To think that £500 is substantial to most people? Or is it just a drop in the ocean these days?

[ThisCheekyLemur]

It seems like in some circles, £500 can be a lot of money but in others, it’s just pocket change. Curious to hear other people’s thoughts on this - whether it feels like a significant amount or if it’s really not that much anymore, especially with rising living costs and other factors.

What do you think?

It would be a fortune to me

My car went bang last night. £500 is a fortune I don’t have and I need a vehicle for my job. I can’t imagine just being able to drop £500 and absorb it into the monthly expenses.

AIBU to think that pieces of string are long to most people these days?

£500 for an annual pay rise is a bit shit really, better as a monthly pay rise.

As a birthday gift, very generous but probably depending on the relationship and income level.

I think it's a lot. If someone gave me £500.
I was saddened to overhear employees complaining about a Christmas bonus, or an annual pay review of x%, which I thought most MN'ers would be grateful of!

I think it's both. It's a substantial chunk of money but, at the same time, not an amount that will go very far in general.

Please come back and tell us about the £500 and what it is for. To me £500 is a lot of money but I am a single mum and a student.

I wouldn’t turn it down, but I wouldn’t really notice it to be honest.

I was in IKEA earlier in the week and I was looking at a rug and a woman was also looking at it and she said something like ‘well it’s only £200 if I get it home and I don’t like it’ and I was quite taken aback. I’ve got £200 for a rug but I cant imagine thinking like that.

Yes this.

It‘s objectively a lot in that plenty of people would spend less on a month’s worth of food but also not particularly significant within my own household’s budget.

£500 goes nowhere and feels like pocket change to me. I’ll probably spend that this weekend on home shopping since we’re decorating and making our new build more homely.

I wouldn’t miss it in an average month but I’d also be glad to get it.

If I had to spend £500 on something this weekend it wouldn’t affect my lifestyle in the slightest , which is probably the more relevant point .

I’d notice £500 missing from my
paycheck, but if someone gave me £500 it
wouldn’t really change much. Still wouldn’t say no to it though!

It’s currently more than my monthly income on UC, £470.

I just got a £500 council tax refund and I announced it to everyone in my close circles. To me, it's a lifeline, a potential maintenance repair, unexpected bill, unexpected bike replacement, etc.

Good for you, keep going! 💙

I earn well into six figures and I would consider £500 to be a lot of money if it just fell into my lap. I’m not sure what I would spend it on if it were just for me!

£500 is just under what my disabled DC gets in DLA, which funds their monthly swimming lessons and trampoline therapy sessions, so it doesn’t go far.

exactly

It's £317 or £400 for a single person living alone in the UK, depending upon age. It's more or less £500 for two people under 25 - so the equivalent of £250 each.

I don't think that food and general grocery prices, never mind electricity, water, gas and travel to the job centre are £183 a month cheaper.

I had an unexpected £500 this month. I bought new clothes for the kids, a pair of jeans for myself, we went out for dinner, and I bought a Lego set for ds. I think I also added some extras into the trolley when grocery shopping.

It felt like a lovely treat, but I wouldn’t consider it a substantial amount of money

In Winter, I’d probably use it to order oil, or pay for Christmas

It's roughly what I spend on myself each month for take out coffees, books, beauty treatments, meeting my girlfriends for lunch etc. That doesn't include clothes or make up & skincare though.

So, for me it's sort of an incidental or pocket money amount? I recognise that I'm privileged though.

Context is everything. I’d spend that on a hotel room for 2 nights but probably not on dinner for one.
I’d use it to buy 2 dresses but would think it was expensive for 1 theatre ticket for example. For a family member it’s what I would give for a wedding.
Context is needed here.

It would be a lot of money for us. If it was something important, like work to the house, we’d find it. If it was just for a general shopping spree or a flash night away, no we couldn’t find it for that at the moment.

If I received £500 less in my salary per month, I would notice it and it would make a difference to my quality of life.
£500 extra a month would put me at very comfortable and alleviate some worries so to me it’s a significant amount.