To be in this job and feel poor?

[fedippp]

I trained for seven years, reasonably large student loan etc, to end up age 35 on 58k, and barely anything left at the end of the month!!! Mortgage is 1300 for a 2 bed semi, (up from 800 last year). Student loans are still hundreds a month. I have a car on finance as I couldn’t save house deposit and car deposit, need car for work. I eat beans on toast 3 nights a week. I feel like an idiot. I missed out on so much in my twenties to get into a decent job that I thought paid well and it seems to have been a waste of time! Does anyone else feel this way? I feel so disheartened.

I bought a 2 bed terrace for my first house. Had lodgers for many years to help pay the mortgage. Not anyone's preference but a really sensible move if you're struggling......

You're in the top 15% of UK earners.

I'm in my 50s, self employed and earn about 30K with no job security. Cry me a fucking river.

You are not unreasonable - despite all the negative replies. In a very similar situation and feel the same! Life is so much dearer than it used to be - it was worth the work though as we are still in a decent position compared to some

your net pay may be a lot more because both you and your husband will have your own tax allowance: and you may also recieve child benefit

Haven’t RTFT but YANBU OP

In terms of food, could you look for things reduced with yellow stickers? Or use apps like Too Good To Go or similar.

I agree with getting rid of the car on finance, if you can get out of the contract, and getting a cheaper run around.

Know exactly how you feel. Slogged for years to get to where I am and I never have anything left over, not even for savings! On a similar salary but have 2 kids as well for context x

My wife earns 45k and I earn a tiny amount writing freelance. We have 3 kids...surely this single persons income is more than "good" to pay for just themselves

Can you find a side Hussle?

What is your job op? Are you an architect? Just asking as my son is thinking about this and I know it’s 7 years and have wondered about the pay. What are your job prospects in the future, will your salary increase a lot or not?

yeah this!

My OH and I did some random googling the other day of what my parents pay in the 90's and early 2000's would be equal to now, and then compared that with house prices, the fact there were no loans for universities etc. It's crazy! Our parents equivalent household salaries today would be about £120k, they had no mortgage and no student debt. Plus a lot less in your face climate guilt, lucky beggers. It was a different world!

Not sure why you are so poor. You have a reasonable salary and not a very high mortgage . What's the problem.

You're still young, move overseas for a while somewhere tax free, great way of earning and saving lots. There's a better quality of life out there. You can always come back if you hate it.

It would be £3100 as student loans on that salary would be £230 (perhaps all the way till retirement if it’s big loan which won’t be paid back as interest high on any post 2012 loan- head situation I’m in, took loan to retrain in a high earning profession but don’t think I’ll earn enough to pay it back) . Then op says they have additional professional loans

I thought the same

Same here. Just turned 35. Earning roughly the same as you OP, in a professional career that required years of training and experience. Sacrificed a lot to get here. But I often wonder why I bothered.

I barely go anywhere any more, except to work, everything is too expensive. I have no hobbies, except walking and running. I live off pasta, beans on toast, soup, and jacket potatoes. I'm still renting, which is disgustingly expensive. I started saving a little for a house deposit but it's never going to be enough. I never go on holiday. I've just had to use leave I didn't take this business year - currently enjoying 2 and a half weeks of doing nothing at home. I never would have dreamed my life would look like this when I made my career choices. My family of 4 had a more comfortable life when I was growing up in the 90s - my dad was an electrician and the sole earner, my mum was SAH. When they were my age, my parents owned a 4 bedroom house in a nice area, took us all on at least 1 holiday abroad every year, had 2 cars and gave us everything we wanted and needed really. Nice clothes, books, toys, games, tech, sports clubs, lessons, you name it. I just can't get my head around it!

I'm surrounded by friends and colleagues on similar salaries who appear to have everything though. I assume a lot is on credit? The only positive is that I have no debt, debt stresses me out. And everyone I know around my age who owns a home has had significant financial support from parents, or an inheritance. If you don't have financial support from family these days, the odds are definitely against you.

I'd really like to know what profession this is!

Are you just starting out as a newly qualified or have you been qualified for the last 10yrs? Just trying to gauge if that's a starter salary.

If you don’t want a ft lodger how about a Mon to Fri lodger - if you are out at work in week might be easier.

While I don't disagree our parents generation had it easier in lots of ways, I do wonder whether your 20s and your parents 20s looked the same?

I mean in terms of travelling, going out, spending money on themselves etc.

Im 38 and we had no financial parental help to get on the property ladder (although we did live at home for 4 years to save a deposit which I appreciate not everyone can) We bought at age 25, having had a child at 21 which really focused our minds.

I'm guessing you're renting in London, but even still, with 4k a month it does not add up that you have NOTHING left after paying the essentials.

No, those are the things that it should not be wrong to expect if you have done more than everything that has been asked of you - worked hard, have a well above average job - at age 35.

You should be looking at this and despairing about the future of this country, not shrugging and saying the equivalent of 'well it's not so bad, could be worse'.

Are you a vet OP? Because if so, you’re right- that salary is unlikely to go up by much more as it’s almost at the top of what is paid for someone in general practice.

Huh? Owning a 2 bedroom property and a new car on a single person salary is not something to despair at, literally everywhere in the world is a luxury to afford those things before 35 on ONE salary! And people who have less also work hard so not sure what your point is that she should autumatically be owed some high life just because she works hard.

So the high life for someone earning in the top 10% of salaries in this country is is aspiring to anything above owning a two bed house (or rather not, because presumably the mortgage company still owns most of it) and having a car on finance (so not owning that either)?

Do you also wonder why kids these days have no ambition and no-one wants to work any more? This is why.

I didnt say its not good, I said it only sounds as good as it is when combined with another.

I can understand why your feeling disheartened. That's a dreadful increase in interest rates & with a huge student loan to pay back just be proud of yourself for managing so well so far. My first thoughts were sell the house & car, move into a rented property within walking distance to work, pay off the loans and begin again on the property ladder when times are more suitable.