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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask what your life would look like on 60k

278 replies

Thecherryhotel · 31/07/2024 06:42

What do you think your life would look like if you and your partner earned around 30k each per annum? Would you both work full time or would one of you be able to go part time? Would this be enough to support you and the children you have? Would it be impossible? How would you feel?

OP posts:
Woodstocks · 31/07/2024 06:45

It would be possible. That would be a take home of approx £3500 for one person but more if split between two with tax allowances and child benefit so I’d say closer to £4000 take home.

We earn more than that now but could easily make do with this.

alwaysmovingforwards · 31/07/2024 06:46

Would just cut my cloth accordingly I guess

keylimedog · 31/07/2024 06:50

Is this an article?!

We'd struggle, we'd have to downsize our lifestyle and cut a lot of spending. Obviously I'm sure we'd get by and still be in a better position than some people so probably not have much to moan about (although I'm sure I would 😂), but the change would be really hard.

Motnight · 31/07/2024 06:50

It would have been very hard a few years ago with one child at university and a mortgage, in fact I am not sure we would have managed (live in London). Now it would be easy for us! No mortgage and no university age child.

LokiCroc · 31/07/2024 06:51

We could survive on £4kpm income, this was our income a few yrs back before more recent payrises, our outgoings come to around £2.5kpm so we'd have some leeway.

Beezknees · 31/07/2024 06:51

£30k is my entire household income as a single parent of 1. I manage fine on it, not a luxurious life but I don't struggle.

Spacecrispsnack · 31/07/2024 06:52

Life would be comfortable but not luxurious and we wouldn’t be able to say yes to everything the kids want to do. Our essential bills and outgoings are about 3k.

HAF1119 · 31/07/2024 06:52

To have 2 incomes on that money as opposed to just 1 would feel easier, with more holidays etc. not enough for one to go part time and make it lower. However at one point I had a home with 2 incomes at that wage and childcare was still extremely expensive on top of a mortgage and household bills, so there was not much spare. It's just harder on only 1 salary instead of course

ACynicalDad · 31/07/2024 06:52

Massive struggle in London for us. We probably had that income before kids, but with them not sure it’s manageable for us.

Isthisreasonable · 31/07/2024 06:52

It would make my life hugely better

StMarieforme · 31/07/2024 06:53

It would mean that I could save more for my retirement as a single person. Single mother of 4 who never managed to get back on the housing ownership ladder, or pay into a private pension whilst ensuring my children ate, I could save to remove worry when I do eventually retire.

DrRiverSong · 31/07/2024 06:54

It would make our life worse in the immediate term as we currently earn more than that and have the mortgage and expenses to match. But we could sell, downsize, re jig and obviously it would be more than possible to live on that.

Starlingexpress · 31/07/2024 06:54

The bills are paid and we don’t go without necessities but we don’t have holidays and have to account for all spending. We have young adult DC at home though so I’m hopeful that things will become a lot more comfortable over the next few years when they move out-the food bill alone is ridiculous!

H0W · 31/07/2024 06:56

We earn this. We are fine. Have a mortgage. One summer holiday and several breaks away together and apart.

Shoxfordian · 31/07/2024 06:58

We wouldn't be able to afford most of the things we like doing, it'd be miserable

Meadowfinch · 31/07/2024 06:58

I'm a single mum on 60k I couldn't reduce my hours.

Life is paying mortgage and bills and raising ds and having a 2nd hand car.

My ds is on a scholarship at an independent and so every spare penny I have goes to pay the half-fees. This wouldn't be possible on reduced money.

I don't expect to be able to ease back until I retire 🙂

Noonooo · 31/07/2024 07:00

I'm on £30k and DP slightly less. Works out at £4k a month after student loan (me), tax and NI. Both work full time and it's better for me to work even as DC is in nursery some days and with family other days.

Edited to get rid of a name I randomly tagged.

Seaglassandchampagne · 31/07/2024 07:00

At the time my husband and I were both earning c. 30k we were both working full time and owned our first house. We had enough for a couple of holidays a year, and nice activities (meals out / cinema etc.). We were very comfortable and had a nice life.

We would have struggled to afford children and particularly couldn’t have paid for childcare without a real struggle. A lot of other things (the holidays, fun activities etc) would have fallen away. We would have made it work for the sake of having children if our salaries hadn’t increased by the time we did.

VerySadCase · 31/07/2024 07:01

We'd have to make a few cutbacks but we'd be absolutely fine. But our mortgage is paid off and we are way past having any childcare costs etc, so our situation will be different from that of people who still need to cover those costs.

motherdaughter · 31/07/2024 07:02

Fix the leaking porch, pay a cleaner, go on holiday abroad with the kids, or take them skiing every few years, invest in a pension.

We do ok as it is camping holidays, youth hostels, but I'm worried that my pension is worthless and we're going to struggle when we're old.

OhshutupNancy · 31/07/2024 07:05

I earn 60k as a single household with two Uni aged kids. I have a £900 a month mortgage and a new car. I don't support the Kids at Uni they have loans and work to cover their weekly spends. I have one holiday a year (Sri-Lanka) every winter. Life is ok and I can always work more hours if I need extra.

Startrekobsessed · 31/07/2024 07:05

Our mortgage is over £3k so we’d be pretty fucked. I’m sure if we had to we could make it work (as millions do on this and much less), but on current level of expenses it wouldn’t work.

Ponoka7 · 31/07/2024 07:06

My DD and her DP earn that. Last year they renovated, new kitchen, walls down etc. This year is been more holidays and a back garden make over. They've got two holidays booked for next year, but will do about four and possibly a new bathroom. Neither would want to go part time. He drives an expensive car, my DD likes her nails/lashes done. They are in the NW. For me it would be spent on a kitchen extension and more weekend breaks.

StamppotAndGravy · 31/07/2024 07:06

We live in an expensive city and earn twice that much, but have been down to about 40k in current house. We'd survive on 30k because we've chosen to stay in a very small apartment to make sure. We wouldn't be able to go on holiday or save and we'd be permanent vegetarians with no alcohol. On 60k, we'd have some savings, might just about be able to pay nursery, but would probably be juggling days off instead. We'd be taking the tent on holiday and wouldn't be running a car, but I think we'd be comfortable. At 120k, we don't need to plan European holidays in advance and just go whenever. We have plenty of savings. We are still quite budget conscious (having earned a lot less relatively recently) which is why we don't have a big mortgage. In this city a bedroom each would put us back into the vegetarian camping category even in this salary

RunningThroughMyHead · 31/07/2024 07:07

We live in the SE and our household income is around £100k. We would probably just about cover our current bills on £60k but not once our mortgage rate increases.

I'd be feeling stressed. I'd also be looking at ways of one or both of us increasing our salaries.

However in other parts of the country with lower costs, I'm sure £60k would be enough. It also depends how many children you have, we have three so need a healthy income to fund them.