In thinking 40k income really isn't a fortune??

[mummymacbeth]

Yes, a thread about a thread kind of. And I am fairly sure it has been done before but still!

I really don't think a forty grand gross income is a fortune. Our income with two kids is currently a bit less than that, though has been that in the fairly recent past. It is - and was - a bit of a struggle. We are not in the south east, we do not have a huge mortgage, expensive cars, kids are at state school and we don't manage to get abroad every year. We are living from month to month. A "fortune" it ain't!! (ref the post about someone wondering whether to have a fourth child)

Siriusstar you are exactly right in all of what you say, in particular the bit about not comparing your circumstances with other people. That - and a renewed vigour when it comes to budgeting - is the key learning point for me from this very interesting discussion!! I just wanted a good old moan and to find out if others were struggling like me

SiriusStar I agree - there is so much hidden in peoples lives that others can't say/don't see saves £.

Our dc we invited to be taken away (but us pay) we said no, other relatives went and got in to debt for their dcs to go to Lapland for 4 nights at £500 or something silly

Marriedinwhite. Probably better to get a mortgage than waste money on school (you can get it for free you know!)

It depends on the area of the country you live in, and what your current outgoing expenditure is.

We live in the North West. While that is a good income, it's not a particularly high one in our area. However for someone five miles away in a different area it would be a lot.

Also depends if a person/family have debts, university/studying fees, high rents etc. we spend a large portion of our income on rent in a nice area, but then have older cars, no sky tv etc.

krum Just an aside, is school like the NHS considered free at the point of service? or just considered free full stop?

Krumbum the reason we don't have a mortgage is because we paid it off. No point getting another one for the sake of it

I agree different lives different expenditure. We spent a lot on top up fees for my mum who had dementia in a nursing home. We payed out a lot for my DH to go to uni.
They are not day to day costs and I'm sorry but you can't just get cheap deals and cut back when you are dealing with social services.!

Oh well that's good then. You must be loaded.

I know someone on about 19k and he has more disposable income than anyone else i know. He has a room in a shared house and walks to work.

YANBU

More than that here by a fair bit, but one income so mr Taxman has a field day.

Comfortable yes, one sensible family holiday abroad a year and two cars.

But we can't afforded private school or an exotic holiday every year. I still at the cost of having my hair dyed and can't conceive of paying what people do for manicures, waxing makeup and clothes.

Krumbum, you seem to have a massive chip nestling somewhere up on your shoulder?

Also awful petrol bills as the result of DH commuting and living in a bus free rural area.

40k is about average for UK household income for households where both adults work so YANBU to think it's not a fortune. It's just average, which means that some would live very well on it e.g. if they have little or no mortgage, no childcare costs etc but others would just get by.

We lived on nearly twice that when we were in the UK but didn't have a fantastic lifestyle because we were saving every spare penny to afford to buy a house.

"40k is bugger all! Together we earn about 125k. we both drive old cars, we live in a 1 bed flat. We are not rich, the bloody government take half of it!"

Even if you had a net income of £60k, if you cant live comfortably on £5k a month, then you are doing something wrong... ffs..

No chip. I just wish people were more honest about where they spend their money. A family on 85k are wealthy. And schools fees are just wasting money.

I just did a comparison of how much disposable income I had from before my last pay rise because I felt I should have more money now that I earn more. What I discovered was that the rise was entirely ofset by a reduction in CTC, but that some general bills are higher (cost of living), and that the holiday I thought I could afford because I'd had a pay rise I couldn't afford after all.

The real advantage of a higher income is that you have more choices - you can borrow more, for example, and people with massive mortgages or house improvemements are actually making an investment in the future and will be much better off in the long term. They will also (probably) have life insurance if something awful happens and a pension when they retire.

I haven't for one minute said I don't realise we have a good income, that I'm complaining about or life, or that we're very lucky. But I also think you'd assume very incorrectly that we have oodles of disposable income (you've already told me I "waste" money). I still think its all relative and that unless you're literally looking at someone's bank statements, you have no idea if 40k a year is a lot or not. You are making huge assumptions about people and I presume equating your outgoings with their salary.

"gas and elec - £90 pcm
council tax - £110pcm"

I wish!!!

And schools fees are just wasting money.

In your opinion.

I have two kids live in a council house but pay all bills and I live on 10 grand a year 40 thousand is a fortune!

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