To ask what your life would look like on 60k

[Thecherryhotel]

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?

We could survive but no holidays or savings.

I’m a single parent on just under that income, with a little debt and a mortgage plus paying into a pension, it’s not a luxurious lifestyle at all.

It seems a great income and 10 years ago would have been brilliant. Not so much now.

Same. I'm on less than £25k.

When me and my husband earned 30k each it was bloody miserable. Could only pay bills, mortgage, childcare and basics. I had to get second job.

That more than I on now as single person with a small mortgage free house in cheap part of country, so I'd be fine. Would save the extra.

Long term, I’d be fine. Short term would be hard as we juggled / cut our cloth / off loaded expenses.

Slightly more than we earn now. Probably save Abit more but make no difference.

I'm not getting the 'we'd have no holidays'. We camp for a tenner per adult and a fiver per child.

Name changed for this. My salary is £60k. Take home £3400. Fixed outgoings £2100. Single parent, no debt at all, own my car outright. I top up my salary with consultancy work of about £1700 a month. Full time hours over four days to give me a day to consult.

I’d downsize without my consultancy work as I wouldn’t want to have my mortgage payment on my salary.

We would have to change our lifestyle significantly and I imagine the adjustment would feel tough as we moved, budgeted & cut out lots of luxuries.

Good for you, but that will sound like shit for a lot of people. Not that hard to get surely.

Think this very much depends where you live, what stage in life you’re at, and if you’ve always had this income. We are higher income, so we have a mortgage and other outgoings already that reflect that.

That's significantly less than our current household income. Would mean a significant paycut for DH and significantly more hours for me. We would have to completely overhaul our lifestyle - put kids in childcare, and move miles and miles away to a cheaper area. Presumably, DH would no longer be commuting to London, so it would be manageable. We have lived on less.

Are you researching an article OP? It's a very odd question.

That's our joint income now. 3 kids, SE London. It's tight. We have debt.

while you can camp for very little, it does presume you own all the camping equipment.

we’re another family who would cope but would struggle.

This is roughly our household income currently. It’s very tight most months as we have 2 young dc in childcare but without us we’d be comfortable

Our current household income is £55k (one FT & 1 PT), so that would be an improvement. We have a small house (monthly mortgage payment is £930), one child at primary school so lower childcare costs, and live fairly frugally (no expensive hobbies or designer clothes).

We are comfortable at the moment though I’ve noticed the cost of everything creeping up, but we’d struggle to move to a larger house (would love a spare room for wfh) and can’t afford a holiday abroad every year. But I don’t worry about paying bills or buying food, or having a few treats each month, and I know that makes us better off than a lot of people.

We’d be ok, household bills are about 1k a month not including food or petrol. So we’d have money left over.

Well it would be a lot less comfortable than currently, so we’d probably have to downsize and reduce our outgoings significantly. Why do you ask?

And that’s fab for you. I absolutely hate camping, would rather stay at home. We also have no camping gear, so that would be a significant outlay if I were ever to change my mind.

It's still a holiday even if not someone's first choice. I wouldn't deprive my kids of a holiday because I didn't like camping myself.

We would be fine, just have less savings per month.

At 60k you would now get child benefit rather than just on the two 30k each couple

Haha, my kids also hate camping.

I’m a solo mum on just under £80k. Being part of a couple bringing in £60k would be much easier tbh.