I earn £81,000…

[Sueretiredawhileago]

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??!!!

it was Thursday- the new Friday
the only really busy night of the week these days

I am a single parent to a 17, 14 and 10 year old. I earn £33000 and live in the West Midlands. I don't buy many luxuries or treats, but I manage just about ok. It can be done, but I'm only ever an emergency expense away from things being seriously problematic. I don't know who has all the spare cash, it certainly isn't me. I feel your pain OP. I think millions of people do.

$81K for a single parent salary in London is not enough these days, I sympathise. Any chance of a pay rise OP?*

I’m trying but not had one in a couple of years!!

So a few years of no pay rise is equivalent to a huge pay cut :(

We earn a lot more than you, OP. And we have stopped takeaway coffees and small luxuries like that. I wouldn't say we have no luxuries, but we think about them more carefully.

Op, in answer to your question, I think salary is increasingly less relevant to lifestyle. Property prices mean parental gifts of deposit or inheritances can mean people on the same salaries have vastly different outgoings.

@Dibblydoodahdah

I’m a single parent and get less than 1/4 of what OP does (including benefit top ups).

There’s no way anyone is skint on £80k.

so what does that have to do with OP. Will be happy if OP and others like OP is poorer. Do you want OP to give you money (already is via income tax). Likewise, you ate giving to those with less than you. Why are you all happy with this cycle and way of living? Dont blame others for your situation. Blame the government that continues to rob you through taxes. You cant get a GP appointment, hospital appointment for your lump scheduled for two years time, no chance of chemo and on a Huge waiting list for organ transfers if your liver fails from all the ultra process food crap they are happy for you to eat.

Go to your local MP and complain to them, that’s what this country needs. People like you to actually stand up for yourselves and send your complaints to the right people.

Anyone who thinks £81k is a great salary for life in London is on another planet quite frankly. Have you seen the London house prices?

OP is a single parent, so there is no second salary from a partner.

If it wasn't for the income and tax London makes the UK as a whole would be a lower tier European country.

Everyone needs people in London earning higher wages

I hate London bashing it's so ignorant. It really isn't as easy as saying "move out of London" because then you would be on £30k not £80 if you can find work you are qualified for.

But if you can exist in London with a child you are giving your child a decent opportunity for the advantages when they join the career ladder. But you do have to pay shit loads more for smaller houses and little to no gardens.

But London bashing, generally, is really dumb.

It's a great salary for us in London. But we have a smallish mortgage. If we had to rent we'd be skint

On that £81k OP will pay -

Higher rate tax
NI
Student loan possibly
Mortgage (which she says is very high)
Childcare
Transport
Bills

We don't know how much that leaves her but I bet it's not a huge amount - especially if she's just come off a fixed rate mortgage.

She said up front that she's not on the breadline but honestly, are people only allowed to comment on their dwindling disposable income if they are?

Blimey.

Not sure why you tagged me?!!

Yes this.

As I posted upthread 30% of homes are owned outright. No mortgage or rent.

lots of affluent pensioners with final salary index linked pensions and low outgoings

it’s really not a question about salaries

Not just pensioners either @Cloudburstings , so many of my friends were either given huge deposits (meaning they could buy very young) or entire houses. Many earn less than me but have a far "wealthier" lifestyle

Fancy giving us a breakdown of your outgoings OP? You might get some good suggestions of where you can save money.

Oh please. Unless you live in central London (a choice, and a poor one at that) then there are many many other places to live.

London is a massive place, I take it your not familiar?

Yes and about 28% are mortgage, the rest are rentals.

So 70% of houses need to be paid for one way or another which is a vast majority.

i can actually see why OP is struggling if she is a single income household in London. On £80k she’ll be paying out a hell of a lot of tax / NI. Her mortgage/rent will cost a fortune. She won’t be getting child benefit or any other handouts. And if childcare / school fees are a cost then yeah, she probably doesn’t have a lot of pocket money to spend on other things

I’m a flat broke single parent but luckily I have a job that pays expenses for socialising with customers, I’m one of the people on the London pavements but it’s not my money!

*Oh please. Unless you live in central London (a choice, and a poor one at that) then there are many many other places to live.

London is a massive place, I take it your not familiar?*

Oh please yourself. Yes I am familiar thanks, and while some places are cheaper than others, no where is exactly 'cheap'. If you think there are, please share.

Totally agree.

Type out all your spending on what categories last month & see if MNers can find you savings.

I dunno what to say OP. You're puzzled that frittering away your money on stuff you dont' need isn't as easy as it used to be. Some of us were (are) always frugal so can't relate.

Be interesting to know what your take home is on that, I did a tax calc with 8% pension, plan 1 student loan you only take home 3,900, if you are paying childcare even if it's only wraparound for 1 or more children you really aren't left with much! I asked where it all went but actually if you are paying into pensions etc, it soon disappears before you've even seen it, add in some childcare there's not much left, I can see what you mean.

Oh please.

You don't need 'cheap' on £81k. You have options even if you're accustomed to a fancier way of living. Plenty of nice flats around.

How do I know? I have a 2 bed flat in London. I'm on less than half of OP's salary. Combined household is much less than £81k.