Page 4 | 40 grand a year

Howmanytimeshasshesaidimnotgonnalie · 2024-10-06T21:24:39+00:00

Would you consider this a good wage? Could you live on it fairly comfortably? Two adults, one dc and dog, South west, renting

Cem82 · 06/10/2024 23:43

It really depends where in the South West and whether you will work remotely as depending on where you live you could have high transport costs. It’s a completely mad system here where you could go someplace 2+ hours away for £20 but then pay £200 for a peak time ticket to someplace less than an hour away. Train from Bristol to Birmingham or London is ridiculously expensive but Bristol to Plymouth is a fraction of the price.

You can live on £40k after tax, you won’t have much fun money but you will manage rent, bills and food! Be careful when taking on a rental to also check the council tax band as some houses have really huge council tax bills despite being small! Our current house is two bands more expensive than our last house which was much bigger and in a nicer area - it is so random.

Original poster

Howmanytimeshasshesaidimnotgonnalie · 06/10/2024 23:43

@Genevieva Well, we’re hoping to rent it out for part of the year and have our holidays there in the summer-that way we only have to pay for flights and we get to see our friends here etc

OP posts:

SummerSnowstorm · 06/10/2024 23:43

Howmanytimeshasshesaidimnotgonnalie · 06/10/2024 23:42

@SummerSnowstorm Would we get universal credit for earning that amount?( never had it before)

If you have a child and rent you should do. There's calculations online to check the amount.
There child benefit which is separate to universal credit too.

maddening · 06/10/2024 23:43

Where will your dh be based for work and how frequently will he be on site? Perhaps good locations that might be more affordable could be suggested?

Heronwatcher · 06/10/2024 23:42

I think it will be really tight TBH. After rent you’ve got potentially only £1600 for the whole month to support 2 adults, child and pets including transport (car etc), food, utilities, clothes. That’s only £400 a week for both of you. And that’s before you factor in when things break/ go wrong, car needs 2 new tyres, car needs to go to the vet, school trip, presents for family etc and the odd holiday. You’d survive but IMO I don’t think you’ll feel comfortable.

Original poster

Howmanytimeshasshesaidimnotgonnalie · 06/10/2024 23:42

@SummerSnowstorm Would we get universal credit for earning that amount?( never had it before)

OP posts:

SummerSnowstorm · 06/10/2024 23:40

Each would be fine. If renting would be fine as then universal credit will top it up. If you have a mortgage and its only one of you earning it then it would be quite tight financially unless its a cheap mortgage (~500 or so)

FiveLoadsFourLiftsThreeMeals · 06/10/2024 23:38

ShyMaryEllen · 06/10/2024 23:26

Do people really count their salary as ‘household after tax’?

This probably depends where the OP us moving from (somewhere in the EU she said). In the EU country I live in nobody talks about annual gross income, they always refer to monthly income and often net (there are loads of individual compulsory deductions and your tax class depends upon your household dependants not just your income here, plus there are some extra payments within the gross salary for people in expensive areas... So it makes sense to talk about monthly net income as identical basic gross pays out differently for different individuals).

Genevieva · 06/10/2024 23:37

Howmanytimeshasshesaidimnotgonnalie · 06/10/2024 23:34

@Cattenberg Well, the job is in Falmouth and my family live near Perranporth & Newquay, so ideally in between those two places somehow 😬

Is there any particular reason for not selling your current house?

Original poster

Howmanytimeshasshesaidimnotgonnalie · 06/10/2024 23:34

@Cattenberg Well, the job is in Falmouth and my family live near Perranporth & Newquay, so ideally in between those two places somehow 😬

OP posts:

fridaynight1 · 06/10/2024 23:34

We live a comfortable life on £34k single salary, petrol paid for, kids left home, mortgage £1050. So yes, 40k would work for us.

We live within our means and we do that comfortably.

