What do you consider to be well off?

[Namechangestimes100]

What do you consider to be well off, for ease let’s say outside of London?

DH and I (early 30s) combined earn 85k base salaries (we get annual bonuses but as these aren’t a given and vary, can’t really include) We are most certainly not rolling in it. When I started working, 85k combined seemed like a lot, but with the increases in the cost of living, I do find myself worrying about money often, esp when i go back to work and we’ll have 2 kids in childcare . The 30 free hrs, doesn’t amount to a lot at all when split over the year with food+ nappies on top.

so i think well off probably over £100k a year?

what do you consider well off? For me it’s no money worries, you don’t worry about money.

( just because MN this is in no way a ‘brag’ post)

Isn’t all relative, you sound well off to me but maybe not to someone whose combined income was more.

I think you sound well off but most measures.

Suppose you’re right, 85k sounds like a lot, and it definitely did to me when I started working but with these increases, it’s going out faster than it’s coming in

It is a lot, we have more children and subject to the same increases but with less incoming and we aren’t living hand to mouth like some.

Well off is being able to have the heating on when you want and as much hot water as you like m, being able to go round the supermarket and buy what takes your fancy.

I'm waiting for someone to come along and call OP tone deaf.

If you have all the necessities of a happy life. For me, these are shelter, food, clothing, books, a trowel, a spade, and a rake. Luxury.

The answer is basically always "about 20% more than I have"

What do you spend it on?

I had colleagues who complained about being on a similar salary, just one person, but they must have spent £40 a week at Pret alone.

I think for me anything over £50k is well off.

That would certainly be my realistic dream salary.

But it's all relative and at this point an extra £5k would make a huge difference to my life as my mortgage is quite high.

It depends on so much. If you've got a big mortgage, two cars, children in nursery etc then it's going to go much less far than people who've got fewer outgoings.

In principle, though, I'd think that was a pretty good income for outside London.

You are my kind of person!

On MNs you won't be well off unless you both earn 6 figs in your 30s, have a tiny mortgage on a 1.5m house. 3 yrs of expenses in savings & lots of investments.

but You have NO idea my outgoings and what they are spent on.

DH is the higher earner and supports 2 households, and I have a child who has had some complex health issues that the only course of treatment was private

When I compare myself to most of the rest of the world's population today, or even much of Britain - or back into history - even relatively modern history - I feel wildly, extravagantly wealthy.

The air miles I have travelled in my life, the plastic I have used and discarded which would have been considered a near magical substance a couple of centuries ago, the clothes I've bought on a whim that sit unworn in my wardrobe, the delicious meals I've eaten...

When I compare myself to the majority of other parents at my DS school turning up in nearly new SUVs and discussing their latest ski holidays and plans, I feel fairly modest.

When I compare myself to my direct friendship group, I feel I'm doing okay...

Well this OP hasn't yet mentioned it as a 'mindful' or positive experience....

I’d love a salary of around that too, but I’m quite a way away yet

I feel like my standard of living is going down and wages in this house have never been better we’re on combined around 100k

but I few like when we had a combined of £50k we had more disposable income! 1 dc in school so childcare costs not insane but we have the add ins that cost a lot- full sky all the other subscriptions etc

i know we’re ‘well off’ go on holidays nights out etc but it’s never enough now we have a bigger mortgage bigger bills and more expensive standard of living

I feel like it’s a cycle of more money = more expensive lifestyle and treats = these becoming normal for you and then when it’s tighter you feel it.

in all honesty now I think we’re well off but need to reign it in

You’ve asked a vague question with basis in semantics.

Well done you earn 85K

You can include the bonuses, just average them.

If you're not rolling in it it's because you increase your outgoings alongside your earnings. Don’t do that and you could become “wealthy”

Don’t worry about money?

I don't worry about money because I'm a housewife. Am I well off? I earn 500/month (I averaged it) and partner pays all the bills.

The difference between 85k and 100k will be a take home of maybe 9-10k a year so not masses more.

It's also because wages have been so devalued. So on paper 85k is a lot & should go far but in reality many would struggle to buy a house, pay childcare etc

DHs not had one yet, but the potential is there and mine wasn’t anything mind blowing but of course a nice to have.

it’s the mortgage, 2 households, and childcare that drain us… none of which can be gotten rid of.

I’d consider 85k well off!

Someone we’ll off is someone who can afford all their bills, have nice cars, expensive holidays and still have money left over.

However, it’s all relative. Someone who is well off to one person is not compared to another.

I agree. Plus not having expensive 'wants'. Like the person referred to above who spends £40 pw in Pret. If that's your ideal of normal basic expenditure, then it's likely you're never going to feel well off, because there's always going to be something you want to spend money on.

OP, if you want to compare yourself with all UK families like yours, have a look at ifs.org.uk/tools_and_resources/where_do_you_fit_in rather than asking a non representative sample on here.

You'll just have to concentrate on the light at the end of the tunnel that is your DC starting school for now, but remember, if it feels like it is 'going out faster than it is coming in' for you now, imagine how families with incomes half what yours is, or less than that feel.

Exactly! DH got a promotion and a pay rise of 13k but after tax and deductions it’s not as staggering as it sounds.

Lol - I didn't call you tone deaf love, chill out. It's just usually the way these threads go