to think this income, savings and wealth calculator might give people some perspective on where they fit in

[cakeorwine]

It's from the Office for National Statistics. (based on pre Covid)

www.ons.gov.uk/visualisations/dvc1802/calculator/index.html

It uses the OECD equivalised disposable income - so basically it looks at your household and determines the relative income needed. Some people might take umbrage at this - especially with the increase in energy bills. The idea is that certain households need more income for the same lifestyle compared to a household with fewer people in.

For example - a household with 2 adults would need an income that is 1.5 x bigger than a household with a single adult in to maintain a similar lifestyle.

It doesn't take into account situations like separated parents, chilldren being away at Uni, but it does give an indication.

I think it might surprise some people where there income and savings are. But then again, a high income in some places is offset by a high mortgage.

The equivalised income is used in all set of datasets when looking at poverty.

Turns out I am doing ok...which has surprised me.

I’m in the bottom 50%

Bottom 30%

Thanks for the link, that was very informative!!

It only asks for income and council tax. We are in bottom 20% but are in social housing, surely it should take into account rent/mortgage.

Well I'm really surprised by the level of savings people have, seems surprisingly high.

Top 40% but doesn't feel like it.

Top 30% of income, no property wealth as cannot get a mortgage as an immigrant.

I'm quite surprised with my results - I feel very thankful.

What do you mean? Immigrants are able to get mortgages. If you can’t it’s not being an immigrant that’s the issue,

Bottom 10%.

Pretty much smack bang in the middle which surprised me. I always thought I earned a decent amount but tbf it's the sole income in a household of 4 (I excluded the adult child who is earning herself).

I’m really surprised my those results

The savings question and wealth question can be a bit of an eye opener for some.

A lot of people have a lot of wealth. And a lot don't have any at all

I thought we were doing good but we're in the bottom 30% and the bottom 10% for savings :(

Bottom 10% for spending and savings, bottom 30% for income, and bottom 40% for property wealth.

Wow at the savings. I thought we had access to a reasonable amount. Our spending is very low compared to our income / assets though.

Surprised I'm not higher up in the percentiles to be honest. Easy access cash seems ridiculously high.

Purely disposable income

Yes - income after housing costs (and now energy costs) would be much more insightful

But this is OECD - to get international definitions

Silly me was distracted and didn't do the whole thing. Very interesting.

Top 10% for most which is surprising tbh

Property wealth is top 50%

Very interesting thanks for sharing the link

Well we spend too much and don't save enough , no surprise there !

I'm so shocked at the savings bit....

Top 50% for earnings bottom 10% savings bottom 30% for property wealth & spending.

I did use my wage from before maternity though so that will drop.
Our savings have taken a hit the last 2yrs as we brought a house & had to buy a "new" car & spent nearly £1000 on that this year on repairs 🤦‍♀️

If you have paid off a mortgage, it can be relatively easy to start to build up savings.

Especially if you are on a high income.

The savings distribution for age, income type and whether they have a mortgage or not would be very interesting.

The savings has shocked me! We’re high for income, but only middling for savings (and I didn’t think we were doing too badly!). Wonder if ages skew things?