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Original poster

£100k and above earners - tell me your money worries

213 replies

SortMyHouse · 07/01/2022 23:02

Hi

Inspired by another thread!

I would like to hear from people who earn over £100k, where do you live, what do you do / sector? What qualifications do you have?

Then the reality of how far that salary goes.
What are your costs?
What are your money worries?

Thanks

OP posts:
ChannelTheCalmaLlama · 07/01/2022 23:42

@liliainterfrutices

That does sound really hard channel. I mean that sincerely.
Thank you. I really appreciate that. It's so hard, it's all on me. I was told to "fuck off" on the other thread that the OP mentioned that inspired this one.
qualitygirl · 07/01/2022 23:42

Forgot to say we work in pharma. Degree level each.
Take home monthly
6200
Bills,food etc usually take up about 1500-1700
So 6200 -1500 = 4700 left

We save about 3k per month at a minimum

Original poster
SortMyHouse · 07/01/2022 23:43

23:36ChannelTheCalmaLlama

You're forgiven.
I know people wont take kindly to this thread but why can't we talk about our 'probelms'?!
Like someone said on the other thread that good jobs are in expensive areas and have higher living costs, so just like you there are problems.

OP posts:

Interested in this thread?

Then you might like threads about this subject:

Jobs
VodselForDinner · 07/01/2022 23:44

What a goady thread.

(And I say that as someone who earns six figures, as does my husband).

Cocoabutterformula · 07/01/2022 23:47

VodselForDinner

Agree, breathtakingly crass and also earn the requisite amount.

Appallingly bad taste. Jeez ...

Original poster
SortMyHouse · 07/01/2022 23:47

As you're asking
10 per cent of my salary since I was a cashier at age 16
I take my religion seriously

How much do you give to charity?

OP posts:
Bushkin · 07/01/2022 23:48

I don’t worry about money on the way I did 10 years ago- eg will my card be declined, have I got enough fuel to get to work or what if an appliance breaks which is a really lovely feeling. I do worry about the big mortgage, the massive drop if one of us were to lose our job (the expectations) I worry about whether we have the spending vs savings balance right. More existentially I worry about whether it’s all really worth it…

Sure I’ve been absolutely hammered for saying similar on MN previously so awaiting the pile on on this thread too

ChannelTheCalmaLlama · 07/01/2022 23:49

@VodselForDinner

What a goady thread.

(And I say that as someone who earns six figures, as does my husband).

I don't think it was goady. It was a separate thread in response to a thread that asked what people earned on average, where they live and if they struggle... to which posters then piled on to have a go at people (largely me!) who simply answered those questions. I don't think this OP has any bad intent at all, she was trying to set up a space where people like me could say that they struggle without being attacked for it like I was on there.
Anon2022 · 07/01/2022 23:50

A massive difference is housing - and access to savings or deposit

We lived in London when DP was £150k and I was £50k about 10 yrs ago. I was working part time at that stage as I had 2 small kids . I could have upped my salary by moving in the 5 yrs previous , but hadnt as I knew I would loose my maternity pay abs rights

£200k ten years ago was peanuts to allow us to survive … we couldn’t afford anywhere with a garden that wasn’t going to vomit us to stay in our jobs / higher rate and would have a garden and would not be ex council

Yes - many of our friends bought ex council houses for 500k and they were lovely, and london are parks are fab … but it’s not the British dream ti share the lift with the buggy amd the scooter and the local addict / rehoused criminal

It’s all very nice and communal and there are lots of great primary schools … but it all depends on where in London. Wimbledon/ Chiswick / Harrow / Islington … you’ll be having a laugh ! South london / Croydon… maybe

Pay extra to buy a house 500m of the state school boundaries, sure
Pay for a private school - not a chance

Have 3 kids and reduce hours to 3 days a week … is this a laugh ?

So it all depends !

We started having kids and it worked whilst we worked and childcare / local school were fine . But senior schools are an issue and localities are an issue and commuting is an issue

Don’t get me wrong - london can be great to grow up and enjoy life
But it’s got it’s cost

Original poster
SortMyHouse · 07/01/2022 23:51

23:40JanglyBeads

How old are the kids?
When will the childcare costs stop?
Or is it the before school and after school care that is the issue?
Are you able to pay well into your pension?

OP posts:
SpookyScarySkeletons · 07/01/2022 23:54

@BookShark

Both qualified accountants and average £100k each, Oxbridge degrees plus one of us has a PhD, live just outside London in a small 3-bed. One DD at private school, could pay off mortgage now but have an offset so haven't bothered as we're not incurring interest.

Not going to lie, we don't worry about money. But we're not big spenders - no interest in moving to a bigger house as we don't need the space, pre-Covid did one big holiday per year (i.e. long haul), but haven't even done that for the last two years, and probably won't this year either - we also do an annual week in Devon and have just stuck to that. One car (both Fords) is relatively new because the old one died, the other is 9 years old and we'll run it into the ground.

But, we massively over-save. We have good pensions, and will be able to pay for all DD's uni costs if that's what she chooses, as well as giving her a deposit for her first house.

Sorry, probably not the answer you wanted as we're not very exciting. But I guess that kind of salary gives you options, and we've chosen to be boringly sensible about what we do with it!

