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.

Average rent on a 2 bed flat in London£2,200. Then council tax, bills, food, insurance, Christmas presents, holidays, hobbies transport. Not poor but not rolling in it.

Yep, our joint is just over 100k and DS nursery eats up half our monthly joint salary every month, then with everything else taken off (mortgage, bills, living costs) we feel like we're pay check to pay check. No we can't afford holidays or luxuries at the moment because of the living costs

Unless you pay into a pension, which most people do. Then it will be less

What's your rent/mortgage? We have a similar ish income to you... slightly less but feel fine. Not rich but we can certainly afford clothes!

I’m a single parent on £50k and honestly I’m struggling. Two years ago I dreamed about earning this…

my parents can’t believe that I would have the cheek to say I’m struggling when on £50k, they think I need professional help. However the way I look at it is my take home is the equivalent to two people on minimum wage and they wouldn’t be berated for saying they can’t manage on what they have.

the cost of everything is through the god dam roof, money just goes 🤷‍♀️

Here we go again…. 🙄🙄

It's London. You'd feel wealthy in most of the UK on that income.

I so agree with you. Thank you for that post.

And it pisses me off when people say they can't/won't drink tap water.

Yep, and/or have student loans. I earn 50k and my take home is closer to £2800.

I have no experience of London, but if the OP is struggling on £100k then it seems a no brainer to move to a more affordable area.

I like others here am gobsmacked that £100k is looked upon with such disdain!

We both work, and our household income is less than half OPs. We accepted that holidays were out of financial capabilities years ago, and going out budget is limited, but these are sacrifices we've been happy to make in order to plough everything (time & money) into giving DC a good life.

Ok, but that still leaves 2,467, which is nearly 1,000 more than I earn in a month, and that is what we live on.

You don't feel well-off because you so deep into your life that you don't realise you have many many choices that people with less money don't have.

I am a single parent, and am fortunate in being able to put a significant amount into my pension, own my house with a mortgage, own a 2 year old car outright, have a Nanny for my DC, have a fridge full of food and turn on the heating any time.

I have very little in savings now (everything went into the house last year) due to my lifestyle. If I really wanted to cut everything back I could probably save a decent amount from my salary.

Possibly you could do the same OP.

DH and I earn just over £50k between us. We recognise that we are very lucky that we can pay our mortgage, bills, buy our children nice things and a few luxuries monthly. We can’t afford holidays but we could if we cut back on other luxuries and saved up instead. We live in the south west so not the most expensive but definitely not the cheapest either.

We would be thrilled to earn £100k between us!

You probably wouldn’t get the same income for the same job out of London.

Don't rise to it people..... half term still has a way to go!

Seriously?? Once I hit £50k I suddenly felt like I it was the right amount of money for having a pretty stress free life in terms of money.

100k won't get you very far in London especially if you have children but to say you don't have much money with a household income of 100k if pretty tone deaf when lots of households are having to chose between heating and eating

Rent alone in London can be £1800-3k a month. It’s a bloody circus when it comes to housing

No. Op stated they both earn £50k, not one person £100k.

Hahahahaha

Have you the slightest clue what little incomes some households are having to scrape by on? Try the £14,000 some London households are having to scrape by on. One word - perspective.

The median household income in London is £36,800, says google.

My heart bleeds for ya' OP, gushing it is.

We are on 90k and live in the North. We can’t afford meals out or holidays abroad but that’s because we are paying loads per month on nursery fees and also have a low tolerance for debt - no credit cards and everything has to be costed in. Once our youngest is 3 and we get the 30 hours we’ll be able to afford nice holidays and relax a bit more but will probably be cancelled out with our fixed rate mortgage ending. I also feel that on our combined salary we should be laughing but unfortunately not!

Do people not understand the actual cost of living in London??!!!

It's all relative folks!!!

Omigod. This is ridiculous and offensive.

I live in an area where average rents are either the highest in the country or nearly the highest. Like everyone else I work with, I work seven days a week and should be working now.

You are extremely privileged. Not only are you highly paid, you live with someone who is highly paid. You must be wasting your money.