Single income household realistic
We have two young children (baby and toddler) and my wife currently at home with the two.
As life would have it, current is place too small and need to start looking at bigger house but there's just not much left to take bond.
I earn around R70k net but find this is barely enough to support a small household with intentions of a R25k bond being a stretch (current bond paid off).
We are quite frugal, having no debt, can only max TFSA of R3.8k and really nothing left over
see below montly spending:
| credit card | R 29 400.00 | |
|---|---|---|
| ESKOM | R 2 500.00 | |
| COJ (RATES AND TAXES) | R 3 500.00 | |
| WWCC (GROCERIES) | R 7 000.00 | |
| PNP (CONSUMABLES/GROCERIES) | R 7 000.00 | |
| FUEL | R 3 000.00 | |
| TAKE OUTS; WEEKEND ACTIVITIES (1K PER WKND | R 4 000.00 | |
| SUBSCRIPTIONS (NETFLIX, AMAZON, SPOTIFY) | R 400.00 | |
| ONLINE SPEND (TAKEALOT) | R 1 000.00 | |
| MISC | R 1 000.00 |
| DONATION | R 5 000.00 |
|---|---|
| LOAN CAPITAL REPAYMENT | R 1 000.00 |
| SATRX | R - |
| SATRX TFE | R 3 800.00 |
| DISCOVERY CREDIT CARD (WW HEALTHY) | R 3 000.00 |
| LEVIES | R 3 000.00 |
| CF | |
| DOMESTIC | R 5 000.00 |
| DAYCARE (THRICE A WEEK) | R 5 000.00 |
| FIBRE | R 1 000.00 |
| BANK FEES | R 300.00 |
| INSURANCE | R 2 000.00 |
| GARDENER | R 600.00 |
| OTHER | R 500.00 |
| TOTAL | R 59 600.00 |
I'm not looking for itemized budget review but just some perspectives.
We're finding the cost of living these days extremely challenging for a single income household.
Please share your thoughts/experiences with your households and whether or not R100k plus gross is really not enough to thrive in middle class lifestyle - or if we should seriously look at budgeting properly and going even more frugal.