"We're on good money"

Good money to me is when you have a hefty chunk left after all monthly outgoings. It is all relative though. If you own your accommodation and live frugally, an average salary could be 'good money'. Generally speaking though, I usually think of 'good money' as starting from £10k net per month. I understand I am probably an outlier on this though.

I take it to mean enough money to pay their mortgage, have a good holiday, cover Christmas, days out, go for a meal, not fret about debt or count every penny.

Whatever that amount is for them.

I think it's relative. I earn very good money but my DP is out of work at the moment so if you divide what I earn by two it's a lot less good.

We’re on “good money” - just over 100k in the household. But I don’t think we reflect this. Cars are old, house is nice but a standard 4 bed (link detached, which according to another thread means it’s “just a semi”). 3dc are expensive though and they do lots of clubs.

I earn “good money” but bills + mortgage are still 75% of my income and food shopping takes up much of the rest. I’m comfortable but I don’t have a big savings cushion (I did, but it got used up in my recent house move) and I don’t have much truly disposable income. I think anyone earning much less than me must really struggle.

It's nothing to do with your outgoings.

What you earn, is what you earn.
Outgoings will always vary.

I think anything over 40K is good money UK wise, generally speaking. Although London may have to be taken out of the equation for that.

Another Londoner here. My salary is good money as my house is nearly paid for and my children are grown. My colleagues struggle massively.
I always think 35k + is ‘good’. More than average.

Lots of factors matter, how much you bought your house for and when.

How the income is balanced. You take home more if two people are on £45k each than a family where one earns £80k and the other £10k. Same earnings, very different take home.

Having to pay for childcare really impacts how fair that money goes.

Then there's taking into account financial gifts and inheritance. Both can make very average salaries feel "good".

Personally, if your housing costs are less than 20% of your salary, you can cover all your bills and save and have some discretionary money, you're bound to feel like your income is "good", whatever that is?

I'm Australian and I'm on 70K which is ok but not great, my husband is on around $135000K, and I consider his wage middle income here. The COL here is insane.

Similar to you op. Admittedly it's a bit down to where you live, £80k household is good in many places

Oh, I've confused the NMW with the average earnings - I watched a podcast recently which included this figure. Apologies!

Sorry *£10.42ph not £10.45

Where you live matters. I used to work for a huge organisation where all first level management were on roughly same salary which was pretty good for the time - about £45k in early 90s. Many of my SE colleagues had second jobs (bar work, cleaning etc) whereas I felt I was loaded (West of Scotland).

More recently, I've found our "disposable income" has rocketed since our DCs left home 😃

Minimum wage is currently £10.45 per hour. So full time, at 40hrs a week is £21,673 a year. The average UK earnings are £35k a year

Oh, how did I get this so wrong 🧐

I think outgoings are irrelevant. If you earn 200k but spend 199k a year that doesn't change the fact you're on good money, it just means you're spending a lot too.

I think it's very area dependent. We have a household income of 80k but we also bought our 3 bed semi for only £163k, it's a lovely little area but miles cheaper than somewhere like the SE. Wages are obviously cheaper here in comparison to down south but for our area we're on a very good wage.

@GeneCity Full time NMW for over 23 is about £22k.

£30 grand plus is good money to me

I take it as meaning someone who earns comparatively more that others that live in the same area. I've only had it said to me once by someone in a bragging kind of way, found it a bit cringe.

I think full time NMW is about £35k.

I think different people say this and probably mean hugely different things 😄. So it's not a particularly informative phrase.

It also depends on overall household income and number of dependents etc. It's worth noting that a couple on £50k each will have a higher income than a couple with one person earning £100k.

£35-40k minimum

I'm on roughly the same and after tax, pension and student loan payment I get about £400 take home more my husband who is on a hell of a lot less than me (and a hell of a lot less stress).. we earn around £70,000 household.

It's completely relative depending on where they live. Someone living in London on 50k is going to struggle more than someone on 50k in Durham.

Depends who's saying it and the area of the country.
I'm north west. I'd say 60k plus. I've come to realise though that people will say 'good money' for 40k (especially if it's a woman earning it) These days, 40k to 60k is 'decent money' But its not going to give you a higher earner lifestyle anymore, unfortunately.