To wonder how people are coping?

[CobbleWobble]

We are very lucky, I know this.

We are "Mumsnet rich" both have professional jobs with good salaries (£170k household income) and yet this last 12 months:

• removed children from private school
• changed how we do the weekly shop to reduce costs
• cut subscriptions (like Disney+ etc)
• reduced what I bought in the back to school shop
• decided against a holiday in October half term
• concerned about our usual Christmas food order

What is going on? I just don't understand why or how prices are rising as they are or how people on less than us are coping!

I'm extremely grateful we have the things to cut that we have but we've also had to remortgage this year which has doubled our mortgage payments and then our utilities have increased and the food shop has just got insane.

We have other things we can cut - a holiday in the UK, Netflix, the monthly takeaway but its just miserable to think we may need to do that just not to be living.

Happy to post spending particulars if people are finding it hard to see where I'm coming from.

So AIBU to think that as a country we cannot go on with prices rising like this? How are others coping?

My Disney subscription is £5 a.month. I don't believe someone on 170k a year can't afford it!

People earning a lot less also work in the SE.

We are gonna need the particulars to figure this one out!

@cardibach you are aware that housing costs have increased somewhat?

I knew the Op would get torn to pieces with comments like “I earn a QUARTER and I still manage a holiday and pay for x y z” failing to mention on top of their salary they receive UC top ups, rent cheaply from social housing and haven’t paid their council tax in years.

All variable but similar trend.

I can imagine the location, housing costs and every day expenditure are totally different. And why shouldn’t they be? Op and her husband have clearly worked hard to get where they were - should they have restricted themselves to living off £12k per year and saving the rest JUST in case of unpredictable war, tariffs, utilities, insane inflation.

Come and slate the Op all you like but you’re happy to use their tax money for your advantage.

@cardibach I never said they didn't, what are you confused by?

Just for people earning in excess of £100k?

Always amazes me how so many people on high incomes are also really dumb. Bet the op drives a brand new Evoque with high monthly payments and her dh has a BMW with the same. Don’t get me wrong, we’re not booking private jets but we’re comfortable and living a nice life on far less. Sounds like the op stretched herself too far trying to live like her income was higher than it is and needs a reality check. It should be the higher the income the bigger the safety net.

You're not mumsnet rich, you're just plain old rich.

So glad we've kept our small house and tiny mortgage. 80k total income (which seems tonnes to me) and we don't have to think about our spending (though we are also simple in our wants!) and still save well each month. I feel so lucky.

my parents didn't have a high income, London family home was 40k in the 80s. You need to be very high earning to afford it now

My 31 year old daughter is single and earns about £30k. She has a smallish (by current standards) mortgage on a 2 bedroom flat, an old car which is very battered but still works and last year went on a last minute one week holiday with a friend. She has a dog and 2 cats.

I'm pretty sure if she can manage all that on her £30k you and your OH can survive on £170k 🙄

You must be haemorrhaging money ….

where is it going ?????

But some of those things are choices

housing costs are obscene I grant but since the vast majority of the population are buying or renting, commuting , raising their kids, having holidays and using Netflix and all on a much smaller incomes ….

Exactly, we have been asked loads of times when we are going to move from our terraced house into something ‘nicer’…
We decided to stay put and extend it rather than buy something bigger/detached and take on a massive mortgage.
I drive a 6 year old car that has no finance, my children are in state schools etc
When our household income increased our outgoings didn’t really, apart from having the money there to pay for something extra like tuition if one of the children needed it.

@cardibach That's what i said. I was quoting an earlier post and agreeing that higher earners only have higher costs because they created those costs.

Yep - my 5 year fix of 1% ended . Went up by 200 a month which is far less than many people's . All relative though (I am sole payer / owner on 32k)

I have only fixed for 2 years this time. Who knows what will happen between now and then ?

@cardibach Again did you miss the bit where I replied to a post that said high housing costs were to do with keeping up with the Jones.

Honestly, sounds like you got caught up in lifestyle inflation and way over stretched yourself if removing private school fees still leaves you struggling.

It's probably not that she hasn't got a fiver a month. It's that she has to cut out non-essentials (even though they're only a fiver) to afford what someone on £170k would feel are essential - kids' private music lessons, money being put in their college funds etc.

I earn around £1500 a month with one child and can still afford disney plus?? We can swap if you want! I also still buy mince 😁 but yes otherwise it is hard to cope. Felt awful not being able to take my child on holiday this year x

I live in a 3 bed terrace in London & not in a particularly naice part. My house would sell for 800k.

It is £8 a pound now ! Used to be a reasonably priced and filling meal, especially with doughboys.
Now it's a treat ! 😁

Depends on how much private school is and for how many kids. That is the thing that was likely pushing you into the red.

Or if you've stretched yourself too far for your house.

If not, sounds like financial mis-management.

How on earth can‘t you afford the things you mention if you’re no longer paying private school fees? You must eat ridiculously expensive food to start with and go on extremely expensive holidays. How much is your weekly food shop, and what do you normally spend on your October holiday?

This..cmon..sooo many of these "my diamond shoes are too tight" posts..enough already. This is loads of money. You dont need to be worrying about your xmas food shop. Something literally doesnt add up