How much do you spend each month and what does your budget look like?

bradson

Why is this happening this regularly?

Bubbaclaus

bradson wrote: »

Why is this happening this regularly?

What? The resurrecting of dead threads?

Bubbaclaus

Bubbaclaus wrote: »

What? The resurrecting of dead threads?

Hardly dead, it's only a few months old (although people listing their outgoing costs without listing their income makes it a pointless thread).

Antares35

[Deleted User] wrote: »

Hardly dead, it's only a few months old (although people listing their outgoing costs without listing their income makes it a pointless thread).

As opposed to all the other Boards threads which inform our government strategy and act as beacons of morality and guidance in troubled times

Jim_Hodge

bradson wrote: »

Why is this happening this regularly?

Why is What happening?

Yyhhuuu

I spent €70 last month on day to day living expenses I.e . Food ( but I had a lot in freezer) plus my phone 9.99. I dont order take aways obviously.

Antares35

Yyhhuuu wrote: »

I spent €70 last month on day to day living expenses I.e . Food ( but I had a lot in freezer) plus my phone 9.99. I dont order take aways obviously.

That's really impressive. We spend way too much on food, especially since lockdown. I can't figure it out. We will do a "big shop" and I'll think we don't need to go near a shop for ages then a few days later we will need a top up. Guilty of stocking the freezer then neglecting to actually take stuff out!

ELM327

We moved to aldi a couple months ago and reduced 1k shopping down to sub 500 quid (family of 4).
This was the biggest thing we learned from sitting down and doing our budget out in excel. We were spending way too much in Tesco on shopping.

Viscount Aggro

Income after tax 5000
Monthly spend is 200

100 food / drink
30 fuel
5 phone top up
Remainder goes on annual bills, tax, ins
Internet - work pays
Heat - nil. Wood burning stove, free supply of timber
Waste collection - compost kitchen waste, strip off packaging in store, rest goes in bins
Health insurance - work pays
Rent / mortgage - nil, sorted in my 20s

foxy_j

I work part time so my salary is €25k, however husband in the last few years has moved up in his career from 45k to 85k.

My monthly salary after tax is €1800


Mortgage: My half is €350 p/m, total is €700- although my husband throws more in to pay it off quicker

Bills: broadband - my half €15 p/m
roughly electricity - my half €80 pm.
roughly gas - my half €50 p/m
life insurance- my half €15 p/m
house insurance - €17 p/m
Property tax- my half €15 p/m
Phone- €15 p/m
health insurance - €65 p/m but I pay it annually. My work contributes €50 a month towards it.

Food & Household: We spend about €80 per week on food so my half is €160 p/m

Transport & Travel: Just car tax, insurance and petrol- I pay the tax and insurance annually but works out at about €57 p/m. Petrol not sure as not going anywhere really atm. say €20 p/m, pre covid it was about €40 p/m

Shopping & Clothes: I do like to shop online so probably about €200 p/m

Entertainment & Eating Out: Only takeaway food and coffees atm so probably around €30 each p/m

Savings: 20k ( Just my savings)



This was a great exercise as I usually don't budget at all. So it looks like I spend €965 p/m on all my expenditure. We have our own personal accounts plus a joint one.

Kerry25x

I'm reposting because I feel like I've gotten a better handle on finances over lockdown. Expenses have also gone up due to adding health insurance, medication costs and a second vehicle.

Married couple, no kids (but one on the way )

Joint income after tax: 6600 (2900 + 3700)

Mortgage: 522
Health Insurance: 187
Medication: 114
Electric: 90-ish per month
Gas: pre paid meter, top up by 50 every couple months.
Groceries: 400 (this seems to keep creeping up)
Petrol & Diesel: 80 (will go up post lockdown)
Irish Life: 34
Sky: 32 (on the verge of cancelling this)
Virgin Broadband: Husbands job pays this.
GoMo: 20
Netflix: 8
Youtube Premium: 5
Amazon Prime: 4.5
Specsavers Contact Lens Subscription: 13
Charity: 10
Short Term Expenses: 200 a month put away in a separate account for irregular bills like bins, car insurance, house insurance, tax, professional fees, dog food etc.
Misc Spending: shopping/eating out/house maintainance etc, €400 each on seperate revolut accounts per month and also a shared €1000 float between us. Anything not spent rolls over and eventually gets spent on bigger purchases.

