40 grand a year

[Howmanytimeshasshesaidimnotgonnalie]

Would you consider this a good wage?

Could you live on it fairly comfortably?

Two adults, one dc and dog, South west, renting

Frankly, it depends on the rent/mortgage deal. I wouldn't be struggling but I have been very lucky with my housing costs.

You'd need a guarantor for rent. You wouldn't pass the financial checks for that rent on 40k. Too tight imo.

You will have 20 to 22k left after rent.

As two adults with one adult child at home we spent 28k last year with zero housing costs as mortgage is paid off. Actual basic housing utilities were 6k, food was 7k, council tax was 1700. I have a lot of time to shop for food deals as retired.

You can survive on 20k after your rent is paid but it will be all basic bills paid and a fund for if stuff needs replacing but not much for holidays or fun stuff.

Single yes. For Family its tight. My family always single income, now our income doubled on that. But i remember have £40k and its tight. Doable but tight.

You could survive on it but you won’t be ‘comfortable’ I’m afraid. I’d consider selling your existing property to try and buy here.

Depends on so many different factors!

A decade ago me and DH were very young with a baby and his salary was barely more than 20k whilst I was a SAHM. But we had a lovely little HA house with incredibly affordable rent and received working/child tax credits which topped up the income considerably so we were absolutely fine.

Now we have about 70k (before tax)ans a family of four and i feel very comfortable- no money worries at all. But we have manageable mortgage payments, no school fees, no childcare fees, no fancy cars on finance etc etc. To some people that same salary wouldn’t stretch as far.

Ffs all you saying its not enough are completely out of touch with how most of us live. How much do you think your cleaners, the shop workers and bus drivers earn? Three fucking holidays a year and you think you're on the fucking breadline. Unbefuckinglievable.

Last year I earned a shade over £16K, and have a very comfortable life, its all purely relative to what you want from it I guess.

so what's the actual wage if the amount after tax is £40k? Because £40k gross and net are very different amounts. People usually refer to their 'wage' as the amount before any deductions, not what's left after so you're probably going to get some slightly confused responses if you actually mean a salary of about £50k. Is the £40k after NI, any SL deductions and union/membership fees as well?

£1500-1700 seems steep if you're looking at a 2 bed property? Will you be studying, if so you might be able to claim SPD on council tax which will save a bit (unless RR gets rid of it in the budget....)

I’m in the SW and get by on far less. Our household consists of one adult and one child. We own our own home with a mortgage, but grandparents did help us out with the deposit and also help out a lot with childcare. I can afford to pay for music lessons and other hobbies for DD. We don’t have a car, a TV or pets though.

on that income, I think the amount of rent is too high when the remaining money has to cover 3 people.

It leaves you with about £400 a week for food, bills, clothes etc. and transport, which would mean careful budgeting, but is certainly possible. A lot depends on what your transport costs and bills would be. If you don't have a commute to work and rent a flat with low bills, it will be fine.

not enough by a long way

In the SE, that's a basic 2bed house IF you can find one!

Dont know about SW.

@CandidHedgehog

thats all well & good, but try finding anything cheaper!!

@LovingCritic

mist people would want a roof over their heads! That wouldn't even
civer the rent here.

I know!

what are you lot spending on that 3k a month is tight?

our household income is not that high and I consider us quite comfortable. 2 kids, one dog. Savings, and enough spare for treats.

i managed in London with 2 in childcare on 40k gross. 40k net with no childcare is a doddle 😂

Do people really count their salary as ‘household after tax’?

Not great in my opinion. Me and DH have about 60k a year..1 child on the way and we are mortgage free and we don't live enjoyabley and comfortabley and that's before the baby's here so we are thinking we need to up our wages before he arrives or we'll be scraping by🤣

🤣 at 2 European city breaks a year being "barely comfortable". My drier has broken down and I'm praying I don't have to replace it.

It’s true that renting is expensive in the SW. I couldn’t afford to rent my current place, but can afford the mortgage. However, many parts of the SW are NOT tourist destinations. Which area are you looking at, OP?

What the fuck do you spend nearly 4k a month on if you have no mortgage?

So you're saying you're skint but have 3 holidays a year?

We live a comfortable life on £34k single salary, petrol paid for, kids left home, mortgage £1050. So yes, 40k would work for us.

We live within our means and we do that comfortably.

@Cattenberg Well, the job is in Falmouth and my family live near Perranporth & Newquay, so ideally in between those two places somehow 😬