to withdraw my union membership contribution as I can no longer afford them …

This is a perfect thread for STW d1ck swinging.

Interesting take on it but bearing in mind there’s no salary details and no actual figures on monthly expenditure how do you work out your negative take on it?

Mortgage, food, bills (gas/elec/phone/broadband/tv/property management stuff/death cover for mortgage) = 45% which is more than I’d realised. I do pay for everything on my own though, the wife doesn’t really earn much at the moment as she’s working on a career change.

There’s been remarkably little swinging MrGrease, unless you’d like to add some?

45.58% – that includes everything such as savings plans for our children, life insurance etc etc (just doesn’t include food)

Im with Gary_M, as there are no details on where you live, whether you rent, live with mum and dad, mortgage, or own outright it just gives an interesting spread of the numbers across a fairly broad spectrum. My assumption is that the smaller percentage would more likely be down to age rather than location. There is no really willy waving potential.

I wouldn’t count personal saving as proper monthly outgoings really.

Depends how much I earn (self employed). Varies from <20% to 40%.

Seriously, mortgage, council tax, gas, leccy, water and childcare easily wipes out my monthly take home.
And that’s before I consider optional extras like food, petrol, phone, broadband, clubs, charities, etc

If we didn’t have my wife’s income we’d be fairly screwed. No idea how single parents manage it, respect.

GrahamS – Member
If we didn’t have my wife’s income we’d be fairly screwed. No idea how single parents manage it, respect.

Previously I made some calculations for a single person expenditure …

If you live in London you need £24k to £26k just to keep afloat with simple lifestyle. No saving.

If you are in the NE you probably can get away with around £14k to £15k with no saving.

50%ish on:

Mortgage
utilities
car expenses (insurance/tax – no loan)
phone/broadband/sky/mobile/tv licence
insurance
council tax

Groceries, savings, gym membership, bikes etc come out of the other 50% No kids.

Its bout 1/3rd of our current joint income.

Thats everything- mortgage , student loans , pensions , savings , cars (100quid standing order takes care of them) all bills and food.

Dont have as fancy a car or as big a house as some of my peers how ever the idea for me is prepare now so that when we have kids we have options instead of being backed into working all the hours to pay for the house.

After regular commitments and the inevitable incedentals I like to £20 per day for myself. This has been the same for the last 20 years.

All my fixed expenses:

1. Rent inclusive of all bills
2. Car insurance
4. Secure car park charges
5. Council tax
6. TV license
7. Union membership fees(will withdraw soon if my income does not permit)

All my variable expenses:

1. Petrol
2. Mobile phone – Pay as you go top up £20 x4 a year.
3. Food.

No more budget for the rest this year … no new toys, no traveling home to N.Borneo for holiday etc.