How much did you earn before you felt you had enough to relax a bit about money?

107 replies

uradg · 08/12/2023 22:02

I am in my thirties and feel constantly worried about money despite earning more than average. Is this normal? When will I feel more relaxed about money? It’s a constant source of stress

OP posts:

TheHateIsNotGood · 09/12/2023 19:37

The few times I've felt relaxed about money has never been based on my earnings because amassing money in it's many forms has never been my driving force.

At one point I did start putting myself in a good earnings position and just as I was there, gawdammit, life circumstances changed that as a reality.

So now I crunch it til it squeaks and still wonder how me and ds get by each month, somehow we do. So I'm relaxed really as worry would not be helpful.

WhichIsItWendy · 09/12/2023 19:38

It totally depends on what someone's outgoings are. I come alone is irrelevant.

It's much easier as a couple and even more so if the household income is good and both are sensible with money.

TerrysChocolateOrange · 09/12/2023 19:55

Will come back to this.

Justfinking · 09/12/2023 20:07

Boomboom22 · 09/12/2023 16:13

These replies are ridiculous from the top 1 or 5% of earners. Utter nonsense. If you can pay all your bills and have a credit card for emergencies you are grand.

I think you need to have a decent amount of savings to be able to cover emergencies, having to rely on a credit card can get very difficult, very fast once the interest starts adding up and if you have no means to pay it off

MargaritaThyme · 09/12/2023 20:21

Catza · 08/12/2023 22:05

When I could save 1k a month, I became much more relaxed about money.

Same here. I’m naturally cautious & careful with money, always been a saver rather than a spender, and it was only when my income exceeded my outgoings by £1k a month, I was debt free and I had 12 months’ salary in savings that I felt I could finally relax a bit. It seemed that saving even more was ridiculous, so I started to enjoy nicer holidays & upgraded my car.

TerrysChocolateOrange · 10/12/2023 12:34

We cleared the mortgage ten years early, took out a bathroom and kitchen loan over four years cleared that in eighteen months, and then started to save like crazy, when DH and I retired we had about six months salary saved, we have combined pensions of £50,000 (before tax) a pension pot which we are not touching for another eight years and an inheritance pot with £125,000 in it, we have only just relaxed into spending the inheritance pot.

We both grew up in households where there was not a huge amount of spare money, plenty for day to day, but not much for wasting or spontaneity.

My siblings grew up in exactly the same circumstances as me, and are much more relaxed about money. It really is nature over nurture.

daffodilandtulip · 10/12/2023 14:39

It's all relative. I'm a single parent earning around 30k. It's the most I've ever earned but having no one to fall back on is very stressful so I don't think I'll ever not worry. I save as I go along, eg brought a new kitchen last year, boring things like gutters and windows this year, so my savings fluctuate.

However, I can see the light at the end of the tunnel...my mortgage will be paid in a few years, I'll be debt free in 15 months, DC will be leaving home...so I don't feel like I have to worry forever. I'd hate to feel like this for life. Currently, as long as I have a month or two in savings for if I lose a client, I'm happy for the short term.

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