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Original poster

High earners - how do you spend your salary?

988 replies

Citygirly · 21/05/2022 10:03

DH and I earn just under £140k combined.

We do maximum pension payments (his is 9% as NHS) and we also give about 10% a month to charity.

Other than that, we plan to start overpaying the mortgage. We invest £1k a month (so £500 each) and save £1k for holidays. We of course do general/specific savings but then have a good chunk left over for disposable income.

AIBU to ask other high earning households how they tend to allocate their money? Just want to see if we could be using it better or this is about right for comparables.

OP posts:
Original poster
Citygirly · 23/05/2022 14:07

@User48751490 we aren't rich. We don't have lots of assets and/or cash in the bank. We have only started earning this amount recently and that is the reason I am seeking advice. We don't come from money and are trying to manage the money we have started to make in our careers well.

OP posts:
User48751490 · 23/05/2022 13:54

lancsgirl85 · 21/05/2022 18:14

It's something we really enjoy and I think it's really important to have as we make lovely memories and get a good break from our stressful and time intensive jobs.

Yep. Pretty much applies to most of the population I'd say.......

Yep. Not unique to rich folk...

orwellwasright · 23/05/2022 13:50

toogoodforthisworld · 23/05/2022 12:35

we bought a small apartment in Bulgaria with the money we had saved as an investment (so its mortgage free (was 25K - amazing) same for the Spain house (95K). both countries are really good value at the moment. Look at coastal areas though if you want to rent it out. I also pay max extra contribution to pension. but i want to retire earlier hence the extra houses for rental income.

Aah, lovely. Second home owners and private landlords have completely fucked the UK's housing market and are on to other countries now.

CaliforniaDrumming · 23/05/2022 13:47

Nothappyatwork · 23/05/2022 10:14

Earning your own money is massively overrated as you’ve all demonstrated here, your actual wealth does not come from your earnt income it comes from stocks shares, Isa’s, property, basically you earn money off other people‘s efforts so please do not come back and try and imply that it’s all your hard work… you literally know nothing of that … come on.

Show quote history

Yes, beginning to think this should have been in Money. Earning your own money is overrated. Right.

Nothappyatwork · 23/05/2022 13:40

Indigoo03 · 23/05/2022 12:52

I really enjoyed the tips around tax, pension and salary sacrifice so would to thank those posters. Appreciate not everyone has these options nor spare cash to action this though truly hope they can one day soon.

Then we can all pay less tax together … wonder how society will look in that event 🙄

Realitysucks · 23/05/2022 13:23

Mortgage, bills, childcare and I’m still skint we are on a bit less than you but our childcare is crippling !

Indigoo03 · 23/05/2022 12:52

I really enjoyed the tips around tax, pension and salary sacrifice so would to thank those posters. Appreciate not everyone has these options nor spare cash to action this though truly hope they can one day soon.

toogoodforthisworld · 23/05/2022 12:36

Citygirly · 23/05/2022 12:19

We are getting a cleaner within the next couple of months as we genuinely don't have time to clean.

We are going to get some swimming and tennis lessons to help us improve which will be fun and I also do yoga. Spending on these kinds of things is important to us as enjoyable but also good to keep active!

Yes, we do love holidays and think that they are beneficial in many ways!

Show quote history

yes - I agree - a cleaner is fab and I have an expensive sport membership so I can swim daily in warm water and do yoga for free.

toogoodforthisworld · 23/05/2022 12:35

we bought a small apartment in Bulgaria with the money we had saved as an investment (so its mortgage free (was 25K - amazing) same for the Spain house (95K). both countries are really good value at the moment. Look at coastal areas though if you want to rent it out. I also pay max extra contribution to pension. but i want to retire earlier hence the extra houses for rental income.

Original poster
Citygirly · 23/05/2022 12:19

bridgetreilly · 23/05/2022 11:39

Work out


  1. What are the things that genuinely improve your life, e.g. cleaner/gardener/better commute etc. and spend on those so you get to enjoy family time, hobbies etc.

  2. What are the things you personally really love and can afford to treat yourself to, e.g. art, holidays, horses etc.

  3. How much you can manage to save/invest/put in pension fund.


Budget for those. Don’t waste money on things that aren’t important to you.

We are getting a cleaner within the next couple of months as we genuinely don't have time to clean.

We are going to get some swimming and tennis lessons to help us improve which will be fun and I also do yoga. Spending on these kinds of things is important to us as enjoyable but also good to keep active!

Yes, we do love holidays and think that they are beneficial in many ways!

OP posts:
Original poster
Citygirly · 23/05/2022 11:51

@Bex000

Thanks so much for your helpful post.

We live away from London even though I work there so we can be close to both sides for help with childcare. Both grandparents have agreed to do one day a week each and are happy to come to our house on their day. I would ideally go down to 4 days so then nursery only needed for 2 days. DH also happy to drop a day if he needs to but hope that's not necessary.

This is my philosophy with fashion now. I would really like to spend responsibly on sustainable fashion and pieces that will last.

We are investing for next house now and will put amount up soon and keep putting up as pay rises allow. We need to build a decent deposit as don't have family help to fall back on so even though we can borrow quite a bit, we need to ensure we have that capital to put forward.

I would like to start buying luxury items as have not yet but have my eye on a few.

I have a reasonable car (second hand) and DH's is about 10 years old. We wouldn't buy new cars for the reasons you've stated.

Thanks again!

OP posts:
gotthis · 23/05/2022 11:47

JenniferPlantain · 21/05/2022 12:21

We buy poor people and once a month we release them into a field and hunt them for thrills.

