To wonder what it's like to earn £200k per year?!

[ABCD1000]

Friend's husband earns just over £200k per year, with an annual £150k bonus for the last few years! No jealousy (much!) just wonder what life would be like?!

Christ this thread has me bummed out, ignorance really is bliss!

My partner just recently got a wee pay rise and is now earning £1000 a month (dp is a chef), it's meant we've finally been able to afford to fix our washing machine and get haircuts (I hadn't had my hair done in about 7 months!).

If we were earning money like that I think we would buy a nice caravan and try to travel as often as possible, and replace dmils old mobility scooter. Although it would mostly just be life changing to have all the options and open doors that a salary like that would bring... will bring! (bit of positive thinking )

Dh earns similar money. It's fine. It's nice not to worry about paying bills or have to save for too long for big ticket items. But we don't go for new cars, we don't have a big house etc.. being able to treat family, help out financially and for me to have the choice to be a sahm is what I am happy about mostly.

Having grown up working-class, there’s very little to gripe about having significant money.

I think those posters saying it's stressful earning that amount have never had the true stress of not being able to afford food / rent / heating

agreed. I grew up poor, and I was poor in my early 20s. I grew up without always having enough food, which is part of why being able to buy anything I want at the grocery store is my favorite luxury.

I think, though, that there is a sweet spot for income where one has enough for everything they truly need and a few "fun" things, and that beyond that, more money doesn't buy more happiness. I suspect that it's about may be 1/3 of the salary/bonus listed in the OP.

I think, too, that's why some people commented that the income "feels" the same. They still have to make choices (every one does) and they aren't any happier than they were with a less money. If you don't have at least that base amount where things are OK, then it is very hard to be happy and money is why, but once you get there, more money doesn't make you happy in the way that people often expect it to.

Being poor just sucks. Food scarcity is the worse, then having to worry about utilities.

There are things about my DH's job that are difficult for me. I'd definitely pick them over being poor, but I would have preferred him to have a normal job and us to have a normal life. The question was what is it like to earn 200 per year, so I answered what it is like for me to be married to someone on that kind of money.

Some one asked what these jobs are: my DH is an engineer and he runs projects or factories. He has the ability to go into a factory that is losing money and turn it around to be profitable, or go into a large international project that is behind/losing money and fix it. He loves his work; it drives me crazy. He has 30 years of experience in his industry, and his income rose gradually. It only started taking off about 4 or 5 years ago.

For those asking about jobs, my DH's job is in insurance. We're in our mid 30s and plan to have our mortgage paid off in 5-10 years.

We aren't in the UK but when we were DH earnt about half of that amount, but I was able to work so our household income was £150k ish.

It's not glamorous. We live in a high cost area to cut down on commute times. Childcare is a killer.

The biggest challenge is managing the stress of responsibility that you have while raising DC who appreciate what they have. For DH it's a huge stress that he is responsible for 100 employees getting paid. He is also an employee at a junior level of senior management. He has had to lay people off and some were fathers of his school friends. It really affected him and of course it's completely changed his relationships back in his hometown. The commitment required is stressful. We have 2 children who are autistic. I work and run my own business too.

We don't spend close to what we make because at any given time this could all stop. We also don't know how much help our DC will need.

As a little perspective in five minutes I'll be up. DH is already moving.

Well my DP earns half that and we are always skint 🙄

Recently had a baby
New house (and all the work and furniture that goes with it)
School fees
Other childcare fees
Commuting costs
Taxis sometimes (Im disabled and we don’t have a car)

He loses nearly half of it in tax
I move in with him next week and OMG even rent and mortgage free it’s going to be tight
What disposable income??

This is unlike my first year as a student
I was a single parent then and with all my grants, loans, bursaries, DD in best nursery in area, benefits and tax credits had a disposable income of £700 a month AFTER food, gym memebership, activities etc.

As your life changes so do your outgoings so now DP needs smart clothes, more work costs, we both need a home office, DD now wants violin lessons and dance lessons. We have no breathing room. We would be better off broken up (financially better off)

And he will be working 7 days a week
I will feel like a single parent
And actually was probably better off as one thanks to the weird tax and tax credit system in this country where work doesn’t really pay that much x

I shouldn't have read this thread I'm Sat here in tears. We have £50 a week left after bills, rent a tiny 1 bed rented flat and have to buy food and nappies for our 18 month old out of the £50. I don't put the heating on till December because I can't afford to even though its freezing now and my little boys Christmas presents are from the charity shop. I don't even have winter shoes I'm still wearing lacy summer shoes. I can't work atm because there's only one decent nursery where we live and he's on the waiting list for it so no childcare till he gets in. But in many ways I'm better off because I get to spend all day with my little boy. Hopefully when he grows up he won't remember his crappy start in life. He doesn't even have his own bed. I'm hoping our finances will pick up next year

I don't earn that much but as I don't pay any tax on my salary (I'm overseas), I bring home about GBP 9k a month, as does DH.

