How much money for living?

fits

I am trying to save at the moment without compromising too much on quality of life. I am wondering how much do you think is a reasonable amount to live on per month after all the fixed bills (rent, health insurance etc) are paid.

Basically how much money would you reasonably need for food, clothes, eating out, haircuts, leisure etc per month?

coffee_cake

Totally depends on your income and circumstances tbh
I would like to more than I have but I spend a lot on music fees language fees exam fees classes etc so those are my priority atm and the rest is 'as little as possible', nice dinners and things notwithstanding

fits

Is 1000 euro an awful lot? For everything, food, clothes, occasional medical appointments, leisure etc. (flights home)

spurious

fits wrote: »

Is 1000 euro an awful lot? For everything, food, clothes, occasional medical appointments, leisure etc. (flights home)

I could quite easily live on less than that and did for a couple of years while on a career break.
A car would eat into your money, so if you don't have one, it's quite possible I think. Aldi and LIDL are your friends.

fits

I know I 'could' live on less. I don't want to scrape the bottom of the barrel either. Eating out or having friends over is a major part of my social life, so while its expensive, I'd go mad if I gave it up.

I don't have car. I walk to work. I literally have no expenses other than rent and utilities (which are tiny).

Siuin

Well, as a student I manage to live on 450e for accommodation per month + 50e for food per week (buy in bulk, go vegetarian more often, shop in aldi and go for simple nutritious food like rice and porridge), 10e transport per week (2 return buses to the city twice a week), I give myself haircuts (trim the ends- it's not hard!) and would only spend about 15e per week on entertainment (plenty cheap/free alternatives)

The Big Red Button

fits wrote: »

Is 1000 euro an awful lot? For everything, food, clothes, occasional medical appointments, leisure etc. (flights home)

That seems like a LOT!!!

Well, flights 'home' would very much depend on where you'd be flying to and how often?

Also, you'd have to specify where exactly you're living (cost of living in Dublin will generally be more than elsewhere in Ireland.)

Also you say in the OP that we're assuming rent is paid - what about bills etc? How about travel costs for work etc, are we including/excluding these? Do you have a car (this was always my biggest financial drain!)

If I were to exclude rent, bills, travel, car costs. I could realistically live on €30-€40 a week, so that's about €130-€170 a month. In reality, I spend waaaay way way more than that, but I reckon that's what I could live on, if I had to.

fits

Fluffy Bunny Rabid wrote: »

I could realistically live on €30-€40 a week, so that's about €130-€170 a month. .

Realistically? I don't think that's realistic at all.

Including food, prescriptions, trips to doctor, haircuts?

Like I said I don't want scrape the barrel.

I want to live well, but not too well and save some money.

Flights home cost about 300 euro every couple of months.

Siuin

fits wrote: »

Realistically? I don't think that's realistic at all.

Including food, prescriptions, trips to doctor, haircuts?

Like I said I don't want scrape the barrel.

I want to live well, but not too well and save some money.

Flights home cost about 300 euro every couple of months.

Well you need to factor in your own extras to suit your budget- not everyone will be getting prescriptions and having trips to the doctor.

The Big Red Button

fits wrote: »

Realistically? I don't think that's realistic at all.

Including food, prescriptions, trips to doctor, haircuts?

Like I said I don't want scrape the barrel.

I want to live well, but not too well and save some money.

Flights home cost about 300 euro every couple of months.

As I said, flights to wherever 'home' is are going to be separate!

Food would be the bulk of the figure I mentioned.

Prescriptions? Most people budget for these. I have no prescriptions, so why would I include them.

Trips to doctor? Hardly a regular thing. I wouldn't include these costs in a monthly budget; I'd be more inclined to have an 'emergency' fund set aside for these things, if necessary.

Haircuts? Honestly, if I was down to scraps, it's something I'd do without, or ask friends to do, so it's not something I'd budget for. It's a nice luxury, that I enjoy (and I do get my hair cut every 4-6 weeks. It's a luxury, though, not an essential.)

Honestly you need to make your OP a lot clearer. I'm not sure what you're looking for?!

closifer

I think there are very few people in ireland right now who have 1000 left over at the end of each month after paying bills etc. That is a massive sum for just leisure activities and luxuries!! I am working full-time and I actually got paid today so I am just doing up my budget. I have paid all the dreaded bills and I have 500 left. I also get my hair done - usually costs about 100 every 2 months. Spend about 40 per week on food and 15 on petrol.

