To not feel that well off with a household income of £100k?

[phalendrina]

Live in London. Both of us are on £50k. We work 9am-7pm. Sometimes longer. Can’t afford to buy yet.

When I was younger I always thought a household on £100k would feel well off. We don’t. Obviously we are fortunate to afford food and rent etc, but we can’t afford long haul holidays or nice clothes.

Move out of London

We moved out of London in a shitload of debt. I was working part time though. Now we're on £100k between us and paying off the debt we can't afford to buy and in our early 40's, well DH 40 next year. It really set us back.

Then you’re spending as much on commuting as you are on housing, assuming you’re not fully WFH.

Leave London and cut your cloth better. I’d be laughing if I had £100k between us.

@Didimum not if you get a job near where you move to.
Most Jobs exist outside of London and if the exact role doesn't there will be something you can do

Cry me a river

You can't be serious!

According to Reed, your take-home pay will be £5,467 a month.

What are you spending that on?

What is your rent? What could you mortgage be if you moved slightly out? Do you hybrid work or in the office each day?
We live in Surrey and our mortgage is coming to an end. Many of our friends in Twickenham, Wimbledon etc pay less mortgage than us!

rent and bills (water rates, council tax, gas/electric) will possibly be £3k

This might sound crazy ... But, you are probably some of the most well off people in the world. You just live with all the other well off people so you don't feel rich ... But you are.

Oh for goodness sake

Threads like this always go well 😭

Our income was over 100k at one time (one income was just over 100k, the other much less) and that was nearly 20 years ago. We were very comfortable but even then I wouldn't have said rich, and we didn't live in London.

So I'm not surprised. However, it's still above average so you won't get much sympathy and with so many struggling at the moment, on far less, I'm not sure it's appropriate to complain.

I say that to myself all the time btw ... I tell myself I am rich and I suddenly start to feel rich. 😂

If would be more helpful if you post details of outgoings, eg rent, utilities, food, travel, loans etc.
People might be able to make suggestions.
There are money saving boards. You'd might be surprised how much money some people waste. Yet others on smaller incomes can save. Priorities etc.

Or change your life.

Move

Change jobs.

Change home.

Cut costs.

Or

A bit of all of these.

Try living on 18k… and yes I work full time.

Wrong. £100k as one salary is what you’ve stated

Two individual £50K salaries will be just over £6k total per month take home

This was a reply to a pp, but it hasn’t quoted it - sorry.

YABU

I honestly think everyone just spends what they earn. Or budgets it, rather - we do save some but we’re on about £110k and there’s nothing left after nursery, mortgage etc. Your lifestyle sort of adjusts to your income.

I always thought I’d feel rich with that sort of income but no. We don’t really go on holiday and a takeaways a treat once a month.

Obvs there’s a lot of people on a lot less and I am grateful for what we have.
You’ll get a lot telling you to jog on though (they’ve started already!)

I wonder if it’s because you are both working your arse off for that wage 🤔

I tell my kids: if you can turn on a tap anytime you want fresh water, you’re in the richest 5% of the world. The rest is just detail and you should appreciate how easy you have it.

I have no idea where I got this statistic from mind 😂

I don't think that you are wrong that £100k should feel very well off.
People might be more understanding if they can see what you spend your take home pay on. If eg £5k is taken up by nursery fees and rent then you might get sone empathy.
However if you eg have 2 expensive cars on payment plans then there is an element of choice there.

but we can’t afford long haul holidays or nice clothes

Yes you can, you’re being ridiculous.