Honestly, we still worry about money. I still groan when the car needs new tires, or the rent is due, or I need to pay nursery fees. As our income has increased, so has our cost of living - we live in a bigger house that is more expensive to keep, we employ a nanny and a cleaner, we drive a big car that is expensive to run etc etc.

I'm certainly not saying 'oh woe is me' but unless you are very careful indeed, I think you just tend to spend what you have, however much that is.

*Cookiesandcake
*
That’s what my daughters first two years of life were like
She doesn’t remember at all and she’s only 4 😂
Honestly they are very resilient and the bond you build with them is more important than anything else

Can you get a bill reduction? They have subsidies if you are struggling for things like electricity and water x

This is for southern water but their are schemes everywhere

British Gas do a reduction too
Not sure about other providers

You can pay £5 a month towards water bills if it will put you in hardship though and although the balance will be outstanding you will still be paying a monthly direct debit which will balance it out credit rating wise

If you stayed in a small house, with a little run around and your dc went to the village school you probably would feel like you were rolling in it...which would be wise and wonderful.

Most people upgrade all three and more, and the huge bills roll in and hey presto the money doesn't last long and you won't be rolling in anything but financial pressure just as most people are now.

Our gas and electric are pay point meters and we don't pay water rates luckily, thankyou though. It's so reassuring to hear your dd doesn't remember, that's the only thing I'm worried about letting him down. I can cope with cold feet in winter because of lack of shoes, I'm not bothered about me only him.

DH earns way more than that and it's nice not to have to worry about bills, I admit I take it for granted. I am the one that shops around, looking for the best deal, even with groceries and petrol. He's the one who spends a lot. It's an obsession with me as I learnt to appreciate every cent not having grown up with much. Mind you my husband has a double life I suspect which makes me unhappy.

RaindropsAndSparkles - you are aware that people on considerably smaller incomes than you also have to get up early?

cookies

It is not easy. I am sorry you are struggling and feel for you with so little to manage on. It sounds like you are managing really well, better than most of us and are balancing your finances carefully. Could you ask for new boots as an early christmas present if you have family?

Your child will grow and become a well rounded adult with the love, time and attention that you give him. All the money in the world can't replace that. Read with him, help him always with his homework and extra work so he can get ahead. Explain the world to him and how he can make a difference. That costs nothing. He will grow into an adult that appreciates everything that he has...no harm in that.

No thanks. That amount of pay is not worth the stress that comes with the job.

littlebird7 that was lovely

This is not a judgemental point but on 18k a month it's a case of better financial planning or saving adequately surely if you don't want to be surprised by bills. I mean actually that's the case at any income level, but if you are earning just enough to cover your basics it isn't possible to plan or save for this, and if you're earning just enough to have a little spare it can be psychologically hard to put that extra away for unexpected expenses.

There is a difference between groaning at a bill and the constant low level sense of panic at not being able to afford the next one, or the despair when a third one comes in a row.

Daisy
While I completely understand 100k isn't a lot once you take into account private school fees/childcare the fact you have no mortgage/rent to worry about is a massive safety net. You can't compare your lack of disposable income too others on this thread who are really struggling. I would argue 100k doesn't afford you the luxury of private school but you at least have the choice.

It’s all relative isn’t it? I’m genuinely shocked at the huge amounts that some people are earning.
Between me and my dh, we earn less together in a year than many of the monthly incomes on here!

My job is hugely stressful, and the stuff me and my colleagues deal with on a daily basis is pretty shocking...I’m assuming though our stresses are very different though to those working in business...is most of that work stress due to deadlines and making money?

We live well within our means, we live in a nice house in a nice area, and we are time rich. We are there for the kids morning and evening, we spend time as a family. We are better off now that we have ever been...... but we have no savings, no spare money, no help with anything, or spare cash to buy in the help. We buy what we need, but not much left for ‘wants’.

I’m happy with my lot, but a tiny cash bonus wouldn’t go amiss!