It’s like a parallel universe

[Imustbemad00]

Inspired by a few threads recently about money. Specifically money in London. I’m shocked at how many people seem to think you need to be rich to live in London (£100k per year is rich to me) and how many people think £100k is not a lot in London.
Why is this specific to London?Other than house prices?
Just to put it into perspective, I’m a single parent with 2 children living in zone 1 London. I take home £22000.
Admittedly, cheap rent at £650pcm. But we manage. Obviously we’re not well off, can’t afford fancy holidays, buying clothes for summer at the moment is a struggle, have no savings, can’t afford to decorate. But we have what we need, the occasional treat, short break
Most people I know locally are in similar positions. But I suppose people have a tendency to mix with their own kind.
I just find this ‘other london’ bizarre. The London where you need 100k to barely get by

[babysharkah]

And another one.

I'll bite. You 'manage'. I don't want to manage, I want to be comfortable. So that in London is 100k+. We're in that bracket but not rich.

[Imustbemad00]

I disagree. Massively. I get it’s all relative and depends on the lifestyle you are accustomed too. I know plenty of people who live near me, some more comfortable. None on anywhere near 100k. I’d be more than comfortable on a 30k take home. But I guess over time I’d get used to that, and then maybe if you asked me again I’d say I needed 40k.

[IvanaPee]

I think babyshark has it.

I’m very lucky, I know. But I don’t want to just “manage” if I can at all help it.

That’s not a judgment of you, OP.

I guess it’s just what you become used to? Cut your cloth to suit your measure I suppose.

£100k wouldn’t be that much to my family now. But it’s all relative, isn’t it?

The more you have the more you spend in some aspects; private schools, more expensive holidays, bigger houses etc.

[IvanaPee]

X post saying the same thing 😂

[Singlenotsingle]

You're just lucky, OP. Lucky to be able to afford to rent in Zone 1. I don't mean to worry you, but we hear about people getting moved out of their rented homes in London to let property developers build expensive apartments for rich people. I hope that doesn't happen to you. (Having said that, my idea of hell would be having to live in London).

[HomeMadeMadness]

I don't think anyone suggested you can't live off less than 100k in London - but you said 100k was rich and that's the point people are making. 100k sounds like a salary which makes you rich - that used to mean you could buy a nice house with a garden, pay for nice holidays and probably private school fees. As it is you can have a very decent living in London with 100k but not the kind of lifestyle you'd generally associate with being rich.

[Flyinga]

Zone 1 for £650 lol.

How did you swing that?

[Imustbemad00]

I have a secure lifetime tenancy so won’t get getting moved out. Although I’d love to move out of London.
I suppose everyone has a different understanding of rich. I’m not talking private jets and mansions rich.
But to me, 100k is ‘rich’ whether in London, or elsewhere. But as others have said, the more you have the more you spend, then suddenly you don’t feel so rich.

[WineCheeseSleep]

Do you mind if I ask what kind of place you rent OP? £650 in zone 1 does seem cheap.

[Nickpan]

well, that's a weird thread. £650 rent - is it a three bed place, or you all sleep in the same cardboard box!

But seriously, you saying you need £100K, but you are barely scraping by. I bet your kids haven't got their own rooms, and struggling to get summer clothes...

I think what you're getting at, is: you're happy with your lot. And that's better than £100k p.a. any day

[TinklyLittleLaugh]

Well obviously you have a very cheap rent. If you were paying market rates you would struggle on that salary.

[Imustbemad00]

It’s not private rented, social housing. Hence £650. 2 bedroom flat.

[Nickpan]

sorry, you're not saying that you need £100k, you're saying that people imply that one needs £100k

[Greeborising]

Weeeeellllll
I agree that 100k a year is not to be sneezed at.
I live in London and I too don’t want to just ‘manage ‘
I was born and bred here and love living where I do but, realistically, if my income wasn’t sufficient to fund the life I live I would move.
There are many lovely places to live in the UK
If you look at house prices, school fees (if you pay them) cost of hairdressers, cleaners, holidays etc etc etc then 100k isn’t going very far.
Now, before everyone pounces,
I’m very well aware that I am privileged
I know that I live a very opulent existence
What I’m saying is , I like my standard of living, and if I was struggling I would move.
London is ridiculously expensive

[Imustbemad00]

@Nickpan
What a strange reply

I’d rather have 100k any day. I get by, nobody goes without anything. We go abroad, just not every year. I have to budget and yes buying a whole new summer wardrobe is a struggle. But we’re not in poverty. Was just making the point that you don’t need heaps of money to get by in London. Although, as stated, I’m aware I have cheap rent.

[Flyinga]

Where you're living honey would cost about 2k per month for a 2 bed rented privately (conservative estimate).
You probably pay fuck all tax.
You probably get child tax credits, housing benefit, council tax support.
All in all, you're not concerned with private schools, a nice lifestyle etc.. So you can live cheap.

[Imustbemad00]

@Nickpan
Sorry cross post.
Think that was a misunderstanding.
I’d love 100k

[Nickpan]

thankyou, I meant well :)

[Flyinga]

I doubt you bring Victoria to cello lessons or Preston to violin either. I doubt you pay for much really. So yes, you can get by on 22k when you're paying fuck all out.

[Imustbemad00]

Why would I not pay tax or council tax am I missing something?
No I’m not concerned with private schools, I clearly can’t afford them and my children go to outstanding schools that I wouldn’t change anyway.
But @Flyinga you have understood my point. A person doesn’t need 100k to live in London. But people that do earn that much can afford private schools and lavish lifestyles which was the point I was making in the first place. Hence the ‘rich’ label.

[Nearlythere1]

OP, you've brought out all the defensive nasty rich people. I understand what you're saying though :)

[Imustbemad00]

@Flyinga I’m not sure I understand your humour. Or if it is indeed humour? Maybe it’s a class thing
My kids school actually do all the music lessons you mentioned and more. My kids would rather stick pins in their eyes. Mini Mozart’s they are not.

[Babyroobs]

Are you being topped up by Universal credit or tax credits though or is the 22k just earnings?

[LBOCS2]

But you do realise that your experience of living in z1 is not a standard one and actually, your world is the one which is at odds to everyone else's experience of life? There are no lifetime tenancies now. Social housing in London is like gold dust. So actually, to live the same lifestyle as you without any extras people who rent or own privately will need to earn not far off £100k to have something you take for granted and think they're bizarre for wanting or aspiring to be able to afford...

[Imustbemad00]

My experience is the same as many many people living in London actually. That’s why I titled the post parallel universe.