"We're on good money"

[FunionsRFun]

When a poster says they are on good money or a good salary, what figure comes into your head? For me it's £70k for an individual, and £100k for a household.
For what it's worth I am not on good money!

I'm on around 48k and I personally think it's very good money.

As it’s on here it must be 7 figures plus - when in reality they probs earn 30k.

To me it’s relative to their outgoings. I take it to mean they can live a comfortable life and still meet all their financial commitments.

Yes relative to outgoings. Could be anything from 40k upwards.

Think it varies and is relative to outgoings.

I'm on just over £40k and think that I'm on good money. I earn more than most of my friends.

I've heard people brag about being on so-called good money but don't have anyhting to show for it, EG, possibly still livng in a rented place, hire purchase car that is nothing special and banging on about cost of living

Earning "good money" is only part of life, looking after it and spending it well is another. The nuber of times I've seen jokers lose everything as soon as they lose a job/etc

It's absolutely relative to outgoings. Our household income is just shy of 80k, which feels high to me. We have a small mortgage and fairly small running costs, so we are quite comfortable. If we were younger, trying to live in Zone 4, had kids in childcare, high commuting costs and a massive mortgage....I think we'd be very stretched.

I can never tell. I usually ask if it’s relevant to the discussion.

I live in a fairly poor area. The entry level admins at my company are on 28k. It’s good money for here. House prices are still low. At 4.5 multiple you could buy many houses or nice flats on your own without a partner.

I honestly never know what people mean. I wish they would be specific.
Especially on here, where we're all anonymous!

Completely context dependent and on here I just assume people mean they should be able to afford the thing under discussion. So if someone was talking about struggling to afford groceries despite being on good money I’d make different assumptions to if they were talking about paying school fees.

Surely it depends on outgoings?

You could be on good money on £30k if your outgoings are such that you have lots left over after bills are paid

Yes, it's absolutely relative to outgoings. My salary is about 78k, which I always thought was really great money, but with interest rate hikes my mortgage repayments are now over 40% of my take-home, which has moved me from having some money to put into savings each month and seeming to have enough for whatever I needed, to not having much financial wiggle room at all. I'm a single parent and while I wouldn't say I'm struggling, after childcare and other non-negotiable bills, there's definitely not money to spare for bigger outgoings and I've been consciously looking for places to cut down a bit more. I'm not worried in the long run as my mortgage is paying for a nice apartment and I'm paying into a good pension, so I still feel that my financial situation is good, and I absolutely chose to buy an apartment at the upper range of what I could afford - but tbh the COL and interest increases took me by surprise - I hadn't expected in my mid 40s to be feeling the financial pinch I did in my mid 20s.

You're also penalised for being a single parent. 2 people earning half your income each take home far more and still keep CB.
No figure comes into my head OP because it's all relative. The 'least' I'd expect is 50K in a very cheap part of the country.

Actual sums are IMO pretty meaningless unless you know someone’s circs and where they live - very expensive housing costs, or not.

Just over £100k household income here and I'd say that's good money. But I'd also say an individual on £45k+ is good money and household income of around £80k+ is good money.

Totally agree with previous posters when they say all relative to your outgoings. I ‘make very good money’ and I’m a single parent and have to pay a £1500 mortgage every month, (south east) several hundred pounds for my kids uni costs a month, £800 train travel a month to work, then all household bills/food/utilities etc

im not struggling, I totally admit that, but I don’t have many luxuries outside of what I have to pay out every month; I’ve leased the same car for the past 7 years (just a qashqai), I use my parents house in Spain for holidays (so that’s very cheap).

there is a perception on that salary that you’ll have a driveway with a Porsche, luxury Caribbean holidays etc etc. my house is in not a nice part of the south east or in a nice road but when I brought it 7 years ago it’s all I could afford.

I have friends who earn a lot less but who are much further ahead with their home ownership journey or have already paid their mortgage off. I think that makes a huge difference.

I am looking forward to the uni costs finishing and, over the years, my mortgage decreasing. That wil give me much more breathing space

It depends where you live, if you have kids etc - I’d say it really varies. If you’ve only ever been on 19k then 30k would feel massive but someone else on 60k may disagree.

When I hear that I instantly think £35k+ each.

Depends personally on situation, for example 40k for a family household with multiple kids. Not good money. 40k for a single person, good money

Id say anything above 50k a year is good money.
over 100k is great money and over 150k is Rich rich Money 😂
my household is about 37200 a year for 2 adults 2 children and we have enough BUT we don't get any luxuries for that, we don't go on holidays or out to eat and events, we don't buy new clothes every month and i get my hair done every 2 years. BUT we don't struggle and i could save a few hundred a month if i was careful with other bills ( food bill is the most expensive due to a specific diet my child and my husband has to be on)

Also depends on your age, so if you've been working for 30 years, making your way up the ladder, your idea of a good wage would be different from a younger person just starting out.

It's all relative. A couple of years ago we were circa £70k, low mortgage rate, one child but no childcare costs. We had a really comfortable life, didn't have to worry at all. A redundancy, a failing business and the cost of living got involved and now we're nowhere near that with a much higher mortgage and it's rubbish, but compared to some we're still better off.

We live in quite a rural town and here anything over £35k ish is considered a good salary. But we have low outgoings- there isn’t much to do except country walks and the occasional day out to the nearest city (60 mile round trip). My dh earns less than that but walks to work. We don’t spend much. Own our home outright as downsized from London. It’s completely dependent on so many things isn’t it.

Surely it will depend on area - what good here won't be in London or even south east - and industry.

You can be on good money in some industries ( thinking heritage sector as one child is wanting to go into it ) and struggle to have a good standard of living.

Then personal circumstance will affect how you feel out your income ie high mortgage or kids.

Definitely relative to outgoings.

I worked with a NHS surgeon (also had a private practice), he was married to a London based psychiatrist, their household income must of been quite high but he was constantly skint. 4 kids in private school, 2 very nice cars, large house in a sort after area and constant trips away.

We have a household income of around 40k but are doing ok(ish) because our mortgage is very low and so to are our outgoings (ie we are boringly sensible).

We would live a very comfortable life if we were on 60k+, which we could probably achieve if I worked full time (currently work 12 hours per week) but I have health issues. It’s a vicious cycle as I could probably get the health issues under control if I worked more and could pay for private healthcare and therefore earn the extra money etc.