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Original poster

I earn £81,000…

280 replies

Sueretiredawhileago · 15/09/2023 17:36

And (although clearly I am not on the breadline and understand how lucky I am compared to others) I have very little spare money. I am a single (co) parent and I live in London so mortgage is a lot. I used to have loads spare and felt ‘well off’ but now I’ve had to cut down on all the little spending I once never gave a thought to. No quick coffees, pastries for breakfast, no brunches, no magazines, new lipsticks etc etc.

If I can’t afford these things I don’t understand how ‘they’ keep saying that consumer spending is still strong and driving inflation. Who the hell has the spare money??!!!

OP posts:
Spirallingdownwards · 15/09/2023 17:41

Was in London yesterday and everywhere was heaving, pubs were overspilling on to the pavements and they looked like people from work rather than tourists so it seems plenty do have disposable income. Potentially younger workers who live at home still but have some spending capacity?

caerdydd12 · 15/09/2023 17:42

Lots of people.
Those that aren't single parent households, those outside major cities where living costs are usually cheaper etc.

I'm in the Midlands and we're doing absolutely fine, but it's much easier when your bills are shared with another person, you don't have childcare to pay for and your mortgage/rent isn't ridiculous.

80k is a great salary but if you're somewhere expensive I can see how the essentials really eat into it! And of course you're worse off as a household with 80k as one salary rather than 2 on 40k each, so it's not always easy.

Bookish88 · 15/09/2023 17:43

Well... most of us don't live in London OP? 🤷‍♀️

Interested in this thread?

Then you might like threads about this subject:

General money
titchy · 15/09/2023 17:43

Who has spare money - obviously people without a bloody big mortgage!

My dc rents a house share in London on a salary of around £30k and is out plenty!

HalfSpoon · 15/09/2023 17:46

Sueretiredawhileago · 15/09/2023 17:36

And (although clearly I am not on the breadline and understand how lucky I am compared to others) I have very little spare money. I am a single (co) parent and I live in London so mortgage is a lot. I used to have loads spare and felt ‘well off’ but now I’ve had to cut down on all the little spending I once never gave a thought to. No quick coffees, pastries for breakfast, no brunches, no magazines, new lipsticks etc etc.

If I can’t afford these things I don’t understand how ‘they’ keep saying that consumer spending is still strong and driving inflation. Who the hell has the spare money??!!!

I earn slightly more and I am skint. Didn't have a fixed mortgage so that's up by £1,300 a month.

CheshireCats · 15/09/2023 17:46

I would suggest moving out of London and ideally to the North or to Wales for example. You earn twice our annual income and we would be living a life of considerably more luxury on that income here despite having more kids to provide for.

PuttingDownRoots · 15/09/2023 17:46

High income but high (essential) outgoings.

WhisperingHi · 15/09/2023 17:48

We have spare money. Because as a household we earn a little over £100k and we live in the SE but not in London.

We have one UK holiday a year and buy secondhand where we can. We are lucky to have no debt. Most of our spending goes on days out and food.

Oh and we're incredibly lucky that we have a few more years left on a low interest rate. Once that goes up, we'll be feeling the pinch a lot more.

catslikeparties · 15/09/2023 17:50

Sueretiredawhileago · 15/09/2023 17:36

And (although clearly I am not on the breadline and understand how lucky I am compared to others) I have very little spare money. I am a single (co) parent and I live in London so mortgage is a lot. I used to have loads spare and felt ‘well off’ but now I’ve had to cut down on all the little spending I once never gave a thought to. No quick coffees, pastries for breakfast, no brunches, no magazines, new lipsticks etc etc.

If I can’t afford these things I don’t understand how ‘they’ keep saying that consumer spending is still strong and driving inflation. Who the hell has the spare money??!!!

People who don't have mortgages
People who live with mum and dad
People who have inherited and don't have to worry about money
People who have very well paid jobs
People with good pensions and no rent or mortgage to pat

People who don't care about getting in debt and just spend money anyway

Overthebow · 15/09/2023 17:52

There’s loads of us who can afford it. We’re a two income household, live in the South East but not London. I went out for lunch today and will be out for dinner tomorrow.