If you have 1000 per month and no car - you are in an extraordinarily lucky position!

lazygal

There's no way to answer this question. For some people a car is a necessity. At my stage of life with a small baby its a top priority as public transport can be unreliable and for weekly shopping I can't do without it. I happily survived a long time on my own without it. For convenience I shop in Superquinn. I could save a few bob going to Lidl but I can't get everything I need there so I'm happy to spend a bit more on groceries. Social life has changed from nights out once or twice a weekend to dinners in people's houses, designated drivers - definitely spend way less on this. Clothes, again when I was fancy free I spent a lot on clothes, not half as much now.

Draw up a list of your priorities - yours, not anyone elses - and try to see where money can be saved to pay for them. I'd recommend keeping a spending diary for a couple of weeks, see exactly where your money goes and where its being wasted.

coffee_cake

I wouldn't be calling rice nutritious!!

Yeah OP if you do want to cut back, the only thing is to keep a spending diary. As you can see already, it varies a lot for different people

fits

That is a massive sum for just leisure activities and luxuries!! I

![/Quote]

jes did anyone read my op? Its for food as well, basically all expenses besides rent and health insurance etc.

it was obviously a stupid idea to start this thread.

I know im lucky to be quite comfortable. seems anyone will get shot down for admitting to it.

closifer

fits wrote: »

That is a massive sum for just leisure activities and luxuries!! I

!

jes did anyone read my op? Its for food as well, basically all expenses besides rent and health insurance etc.

it was obviously a stupid idea to start this thread.

I know im lucky to be quite comfortable. seems anyone will get shot down for admitting to it.[/QUOTE]


Fits I wasnt shooting you down at all! You asked if "1000 euro is an awful lot". Im simply saying that by todays standards - it probably is!!If you have it - enjoy it! Only you can know how much you need to live - it obviously varies according to lifestyle. I have had times when I had nearly 1500 a month to live on and times when I got by on about 250! Its sort of a "how long is a piece of string" question because it depends on a persons lifestyle, circumstances and the amount they are willing to sacrifice.

tomboylady

By the time I get my salary, and pay my rent, ESB, phone/internet bills, college fees, etc I usually have between €50-€100 left. I shop in Lidl/Aldi, don't go out very often (maybe once every 4-6 weeks), a big treat is a trip to the cinema. I adore going to the theatre so if there's something coming up that I want to see I'll try to save as much as I can so that I can afford a ticket.

During the summer months I can usually pick up a a little freelance work so I might treat myself to a few nights out, but for the most part it gets saved for things like Christmas presents, birthdays, etc.

username123

fits wrote: »

Basically how much money would you reasonably need for food, clothes, eating out, haircuts, leisure etc per month?

Why dont you keep a spending diary for a couple of months to see how much life costs you? Then you can decide what could be cut back, and realistically how much you absolutely need to maintain a certain quality of life.

fits

^ I suppose I should.
I know exactly what my fixed costs are going out every month but other spending varies a lot. I travel a lot with work and then travel home to Ireland a good bit as well so it does very an awful lot. If I set a (doable) limit I might have a better chance of saving more.

ilovesleep

Siuin wrote: »

Well, as a student I manage to live on 450e for accommodation per month + 50e for food per week (buy in bulk, go vegetarian more often, shop in aldi and go for simple nutritious food like rice and porridge), 10e transport per week (2 return buses to the city twice a week), I give myself haircuts (trim the ends- it's not hard!) and would only spend about 15e per week on entertainment (plenty cheap/free alternatives)

How do you trim your own hair? How would you do the back? And on your own and all? It's just I'd love to save on this expense. By right I should be getting my hair trimmed every 10 weeks, but I don't. I go maybe about twice a year and my hair is a messed. I priced the student hairdressing college and it's 20 euro

Siuin

ilovesleep wrote: »

How do you trim your own hair? How would you do the back? And on your own and all? It's just I'd love to save on this expense. By right I should be getting my hair trimmed every 10 weeks, but I don't. I go maybe about twice a year and my hair is a messed. I priced the student hairdressing college and it's 20 euro

I've very long hair which is kinda layered (so not necessarily a blunt straight end) so basically I pull it evenly at both sides and snip an inch off the ends- it's pretty handy! I've had a few compliments in the past on my haircuts, which is kinda funny :P

Also, for people out there who have light coloured brows and get them tinted regularly, I'd highly recommend investing in Clairol's Nice 'n Easy Root Touch-Up kit, some cotton buds and vaseline- you can do them yourself for a fraction of what you'd pay in a salon

IzzyWizzy

fits wrote: »

Is 1000 euro an awful lot? For everything, food, clothes, occasional medical appointments, leisure etc. (flights home)

Yes, for most people, it would be. I've had times when I've had to live on that with the rent and bills included. I've also had times (not for long, I might add!) when I did have 1000 euros of disposable income and managed to fritter it away on clothes and weekends away.

