AIBU - We’re struggling to get by on £200,000 a year

[BreakingDad77]

next.ft.com/content/d6f1e58e-20c9-11e6-aa98-db1e01fabc0c

Just actually gobsmacked by her comments -

“In theory, with our household income, we are in the top 5 per cent of the UK population and yet it does not feel that way,” she says. “If you’re earning millions of pounds, then you’re OK — and at the other end of the spectrum you get everything paid for. We are caught in the middle where we are paying for everything.”

Yeah because you know those on benefits get such a cushy deal...WTAF

Just all feeds into why UK is one of the mist unequal countries in Europe.

Its ironic as with the EU ref Brexiters going on about how all the other EU countries are crap and yet we have some much bigger problems closer to home.

[cosytoaster]

Totally agree with Mrs DeVere
I'm on a low income and most definitely do not get everything paid for. I also don't begrudge the little help that those who are even worse off get.

[Roystonv]

Will be flamed but income has nothing to do with class.

[enterYourPassword]

Hodooooooooor

I'd have believed you* if it weren't for the same vitriol when someone asked for advice on a thread last week about paying school fees.




*not 'you' specifically

[ChazsBrilliantAttitude]

Yet another person who mistakes discretionary spending with necessary spending.
We have a high household income and any squeeze is of our own making. We chose to send our children to private school nobody forced us to do so. We chose to live in the house we do in London, there are cheaper alternatives. It is a million miles away from having to chose not to eat so your children aren't hungry when tax credits have mucked up your payments.

Off to look for the world's tiniest violin!

[SuffolkNWhat]

We have a joint income of £70k, 2 DC with childcare costs, mortgage etc and we don't consider ourselves the squeezed middle, we cover everything we need by cutting our cloth accordingly. We don't live in the SE though, my DSis & BIL do and I'd consider them the squeezed middle far more than us.

[ScrambledSmegs]

How on earth is she complaining on that level of income with only one child? It's crazy. We used to live in a more expensive part of London with a lower joint income than that and two children, and we considered ourselves to be living pretty comfortably.

[sharknad0]

So they work full time, pay 40% tax!, get absolutely no help whatsoever and try to get the best start in life for their kids.

I can understand where they are coming from. Nothing wrong with Croydon, but it's hardly the poshest London area ever. It tends to have quite a bad reputation, but £700k doesn't get you a big house within the M25.

All the time you have to bitch about her on Mumsnet, well she is at work. If you think you are "rich" with a £100k salary (BEFORE TAX!!!) in London, you are grossly deluded. The same income without work, a trust fund let's say, would be different, but they are working for it! Before moaning, check the cost of housing, transport, tax and school. And don't tell me they should move if they are not happy, they would struggle to find the same job elsewhere!

Loosing half of your salary in tax is a disgrace. I wish I had the choice to work part time, or not work at all and ask for financial help, because why not. What a joke.

[myshinynewusername]

Anyone got a microscope so I can locate my violin?

[Cornishclio]

I don't think £200k combined gross income can be anywhere near the "squeezed middle". London property prices are expensive but still on that mortgage they should be more than comfortable on that income unless they are bad with managing money and have lots of debts. I have often said people tend to spend up to their income unless they are financially savvy. Unfortunately there is a tendency in London I have noticed for those who live there to try and maintain a facade of wealth. Posh car, private school, luxury holidays, eating out all the time and posh health clubs.

[LisaMed]

The thread that brought me to mumsnet many years ago was one where someone was talking about this sort of situation, but without the belief that those on benefits were better off.

They had committed to a large mortgage, second home in France, big cars etc etc and now while they all this status they couldn't afford a coffee in Starbucks. They couldn't afford basic shopping, and made choices between one necessity and another. They ran out of tea and coffee and couldn't afford to buy more.

So they were wealthy and poor at the same time. I can understand how it happens. I don't buy into the article completely. I consider us very well off on a lot less, but we have less outgoings.

[HildurOdegard]

They paid 200k for the house.

It's now "worth" 700k.

HUGE difference.

[LisaMed]

If interest rates go up with the mortgages that are around it will get a lot worse for those in her position. I am old enough to remember the days of mortgages at 15% or more. You could do that when a decent semi was @ £50k. I think it would cause havoc now.

[Damselindestress]

Wish I had her problems! She doesn't live in the real world where people are genuinely struggling to get by. She has more than enough money to live on so if she is struggling it's a result of spending on lifestyle choices and luxuries. This statement from the article resonated with me:

"Low-income families across the UK will find it hard to stomach such sentiments after six years of public spending reductions and cuts to benefits, alongside the effects of a slow economic recovery. Incomes for the top tenth of earners confer life choices and career opportunities not available to those at the bottom of the scale."

[LisaMed]

btw I am speaking as someone who is really stretched as we need to find a new fridge and while we will be okay, it will be a hit to get one for £100. We are not badly off at all, but nothing like this article.

[sharknad0]

MrsDeVere

I am really not trying to be sarcastic, but HOW? A rent for the smallest 2 bed flat is (a lot) more than £1k a month, adding childcare, transport, etc.., I honestly wouldn't have been able to afford a child on £22k a year.

True, they could have chosen to put their kids in state schools, but frankly, have you seen the schools in Croydon?

[Liiinooo]

I live near the poor hard-up woman and 700K would buy a nice semi or small detached house but not a mansion. A mortgage of 600K would be about £2500 a month leaving her well in excess of £7500 a month (unless they have massive debts or other families to support).Even then they would hardly be destitute. Anyone who thinks that is ' squeezed' is bat-shit crazy and needs a kick up the bum.

[ChazsBrilliantAttitude]

shark

I think you'll find most people in London live on less than £100K pa. data.london.gov.uk/apps/gla-household-income-estimates/

metro.co.uk/2015/11/18/how-does-your-salary-compare-with-the-rest-of-the-country-5511194/

Both the median and the mean salaries for London are below £100K pa.

[Liiinooo]

Ooh - just seen the comments re Croydon state schools and am affronted. My DDs both went to state school in Croydon and came out with very good A levels and went to excellent universities. And not in the dim and distant past but recently. Like any area there are good and bad.

[AddictedToCoYo]

They paid 200k for the house.

It's now "worth" 700k.

HUGE difference.

Even less need for sympathy then. Their mortgage must be tiny in relation to their income. I'll bet they've got a couple of BTLs stashed away somewhere in the Midlands or something.

[luellabelle]

Utterly ridiculous. We have a similar income in a similar part of the country and live incredibly well. We have 2 kids in private schools, a lovely house, 2 decent 3 year old cars, plenty of savings, a cleaner, weekly babysitter, eat out whenever we fancy and 2-3 overseas holidays a year. We are incredibly comfortable and rarely have to think about money. If she's struggling then she needs to get a grip. I feel extremely privileged to be in our position. We've lived similarly, albeit with less savings on half the amount.

[Verbena37]

That's not about being squeezed, it's just that they just aren't able to manage their finances better.