Average incomes

[flabbergastedfinances]

Found out that the average family income is around £30,000 a year and I can not believe it. I don't know a single family on anywhere near this low, lowest is possibly 70k mark between two teachers but majority have two earners pulling in 40+ each or one higher earner on 80/90k+

How on earth is 30,000 even possible in light of minimum wage and benefits/tax credits etc? What is even more shocking is that I used the where do you fit in calculator and we are apparently in top 98% of families in the uk. No chance, absolutely no chance.

We might have a high ish mortgage (still only £1000 so not outrageous) and have slipped into bad spending habits (Uber's, eating lunch out every day, new clothes now and then) but we are hardly excessive. We can't afford to run two cars, can't afford foreign holidays, can't afford the posher shops like Boden or northface new and yet this chart tells me we have it better than nearly everyone else in the country?! What am I missing?!

We have a child in childcare a few days a week, so that and mortgage are biggest expenses but combined that's only £1500 and I see everyone else buying £300 coats, spending 1000s on holidays, children in private schools and I am utterly stumped.

How can the average family income be £30,000? Which families are surviving on that? None I know that's for sure and I just refuse to believe that's an actual reality

Why are you even worrying about it? You clearly have enough money ... be happy with that.

OP are you taking the piss. HCAs, supermarket workers, Teaching assistants, admin work and other common jobs etc have an average salary of about 12-15k so if you have two people in that sort of job then clearly their Income would be £30k
If one has given up work for childcare then even less. Don't be so bloody naive.

This reads like a very bad journalist trying to get easy info to write a story: don't encourage the OP. She's clearly educated and maybe not as dim as she's coming across !!!

Ps here in the Midlands even fairly senior jobs eg supervisor of a dozen staff pays £25k tops. London is the outlier and plenty live on minimum wage there

I don’t get it either OP. Me and my partner are both nurses and make about £65k between us and we’re supposed to be badly paid - who are these nurses using food banks??

We earn 70K between us (mid 20s) I see this as very high and consider ourselves extremely lucky that we can live so comfortably!!! Lot’s of people are not in this position.

We have an income of around £30,000 a year. However we also own our home outright and have a fairly substantial investment portfolio that we inherited. We don't feel at all poor or struggling - far from it, we feel lucky.

Bloody hell. I suggest you get put of your privileged bubble and maybe find yourself one of these fantastic jobs that pays over £30k a year then because you can tell you have never had money troubles if you cant afford a bloody holiday on £5.5k a month.

Honestly disgusted by your post.

I work in a job that needs a specific qualification but only get £15.5k a year on 32 hours a week. Thank God I love my job.

Our combined income is around 33k but that's before deductions. We get no benefits except child benefit.

We're ok, but I do worry about savings and pensions and not being able to put enough in them, unfortunately we've had a few expensive years, having to replace the car, fix the roof, sort the boiler out, get a window replaced etc. Day to day though we have a roof over our head, can afford to eat and turn the heating on. We do day trips rather than holidays though.

I used the where do I fit in site and it said this so that's what I meant by 98%

I'm not dim, I am really grateful for everyone who has commented and feel like I've taken a lot on board. Thank you to everyone who explained or broke down the numbers for me. I do live in a bubble, husband is in charge of money and that is embarrassing to admit after everything.

@flabbergastedfinances
I'm a little curious as to why you spend all the money on childcare.. and haven't gone back to work? Especially if you are 'struggling' financially...?

Cant be real. Your taking the piss op

I'm replying to your op...haven't read all 13 pages. Our household is on 21k a year. And that's an improvement on our last 4years

WOW! Sounds like you just want to brag? How ignorant are you

Credit to the Op for sticking around, accepting the comments and being prepared to learn.

Whitelaundry she doesn't say and probably doesn't know.

Unless you understand how the figure has been calculated, it's meaningless. And may also be meaningless if you do understand the calculation.

Pool life guard was mentioned as a NMW job- well my 21 yr old neice is one and earns over ten pounds an hour- definitely not a NMW job!

Ffs our income is Circa £90 and I've nrtft but even I can see how privileged we are and how others doing fucking amazing jobs on substantially less!

I've been a single working parent years ago so I totally get how robbing Peter to pay Paul works.

30k is the average (median) disposable household income, so in other words - after taxes. That’s equivalent to about 39k before tax if there is one earner.

That’s around 2,500 a month which is only £300 higher than our rent for a 2 bed garden flat in London near great schools.... it’s all relative!

I think 90% of families I know earn 30k or less including myself, I'm
In Cornwall where this is a very normal wage

Wow OP I haven't read the full thread but I know plenty not on 30K, including our household, nowhere near. DP is a teaching assistant and I am a student.
I don't understand how you can't afford to run 2 cars, I managed to still run mine as a single parent on benefits and if DP actually passed his test we could scrape enough to run a second. What exactly are you trying to run?

She came from Greece she had a thirst for knowledge
She studied sculpture at Saint Martin's College
That's where I
Caught her eye...

husband is in charge of money and that is embarrassing to admit after everything.

I hate reading this so much! I have a female relative early 60s when her husband passed she realised he didn't have a pension, they were in debt and had nothing. She didn't have a clue about their finances.

Come on! It's 2019.... Stop leaving the finance to your husband!

@Waxonwaxoff0
*I get
£175 a week wages (after pension contributions)
£120 a week tax credits
£20 a week housing benefit
£20 a week child benefit
£100 a week maintenance

So £435 a week, which is £22,620 a year.*

If these are net figures, then your gross income is £28K+ especially since you you have already deducted pension contributions so you need to add that gross sum on which would probably make your gross income £30K+.

I don't think people on this thread are comparing like with like and are mixing up gross and net incomes.

I'm quite confused too. Recently I've seen someone in the advice column of the FT asking is they're going to lose child benefit since their income has surpassed £50k. With all the tax credits, child benefits and housing support, I'd assume two-income households outside London still easily make over £30k.