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AIBU?

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Original poster

To think we CAN live on the mortgage

743 replies

JaneEyre40 · 28/05/2025 09:34

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

OP posts:
Usernamesarenoteasy · 28/05/2025 09:41

Is this a serious question? You have £65k in savings, and £6k a month to pay for everything other than mortgage and nursery and you don't think you can afford it??

TheSwarm · 28/05/2025 09:41

Well, it's a simple matter of budgeting, isn't it, but you are hardly on the breadline.

Have you added up all your other expenses? If, once you've done that you are covering all your expenses and ideally have money for savings/ fun stuff, then yes, you can afford it. You've got more than enough savings to cover loss of income or other emergency expenses as well.

Icedcaramelfrappe · 28/05/2025 09:40

Jeeze, that's a tough one

BCBird · 28/05/2025 09:40

Can't believe people have these sort of incomes- another world!!

NotSmallButFunSize · 28/05/2025 09:40

Oh piss off!

If you can't work this out, how the actual fuck did you even get the job that pays so much?

Sahara123 · 28/05/2025 09:39

Oh give over there are many of us living on considerably less than you have left over for everything!

Fearfulsaints · 28/05/2025 09:39

Have you stress tested the mortgage at different interest rates?

Yes your income is huge and after the mortgage and nursery fees would still be more than my total household income.

but I assume with such a big mortgage a couple of percent on interest would have a big impact.

Sofiewoo · 28/05/2025 09:39

Maths is hard.

Grumpyoldpersonwithcats · 28/05/2025 09:39

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Is the £10,500 net or gross?
Makes a big difference

Bundleflower · 28/05/2025 09:38

Maybe cancel Sky?

GasPanic · 28/05/2025 09:38

Not if you have a 6K a month alcohol and drugs habit.

hairyunicorn · 28/05/2025 09:38

I think you'll struggle. Definitely need to take on a side hustle!

vinavine · 28/05/2025 09:37

Be prepared for poster saying they bring in 20k a month but would feel uncomfortable with a mortgage over £600.

may2025 · 28/05/2025 09:37

BMW6 · 28/05/2025 09:36

Ooh I think you'd be wise to both get evening jobs - shelf stacking perhaps?

Maybe they could take in some ironing Confused

stealth boast

vinavine · 28/05/2025 09:37

How is your salary split? If one of you lost your job could the other still pay the mortgage. Seems fine on paper though

BMW6 · 28/05/2025 09:36

Or take in ironing?

Overthebow · 28/05/2025 09:36

I'd say so, yes, as you will have almost £6k after mortgage and nursery. But it depends what costs you will have for running the house, are there particularly high bills or service charges? Also are you wanting to pay for private school?

BMW6 · 28/05/2025 09:36

Ooh I think you'd be wise to both get evening jobs - shelf stacking perhaps?