It really depends what YOU consider 'scraping the barrel'. For some women, that might mean no weekly manicures. For others it might mean eating meat-free dinners a few days a week. Everyone has different standards and different things they compromise on.

I'm starting a new freelance career, so have no choice but to live on a pittance. I only have about 200 euro per month left after essentials at the moment (my yearly holiday is already paid for). That means no beauty salon, no haircuts (growing out my hair long so only need a trim 2-3 times a year), dying my own hair with henna, no buying new make-up/clothes/shoes, going out for a coffee or pint instead of a full-on dinner, doing hobbies which don't cost anything (meeting people to practise my languages, running in the park etc). Honestly, it's really not that bad. I'm happy enough. And I don't even have the benefit of knowing I'm only doing this to put money aside for something big. I couldn't do this for years, but it's fine for now. Just depends on what you're used to and what your expectations are.

The Corinthian

If €1,000 per month is too much, it's not by much.

Unless you're fond of horse offcuts, your shopping bill will be higher than the rock bottom required to survive - without getting into all that organic nonsense. Lidl and Aldi are good, but I'd advise you buy different things in different places.

Socializing depends a lot on where you go and how often; most seem to go for one or two pints one or two times per week and then one 'major' night out (how 'major' is open to debate). If you're doing more than that then you probably should scale back and even if you're at that level, there's no harm cutting one minor trip out a week (or every two weeks).

Of course, no one lives by bread (and beer) alone, and you'll get 'exceptional' expenses that crop up from time to time, but not every week. Buying clothes, haircuts/dressers, doctors/prescriptions (prescriptions you take all the time, I'd factor as normal shopping) and holidays.

One way gauging this is draw up a list of all of them, ask yourself how much you got to them or use them per year, tot up the cost and divide by twelve. Then round it up.

I suspect between €800 to €1,000 per month, after bills would be what you're looking at. If you save nothing on this, or cannot afford it, go back and see where you can make cuts.

Hope this helps.

fits

Thank you! I was beginning to wonder if I was living on a different planet ITs not exactly scraping by, but not a huge amount either.

undecided

I wouldnt have that to spend on my whole family (2 adults, 12 yo & 9 yo). we spend approx 100 pw on food, approx 70 for saving/ leisure and utilities approx 200 pm.....so yes you will have a very good standard of living.

undecided

I wouldnt have that to spend on my whole family (2 adults, 12 yo & 9 yo). we spend approx 100 pw on food, approx 70 for saving/ leisure and utilities approx 200 pm.....so yes you will have a very good standard of living.

The Corinthian

undecided wrote: »

I wouldnt have that to spend on my whole family (2 adults, 12 yo & 9 yo). we spend approx 100 pw on food, approx 70 for saving/ leisure and utilities approx 200 pm.....so yes you will have a very good standard of living.

That's not her problem though. She apparently does earn above the average and is asking how best to save something without impacting too much on her standard of living, not that she needs to budget just to make ends meet. So when responding you ultimately have to take into account her financial situation, not yours.

IzzyWizzy

The Corinthian wrote: »

If €1,000 per month is too much, it's not by much.

Unless you're fond of horse offcuts, your shopping bill will be higher than the rock bottom required to survive - without getting into all that organic nonsense. Lidl and Aldi are good, but I'd advise you buy different things in different places.

Socializing depends a lot on where you go and how often; most seem to go for one or two pints one or two times per week and then one 'major' night out (how 'major' is open to debate). If you're doing more than that then you probably should scale back and even if you're at that level, there's no harm cutting one minor trip out a week (or every two weeks).

Of course, no one lives by bread (and beer) alone, and you'll get 'exceptional' expenses that crop up from time to time, but not every week. Buying clothes, haircuts/dressers, doctors/prescriptions (prescriptions you take all the time, I'd factor as normal shopping) and holidays.

