Household income. Where are you?

[chonka901]

https://ifs.org.uk/toolsanddresources/wheredooyoufitt_in

Using this link and putting in everything joint net income ,including child benefit and maintenance which I think it takes into account. It has us at 73 percent. Not a stealth boast before any states that. Genuinely surprised.

I certainly don't feel like this but appreciate people survive on less. It doesn't take into account mortgages, rent, generational wealth, inheritance, childcare etc so is a guide.

It is eye opening though.

I feel poor compared to my friends though. We definitely are not the London elite. Just public sector workers in the North. I guess the maintenance helps. My friends must be in the top 20 percent.

40. I feel pretty wealthy so expected to be quite a bit over 50.

24%

God help those on lower.

@Teateaandmoretea According to this we’re only just above average. I currently do all the above and am far from skint. Well apart from the luxury home.

If you are just above 50% and do not feel skint, then that suggests you are a normal person who has your head screwed on and can manage money.

Unlike the people on this thread who are above 90-95% and claim to be living in poverty.

This is an extremely blunt instrument - doesn't clearly factor in energy costs, repair costs, car costs, or primary mortgage payments, ... and doesn't distinguish between kids with nursery care costs, versus in full time state education, versus private school etc..

So it in no way reflects how much money you will have at the end of each month. Neither does it ask about savings/ debt (or debt repayments) so is not measuring your overall wealth either...

So, some will get low scores on this, while feeling relatively comfortable, and others will get high scores while feeling relatively stretched.

I suspect they are just trying to use this tool to collect data about people... the 'where are you' result is a freebie hook to give you an incentive to fill it out.

You can check a box at the bottom, which does the calculation based on housing costs too.

98% which doesn’t feel right, given how many millionaire's there are in this world! Very aware how fortunate we are though.

Richer than 94% and able to spend loads of money? Not having to worry is surely the definition of rich and something the vast majority of people can only dream of.
How fortunate you are to be able to spend £4.5k every month.

Of course there will always be someone richer than you unless you are Elon Musk.

@TheOtherAgentJohnson
No what I think is that even well off people aren't that well off judging by what folk are saying here. My household according to this calculator is very well off but there are still % points available above us. In order for that to be correct assuming the calculator is accurate, and I don't frankly have the maths to work it out, there must be a top 1% or .5 % who are very very rich. Thus making even the well off not so well off.
Actually I believe our country is very unequal and that is very ecomically unhealthy, in so many ways.

11%. Not a surprise tbh!

98% - we’ve done individual earning % calculations before so not a surprise. I know we’re very fortunate.

49% which feels high as i'm a single parent but in the last 12 months I have started to receive PIP and my daughteR DLA which has increased income considerably. Taking that off I'm at 28%

I put in two adults on £50k, no kids still makes it 89th percentile after tax.

My point is that two people earning what they think is good money are still better off than the vast majority of the population but probably don't feel that way.

92% surprised as definitely doesn't feel like that.

While I recognise a genuine benefit for SUVs in the Scottish Highlands, surely you can’t be totally oblivious to the changing climate up there and the contribution excessive, unnecessary, consumption is making to that. Far too many drive these cars as prestige statements. For the record I recently got to work in the amber snow warning in my little c1.

I love the displays of snobbery from out-of-touch wealth on here, hope you also realise the social damage you are doing. If of course that’s not deliberate and the aim of the thread. And then you wonder why so many now are turning away from this economic system that forces so many to work for nothing.

97%

26 and yeah we don’t make it to the end of the month

DH not worked for 2 years, and DS and I only work 24hrs a week

life is so expensive as well

@financialcareerstuff This is an extremely blunt instrument - doesn't clearly factor in energy costs, repair costs, car costs, or primary mortgage payments, ... and doesn't distinguish between kids with nursery care costs, versus in full time state education, versus private school etc..

With energy and repairs, you have a valid point.

However, mortgage payments, nursery costs, private education are all linked to personal choices. No one is allowed to complain about costs linked to choices.

20%. Both work full time (in fact, slightly more). Two teenagers. Mortgage.

We are really high which doesn't surprise me as both DH and i earn loads.

We pay loads of tax though. I think a lot of lower earners don't realise how much tax comes off higher salaries. Someone on £120k doesn't take home twice what someone on £60k does.

£120k - take home £75k
£60k - take home £45k

The extra £60k costs you £30k in tax.

67% which is more than I was expecting to be honest. We have lowish housing costs as mortgage only 600 per month due to high deposit and buying 15 years ago.

We have a high combined gross (and net) income with my individual income slightly higher than DH. We are in the top 98%, which makes me realise that the 98%-100% must cover a large amount of wealth.

81% (single adult household). I do not feel that well off!

While I recognise a genuine benefit for SUVs in the Scottish Highlands, surely you can’t be totally oblivious to the changing climate up there and the contribution excessive, unnecessary, consumption is making to that.

Not forgetting the massive air pollution caused, with the particulates and thousands of chemical compounds expelled into the air.

Apparently, putting people in hospital by inflicting cancer, autoimmune diseases, respiratory diseases, and cardiovascular disease on them is a sensible price to pay if that ensures you can get to hospital whenever there is a bad storm on 1 day every 25 years.

Far too many drive these cars as prestige statements. For the record I recently got to work in the amber snow warning in my little c1.

Same here, I have also been able to drive in harsh weather conditions in a similarly-sized car. So I have no idea what is meant when people claim that SUVs can somehow go places where small cars can't.

Take the housing costs out, so on income alone, it's 74%. Which tells you bugger all really as high costs would eat a high income.

A calculator that only takes into account income and not assets/wealth isn't capturing the true picture.

My husband and I both earn well but don't have family money - we've watched friends on a third of our incomes easily buy houses years before we could even consider it, but definitely consider themselves "poorer" due to their headline salary incomes. I think our equivalents in 10 years' time will be unable to realistically build wealth based on earned income alone.