Is £717.68 a lot of money to spend in a month?

Question

For a single male aged 25.

This sum includes food but does not include things like rent and fixed payments i.e insurance, parking space.

This includes all food for one person, drink, going out, dvd's and CD's, alcohol, transport i.e petrol and buses, cigarettes, magazines, etc etc.

Basically this is personal spending money.

Is this excessive or normal?

In American money is is about US$US$1,400

How can you possibly live on £200 a month and eat??

How do you afford petrol, and everything else?

I am living on this and this is me trying to SAVE!!! Oh dear.

Answer 1

It is only a lot if you can't afford it.

Answer 2

That's quite a lot of money to spend on just food and recreation. Shouldn't really exceed £500. Are you going out for dinner rather than eating in? Maybe you should invest in a cook book and try to do something at home - it helps if you've got a clean kitchen and all the utensils you need - you can invite some friends round and have a meal at yours - ask each of them to bring a bottle of wine. This should cut down on some of your costs. If you buy a lot the same magazines regularly you should subscribe - you can usually save up to 25% on them this way. Start buying more CDs on line - or during the sales - HMV has always got sales on. The same with DVDs.

For cigarettes - see if any of your friends are going on holiday soon - ask them to get you some - Spain and Italy it only costs 3 or 3.50 euros - that's about £2 for 20 cigs, so a carton usually cost about £20 - even better from Poland its only £15 for 200 cigarettes.

Answer 3

If you have no reason to save money, and you can affoard to spend this amount of money every month without going over drawn or using credit cards etc to supplement this figure, then thats absolutely fine I see nothing wrong with that.

Me and my man have £1200 to spend after we have paid all the bills loans credit cards mortgage childcare, policies, shopping, petrol, etc etc, that sounds like a lot but we stilll manage to spend it all on crap (mostly me and impulse buys lol).
If youve got it spend it you cant take it with you.

PS If you have so much spare cash may be you should think about investing in your own property, while the prices are still fairly reaonable, in ten years time you will make a substantial profit.
I wish I had done the same when I was younger instead of just fritting my money away each month.

Answer 4

And it does NOT include rent? Wee hoo that's a lot of money to be blowing on stuff other than the basic necessities. How the tweet much do you make? It is extremely excessive. My husband and I together spend about $500-$600 a month on personal spending.

Answer 5

it's a little excessive but as long as you have enough money to pay your bills etc and don't have any debts then it's your life, you earn the money so you should enjoy it.
I'm a 25 year old female and I wish I earn't money that I could go out and enjoy myself like that. But with the cr@p wages I earn at this cr@p company I work for I'm lucky if I have £150 to myself after I've paid all my bills etc per month.
Enjoy it while it lasts, you can't take it with you when you die

Answer 6

It really depends on what your total income is! If this makes up say, 60% then, yes, it is quite a bit. If it only makes up 20% then no! Personally, I think its not too bad as you have transport costs in there as well. Also you are young and single and you gotta live!

Answer 7

It depends really on what you want. If you want to look good and have nice everything then I think it may be a bit over but not that much but if you are a person that doesn't like the latest stuff then I think it is. Anyway its up to you to decide if you are really spending too much money.

Answer 8

Um, sounds like MY outgoings and I share with my hubby! Whoops..... I acnt help it tho! My pounds get bored in the bank, they want to go play in the shops lol! As long as you can afford it and youre not going without the essentials, such as food and bills, then spend away. Good luck saving :O) xx

Answer 9

If the person can afford to spend that kind off money on luxuries then whats the problem ..

Answer 10

My monthly outgoing was £1548 to be exact in March.

I am female and 25 too. So no it is not too much. As long as your income exceeds/matches your monthly outgoings then you are okay.

Answer 11

Excessive. But nice to know you can afford to spend so much on things which will end up offering you nothing. Would be lovely if I had enough to be able to spend anywhere near that amount but afraid my limit is £3.50 per week.