Bank account at the end of the month

[Mrs R]

This is an extremely nosy question but something that i have been wondering about recently

How much do you have in your bank account at the end of the month? Do you live paycheck to paycheck?

The reason im asking is that DH and I have always worked in full-time and well paid jobs (both professionals). However DH is now on a reduced working week, and i've dropped to part-time hours and currently on mat leave.

We have never had to live from one wage to the next and always had lots to spare (we have been fortunate that we have never needed to claim benefits either). We have excellent savings (some day these will pay off our mortgage) and continue to save £600 a month towards this. We do not touch the savings (not my choice lol) I have never had to keep track of our money (til now).

However now that we are both working a lot less, our bank account looks worse and worse every month.

Im just wondering if its common to live month to month or do you have some left over/anything to save at the end of the month ?

(Told you I was nosy lol)

 

[Blah11]

Maternity crippled us and it'd gonna take us a while to get back to good. Just now we use our overdrafts as regular money and are at our limits at the end of the month. We have way more spare money now I'm back to work so after the year it's mission clear debts have decided not to go on holiday for this reason.

 

[Blah11]

We don't have any spare for savings either so if you have such a huge amount left over to save I wouldn't even bother worrying.

 

[Mrs R]

The reason we save so much is that our house is in negative equity... to the tune if about £90,000. It's soul destroying to think all those savings are just going to waste.

 

[emyandpotato]

Nothing

 

[emyandpotato]

Maternity crippled us and it'd gonna take us a while to get back to good. Just now we use our overdrafts as regular money and are at our limits at the end of the month. We have way more spare money now I'm back to work so after the year it's mission clear debts have decided not to go on holiday for this reason.

We do this too. Both me and OH have huge overdrafts. Thank goodness they're student ones and interest free until next year, though not sure how we're gonna pay them off before interest starts building up.

 

[lau86]

We don't have anything left either and we have good jobs. We spend money like water. If we were millionaires we'd still have nothing at the end of the month. We've both got overdrafts and no savings. We've got a mortgage though so at some point we'll have a house to give our children and possibly more savings when our children get bigger

 

[Abigailly]

Always less than we should have!! But we never live payday to payday. In fact, I don't know when I get paid. We put a lot away each month. And our savings are building up very quickly to buy a house out right once we sell this one.

But I used to be a single mum, working part time at a minimum wage job and pay day was never soon enough. The last few days I would pretty much stop eating to feed Niamh. All due to s ridiculous car I bought when I had plenty of money.

 

[LPF]

Before having a baby we had over a grand a month after all living expenses and this went on savings or holidays or nice things etc. (we were both full time and in professional jobs).

Maternity also took its toll on us financially along with work needing doing on our house and a lot of big things that came at once.

Now I'm back part time and have a large childcare bill any spare money we had has gone. If we are careful there is money left at the end of the month but months (like this one) where we spend spend spend....there is very little left. I think in this economical climate it's quite normal.

 

[cupcakekate]

It varies each month, some months we have next to nothing, other months about £100, rarely ever more than that though. My hubby gets paid different days each month, sometimes 5 weeks and sometimes 4 weeks so on the 5 weeker we tend to have abit more left over at the end. We don't save though but will be planning on trying to next year for a holiday xx

 

[staralfur]

-$12 this month.

 

[monkee12]

It varies for us really, some months we have 500+ left over, other months we are in the overdraft

 

[honey08]

overdraft were paid wkly and on ctc day were always minus something,then he gets paid fri so tht covers it, but theres like 3days we live off overdraft every wk x

 

[rwhite]

Not much - we live paycheck to paycheck. We both have debt and it doesn't help that I have a spending habit

After Christmas shopping is done with I'm hoping to clear the debt, start saving for a holiday. I'm hoping things will be back on track once debt is sorted, because that's at least $350 a fortnight I will have back from paying it off and can save that.

 

[monkee12]

We are paying out an extra £400 per month which will be sorted in a couple of months so that will be extra money for us.

 

[lucy_x]

We too live pay day to pay day - but i cant complain, we eat well, are warm and the pets get fed. We have a takeaway occasionally and a few days out a month.... Cant ask for more than that - it does get me down sometimes but i cant change it so it is what it is

 

[holly2234]

Pretty much paycheck to paycheck here too. We have a couple hundred left every week so if disaster struck we would be ok. But not so long ago we were at zero every week and still had things we should be paying for. So im thankful that we have what we do.

 

[lindseymw]

DH always has money left over each month, I however, do not. He does get paid 3x as much as me!

I have a small overdraft (£250) which is interest free, most months I'm in by the 20th (21st is payday), some months I'm in credit. This month I'm not due to buying Xmas & Bday presents.

 

[Rainbow82]

When we both worked full time we had about 800 left, 500 if which went to savings and the rest towards holidays etc. I'm only supply teaching at the moment and the pay from that seems to be taken up with fixing the car or something in the house, every month there seems to be something else so at the moment we have nothing left come payday. Haven't had to touch the savings yet though.

 

[lovehearts]

We have nothing left but only because we live on a budget so on payday a large amount gets transferred to our savings account. We have something specific we are saving for right now but come June the budget will be bigger and we will save less (although still save)

We have overdrafts that we may dip in to at the end of the month but not every month and we dont need them to live.

x