Great fun, but they don't run so fast now they are actually starving, unfortunately.

bridgetreilly · 23/05/2022 11:39

Work out


  1. What are the things that genuinely improve your life, e.g. cleaner/gardener/better commute etc. and spend on those so you get to enjoy family time, hobbies etc.

  2. What are the things you personally really love and can afford to treat yourself to, e.g. art, holidays, horses etc.

  3. How much you can manage to save/invest/put in pension fund.


Budget for those. Don’t waste money on things that aren’t important to you.

Bex000 · 23/05/2022 11:38

lol after this super long thread not sure if poster is still watching, but in terms of advice as I am now mid 40s.
You will never have this level of disposable income again so use it wisely. Areas I would suggest:

  1. put savings aside to allow for maternity leave/ p/t role. In high intensity careers you will either need full time nanny/ incredibly supportive family or one of you will have to take a back step on the career front, so talk about this now and look at costs and save appropriately.
  2. think about pensions now and use tax allowance.
  3. max out S&S savings every year.
  4. don’t waste money on cheap fashion and high street clothes. Buy a wardrobe of more expensive high quality classics that will last a lifetime. I wasted huge amounts of money on cheap going out clothes in my 20/30s most of which I gave away or went to charity shop so saw no return. I probably could have paid off half my mortgage with what I spent now!
  5. start investing for next house move and time it well (hopefully when there is a downturn).
  6. if you want to splurge invest in high end luxury goods which will increase in value but you can enjoy in meantime or pass on to children (watches, classic chanel/Hermes handbags, good jewellery)
  7. don’t drive expensive cars , they lose money as soon as you leave the forecourt and no matter how careful you are they get trashed. As you say spend on what matters to you e.g holidays/experiences and avoid lifestyle creep as your income increases.
orwellwasright · 23/05/2022 10:54

Nothappyatwork · 23/05/2022 10:14

Earning your own money is massively overrated as you’ve all demonstrated here, your actual wealth does not come from your earnt income it comes from stocks shares, Isa’s, property, basically you earn money off other people‘s efforts so please do not come back and try and imply that it’s all your hard work… you literally know nothing of that … come on.

Show quote history

Indeed. We have huge wealth inequality and poor socially mobility. Encouraging our daughters to marry rich men isn't the solution.

lancsgirl85 · 23/05/2022 10:28

It’s okay, you weren’t privately educated, you’re not in the club, you wouldn’t understand

😂 OK. I assume you're taking the piss.
@Nothappyatwork

Robinni · 23/05/2022 10:28

Nothappyatwork · 23/05/2022 10:14

Earning your own money is massively overrated as you’ve all demonstrated here, your actual wealth does not come from your earnt income it comes from stocks shares, Isa’s, property, basically you earn money off other people‘s efforts so please do not come back and try and imply that it’s all your hard work… you literally know nothing of that … come on.

Show quote history

What?!

The actual investment money comes from hard work…. Then you have to have good sense as to where to put the money, build wealth and maintain it. For instance investing more hard earned money into property, dealing with tenants etc.which is no picnic. Depending on the portfolio it can be considered a second job. Or insuring your money is pulled and moved as needs in shares and not being a complete numpty.

Other people’s efforts pfft

BellePeppa · 23/05/2022 10:25

Nothappyatwork · 23/05/2022 10:14

Earning your own money is massively overrated as you’ve all demonstrated here, your actual wealth does not come from your earnt income it comes from stocks shares, Isa’s, property, basically you earn money off other people‘s efforts so please do not come back and try and imply that it’s all your hard work… you literally know nothing of that … come on.

Show quote history

Don’t you need the money in the first place to do all that?

Nothappyatwork · 23/05/2022 10:23

lancsgirl85 · 23/05/2022 10:20

Earning your own money is massively overrated as you’ve all demonstrated here,

Say what? 🤔

It’s okay, you weren’t privately educated, you’re not in the club, you wouldn’t understand

lancsgirl85 · 23/05/2022 10:20

Earning your own money is massively overrated as you’ve all demonstrated here,

Say what? 🤔

Nothappyatwork · 23/05/2022 10:16

orwellwasright · 23/05/2022 10:12

Really enjoying the idea that the mark of a happy and fulfilled life is 'always being beautifully turned out'.

You might be a vapid, conniving, friendless cunt but you've got a lovely frock on so all is well.

They are friendless cunts to be fair, I was just trying to look for something positive to say about them.

lancsgirl85 · 23/05/2022 10:14

orwellwasright · 23/05/2022 10:12

Really enjoying the idea that the mark of a happy and fulfilled life is 'always being beautifully turned out'.

You might be a vapid, conniving, friendless cunt but you've got a lovely frock on so all is well.

😂
Laughed a bit too much at this.

BellePeppa · 23/05/2022 10:14

orwellwasright · 23/05/2022 10:12

Really enjoying the idea that the mark of a happy and fulfilled life is 'always being beautifully turned out'.

You might be a vapid, conniving, friendless cunt but you've got a lovely frock on so all is well.

You only have to watch an episode of the Real Housewives franchise to see that’s true😁

Nothappyatwork · 23/05/2022 10:14

orwellwasright · 23/05/2022 10:06

Are your daughters also too thick to earn their own money like these trust fund recipients?

You've managed to be really offensive about at least four kids here.

Show quote history

Earning your own money is massively overrated as you’ve all demonstrated here, your actual wealth does not come from your earnt income it comes from stocks shares, Isa’s, property, basically you earn money off other people‘s efforts so please do not come back and try and imply that it’s all your hard work… you literally know nothing of that … come on.

orwellwasright · 23/05/2022 10:12

Really enjoying the idea that the mark of a happy and fulfilled life is 'always being beautifully turned out'.

You might be a vapid, conniving, friendless cunt but you've got a lovely frock on so all is well.