To think we CAN live on the mortgage

[JaneEyre40]

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

It depends what your 'possible outgoings' are doesn't it? What do you spend each month in these at the moment? Will you be paying for a cleaner, gardener, private chef etc at the new house?

Yep, I’d like to know that too!

No you’ll definitely be in poverty 🙄

I think it’s safe to say you’re out of touch with reality…

If you can't work this out, how the actual fuck did you even get the job that pays so much?

Why do you think well paid people are good at budgeting?

Given OPs numbers she quoted, I’m not sure this is a budgeting question really.

Is that money taken home or pre deductions? It makes quite a big difference.
Also assuming the house is bigger than your current one what are the increases in council tax, utilities etc.
What other essential bills do you have, committing, cars, insurances etc

Also how is that money earned, two 60k incomes will feel less of a risk than one 100k income and a 20k one.

I also don't understand the eye rolling and sarcasm, people who earn well can still ask questions, you don't need to be on the bones of your arse to doubt a big financial commitment

Omg hOw WiLl YoU EvEr SuRvIve. 🤦🏻‍♀️

It’s just a daft goady boast. I’m not saying that out of envy either as my household income exceeds OPs. But it’s tone deaf and absolutely fucking ridiculous to ask such a question when so many people are really struggling.

You beat me to it!

Your level of savings on that salary is incredibly low, which makes me think your outgoings are very high. Because of the low amount you have managed to save I would suggest you take a close look at how much of a buffer you have each month

Do your employers, paying you extremely high salaries, know that you cannot do simple maths?

How to not read the room🙄

Seriously if you are finding this difficult to work out then I'm struggling to see how you have the brainpower to earn and deserve these wages.

Yes it could potentially be tight. You haven’t said if this is net or gross.

You'll need to factor in council tax, maintenance costs, hired in services such as cleaners etc.

What about school fees? Income protection insurance, car costs and general life need to be factored in.

You could find yourself scrabbling around on a few thousand a month which really isn’t fun when your friends are on their fourth holiday of the year.

It’s just a daft goady boast. I’m not saying that out of envy either as my household income exceeds OPs. But it’s tone deaf and absolutely fucking ridiculous to ask such a question when so many people are really struggling.

Why should the OP not ask the question because people are struggling? most of the MNs threads are ridiculous when you use that logic. Looking for holiday recommendations? plenty can't afford a holiday? House move advice? some people are homeless, etc.

We have a similar net income per month.

Nursery and mortgage are £6.5k per month ish.
Total outgoings about 8.5k -9k

We are fine

You will be fine.

@ThisIsMyYearToFindMyself plenty of people are clueless when it comes to finances.

I assume that's net income? You really haven't given enough info for people to advise.

I hope your jobs do not need maths

You could sell courses in How To Read The Room and Humble Bragging. I believe you would be successful

If you can't survive on £5,800 a month there is no hope for you.

Not exactly possible to say, you havnt mentioned any other necessary outgoings.

Gosh what nasty nasty comments. Why is it that people feel they can make such comments. If you don’t like the post just scroll by

op depends if that’s net or gross, and what your other expenses will be if you go ahead so gas/elec council tax etc. plus what happens if one of you loses your job, will you get insurance cover? Can you manage in one salary? Will you want private school idc etc etc

Just be aware (I’m sure you are) but big house = big bills and expense to maintain… we were overly optimistic I think…

Why should the OP not ask the question because people are struggling?

OP literally wrote ‘considering all other possible outgoings’ without stating what they are. Gas, electric, car, credit cards, loans, avocado on toast habits, Starbucks seven times a day, if she doesn’t have the sense to list those then what sort of reply does she want?

Its almost as if she doesn’t want help, she just wants us to know her wage.