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How much would you say is enough to live off a week?

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Could you give a rough breakdown of the £5 you spend on food?

don't aim to spend £5 on food, you need £20 a week to have a reasonable diet

I would say you want at least £50 a week to live on, plus leaving £200-400 aside for 'emergencies' during the year - although obviously the more money you have the better as you'll be less likely to make financial mistakes

Reply 21

niteninja1

My budget.

£10702
-£5240.20 rent

Leaves me with
5461.8 divided by 38

143.73 a week

-35 for food and drinks and toiletries (not alcohol)
-7 for phone contract
-20 a week for travel

Leaves me
£81.73 a week

I also have 4.5k in savings

Reply 22

Rakas21

After Rent and Bills you can make an allowance of something like (per month)..

£100 - Food and Toiletries
£100 - Travel (some of you may not actually need this though mine is actually £120)
£100 - General spending (night out, cinema ect..)

Your toiletries budget can be done in one big shop and at £20 most of it will be taken by washing powder, decent hair gel and decent deodorant. I also buy a months worth of cereal and tuna to take care of most of my breakfast and lunches for the month. That still leaves about £17 per week for food though.

I'd try save anything above that. My own savings threshold (i'm in work having graduated uni), is £800. Anything above that will go into savings.