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Now you have the cost of baby clothes, toilet roll, washing up liquid, shampoo, nappies, haircuts and all the other general stuff on top of that which I would also consider as survival items in a first world country.
Let’s say all of this if you’re lucky comes to £300.
Now you’re on £2,295 and you haven’t even done as much as treated yourself to a KFC.
In order to earn £2,295 per month you’re salary has to be 35-40k.
So you’re living a low quality of life, just getting by and earning 35-40k per year.
Now let’s add a holiday.
You want to go away for 1 week? Oh that’s at least £100 per month in savings.
Now let’s add unexpected expenses.
Your car gets broken into, that window is going to cost at least £200 to replace but you’re living pay cheque to pay cheque, where’s the money coming from?
Not insurance because you have to pay excess.
It’s coming from rainy day savings which should be at least £200 per month.
Now we’re up to £2,595.
But what’s that I hear, you want some new clothes for yourself, £50 per month extra.
Oh and ermm yeah I can’t go without my coffee, £2 per day, £60 per month.
Also I almost forgot to mention, I have these things called hobbies, I like to play video games, watch Netflix, go to the pub every now and then you know, just live a normal life.
Oh right so that’s another £200 per month then.
New total £2,910 for one holiday and a low quality lifestyle to feed 2 adults and a baby.