That's incredible
Original poster
SortMyHouse · 07/01/2022 23:54

23:49ChannelTheCalmaLlama

Sorry the post to jangly beads was for you?
When does your childcare end?

OP posts:
SpookyScarySkeletons · 07/01/2022 23:54

Hit post too earl

SpookyScarySkeletons · 07/01/2022 23:55

Seriously I give in with this phone tonight😂😂😂

Trying to say that that's incredibly sensible!!!!!

VodselForDinner · 07/01/2022 23:55

@ChannelTheCalmaLlama

I read that thread and knew this was in direct response to it.

You got your arse handed to you on the first thread because you intentionally landed into a thread entitled “Average UK salary. How are you getting on?” and let everyone know what you earn five times the national average.

Do you behave like that in real life? If you’re with friends and they’re saying it’s tough on £30k, do you jump in to say you’re on five times that?

If it was a thread for people to talk about the struggles of being overweight would you add “I’m very slim and have never had to watch my weight but it’s so tough really”.

Or would you join a thread about infertility by posting “you can have one of mine”.

Your response on that thread was deleted inappropriate and you were, rightly, called on for it.

ChannelTheCalmaLlama · 07/01/2022 23:58

@SortMyHouse

23:49ChannelTheCalmaLlama

Sorry the post to jangly beads was for you?
When does your childcare end?

It will be another 18 months before it goes down. It's currently around £2k per month. Mortgage £2.7k. If we can survive for 18 months we will keep our home, then it will all be fine. I get more sick all the time and I just want to make sure they are ok and have at one parent they can rely on. The escalating costs have come at the worst possible time for us: I'm on a pay freeze but everything is getting more expensive.
Original poster
SortMyHouse · 08/01/2022 00:02

23:55VodselForDinner

Give Chanel a break.
People can misread a thread
I misread that one

OP posts:
gogohm · 08/01/2022 00:02

£150k here, not me I earn peanuts in a non profit, that's the luxury I have. Not much spare due to maxing pension, large mortgage (paid off next year though), and 3 kids between us at university. Can afford to eat out and take holidays but we budget for them eg spent £1200 on last trip total. I do have the luxury of hello fresh or Gousto too I suppose but got rid of cleaner at start of covid and haven't hired one since

Bluesarestillblue · 08/01/2022 00:02

If your salary is £100k how much do you actually end up with in your bank account each month? How much is your mortgage / rent? imagining that a family with one earner of £100k in London might not be that well off because after tax etc and mortgage and commute, you probably don’t have masses of spare cash (st least, not for a champagne lifestyle)

dinahsdishes · 08/01/2022 00:03

150000 is 7.5k take home per month

ChannelTheCalmaLlama · 08/01/2022 00:05

[quote VodselForDinner]@ChannelTheCalmaLlama

I read that thread and knew this was in direct response to it.

You got your arse handed to you on the first thread because you intentionally landed into a thread entitled “Average UK salary. How are you getting on?” and let everyone know what you earn five times the national average.

Do you behave like that in real life? If you’re with friends and they’re saying it’s tough on £30k, do you jump in to say you’re on five times that?

If it was a thread for people to talk about the struggles of being overweight would you add “I’m very slim and have never had to watch my weight but it’s so tough really”.

Or would you join a thread about infertility by posting “you can have one of mine”.

Your response on that thread was deleted inappropriate and you were, rightly, called on for it.[/quote]
Like I said the OP described the average UK salary, made some facetious jokes about MN that I took to be lighthearted and then asked some very specific questions that I answered. Then people piled in being very unpleasant. I'm autistic so I don't really understand why even now despite asking multiple times because the OP's question was "what does your average salary look like? Which region? What industry?". I answered the questioned asked then was attacked.

If you think that is ok then you and I clearly have different comprehension of the English language, which wouldn't surprise me because as I said I'm autistic. I take words to mean what they actually mean per their definitions and respond on that basis. There was a lot of stuff on there about being "tone deaf" which didn't match the very clear questions the OP actually asked. Maybe she meant to ask something else and the questions were not what she wrote were not actually wanted people to answer? But I don't know her so I can't possibly guess this.

I really don't see the need to transfer the awful vitriol from that thread to this one.

Original poster
SortMyHouse · 08/01/2022 00:06

23:58ChannelTheCalmaLlama
Looks like people are on your back here too
Ignore them
Your situation is exactly want I want to hear about
£150k sounds great
But the reality like yours shows can still leave you with sleepless nights and you're just spending the basics

Like I said we are yet to have kids
I ma looking at nurseries that are English / French and Punjabi - you can't get those

You can get French / English and then Gurdwara (Sikh Temple) Education but you have to love in London, west London for that. It's not cheap. So this may not be a requirement to most, but it wil be a priority for me.

OP posts:
ChannelTheCalmaLlama · 08/01/2022 00:07

And no, I didn't say anything like what you implied in your post. That OP specifically asked people to state their average wage and region and sector etc.

Original poster
SortMyHouse · 08/01/2022 00:08

Can't spell aghh

OP posts:
burnoutbabe · 08/01/2022 00:11

Accountant. Was at £100 then went down to one day a week and did a second degree.

Paid off flat in zone 3 10 years ago. So no money worries (and no kids so that helps in terms of no career break, no needing to move to a bigger place etc)

Ploughed spair money into pension to max out the limits each year.