To wonder how people are coping?

If you are a hapless spender a billionaire would be bled dry in weeks.
If cutting the private school etc hasn't helped, then it does beg the question when did you last actually put together a household cashflow and update it daily?

Is it debt? Mortgage? Tax bill ref self assessment?

Suggest you download YNAB and get a grip on it all. Can you relocate, get cheaper cars, pack in bathing in bolly? :)

I'm not sure how you're struggling tbh. What is your salary take home per month?
I think I have significantly less, and have a pretty comfortable life...and I've managed to keep disney+

sorry that is shit. My boyfriend is on £35k and half his income goes on rent.
He is not living a similar life to someone on £100k. Come on now that is bullshit.

Courtesy of my partner:

Topping up your husbands pension may help reduce taxable income. Additionally, you may also have been better off not buying the second hand car with savings, but instead using a salary sacrifice EV car scheme at work. With an energy bill that high, if your house is suitable solar with battery storage coupled with an EV would cut your energy & car fuel bill substantially.You can take a loan out to have a solar & battery installation, and the money you would save on your energy would pay it back, and once that’s paid back you’d have the extra money back (might take 6 years or less). But energy is only going to go up further, and with an intelligent system you can sell back excess energy to the grid. Also get a plumber to check for any leaks if your water bill is high, as your utility bills seem pretty high.

Courtesy of me:
All working adults in any line of work should be able to get by and live semi-comfortably without worrying about their next meal. Things are more expensive for the avg joe. Whilst we continue to pay our taxes & bail out companies that screw us over (& reward unscrupulous shareholders), international corps & the uber wealthy evade tax. The wealth isn’t circulating back into our economy, it is lining the pockets of those that certainly don’t need more. Therein lies the problem! Though your gov may have you believe it’s all the migrants & foreigners (a tale as old as time).

If history has taught us anything, it’s that the great wealth divide continues and seems to be growing larger of late.

ffs! just f off wit your humble brag. you are rich-end of

Tax is high in UK so most of it goes on tax. There is little difference in quality of life between someone on 100k and another on median income of 36k.

If you didn't get a leg up by relatives, you will have a huge mortgage which will eat into your salary and will leave you exposed to high mortgage rate.

Some of your bills could be cut like home insurance, broadband etc if you can shop around.

I agree that costs have gone up a lot. I’m struggling to not spend more than I earn each month & I’m on a professional wage (not huge).

You can’t just divide the total by 12. I earn 127k and it’s the worst bucket for tax

You take home 7k from 160!

Jesus yeah I can see how your struggling to maintain luxury land with that mortgage.

I used to be a part time NHS nurse, raising three sons single-handedly with no support financial or otherwise. I now own my house, receive SP and am old. OP earns eight times my annual income. I am truly baffled as to why and how she is struggling.
£170k. Every year. (Not judging, just baffled)

this website is very useful

I know on average the pandemic hit lower income families harder, so I’m curious to know what happened to wipe you out?

Your household net income on £160K doesn't have to be £7K.
Your DH is stuffing 30% of his income into his pension which amounts to £3K per month. This is a massive proportion of your monthly income and this is a financial choice which can be easily addressed if you are feeling the pinch. I suggest that your DH reduces that 30% to something less. HTH

Unfortunately the article I've linked is the reality for many people in the UK now. If you're not in this position, there is reason to be thankful.

article on poverty by Gordon Brown

Probably to do with rent and maybe disabled kids.

I did just spend half an hour on an online calculator, to see if we're entitled to anything (household income is £40k gross; 2 teens, so you don't have to look it up)... and we're not. I didn't expect to be, but it would have been nice! Oh well.

I'm saving nothing and just hoping theres a distant rich relative that is leaving me everything one day, because long term I'm screwed.

Wow - I’m really surprised. My sister and her partner are on UC and really struggling. They are topped up to much less.

I work full time and earn a tiny bit above minimum wage. Almost all the so called cutbacks you’ve had to make I’ve never had in the first place.
But I’m happy and content with my lot because I’m aware of how fortunate I am to have a job, a home, friends.
A joint income of £170,000 is riches most of us will never know. Quit thinking you are in anyway struggling or suffering hardship.

I can kind of see that ‘six figures’ isn’t the same as it used to be. 100K per year sounds like a huge amount of money to me but:
Minimum wage in 2010= 11,000 per year
Minimum wage now= 24,000 per year

So ‘100k a year’ isn’t really what it used to be in relation to lower paid jobs but still paying much higher tax.

So I can kind of see how some people on bigger salaries are struggling, particularly if there are huge mortgages, financed cars and school fees in the mix.

Our income is nowhere near yours yet we have 3 foreign holidays a year and one of two kids in private school…
I don’t understand where your moneys going?

Oh and my council tax is £300 which is beyond ridiculous

Our annual income is under half of yours and we manage fine (family of 4). Yes things have got more expensive but we’ve had to cut back, but we are happily comfortable.

Also considering removing dc from private school but it feels such an injustice 💔

It’s shit OP. I’m in such a bad financial position now. Until last year I wouldn’t have thought twice about holidays, spending what I liked when I liked. Fast forward now I’m a single mum, now having to consider applying for benefits and quickly accruing debt. People condemn others for saying it but this country is utterly utterly shit. The economy, the weather, the culture. It’s depressing. And on top of it we’re all struggling - for what?

if dc dad weren’t involved you wouldn’t see me for dust getting out of this shithole. At least if you’re struggling in other country’s you’re getting SOMETHING out of it. Weather at a minimum.

and before anyone harps on about being grateful for the nhs, services etc. I don’t care. They’re shit.