"We're on good money"

£98k is a take home of over £5k a month. If all your outgoings are £2300 then you have like +£2700 a month disposable cash. That’s huge by any stretch of the imagination

I posted above my situation (single parent and I earn £95k) but I have huge outgoings cos I have a mortgage and kids at uni. I have a few hundred disposable a month after all my outgoings. I can also see how having a few hundred left at the end of the month would be a massive massive blessing to a huge number of families who have nothing or less than nothing at the end of the month.

just goes to show how the definition of ‘earning good money’ can have very different meanings depending on your outgoings ❤️

I tend to think it's 'good enough' money for the poster's lifestyle.

I do think it depends. Eg 70k with 1 lots of childcare could be tough. Or living in London.

For me to say "good money" I'd say both incomes to be around £60k.

It's all relative. I earn 30-40k but barely spend a third of that on outgoings. Northern town, mortgage almost done, no childcare. I have friends whose mortgages are half that.

Depends where they live.

The north i’d agree.

London, probably not

I think it’s relative too. I’m on 55k in the north west little towns where housing is relatively cheap. Live with a partner on 40k so by some people’s standards it’s “good money.”

In order to earn what we do though, we work long hours (45-50 hours typically) and so rely heavily on childcare which for wraparound for two kids is costing 550 in a typical month. Plus the kids aren’t my partners so while we split bills and food etc equally, I cover all of the uniform, childcare, school trips etc.

we live in a nice but just “normal” theee bed house that cost us 260k but our mortgage recently increased by 25%. I’m also STILL paying off student loans at 37. I also contribute to a pension scheme so my take home is about 2850.

once my kids are in high school and my student loan pays off, I will likely have an extra 700 a month, so my 55k might feel like good money then but just now it feels like ok and managing money.

Really depend on the outgoings. We are a 3 person 👪 family, with a combined annual income of approximately 98k, mortgage paid off. Our monthly outgoings is about 2300/month. This includes the usual bills, food, eating/days out, after school clubs and activities, holidays, birthdays and saving for the 8 year old. I don't feel we are on good money as I still need to budget monthly and keep tabs on our spending, bring pack lunch to work and make the most of offers when buying groceries.

I tend to assume the phrase when posted on here is used by people who aren’t particularly high earners but earn a bit more than the statistical mean.

Definitely relative to outgoings.

I worked with a NHS surgeon (also had a private practice), he was married to a London based psychiatrist, their household income must of been quite high but he was constantly skint. 4 kids in private school, 2 very nice cars, large house in a sort after area and constant trips away.

We have a household income of around 40k but are doing ok(ish) because our mortgage is very low and so to are our outgoings (ie we are boringly sensible).

We would live a very comfortable life if we were on 60k+, which we could probably achieve if I worked full time (currently work 12 hours per week) but I have health issues. It’s a vicious cycle as I could probably get the health issues under control if I worked more and could pay for private healthcare and therefore earn the extra money etc.

Surely it will depend on area - what good here won't be in London or even south east - and industry.

You can be on good money in some industries ( thinking heritage sector as one child is wanting to go into it ) and struggle to have a good standard of living.

Then personal circumstance will affect how you feel out your income ie high mortgage or kids.

We live in quite a rural town and here anything over £35k ish is considered a good salary. But we have low outgoings- there isn’t much to do except country walks and the occasional day out to the nearest city (60 mile round trip). My dh earns less than that but walks to work. We don’t spend much. Own our home outright as downsized from London. It’s completely dependent on so many things isn’t it.

It's all relative. A couple of years ago we were circa £70k, low mortgage rate, one child but no childcare costs. We had a really comfortable life, didn't have to worry at all. A redundancy, a failing business and the cost of living got involved and now we're nowhere near that with a much higher mortgage and it's rubbish, but compared to some we're still better off.

Also depends on your age, so if you've been working for 30 years, making your way up the ladder, your idea of a good wage would be different from a younger person just starting out.

Depends personally on situation, for example 40k for a family household with multiple kids. Not good money. 40k for a single person, good money

Id say anything above 50k a year is good money.
over 100k is great money and over 150k is Rich rich Money 😂
my household is about 37200 a year for 2 adults 2 children and we have enough BUT we don't get any luxuries for that, we don't go on holidays or out to eat and events, we don't buy new clothes every month and i get my hair done every 2 years. BUT we don't struggle and i could save a few hundred a month if i was careful with other bills ( food bill is the most expensive due to a specific diet my child and my husband has to be on)

When I hear that I instantly think £35k+ each.

It depends where you live, if you have kids etc - I’d say it really varies. If you’ve only ever been on 19k then 30k would feel massive but someone else on 60k may disagree.

Totally agree with previous posters when they say all relative to your outgoings. I ‘make very good money’ and I’m a single parent and have to pay a £1500 mortgage every month, (south east) several hundred pounds for my kids uni costs a month, £800 train travel a month to work, then all household bills/food/utilities etc

im not struggling, I totally admit that, but I don’t have many luxuries outside of what I have to pay out every month; I’ve leased the same car for the past 7 years (just a qashqai), I use my parents house in Spain for holidays (so that’s very cheap).

there is a perception on that salary that you’ll have a driveway with a Porsche, luxury Caribbean holidays etc etc. my house is in not a nice part of the south east or in a nice road but when I brought it 7 years ago it’s all I could afford.

I have friends who earn a lot less but who are much further ahead with their home ownership journey or have already paid their mortgage off. I think that makes a huge difference.

I am looking forward to the uni costs finishing and, over the years, my mortgage decreasing. That wil give me much more breathing space

Just over £100k household income here and I'd say that's good money. But I'd also say an individual on £45k+ is good money and household income of around £80k+ is good money.

Actual sums are IMO pretty meaningless unless you know someone’s circs and where they live - very expensive housing costs, or not.

You're also penalised for being a single parent. 2 people earning half your income each take home far more and still keep CB.
No figure comes into my head OP because it's all relative. The 'least' I'd expect is 50K in a very cheap part of the country.

Yes, it's absolutely relative to outgoings. My salary is about 78k, which I always thought was really great money, but with interest rate hikes my mortgage repayments are now over 40% of my take-home, which has moved me from having some money to put into savings each month and seeming to have enough for whatever I needed, to not having much financial wiggle room at all. I'm a single parent and while I wouldn't say I'm struggling, after childcare and other non-negotiable bills, there's definitely not money to spare for bigger outgoings and I've been consciously looking for places to cut down a bit more. I'm not worried in the long run as my mortgage is paying for a nice apartment and I'm paying into a good pension, so I still feel that my financial situation is good, and I absolutely chose to buy an apartment at the upper range of what I could afford - but tbh the COL and interest increases took me by surprise - I hadn't expected in my mid 40s to be feeling the financial pinch I did in my mid 20s.

Surely it depends on outgoings?

You could be on good money on £30k if your outgoings are such that you have lots left over after bills are paid

Completely context dependent and on here I just assume people mean they should be able to afford the thing under discussion. So if someone was talking about struggling to afford groceries despite being on good money I’d make different assumptions to if they were talking about paying school fees.

I honestly never know what people mean. I wish they would be specific.
Especially on here, where we're all anonymous!