PickAChew · 06/10/2024 23:33

Okonomoyaki · 06/10/2024 22:35

Very much serious. Small 3 bed semi in a 'nice' area, but no parking and tiny garden.
Two basic European city breaks a year, plus a UK week away with dog.
Try to do a long haul every 5 years or so.

So you're saying you're skint but have 3 holidays a year?

Howmanyusernames123 · 06/10/2024 23:32

Ellsx6 · 06/10/2024 23:28

Not great in my opinion. Me and DH have about 60k a year..1 child on the way and we are mortgage free and we don't live enjoyabley and comfortabley and that's before the baby's here so we are thinking we need to up our wages before he arrives or we'll be scraping by🤣

What the fuck do you spend nearly 4k a month on if you have no mortgage?

Cattenberg · 06/10/2024 23:30

Genevieva · 06/10/2024 22:52

The South West is very expensive for private rentals because the tourist market is more lucrative than long term lets, so there aren’t many. Unless you have family there to help with childcare while you both work, you’ll find it a struggle to get by on one income or even two incomes plus after school and holiday childcare.

It’s true that renting is expensive in the SW. I couldn’t afford to rent my current place, but can afford the mortgage. However, many parts of the SW are NOT tourist destinations. Which area are you looking at, OP?

DrCoconut · 06/10/2024 23:30

🤣 at 2 European city breaks a year being "barely comfortable". My drier has broken down and I'm praying I don't have to replace it.

Ellsx6 · 06/10/2024 23:28

Not great in my opinion. Me and DH have about 60k a year..1 child on the way and we are mortgage free and we don't live enjoyabley and comfortabley and that's before the baby's here so we are thinking we need to up our wages before he arrives or we'll be scraping by🤣

ShyMaryEllen · 06/10/2024 23:26

Do people really count their salary as ‘household after tax’?

Howmanyusernames123 · 06/10/2024 23:24

Prescottdanni123 · 06/10/2024 23:05

Sadly, most mumsnetters are under the (deluded) impression think that if you don't earn six figures, you will have to live on bread and gruel and burn furniture to keep warm.

I know!

what are you lot spending on that 3k a month is tight?

our household income is not that high and I consider us quite comfortable. 2 kids, one dog. Savings, and enough spare for treats.

i managed in London with 2 in childcare on 40k gross. 40k net with no childcare is a doddle 😂

AutumnTimeForCosy24 · 06/10/2024 23:24

LovingCritic · 06/10/2024 23:14

Last year I earned a shade over £16K, and have a very comfortable life, its all purely relative to what you want from it I guess.

@LovingCritic

mist people would want a roof over their heads! That wouldn't even
civer the rent here.

AutumnTimeForCosy24 · 06/10/2024 23:22

CandidHedgehog · 06/10/2024 23:18

on that income, I think the amount of rent is too high when the remaining money has to cover 3 people.

@CandidHedgehog

thats all well & good, but try finding anything cheaper!!

AutumnTimeForCosy24 · 06/10/2024 23:21

bergamotorange · 06/10/2024 22:46

Well that's a bit different.

Yes it'll be manageable.

Although your rent is very high.

Show quote history

In the SE, that's a basic 2bed house IF you can find one!

Dont know about SW.

FunnysInLaJardin · 06/10/2024 23:20

not enough by a long way

Underthere · 06/10/2024 23:20

It leaves you with about £400 a week for food, bills, clothes etc. and transport, which would mean careful budgeting, but is certainly possible. A lot depends on what your transport costs and bills would be. If you don't have a commute to work and rent a flat with low bills, it will be fine.

CandidHedgehog · 06/10/2024 23:18

on that income, I think the amount of rent is too high when the remaining money has to cover 3 people.

Cattenberg · 06/10/2024 23:16

I’m in the SW and get by on far less. Our household consists of one adult and one child. We own our own home with a mortgage, but grandparents did help us out with the deposit and also help out a lot with childcare. I can afford to pay for music lessons and other hobbies for DD. We don’t have a car, a TV or pets though.