Spacecowboys · 15/09/2023 17:53

It’s because you live in an expensive area, salaries down south are inflated to account for this but probably not to the extent that it levels out with outgoings. You’d probably live more comfortably up north on half that salary.

WhateverMate · 15/09/2023 17:53

I'll never understand why people keep starting these threads to ask this question.

How is it not clearly obvious that people choose to spend their money on different things?

SlipSlidinAway · 15/09/2023 17:54

Spirallingdownwards · 15/09/2023 17:41

Was in London yesterday and everywhere was heaving, pubs were overspilling on to the pavements and they looked like people from work rather than tourists so it seems plenty do have disposable income. Potentially younger workers who live at home still but have some spending capacity?

Exactly. I have 2 in their 20s living at home (not rent free but nowhere near typical London rents). They have significant amounts of disposable income and can afford to do things that I could only dream of in my 20s (renting In London on public sector wage). They've saved significant amounts towards a mortgage, but can still afford holidays abroad/tickets for big events/expensive restaurants etc. Lots of their friends are in similar positions.

Lyricallie · 15/09/2023 17:56

Yup it’s the area. I live in a low cost of living area in the highlands. Mortgage on our 4 bedroom house is £560pm and we are we well paid as they need to encourage us to live in the middle of nowhere. So my disposable income gets spent in the town here.

wonderstuff · 15/09/2023 17:56

People’s mortgages vary massively and single parenting in London with a sizeable mortgage is going to be a huge expense.

We have a joint income similar to yours and a fairly small mortgage on a very low interest rate and we’re starting to feel the pinch a little bit, cutting back on eating out and takeaways. Different people have different priorities too, I’d rather cut back on food so I can spend more on a holiday.

There will be people without mortgages or with pretty small ones, it’s going to vary massively. I know someone who has so much investment income they live off that, I know others who should be comfortable but have huge debt, people who haven’t ever put in pension savings and always live for today and someone who lives very very frugally but has enormous savings.

I think only 30% of people have a mortgage.

DinnaeFashYersel · 15/09/2023 17:59

That's literally bing in London for you.

Dguu6u · 15/09/2023 17:59

Another OP bragging about how much they earn and then crying that they don't have any spare money because they spend it all on what is out of reach for most people (like owning a nice house in London)

Comedycook · 15/09/2023 18:01

We live in london on a similar income and are very comfortable on that. We have a very small mortgage though.

CinemaCrazy · 15/09/2023 18:01

Who the hell has the spare money??!!!
Rich people.

Comedycook · 15/09/2023 18:02

How much is your mortgage op? Do you have childcare costs?

TheYearOfSmallThings · 15/09/2023 18:02

I earn much less than you and I have no difficulty affording pastries for breakfast. I don't think you do either...

Coldbrewnumber2 · 15/09/2023 18:04

Dguu6u · 15/09/2023 17:59

Another OP bragging about how much they earn and then crying that they don't have any spare money because they spend it all on what is out of reach for most people (like owning a nice house in London)

100 percent it’s a brag.
OP (and others who post this humble braggish stuff) need to get some serious perspective.
81K a year FFS 🤦🏼‍♀️

billysillydilly · 15/09/2023 18:07

people who are mortgage free or with small mortgages or who earn a lot.

MariaVT65 · 15/09/2023 18:07

I earn £38k and was doing ok until i had to start paying for nursery.

I had the most disposable income in my 20s when I was single and renting, as I didn’t put pressure on myself to save up for a mortgage as I knew i’d never afford one by myself. Also I don’t like buying lots of ‘stuff’.

Comedycook · 15/09/2023 18:10

Not necessarily a brag...like I say our income is a similar level. We have a small mortgage so feel comfortable. However if we had to rent a comparable house to our own, it would cost is an extra £2.5k a month and we'd be struggling a lot.

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