High earners - how do you spend your salary?

Wisely.

Clearly this is an offensive post, when some people are literally starving. It's either obtusely insensitive or deliberately cruel, as are those who blithely comment. This is a question for a money forum or financial advisor. People are entitled to state it is unreasonable. And obviously many carers work much harder than lawyers, but we don't value their compassion. There is an argument for lawyers to be replaced by AI, eliminating human error. There is no argument for replacing carers in this way, the skills of empathy can not be artificially conveyed, therefore carers should be valued more.

@Robinni

What perceptions?

I'm not aggrieved. I cant remember what comment it was that I first replied to now but it was about social politics and not the op. Plenty of others have hone off topic.

A load of well off people congratulating each other on how they spend their money would be particularly boring

@Topgub

If you are not from a wealthy background, and you do not work in a high earning field, where have you formed these perceptions and how can you be sure of their accuracy on a broad scale?

If you’re not a high earner and are aggrieved for whatever reason I don’t understand what you’re doing being on this thread and Turing it into a social argument. It’s completely off topic.

@Robinni

Who is filled with hateed or tearing anyone down?

In context your post definitely read like you were saying higher earners should be patted on the back for doing well. Not everyone.

Lots and lots of people (myself included) work much harder than lots of higher earners.

Being a higher earner doesn't have much to do with hard work. (Not to day higher earners dont work hard, some do but do do lots of people)

Our society just values the wrong things

@Topgub

I am saying anyone who is successful - in any manner deserves support. Well done to you for being happy in life.

I don’t understand why people are filled with hatred and feel the need to tear others down.

I do not want to go into my personal circumstances other than to say that I put myself through Uni, availed of the very many grants, loans, hardship funds etc that are available for all those who are struggling. Luck had nothing to do with it. I was determined and sacrificed other things to achieve what I wanted.

Anyone who has done well for themselves deserves a pat on the back. If people are unhappy with their lives there are ways to change it.
If you are of the opinion that you are a certain category it becomes a self fulfilling prophecy.

You do realise that many people work hard to change their lives (or even just to stay afloat) but are hampered/limited by all sorts of circumstances that hold them back from getting where they want to be, I take it? You make it sound like anyone who hasn't successfully moulded their life into what they want it to be must just not want it enough/be working hard enough for it.

Also, what about people who have done well for themselves but have had it all handed to them on a plate and not had to struggle for it? They don't particularly deserve any special accolades in my book.

@Robinni

Why do people who have 'done well for themselves' deserve a pat on the back?

They've not worked harder than anyone else they were just lucky.

We also shouldn't be measuring success by wealth

I've done very well for myself. I'll never earn a high wage because its not a priority for me.

They could better spend their money by rounding us up and giving us all a bloody good spray wash using dettol or some such so we can clean up our act. This would certainly solve the ills of society. All of society's problems are caused by us at the bottom of the shit heap, you know, the great unwashed.

This thread has gone bonkers.

Personally interested as thinking of future investment and humming and hahing over private school so was informative for me and happy to help others.

Anyone who has done well for themselves deserves a pat on the back. If people are unhappy with their lives there are ways to change it.

I have had times in life in 5* hotels and times where I had to watch every penny. If you are of the opinion that you are a certain category it becomes a self fulfilling prophecy.

Agree on cancel culture. Takes things too far.

Sorry to bother you @JenniferPlantain but I would you mind returning dh before the monthly hunt please? He needs to look after the kids so I can go out and verbally mob high earners.

Please think of the bairns. Will nobody think of the bairns?

That is quite an important issue raised above and is part of a huge debate around cancel culture and what people can say if one person might be upset by reading something. I hope MN remains a place where we can post things even if that happens to make someone upset. We really have gone far too far in some schools and universities in having to give trigger warnings because a Shakespeare play might upset someone. What happened to the old play ground saying "sticks and stones might break my bones but words will never hurt me" ? Stick fingers in ears or don't read things that you don't like. It is the same on the trans issue - employers and others but thankfully not mumsnet trying to stop women talking about rights for women when up against trans rights.

Also it is very interesting knowing what people spend their spare money on. The fact we may not all be on the absolute breadline at present is simply a fact.

In my experience, people don't really discuss how they spend their disposable income at work in any detail.

Not surprised. A lot of people do still consider it vulgar to discuss their personal finances, OP.

Also not everyone is a MN expert! I only started posting recently as got covid and bored out of skull… no clue about all the boards available and how everyone is so sensitive over board etiquette.

Op if you want it moved to another area click report on your original post and ask Mn to do this, for the sake of peace.

@Merryclaire

I also find it odd that you have been asking about the cost of private school ski trips and music lessons when you say you aren’t planning to have kids for a few years - how does this bear any relevance on what the cost will be and whether you will justify the expense of a class ski trip 15 years from now?

A private school education is going to cost per child 35-105k in prep and 84-315k secondary level. You’re probably talking another circa 5-10k per year on uniform m/extra activities at well. Op is in the wage bracket where this would definitely need to be budgeted for and the value weighed up against other things, especially if they live in an expensive area to start with.

FYI school ski trips start at about age 7, not 15. That is the age you might be offered a ski trip at a state school. The parents often go with in the early days, so the cost can be quite high. Primary kids ski to school in Nordic countries!

I think those who don’t wish to look at people discussing salary priorities and long term wealth planning/building need to scroll on. If the subject doesn’t concern you and you’re going through financial problems why upset yourself further 🤷‍♀️

I’m actually beginning to question whether you are a genuine poster, who genuinely earns a lot of money, who is genuinely looking for money advice.

Our take home is a bit more than you, OP. We don't live an extraordinary life really just a really lucky one.
The majority of our income comes from a self employed business and 20% from PAYE so our set up is different to those purely PAYE. Typically each tax year we leave £40k in the business account as a buffer, we recently used a huge chunk of this buffer to buy a home for my parents to live in. My mum has health issues so it was important to ensure she had a comfortable home fully adapted for her needs, something she couldn't obtain otherwise. This was purchased by the business and didn't come our of our take home pay at all.
We we're considering buying another property to rent out commercially.

A huge chunk of our salary goes on house renovations, we bought a dump and have turned it into a home over 3 years. We've just finished now so we'll use that money to chip away at our mortgage and put some towards our pension. The rest:

Mortgage payments.
Childcare (we have a second child on the way so this will double).
I have a car on PCP, OH has a car via the business so we have no personal expense for his.
Holidays, we go on two 2 week holidays a year which are abroad (we often take one of our parents and pay for them) and then 3-4 weekend breaks either in the UK or in Europe.
We eat out as a family quite a lot, once or twice a week and spend quite a bit on wine and entertaining.
Clothes are all high street brands.
We have a cleaner, gardener and our cars are valeted monthly.
Food is from Aldi or Tesco.

We do spend money on upgrades such as meet and greet at airports, or private transfers.

We're very lucky to not have to think about what we spend which is a huge contrast to my upbringing and my early 20's, there would be days where I would skip eating as I just couldn't afford it. I've no interest in anything designer or flashy. Main priority is a secure home then we'll save for our children's university fund or deposit.

So are you saying that the posters on here who are not appreciating the burdens and choices of the wealthy with a cheery smile and supportive hug are affecting your mental health and well-being?

*Lol. Rich people need a VIP area where they're safe from scrutiny.

Mate, you're literally describing how the entire world is organised and it's still not enough for you.*

👏🏻

Isn't there a Money Matters place on here or something similar? Why not post there?