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)

40k would be enough for us to survive food wise, clothes wise etc.

However we live in a listed house (which we inherited). We don't have a mortgage but we would struggle to heat it and maintain it and keep an ok standard of living on 40k.

I guess what I'm saying is we could survive but not at our current level of spending.

You make choices though. It's a choice to live somewhere expensive, it's a choice to have a car and even more so 2 cars! (expensive cars maybe), private schooling is a bad choice, choosing wildly expensive nursery over child minders etc all choices.
It's just so disjointed from the real world.

"schools fees are just wasting money. "

We pay 2 lots of school fees, which of course we don't consider a waste. But then I do consider many things that other people spend money on to be completely pointless - manicures, takeaways, big TVs, £200 handbags... You pays your money (if you have any) and takes your choice.

There you go, another assumption. Nursery fees are actually cheaper than our local childminder. Sorry.

To me, now, £40k would be an absolute fortune. When I was earning that, 9 years ago? Not so much. The difference? A readjustment of understanding that, yes, actually, £40k WAS a fortune, and is still FAR more than the majority of families have to live off.

For a lot of people it's not a choice to have 2 cars, public transport would be impossible to get to work in our house.

You can't just move house/jobs if you lose it. We dont want 2 cars, what sort of idiot would throw away a grand a month including petrol for a shit car or two to depreciate on the street

You have 1 local child minder . Shop around!
One of my outgoings is buying a jaguar every month. I couldn't possibly maintain my essential standard of living on a mere 40k.

It's plenty with 2 kids

On a joint income we earn a little over 40k net. We have 4 kids - 3 teens and an 8 year old. Our finances are stretched despite the fact that we rent a modest house and drive a 20 year old car.

If we had no kids, or maybe one, we'd be comfortable. But we chose to have 4 and have to deal with it.

Oh stop it krum. It's cheaper than ANY of our local childminders.

When you take into account higher tax,a huge mortgage if it's 1k a month or over for a shoe box 40K in real terms/cash in pocket is very similar to what some on benefits(when you add the entire lot together including water capping etc) get so yanbu.

It's a case of having to. Single mum, no family no support from ex

40k is good wage
more than adequate

I'm loving the idea you 'choose' to live somewhere expensive - no, this is where the work is.

I dont want to live in a teeny, tiny house that costs 2k a month full of damp, woodworm, rot and slugs.

Oh and marriedinwhite - no mortgage and paying 3k a month in school fees? Why did you feel the need to post that on this thread?

We choose not to live in the middle of nowhere so therefore any jobs would not need a car. Live near where there's lots of jobs and near stations.

Train fares are out of many people's league,for some nursing an old banger as a 2nd car would be much cheaper.We only have 1 car but dp cycles(he's fit).

For me that would be a fortune. I live of under 10k and we dont just survive but we live comfortably. Its not enough to really save anything (long term) but i have relatively new car, we are going on holiday, we have a nice house and can afford to keep ds in decent clothes and pay for his activities.

Once i qualify i will be earning upwards of £26k which sounds like millions to me right now.

i agree about choices krum yes and no. DP does a very niche job. I doubt he could get employed out of that industry. That means he has to work in this specific location, a location we couldn't afford to live, so it is cheaper to pay £600 per month in fares. Because of where we live then we NEED a car etc. If we gave up these things he wouldn't be able to do his job so then the whether we could live on it would be irrelevant. I would say the 40k would be the minimum to live on with these outgoings.

We live in a town centre, dh's job is still 2 towns away (across country) - the only way to get there by train is to go into London and back out on the different line. (2 HR train, 5k a year) versus a 25 minute drive.

There is no public transport ACROSS country here.

I thought 40k was a lot until my husband reached at point. With increased energy bills and cost of living, two children, we are no better off than when he earned 25k. We only run one car, had a UK holiday, don't go out for meals, cinema, manicures. Wear high street clothes etc. There is nothing left at the end of the month. Sometimes I look at my bank statement and try to work out where the money has gone, but rarely can I find luxuries ( takeaways etc) on it.