Household income. Where are you?

We're at the lower end of the top third, but I misread the instructions first time round and used gross figures. Which gave an impressive, but completely incorrect, result.

It's not assessing wealth, it's an income calculator.

46% DP and i earn roughly the same and we have a 6mth old DS. I still feel very fortunate because we never struggle to pay our bills and aren't lacking anything, thank God.

I was just really trying to explain why those in the 90% range don’t actually feel rich.

It’s lifestyle creep though, if you didn’t have the income you wouldn’t be paying for gym membership, or golf, or extra curricular activities. You’d run a small, cheap car - or not at all - you’d have a smaller house etc. You choose to do all of that because your income has risen and, for most people, their spending increases according. You’re richer than people who can’t make those choices, because the money simply isn’t there.

But if you had an average income, your outgoings would be much lower.
You can only afford to spend £5k a month because you're richer than most people.

56... I feel like I earn quite good money, think it averages out because I'm the sole breadwinner. If there were two of me and we were a couple we would be at 97 😆

Edited to say I didn't realise it was net income, in which case I am waaaay lower

The global rating questionnaire posted earlier may be quite thought-provoking for people, in terms of reflecting on how fortunate many people are and how much of a difference could be made by charitable giving from people with incomes in the higher percentages.

86% without housing, 66% with. Once you factor in nursery fees and the fact the house is a fixer-upper so mentally, you’re surrounded by phantom “ooh, this’ll cost ya” reminders you can’t hide from, it makes sense that despite DP’s relatively high earnings and equity in the house we spend a lot of time scratching round down the back of the sofa trying to afford life.

We drive an inherited banger, don’t have holidays or gym membership or takeaways, no bells and whistles. We could also scrimp and plan better but it does feel a bit like we’re in the wack-a-mole years of small children when there’s always bloody something. It was reassuring to here from brighter minds than mine on this thread that the calculator ain’t all that, because 66% made me panic – why don’t we feel OK?!

@financialcareerstuff But my point wasn't about complaining and whether it's ok to complain - it's questioning the validity of the conclusion that you are in X percentile of any meaningful measurable. This neither measures your real, unavoidable costs, nor your assets, nor your actual spending..... so what is it actually trying to say? It's basically saying "here's your percentile placement based on a rather random 60% selection of relevant data needed to tell you something meaningful"....

The point I am making is that personal spending choices have absolutely no bearing on how well off you are, because that's a personal and conscious decision made as to how to use your own expendable income.

The unavoidable costs that you mention do have a bearing on how well off people are, of course.

which is why so many people are confused by their results and the fact that it doesn't correlate to their experience.

Some people are just being outright daft. I already provided the analogy of someone who says he has no food because there is no food left after he consumed multiple takeaways that day.

95%. 2 adults and kids all left home

81%. About where I expected it to be.

But my point wasn't about complaining and whether it's ok to complain - it's questioning the validity of the conclusion that you are in X percentile of any meaningful measurable.

This neither measures your real, unavoidable costs, nor your assets, nor your actual spending..... so what is it actually trying to say? It's basically saying "here's your percentile placement based on a rather random 60% selection of relevant data needed to tell you something meaningful".... which is why so many people are confused by their results and the fact that it doesn't correlate to their experience.

98% on both pre and post house cost.

We obviously know we are very fortunate. I wouldn’t expect my DC to be anywhere near this when they are independent (although obviously would be very happy if they were), nor were our parents before us anywhere close.

Does it? We don’t have sky, car loans etc.

That’s just living. It could be less, granted. You absolutely live within your means. If I take annual costs into account, it’s probably more like 5k.

running 2 cars, 2 children in extra curriculars, and then general household bills (mortgage, gas, electricity, water, CT, food yada yada), gym memberships, personal hobbies (golf), that’s the outgoings.

it could be less like I said, if we had to we’d give up the gym and golf, children wouldn’t be able to do extra curriculars, go down to one car etc.

I was just really trying to explain why those in the 90% range don’t actually feel rich.

20% without housing costs,
28% with housing costs

Which feels about right. And explains why I am panicking at the imminent prospect of needing to buy a new car.

Well, we are in the lowest 13% but we own a house worth over half a million - despite rubbish income form one pension and my pathetic NHS salary, so I wouldn't consider us that bad! Interesting way to assess wealth

A calculator that only takes into account income and not assets/wealth isn't capturing the true picture.

My husband and I both earn well but don't have family money - we've watched friends on a third of our incomes easily buy houses years before we could even consider it, but definitely consider themselves "poorer" due to their headline salary incomes. I think our equivalents in 10 years' time will be unable to realistically build wealth based on earned income alone.

Take the housing costs out, so on income alone, it's 74%. Which tells you bugger all really as high costs would eat a high income.

While I recognise a genuine benefit for SUVs in the Scottish Highlands, surely you can’t be totally oblivious to the changing climate up there and the contribution excessive, unnecessary, consumption is making to that.

Not forgetting the massive air pollution caused, with the particulates and thousands of chemical compounds expelled into the air.

Apparently, putting people in hospital by inflicting cancer, autoimmune diseases, respiratory diseases, and cardiovascular disease on them is a sensible price to pay if that ensures you can get to hospital whenever there is a bad storm on 1 day every 25 years.

Far too many drive these cars as prestige statements. For the record I recently got to work in the amber snow warning in my little c1.

Same here, I have also been able to drive in harsh weather conditions in a similarly-sized car. So I have no idea what is meant when people claim that SUVs can somehow go places where small cars can't.

81% (single adult household). I do not feel that well off!

67% which is more than I was expecting to be honest. We have lowish housing costs as mortgage only 600 per month due to high deposit and buying 15 years ago.

We have a high combined gross (and net) income with my individual income slightly higher than DH. We are in the top 98%, which makes me realise that the 98%-100% must cover a large amount of wealth.

We are really high which doesn't surprise me as both DH and i earn loads.

We pay loads of tax though. I think a lot of lower earners don't realise how much tax comes off higher salaries. Someone on £120k doesn't take home twice what someone on £60k does.

£120k - take home £75k
£60k - take home £45k

The extra £60k costs you £30k in tax.

20%. Both work full time (in fact, slightly more). Two teenagers. Mortgage.

@financialcareerstuff This is an extremely blunt instrument - doesn't clearly factor in energy costs, repair costs, car costs, or primary mortgage payments, ... and doesn't distinguish between kids with nursery care costs, versus in full time state education, versus private school etc..

With energy and repairs, you have a valid point.

However, mortgage payments, nursery costs, private education are all linked to personal choices. No one is allowed to complain about costs linked to choices.