One way gauging this is draw up a list of all of them, ask yourself how much you got to them or use them per year, tot up the cost and divide by twelve. Then round it up.

I suspect between €800 to €1,000 per month, after bills would be what you're looking at. If you save nothing on this, or cannot afford it, go back and see where you can make cuts.

Hope this helps.

I'd have thought 1000 euro of disposable income for a single adult would be enough by anyone's standards, unless they weren't even trying to be careful with money. When I first started working at 22 (at the tail end of the 'good times' and blissfully oblivious to what was about to happen to the economy), I didn't bother saving anything and pretty much bought everything I wanted, within reason. Clothes, shoes, dinners out, midweek pints at 6 euro each, taxis home instead of walking, shopping in Dunnes, flights to see family in England once a month, weekends away. Frittering it away without trying to save for anything big, but it was still more than enough.

It's impossible to advise OP without knowing what she's actually earning and where she actually lives. If she's on a salary similar to that of my ex-colleagues in the European Commission in Brussels (4-5 grand a month take home pay in a city with relatively low rents and cheap transport), then 1000 a month to live on is reasonable. If she's on anything like the average salary in Ireland, then she's being too extravagant. It's all relative.

Stheno

Going by what you've posted, I'd estimate the following for your spending per month:

Food €300 (50 per week for you, and an extra 80 or so for say two dinner parties?)
Eating out €200 (once a week at fifty per meal)
Meeting friends for drinks €100 (once a week at 25 per meetup)
Flights €150
Haircut €50 (assuming you get it cut/coloured every ten weeks @ €150 a time)
Clothes €50 (covering clothes/shoes/drycleaning)
Cosmetics €25
Not including doctors, prescriptions or any other hobbies/leisure activities you do, that brings you up to €875 per month (probably closer to €925 given that I've worked on the basis of four weeks rather than a month as I'm being lazy)

So on that basis, I don't think €1000 is too much, it's a very nice standard of living to have

One thing I do is just use a spreadsheet to put in all of my "fixed" expenses then put in figures for non fixed expenses such as the above, contingency (like stuff such as doctors etc, or include those if they are regular)

Then I total that up, put in my income, and use that to estimate what I can save. When I started doing that I tracked it, and now have the savings in as a "fixed" expense so it too goes out at the beginning of the month and I'm then left with my "allowance" for the month so to speak

movingsucks

lazygal wrote: »

There's no way to answer this question. For some people a car is a necessity. At my stage of life with a small baby its a top priority as public transport can be unreliable and for weekly shopping I can't do without it. I happily survived a long time on my own without it. For convenience I shop in Superquinn. I could save a few bob going to Lidl but I can't get everything I need there so I'm happy to spend a bit more on groceries.

Hope this isn't too off topic but Superquinn deliver and you can shop online as do Tesco. It costs about five euro extra but I found it great when I had no car and a small baby, and for even when I got the car but was so knackered I didn't feel safe driving

pwurple

movingsucks wrote: »

Hope this isn't too off topic but Superquinn deliver and you can shop online as do Tesco. It costs about five euro extra but I found it great when I had no car and a small baby, and for even when I got the car but was so knackered I didn't feel safe driving

Supervalu do that too. They have a shopping app.

On the disposable income, if it helps, the bank expects you have 1000 per adult, and 500 per child left over after mortgage and any other loans each month for a mortgage application. So apparantly it's the going rate.

Queen-Mise

I'd look at this another way OP -

Essentials - Mortgage/Rent, Utilities, Travel to Work, Food, Doctor (prescriptions) etc
Separate this out from your spending money to live on a month.

Non-Essentials - Flights home (maybe, this is a rough idea), leisure,

Luxuries - Eating out, Theatre, etc

Some things like food & clothes will go into Essentials and Luxuries i.e. your milk is essential & your Haagen Daz is a luxury:D The same for clothes.

So when saying your figure of 1000 - it is not a fair question to ask us is it enough for you to live on as we have no idea what your essentials are costing and some of the things you mentioned are classed as essentials.

So look again at your costs and break it down (doesn't have to be down to the penny - but to give you a rough idea).

If you are talking about saving - I would start with innocuous amount to come out on your pay day. If that is ok for a month or two - then push it up 25 & then up again. Don't decide you are going to save 200 a month and then have nothing to live on for two weeks.