Pensions, company share scheme, property tax and union fees are all deducted at source so already subtracted from income.

Savings: Approx 3k per month

dublin49

The one thing I did over the years was when I made additional capital payments off my mortgage I didnt inform my Mortgage protection agent and hence my Mortgage is massively over protected so I don't bother with any other life insurance.We are 20 years into our mortgage and there is a healthy number between what is outstanding and what a death benefit claim would pay out.

Yyhhuuu

Antares35 wrote: »

That's really impressive. We spend way too much on food, especially since lockdown. I can't figure it out. We will do a "big shop" and I'll think we don't need to go near a shop for ages then a few days later we will need a top up. Guilty of stocking the freezer then neglecting to actually take stuff out!

Re Freezer My advice is dont leave it in the freezer past about 2-3 months or thereabouts as it can lose its texture and tastes awful. Date everything and wrap well to reduce freezer burn.

Roughly monthly expenses as follows:

Food: Approx €100 ( less last month)
Fuel: 0 ( No Car)
Phone: €9.99
Internet: 0 ( use phone)
Heat - 0 ( use firewood from my property)
Waste collection: 0 ( use relative's bin)
Health insurance - 0
Rent / mortgage - 0 ( fortunately)
Property Tax: uncertain a few hundred/ year
Holidays: 0 ( usually about €83)
Insurance: 0
Bank fees: 0
Dental Medical 0
Electricity: €40 ( less with welcome credit)

I live very thriftly so it was very easy for me to only spend such a small amount per month my outgoings are only phone €9.99, All my food is reduced price so it only costs about €1 for main course( fish and veg) Homemade soup is delicious in winter evening costing about 10c per portion. electricity is usually €40 per month but even less now with generous welcome credit, I dont buy clothes anymore as I have enough, thankfully I have no mortgage. Obviously I dont travel now. It's actually very difficult to spend. I save a considerable amount. Looking forward to an expensive holiday when Covid ends. Maybe Australia.


My advice to anybody saving is only buy what you need and ask yourself if you will use what you buy...

My gross income is modest at €34,800 as not full time. Pre Covid I managed to save approximately €20,000 per annum. Obviously with Covid this will increase. Again I have no dependants and no mortgage so very fortunate and realise others may not be able to save as much. Cant wait to spend it on experiences.

dublin49

Mortgage paid but I think for comfortable living for a couple the 4 x 10k expenditure is roughly correct;

10k -fixed bills
10k weekly fixed.food,petrol ,beauty care and medicine.
10k weekly variable ,social life,clothes,Sundry exps
10k,car depreciation,holidays ,big ticket items like home repairs /improvements,

If reductions required they come from line 3 and especially 4.

dianewil

Yeah, I can totally agree with it, since I am experiencing a similar issue.

pwurple

Kerry25x wrote: »

Pensions, company share scheme, property tax and union fees are all deducted at source so already subtracted from income.

Savings: Approx 3k per month

Kerry25x, check you are maxing out the pension contributions too, unless you are saving for something specific. That’s a lot of savings you could be potentially avoiding tax on .

Kerry25x

pwurple wrote: »

Kerry25x, check you are maxing out the pension contributions too, unless you are saving for something specific. That’s a lot of savings you could be potentially avoiding tax on .

I'd like to actually but I'm public service so I'm not really sure how it works, need to look into it! I didn't start nursing until my late 20's so could probably buy back years or something. Our savings are to hopefully upsize to a bigger place in the next 2 years.

Irish_rat

Id say this thread has changed a bit since with inflation driving up all prices!

piplip87

Fraud investigator on 36,000 a year. Health, pension, bike to work all deducted before tax.

• Rent: 500 mortgage other half pays 500
• Bills: In and around: 200
• Food & Household: again in and around 200
• Transport & Travel: 150 a month for school runs but it will go up by about 250 when we return to office
• Shopping & Clothes: in and around 70
• Entertainment & Eating Out: Could be 400 in Summer with gigs and football matches but only 100 now that places are closed.
• Kids - Anywhere between 100-400
• Savings: Doing up the house but by bit so savings drained and anything left after payday goes straight into a joint account for the next phase. Currently about 5000 for bathrooms to be done