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.

Pretty surprised by the results. We're in the top 10% for everything except for housing in the top 20%. Wasn't expecting that as we it doesn't feel like we live extravagant lifestyles, and I know so many people who own million dollar homes and spend so much more. It's weird to find myself in the same category as them.

Bottom 10% here, (Me and 2 teenagers) which I knew, slightly above it if I include DS's DLA.

I am lucky that I have a small mortgage, so I dont feel like we are struggling.

I wonder what would happen if it went to centiles and then into the tiny subset of that.

I find variance within datasets fascinating - the median isn't that helpful but seeing data and the spread is much more interesting, especially when you break it down by age, region, job, household size etc

Bottom 50% for income (just) but top 20% for savings.
Bottom 50% for spending as well.

But that savings is generational wealth mostly. Money I have through pure luck, not because of anything I've done!

Uk households have relatively low disposable income for an OECD country. There are high spending households but they are a minority simply because most people can't afford it. What I find surprising is that we are the top 10% in terms of income but top 40% in terms of spending...I really don't feel we can spend any more or be more extravagant!