To be in this job and feel poor?

@Tooomanynames I bet that never crossed their mind!

Or maybe there are reasons someone can’t work more hours and hasn’t been able to get a better paid job ( despite many many interviews, voice of experience ).

Then work more hours or get a better paid job….

We pay £102 each month gas and electric combined for 3 bed semi. Heating comes on if less than 18 but if feel cold we turn it up. 3 of us full time at home and one at university here for holidays. We've got about £350 credit on our energy account so thinking of lowering direct debit or getting a refund. We spend maximum of £200 a month at supermarket though we do look for deals.

Dd2 is almost 31 and went to university in 2011 - she paid the lower tuition fees. That went up in 2012. She has paid back her student loan.

I moved away from the expensive SE for a more affordable life. What is a basic deposit elsewhere, bought me a house here. I'm mortgage free in my 30s. I'm a single mum, have a degree, work a minimum wage job, have some savings, have disposable income, don't own a car, zero debt.
I would feel wealthy at over 50k.

Life is what we make of it. If I wanted to feel poor on 100k, there's plenty of places I could go to, to make that happen too.

@educationalpsychology
I think it’s a sign of our times that a single person on a ‘good’ salary is struggling to pay the mortgage alongside other living costs.

38k would be 'good'
58k is 'whopping'

I feel you OP. Yes you have a solid future a head, but you made sacrifices and are expecting a payoff at some point.

I really think that student loans are bollocks, and I hope that Gen Z and Gen Alpha don't swallow the bullshit that you need a degree to be successful. If they want a degree you can still take it at 25.

Congratulations on working so hard, and I hope you will be able to enjoy life without the "fear" soon.

You are being unreasonable. I have more training years under my belt and my pay is tiny compared to yours. Your salary is massive compared to the UK average, which is low to mid 30k. How can you be struggling on a whopping salary?

Is it possible that you are trying to live beyond your means? I see lots of people these days driving large and expensive cars. I only drive small cheap cars.

So sorry to hear you’re struggling @fedippp. I think it’s a sign of our times that a single person on a ‘good’ salary is struggling to pay the mortgage alongside other living costs. Really tough…
Can you possibly get financial advice or other help? Like from any professional organisations or unions you’re registered with, or from Citizens Advice, or family/friends?
And how many bedrooms is your house? Is downsizing possible to reduce mortgage payments?
Also, if you don’t mind me asking, when you say you trained for seven years, is your field educational psychology? Thinking about my own future. Thanks.
I really hope things change positively for you soon.

Some posters are so incredibly rude and bitter, and it makes me so angry! Imagine being in the top 9% and still having not much to show for it. The OP is allowed to be upset by this.

Times are really tough for most people. That’s the reality of it. It’s not a race to the bottom. I can sympathise OP, things are so expensive and money feels like it doesn’t go far at all.

Downsize to a 1 bed if you can, or partner up with a friend or lover to split bills. Could you look at moving jobs, contracting, or doing some side work?

Lots of Solicitors self fund, only really big firms tend to pay and many Solicitors won’t reach high salaries. Local government lawyers, government legal service to add to your list.

That’s not standard though, most will aim for a training contract where the firm pays for that. Also 58k unlikely to be ceiling at OP’s age in a legal career. Unless high street/ legal aid.

It's really about expectations. If you thought £58k was going to afford you the ability to own a decent home in a nice area, have a new car, buy all the clothes you need, eat all the nice food you want, do all the fun things you enjoy etc then of course you are disappointed to find out that you can't.

I think most people are more realistic from the start and realise that they would need 6 or 7-figure salaries and/or a big inheritance to be able to achieve that. If that level of income is not a possibility, they will adjust their expectations instead. This is why many people are much happier with much less.

I can understand why your feeling disheartened. That's a dreadful increase in interest rates & with a huge student loan to pay back just be proud of yourself for managing so well so far. My first thoughts were sell the house & car, move into a rented property within walking distance to work, pay off the loans and begin again on the property ladder when times are more suitable.

I didnt say its not good, I said it only sounds as good as it is when combined with another.

So the high life for someone earning in the top 10% of salaries in this country is is aspiring to anything above owning a two bed house (or rather not, because presumably the mortgage company still owns most of it) and having a car on finance (so not owning that either)?

Do you also wonder why kids these days have no ambition and no-one wants to work any more? This is why.

Huh? Owning a 2 bedroom property and a new car on a single person salary is not something to despair at, literally everywhere in the world is a luxury to afford those things before 35 on ONE salary! And people who have less also work hard so not sure what your point is that she should autumatically be owed some high life just because she works hard.

Are you a vet OP? Because if so, you’re right- that salary is unlikely to go up by much more as it’s almost at the top of what is paid for someone in general practice.

No, those are the things that it should not be wrong to expect if you have done more than everything that has been asked of you - worked hard, have a well above average job - at age 35.

You should be looking at this and despairing about the future of this country, not shrugging and saying the equivalent of 'well it's not so bad, could be worse'.

I'm guessing you're renting in London, but even still, with 4k a month it does not add up that you have NOTHING left after paying the essentials.

While I don't disagree our parents generation had it easier in lots of ways, I do wonder whether your 20s and your parents 20s looked the same?

I mean in terms of travelling, going out, spending money on themselves etc.

Im 38 and we had no financial parental help to get on the property ladder (although we did live at home for 4 years to save a deposit which I appreciate not everyone can) We bought at age 25, having had a child at 21 which really focused our minds.

If you don’t want a ft lodger how about a Mon to Fri lodger - if you are out at work in week might be easier.

I'd really like to know what profession this is!

Are you just starting out as a newly qualified or have you been qualified for the last 10yrs? Just trying to gauge if that's a starter salary.

Same here. Just turned 35. Earning roughly the same as you OP, in a professional career that required years of training and experience. Sacrificed a lot to get here. But I often wonder why I bothered.

I barely go anywhere any more, except to work, everything is too expensive. I have no hobbies, except walking and running. I live off pasta, beans on toast, soup, and jacket potatoes. I'm still renting, which is disgustingly expensive. I started saving a little for a house deposit but it's never going to be enough. I never go on holiday. I've just had to use leave I didn't take this business year - currently enjoying 2 and a half weeks of doing nothing at home. I never would have dreamed my life would look like this when I made my career choices. My family of 4 had a more comfortable life when I was growing up in the 90s - my dad was an electrician and the sole earner, my mum was SAH. When they were my age, my parents owned a 4 bedroom house in a nice area, took us all on at least 1 holiday abroad every year, had 2 cars and gave us everything we wanted and needed really. Nice clothes, books, toys, games, tech, sports clubs, lessons, you name it. I just can't get my head around it!

I'm surrounded by friends and colleagues on similar salaries who appear to have everything though. I assume a lot is on credit? The only positive is that I have no debt, debt stresses me out. And everyone I know around my age who owns a home has had significant financial support from parents, or an inheritance. If you don't have financial support from family these days, the odds are definitely against you.

I thought the same