175k salary and all gone

[175allgone]

This will ruffle some feathers, but after tax, mortgage , childcare, living expenses….there doesn’t seem much left. SE London, commuting, wrap around care. Whilst I appreciate I’m not having to watch my bills I’m hardly living an extravagant lifestyle.

Disagree. There's clearly changes she can make. Move to zone 4. Petts Wood, Beckenham, Crystal Palace, Penge, Eltham, Lee, Bromley, Sydenham... there's loads of options. Living in Islington is silly. The only people I know who can afford there bought ages and ages ago or are millionaires. You need to compromise, it's common sense.

What's your definition of a 'real job'? And why can't you get one?

Don't be so patronising. Why do you think that anyone with different views to you must live out in the sticks somewhere? And where did I suggest that the OP's childcare was extravagant?

I well understand how expensive childcare is in London, DD was born here and I've lived and worked here since the 1960's.
DD paid for full-time childcare in London up to last September when her youngest DC started school. However she must live much less extravagantly as she lives well despite earning less than a third of what the OP earns.

I don’t know, I wasn’t the poster who said it. I was just pointing out that you’d misinterpreted her post.

she wasn't worrying about money.

She said there was nothing left but she didn't have to watch her bills. That's a luxury most people do not have.

It's clearly there for you to read.

It's not clear why she posted.

And less clear that she's never come back.

Yes there are homes in Islington. The cheaper flats are usually local authority ones that have been bought and resold. The cheapest I saw for a house rather than a flat was close to £700-800K. And not in the nice areas of Islington.

In all these areas a family home will be at least 700K (terraced 3-bed), or closer to 1M in catchment of a decent state school. So not 2.5K mortgage either

Yes, because the rest of the country was sabotaged. If the UK was still an industrial powerhouse, then the country would be kept afloat by real jobs instead. Is that not what I just explained?

I think she means the mines and the mills.

Sorry but it's not the Victorian times any more or even the 1950s.

That's true but they'll be a hell of a lot cheaper than zone one or two!

But her mortgage will increase

It's the childcare which is temporary during the early and most expensive years. It won't be forever.

I'm on maternity leave right now as I've just had twins but when I go back it will be £6k a month for 3 children.

I understand you OP, unfortunately Mumsnet is a place where there are a lot of people who live all over the country with different outgoings, interest rates and expenses and simply cannot understand.

What I think is wrong about this country is how people are unable to live in London, on an objectively extremely good salary without feeling like you do. How is the capital city meant to run when no one except the super rich can live there?

On another note, I personally think the current rule about any free hours or childcare credit etc being cut when ONE parent reaches £100k ridiculous, how can two on £99k get it but one on £100k can't?

I'm unfortunately in a similar position to you and we've had to go and buy a small house literally an hour's commute outside London otherwise we'd be living in a one bedroom flat and needing to move again + stamp duty in just a couple of years. The mortgage on our house is still going to be £2500 a month - that is just living in the SE of the UK.

I also don't think people appreciate enough with regards to childcare costs, how much better off some people are when they earn just under the threshold, have been lucky enough to lock in lower interest rates, etc.

@shuggles Are you someone who like to talk about 'the workers' like darling Sir Keir?

Meaning manual workers (I assume) rather than bankers / CEOs/ entrepreneurs who pay for everything you use like the NHS, education, benefits?

A real job involves manufacturing or producing some kind of consumer good or item that people can actually use. Industry, manufacturing, science, engineering.

I have one of these jobs. I'm not sure what made you think that I don't.

A lot of assumptions going on here - some bits of Islington are v grotty, and some bits of Islington are in Zone 3...

The West, generally, has done this. It’s what happens when you pursue ever increasing profitability via rent seeking capital that doesn’t want to “waste” money investing in infrastructure and giving labour the means to potentially hold them to account. This all went into overdrive when Thatcher and Reagan and their deregulatory, free market buddies came in.

In Europe, which is just as fucked as the UK, only Germany had an actual material economy that wasn’t predicated on finance or services. And we all know what happened to that nice Ukraine got invaded.

Your little man Rishi will be gone in 6 week's time. Try not to cry too much about it.

There is not a single banker, CEO, or entrepreneuer who understands how to fix a broken arm, build an MRI scanner, or analyse clinical biochemistry.

Not to mention living with crime on your doorstep. Sorry but a lot of those areas are not what I'd consider nice for the price you'd pay for a property there, and I've lived in London for 10 years.

They pay for it using labour’s output. Otherwise, yeah, spot on.

Where do you keep your money you earn from this job? How do you pay your bills? Pieces of gold you sift from the stream at the end of your garden?

Oh I assumed you didn't have one because the no longer existed. As you said they had all been sabotaged by the financial services in London.

DS is in the process of buying a house in Brixton - which I found. I know the London property market well, and I know there are choices to make, but considered beneath the likes of this poster. If you can't live well on £175K a year then you are an entitled spoiled brat and that is that I am afraid 😂

Does your DS have 2 children at £4k a month?

@SwingingPonytail
"The OP- if this is a JOINT income- is not in the super-rich bracket by any means for working and living in London.
I know, personally, a couple on £400K (joint) and they were struggling to find a family home and pay childcare.
Which is why I question OP's low mortgage- less than many pay as rent for a small flat".

Maybe low mortage payments because it might not be OP's first home? Two people coming together, each with a flat bought relatively cheaply when they were young, resulting in a large deposit even without a contribution from savings.

Eh why are people asking the op questions? It’s obvious this isn’t real and shes not coming back. First post and all that!!

Jesus actually fucking wept. Do you work for free? Or did you fall and hit your head this morning?

I work for a CEO who is also a nurse actually