Knowing someone’s finances

[Missrabbithasfaintedagain]

Less of an AIBU and more a who is right

Im a nanny in someone’s home and during a conversation, a friend asked me about what my employers do for work. I later said in the conversation that they are fairly well off and comfortable. She says I can’t have any idea about their finances at all.

and while I will happily I don’t know for sure that they aren’t in huge amounts of debt with crazy amounts of loans, I can fairly confidentially say that they are comfortable?

my argument was that I see their smart metre readings every day and their usage, the fact they tell me (during the winter) not to hesitate about putting the heating on if I’m cold, I see exactly what they have in the fridge and cupboards (where from/quality/tons of fresh produce topped up every few days). They also will openly have conversations about what they need to pay for coming up etc around me with no signs of stress or mentions of budget. From working in their home, I see what clothes the children have, the holidays they go on, what possessions they have. All good quality things and an abundance of them.

Like I said they could be in tons of debt but from knowing their professions and that they are high earners surely I’m not wrong in thinking having all this insight directly from within their home means I have a good indication they are genuinely just comfortable financially?

I think you’re right, you can definitely tell from what is said in the house whether they are financially comfortable or not especially if they talk openly in front of you. They are also employing you as a nanny so I don’t think it’s unfair to assume they are comfortable

Surely the fact they can afford a nanny says all you need to know

If they can afford a nanny they are more than comfortable.

You presumably spend 40 ish hours a week in these people's home, you'd have a very good idea of their finances I'd say. How strange of your friend to think otherwise.

This

People who have private nannies aren't struggling financially.
YANBU.

Yes, for a start they can afford your salary, employers NI contributions, pension and any other costs like your food and travel while you're working plus maybe if they pay entrance fees if you take DC to the farm or whatever.

So tens of thousands of pounds spare every year right there.

I definitely am not paid tens of thousands or receive pension contributions 😂 but I see your point

But you should be if you're a full time nanny

NMW is over £20k pa for a 37 hour week, nannying usually pays well above NMW and many work longer hours than that. Plus your employer is legally required to make contributions towards a pension for you (unless you're under 22 and very part time so earn under £10k pa).

So in reality, having a nanny probably costs at least £30k pa, likely more. And that's out of post tax income.

If you’re earning over £30K, that’s tens of thousands. And they should be contributing to your pension!

Of course you can have an idea whether they’re comfortable or not - your friend is daft.

She doesn’t say she’s full time though?

Because I’m not haha! The children attend school 6 hours a day and I only work from school pick up.

Yeah I wondered why people were getting bent out of shape about you not receiving pension payments. They don’t even know your hours!

FWIW, I don’t think it’s weird that you can take an educated guess of anyone’s finances, least of all your employers’. If you know someone’s profession and standard of living, that’s all you need to know really. You don’t need to sift through their bank statements to draw conclusions.

Me too. £30k a year is more money than I could ever dream of. I’ll never see that kind of salary in my life. 😂

I would guess that's a fairly good analysis, not 100% foolproof but seems quite accurate.
The other factors are then how much is on finance/credit cards and or if any is inheritance.
Unless it's from their professions alone.

Well you didn't say you were part time, and the cost of employing a nanny is a lot more than just salary, you have to pay employer's NI contributions and pension if you earn more than £10k pa.

£30k a year is more money than I could ever dream of. I’ll never see that kind of salary in my life. 😂

Why not, OP? If you wanted/are able to work full-time then it’s entirely achievable just doing what you do now - being a nanny.

Are people getting ‘bent out of shape’?

Just assuming the OP was working full time - which while obviously wrong, isn’t that weird, is it?

And totally agree with@NoSquirrels.

Yes, I think some posters were. It’s ok, we don’t have to agree.