To think £30K is a decent salary?

[priceisright]

DH earns that. He is under 30 years old. I earned that before but now earn far less due to wanting to be there for my son all the time, and taking a considerably big pay cut when going PT in a less skilled role.

Between us we have about £45K a year. I feel well off... We go abroad twice a year, can buy luxuries, no worries about bills or food, save a small bit. I feel very privileged.

If I worked full time, we'd earn around £55-60k between us. That seems like loads to me! I feel as if my life is already very comfortable so to earn that would be even better.

AIBU to think 30k is a decent salary? And £55-60K combined salary is fantastic?

I do wonder what people spend their money on. I say that as someone who wastes a lot of money buying baby clothes and eating crap on rubbish.

We live in the South East. Currently saving for a mortgage, but rent is £900 per calendar month if that helps.

This is exactly why the mega salaries in London don’t really mean anything outside of it. My brother earns an eye watering amount in a job that requires him to be in London but his living costs are phenomenal compared to mine. It would sound crazy to say our disposable income was around the same given the disparity in wages but I don’t think it’d be far out as my mortgage is so tiny and everything is cheap here. If you own a house, have a relaxed pace of life without a crazy commute, I’d say you’re lucky.

How much are you paying into pensions?

Out outgoings as a family is £50k including mortgage , childcare and food etc. We live in London. So £30k as a household would mean living on the breadline tbh

I am now wondering what the average commute costs are outside of London.

refraction My salary reached £30k just before my 20th birthday. I'm a PA. Started off as a 'junior PA' role at 16, became a 'proper' PA to management before I was 18, took on my next role covering for the EA on Maternity leave and she decided never to return. I took her space, I done a good job at it and was offered it. All within the same company

Left that role to something more local to my new area for £30k. Earned £28K at my best in the previous company

Is Beds SE? I'd have said more Midlands tbh, certainly not expensive SE. If you lived in London you'd be absolutely struggling

Midlands? Really? I'm 5 mins drive from Luton, 15/20 from St Albans/Harpenden. Hardly the midlands

Can get to St Pancras station within 40 mins

Thanks Price. You are doing really well.

I like these threads. Maybe it's just because I am nosey.

We don't earn loads, about 5k after pensions. However we are lucky to be Londoners so got on the ladder early & have family round the corner who help with childcare. We dropped our income as I chose a new career after DC but it means I'm p/t & tto so limited childcare costs. I have a 20min walk to work & DH 30 min tube ride. Plus I'm lucky to have family who helped with a deposit & have holiday homes. I recognise that my disposable income is higher than many on similar wages.

”My point was they are not ludicrously low. Just low.” Why is your assessment that it’s just low, more accurate than my assessment that it’s ludicrously low? Who gets to say?!

”Yours are eye wateringly high.”

They are high, but why eye wateringly so? Compared to ludicrously low, yes. But not at all abnormal. Hundreds of thousands of people commute into London every day and none of them would bat an eyelid at those costs, because those of them who live closer in, therefore have slightly lower transport costs, will more than make up the difference in increased housing costs.

Most families run car, and according to the link I posted earlier, average costs per month including the cost of the car is £388. In a family with two people working, that would usually be either 2x £388, total transport costs of over £700, or one car and someone else having public transport fares.

Most people having costs of a tiny percentage of that is definitely not the norm! And fine, take out “ludicrously” if you like, whatever, but my point is the OP’s travel costs for her family are way under average.

I would like a bigger home but the idea of an expensive & long commute with family further away doesn't appeal.

Most people having costs of a tiny percentage of that is definitely not the norm! And fine, take out “ludicrously” if you like, whatever, but my point is the OP’s travel costs for her family are way under average.

I think your viewpoint is skewed because you commute to London and pay London prices. I don't know anyone who can afford to spend almost £400 per month on a car - that's more than my mortgage!

DH and I both got 2nd/3rd hand cars and bought them outright. We pay fuel and insurance and put some money aside each month for MOT and service but that's about it. The maximum either of us would pay per month for all of those costs is £200.

If you lease your car or have a finance agreement then naturally that will bump your costs up. Equally if you have a big car with a big engine, that will do likewise. I fill my car up each week at a cost of £30. Insurance is less than £400 a year. Tax is £30 a year. I put some savings aside each month to cover my MOT and annual service, and things like new tyres when they're needed.

Most people I know can't afford to spend a third of their income on their car (which £400 is if you earn minimum wage).

I like these threads too and it's absolutely because I'm nosy!

I’m nosy too and love these threads, I also enjoy all the rich house poor house type of shows.

How much are you paying into pensions?

That! It makes a big difference of both are paying a good amount compared to not paying anything in at all.

”I don't know anyone who can afford to spend almost £400 per month on a car - that's more than my mortgage!”

I don’t know enough about the finances of people I know to be able to tell what they can afford to spend on transport, however I was just using that average figure based on research, which I assume is relatively robustly comprised and reasonably accurate.

It's ok but perspective...son just started apprenticeship from school. Starts in £15 and raises to £34k in 18 months.

You wonder why bother with university and debt aside from 3 years of partying.

I think a big part of it is:

You have only one child to pay for (I'm so sorry to hear about your DD )

Small children make holidays and general day to day life a lot cheaper. With two children we've needed to pay for an extra room in a hotel or choose more expensive accommodation, travel during school holidays, get a bigger car, and then things that are free when they're small you eventually have to pay for - or the things they want to do/have are more expensive.

Your childcare costs are pretty reasonable as well even for part time.

Having said that we don't earn much more than you and have two children and live in an expensive place with high childcare bills and our quality of life is pretty good. We aren't saving much though.

Some ignorant people on this thread. Beds is not the midland but is the traditional home counties and quite obviously the south or south east.

Not all of the south east is extremely expensive just like not all of the north is extremely cheap.

Beds is not the midlands, bloody ech.

Also some people do have more outgoings and live to their earnings but they need to accept that that is a choice and less money means less choices.

There are people with high incomes and low outgoings who choose that way to live and enjoy it. It doesn't mean that because you earn more that you have to spend as so many people on this thread have said.

It about more choice for housing, schooling, extra curricular, holidays etc.

And people please go on rightmove and look that there is housing in the south east at semi decent prices. It's not all high priced houses and high earning areas.

We have an income of less than £20k, I would love to earn what some of you are earning! A lot of you also seem to be earning high salaries. £30k would be a luxury

I wouldn't be able to live in that. when I worked my childcare costs alone wouldn't be covered. My mortgage was £1.3k pm and train fare £450 pm just to get to work then suitable clothes etc just adds up. My house was tiny as well and I'd paid off a lot to get it down to £1.3k pm.

Me and my DH earn just under £30k each (I work part time so could earn more but choose not to) and live in SE London. We have a mortgage, 1 child, decent pensions (public sector) and savings.
For some people £30k will be fine.

My partner earns about 30 grand. I don’t work at the minute. We have two children with additional needs, finding and holding down a job he hard. But anyway we manage on 30 grand. I admit do get disability living allowances for my two (not means tested and not affected by earnings). So it may be nearing 40 grand if you calculate extra earnings in benefits.

Our bills are paid, we eat, we have a nice car. We don’t have holidays. Not bad one in 6 years but we have take away once a week, days out etc. we own our own house though. Our mortgage is half the price of houses privately rented in our street. We’d really struggle in private rent I think.

Just realised how bad my doweling and grammar is in my comment!

Spelling - omg

DJA1511
Yes we’d struggle in private rent too. Mortgage is only £700 for a large 3 bed in SE London. Rent would be at least twice that if not more.