Disposable income

[alxndr]

My apprenticeship proved to me that I don't need all that much to be happy. After all necessities were covered I had about £600 a month, and would spend less than £100 each month. Other than the figures in my savings account, I wouldn't have noticed if I'd been paid half that, or less!

That said, my idea of a good day out is wandering around somewhere with a camera, and I drink perhaps two or three times a year so no massive outgoings there either.

 

[Essan]

The actual figure will vary considerably from person to person. But as long as it's 1p more than you need, then you're fine.

 

[shredder1]

I`m single, house paid for, cars paid for, no outgoings really apart from the usual gas electric, council tax, guitar strings, and a girlfriend who`s cheap to run. I have recently recieved a salary increase, which is a nightmare now, trying to decided on what to spend the extra cash on

 

[Simon11]

and a girlfriend who`s cheap to run.

Where can I find one of those?

 

[RichmondCommu]

My wife and I are very fortunate in that we have significant disposable income but on the other hand most of it is saved every month; either to help our children get on the housing ladder or to top up our pension pots.

For what its worth in my opinion people in this country do not save anything like enough.

 

[RichmondCommu]

I`m single, house paid for, cars paid for, no outgoings really apart from the usual gas electric, council tax, guitar strings, and a girlfriend who`s cheap to run. I have recently recieved a salary increase, which is a nightmare now, trying to decided on what to spend the extra cash on

I have a solution to your problem; start putting it into a savings account!

 

[Dai Corner]

I saved up to half my salary once I'd paid off my mortgage after being made redundant 13 years ago. Having got used to living on this I found that I could afford to retire on a pension of about half my salary last year and had my savings for any big expenses.

Having no kids expecting help from 'bank of Dad' helps. I will join the queue for the 'cheap to run' girlfriends

 

[NorthernSpirit]

I earn around £500 - £1,000 a month for the job I do in manufacturing - however I only work for nine months out of the year. Taking out the cost of lodgings (as at the ripe old age of 28, I'm still living with parents) and savings I'm left with around £80 at my disposal.

Hopefully once I change my job and move out of the family home, I should hope that I'm on double of what I get at the moment.

 

[robbeech]

So, like a lot of people here I'm sure, I'm a self employed business owner. My disposable income tends to go back into the business where possible as this investment generally allows higher turnover in the future. It does become a little bit of an addiction though and you can quickly ind yourself short on money for yourself when you just have to have that £40,000 mixing console because you have work for it over the next few months. This is an extreme example of course.
The other thing to remember with people in this position is the varying amount of income each month. For me, a typical March or April can see me with less than £1000 truly disposable income combined, where as a January or a July can see me with 5 or 6 times this per month.

I have been very ill recently and with the exception of a couple of bits i have been unable to work, i have managed to get other people to cover my work but sometimes due to extra travel and accommodation costs this has meant i have lost money, but have kept the client happy.
I've also got money to pay out for various tests and visits to consultants as paying for this privately will hopefully get me mended quicker so i can get back to work so there is an initial outlay but all being well this should work out ok in the long run.

My advice to people is to save money for a rainy day, but don't treat every other day as a sunny one, I've saved enough, but in the last couple of years i have started to say no to a few more jobs and spend a bit more time doing other things, i did 3 4 in 8 and 2 7 day 1st class ALR between July and November alone last year for example.

I have no mortgage / rent to pay so that helps in the quieter months / times like now when i am ill.