to be shocked that people think 100k isn’t adequate

[wutheringheights3]

We live in London (zone 2/3 so fairly central for families). We have a household income/wage of 95k-120k each year and it only varies because we’re both self employed.

We own our house and luckily don’t have a mortgage anymore, can afford for DD to have a pony, DS wanted to go to our local secondary school but had the option of the independent sector, as did DD who took advantage of it. We’re also very grateful that we can afford to go away 2/3 times a year (usually somewhere warm in summer for a few weeks, a European city break and Cornwall/Scotland). We also have a lot of savings and have money put aside for the children for university/adult life.

DH and I are by no means incredibly wealthy, just very comfortable.
However, I just don’t understand how people think 100K isn’t enough to live on in London comfortably. Many of DS’ friends parents earn less than us and still live lovely lives in the capital.

Unless your £100k is net income, therefore pre tax income is closer to £200k. Then I’d totally agree. But you’d be comparing apples with pears.

That extra £100k would make a world of difference.

Even without a mortgage, private education and competive pony owning isn’t sustainable on £100k

If you’re going to bullshit anonymously, at least make it add up.

You THINK he works in the city for a tech company? Don't you KNOW?

You 'think' your DH works in a tech company? He doesn't chat about his job much then.

It’s the DH’s step-brother whose starting salary on some vague tech job is £90,000.

No, OP doesn't know the exact details of her husband's step-brother's job. Which seems perfectly normal.

I think it’s odder that she knows how much he earns but not what he does.

I never know why people take the piss so much if someone mentions a pony
I have a horse, I grew up around them and got my first one when I was 11. My parents are not rich by any stretch, and I worked to help pay for it
I earn less than 30k now and have a horse 🤷🏽‍♀️
A kids pony if you keep at home can be incredibly cheap and long term probably works out cheaper than paying for riding lessons
She's not a status symbol, my horse is my escape, and help for my mental health and I would rather eat value noodles all month than lose her

I dont think she was referring to her husband? =s

Yes it’s DH’s step brother, not DH. It’s not always 120K, last year it was just over 98K and the year before 110K.

Oh and both children do not attend private school, one does and she went to a state primary school before moving into the independent sector at 11.

I am truly sorry for offending many of you and I’m very grateful for the few of you who understood that malice wasn’t my intention.

We're in the North West and manage on less than 1/5 of that income.
it's far cheaper to live up here.
I hear people spend thousands just getting to work down south. Then there's huge rents and mortgages.
factor in childcare as I suppose both parents have to work, maybe a cleaner, and I can see why people would struggle.
I can't imagine having that kind of money, not sure what I'd do with it tbh.
It's all relative, isn't it?

Our joint income is £80k

We take home £4900 after deductions and pension

1300 mortgage
900 childcare
150 gas & electric
30 water
140 council tax
60 tv, phone and broadband including Netflix and Prime
50 life insurance
20 home insurance
14 breakdown cover
200 train fare
160 fuel and car maintenance account
45 sofa repayment
150 cleaner
750 all groceries and nappies, toiletries etc

So about £4K.

A couple hundred in savings, split the rest.

As I said, we’re fine, but there’s not loads left. I can absolutely see how if you just got on the property ladder (or rent) £100 could be tight, esp with more than 2 kids.

I’m extremely fortunate - we’re really comfortable and don’t want for anything, but the idea £100k is loads is nuanced.

Yes, it IS a lot of money. The issue is London is stupidly priced and increasingly you need a lot to live here.

You don’t think you’re wealthy? Really?

Is this a joke? 😂
As others have said, if you don't have rent or mortgage then £100k is plenty

I’m in zone 2. Freelance paye and our pre tax household income is around the same as yours. This makes us privileged and fortunate which I acknowledge: however our mortgage and childcare each month eats up around 2/3rds of our income and there is no way even once childcare drops that we could afford private school or ponies (not that we would want to). Going camping this year as family holiday. I’d never argue we weren’t extremely fortunate but the reason you’re living a great lifestyle seems much more likely to do with lack of mortgage to pay..

Struggling with the finances here. Earning 120k. Assume mortgage of £480k on top of deposit. Let’s be generous and say £120k. So you bought a £600k property 15 years ago. If there was little interest you would have to have paid £35k a year - does the pony cost this much. Post tax income out of £120k is say, £70k. How did you fund your lifestyle including children’s school fees on the £35k post mortgage payment income?

A kids pony if you keep at home can be incredibly cheap and long term probably works out cheaper than paying for riding lessons

I’m not sure where you live but I absolutely could not keep a pony in the garden of my three bed terrace...

If you live in London and have a pony it’s not a cheap option.

I think the majority if people would feel quite comfortable if they didn't have to pay for sodding housing! Jesus Christ

@Merryoldgoat true. A house with say 2 acres of land where I am is definitely a lot less than London

It just irks me that if someone mentions a pony on any thread, they're instantly seen as loaded. Very definitely not loaded here!! Of course I would be better off money wise without her but I would be miserable as sin so.. she stays

Pmsl @firemanKing

Whether or not the op is deluded.
Even with childcare and housing costs 100k is okay and people who moan about it should be told to shut up and budget better.

It's not all subjective. If a family is expected to get on and survive on 25k, 55k, 75k then no one should be moaning about 100k.

People in the smaller brackets have childcare and housing costs too. They have to budget too. Everyone has to budget to some degree unless very very rich.

So I think when someone posts on here about 100k then I do think they need a reality check. It's not about competing penny pinching or a race to the bottom.

Everyone should have enough to pay their bills.

But everyone has to choose a home to live in and pay their bills at every level of income. So the 100k brackets and above should accept they do have it easier and it is goady to moan. There have been so many threads on this, we live on 80k and we're broke and why is 100k not adequate???

Well 80k and 100k is okay and is adequate and if these posters opened their eyes they would see people in their areas with far less. Or in a area nearby with far less.

So whilst subjective and everyone has different costs, over a certain level of income I do think people should shut up. As they are not living in the reality of the 90% and because they will have options that those at far lower levels of income do not have.

@yesqueen

Absolutely agree. I watch too many property programs and have been on the verge of fucking off to the country to buy a big house, but I wouldn’t be able to get to work! 😂

You say you have no malice in your thread but the very nature of your post is to put down/belittle others that apparently according to you cannot have what you call a nice lifestyle on the same finances that you have.

You are effectively stating ‘I can do this, that and the other on X amount so why are other people saying they cant?’ which is understandably interpreted as you boasting.

Can you not see or understand that most young families will have rent and a mortgage and that you are a lucky exception.

Rent OR a mortgage

And to those who say that you spend to you income level. Then more fool you. People on higher incomes have more options to save and invest. They literally have more options within their budget. So if they find themselves in hardship, they can cut back and if they can't cut back then why did they never save to cover those times. It's a far different situation to someone just covering their living costs with nothing spare.

And just spending all you income or the so called living up to your income level is stupid.