Monthly finances for a single person and one child

[Kassee]

Does anyone have any idea of the monthly outgoings for one adult and one child living together in their own property with no mortgage. I have been asked to supply this information at short notice and I have no idea what I spend - on food, clothes, going out etc etc. Please could you let me know what you think - on a very tight budget - as we have very little coming in. But I havent a clue !

Thanks Kassee

[humpy07]

How can you afford to go out if you have 'very little coming in'?

[sherrardk]

Can't you quickly work it out - you must have some old gas and electricity bills, etc.

[Mamyalynne]

only you can work it out, we have no way of knowing your outgoings etc no mortgage but do you pay rent? Then theres fuel,water rates,Tv licence, Insurances etc

[momcj]

Have a look at some of your bank statements. For certain things like food/housekeeping you will only need approx average figure. You would need to work this out yourself. I mean depending on how old child is nappies/milk etc, they would bulk up a weekly shop. Then if you have a vehicle there is petrol/insurance/car tax/mot. If you do not have a vehicle bus fares/train fares etc.
My advice is have a look at old statements and then go through an average week in your head and do a list. Also take into account spend more on electric in winter (heating etc) average it all out over year so you have monthly expenses.
Hope this helps.

[sherrardk]

Don't forget to guestimate for things like birthday presents and school trips, etc.

[cazzz1975]

you are more likely to have a clue about your outgoings than us, your bank statements should hold most if not all the in and outgoings

[Kassee]

bank statements no good - I'm afraid - always just work in cash - no direct ndebits. I know how much my bills are - its other things - like food. I havent a clue - clothes - i hardly spend anything. But I must calculate what - havent a clue

[sammmo]

go to citizens advice they will help you ..take as much information as you can eg bills and receipts..write down a typical shopping list for the week and go to the supermarket and price it up..don't forget to add things like television license.. school uniforms etc for eg school uniform £50 per year or £1 per week.. ask other women what they spend per week it will all help you come up with a figure..

[Kassee]

Thanks for all your help - I though I could look it up on line to get a view - but cant find anything

[marksantinor]

One of the best ways to keep track of your spending is to keep each income and expense record. If you can create a budget sheet from scratch then you may use printable budget spreadsheet templates which will help you to increase your savings. You may find this source helpful for creating a budget.
https://www.buraqprintables.com/budget-templates/