What Percentage of Your Monthly Income is Disposable Income?
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I just thought it would be interesting to know how people are getting on in this financially difficult period. I believe disposable income is basically the money you have to spend on what you like after all your monthly expenses are paid which includes; mortgage/rent, council tax, insurance, average food bill, energy costs, broadband/tv services, loan repayments, car costs etc. I don't think it would include savings payments if you do that monthly like ISAs. So if you have £2000 coming in per month and £1800 going out on regular bills your disposable income would be 10% i.e. £200. Just to keep people's earnings etc private I think we should keep to percentages but its up to you. Mine would probably be 20% approx but I have other earnings that are less regular that could increase that.
Also has your disposable income ratio changed a lot compared to a few years ago perhaps pre-covid?
We've had to cut back or quite a bit, we'd normally have a family holiday and a couple of camping trips the trips are off this year
Not a lot. I work part time and not enough for contributions. Husband pays bills. I pay for all car expenses and house maintenance issues when I have saved enough. Having to calculate every spend.
I think mine is about the same... I'm a part time worker (nearly 30 hours) with occasional extra cover jobs here and there. I am trying my best to save. It would be impossible if I lived alone.
Nadiaparveen A huge amount of people are really struggling to balance the books and are building up debts on their credit cards etc. It's a hugely difficult time for many and a real drop in living standards for others although they are still managing to stay out of debt. I hate to say it but I can only see it getting worse sadly.
Partner pays most of bills,I pay for Food,,Toiletries,etc,anything our cats need Healthy Pet Club & all their Food,Biscuits & Treats.
I pay half to car repairs,half if we buy something new like a new Shark vacuum, half of Water Bill & half towards anything our Student Radiographer Daughter needs,also half towards her Rent..
Both Partner & I have moved our Savings to Chase Banking...
Our mortgage was paid off years ago but kitchen is over 23 years old & bathroom about 28 years old..
We live in an ex council house.
We aren't extravagant,eat out once every two week,maybe have Lunch at a nice Cafe or a pub meal.
We are fine money wise. We do not charge my partners dad any money for rent, but he buys bits and Bob's of shopping and looks after our son if we ask him, and we have solar panels
So we sell some electricity back to our energy supplier
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