HH income of £250k but we don’t feel rich?

[Bdrgvlugcbu]

Not a brag in the slightest! And wouldn’t discuss this non-anonymously.

DH earns just over £250k per year. Has fallen into the role really and is based on natural ability/talent as oppose to lots of hard work and training. He works very long hours though. I’m a SAHM to 3 young children.

Take home is approx £12k per month.

School fees: £3,000 per month
Mortgage, car and bills: £3500 per month
Personal savings £2000 per month
Kids savings: £450 per month
DH and I take: £500 personal money each per month
Leaves us with £2,000 per month for general spending, food shopping, days out, holidays, children’s clothes…

We don’t really go without, but we don’t feel “well off” by any means. Where are we going wrong?!

cardibach

campsites in France, as in large caravan/ static type things. We love them as they attract nice people and the kids have a great time. They are not cheap as chips holidays. I did also say a sun holiday and city breaks. I didn’t say we can only afford camping.

So how much do you bring in?

And still have a shit ton left over!

Is there any reason why you can't work OP?

You need a job and some financial independence. Sorry but high earners are notorious for having flings so try and build up a nest egg/fleeing fund.

You have £2,000 excess money every month which you choose to put into savings. That money is not an 'expense'. The amount you put into savings every year is more than our entire annual household income, so it's very hard for me to understand what on Earth you are spending it all on. My practical suggestion would be to analyse how much you waste eg. how much food you chuck away, how many clothes get bought and remain unworn, and make positive attempts to stop overspending on those things. My other suggestion is to reconnect with activities that don't cost anything, like taking the kids to a park - not from a direct money saving point of view, but to remove yourself from what is perhaps an overly material lifestyle and learn to take pleasure in something that doesn’t involve spending.

Well, you're clearly a bit stupid if you can't figure that out yourself, aren't you?

Where you’re going wrong is school fees, and ploughing so much in to savings. Sensible, but if you put that much away each month you obviously won’t have it to spend on Bond Street…

Your monthly take home is a third of my gross annual salary.

You mention that the £2,000 savings is partly pensions a) I hope you are saving tax effectively b) I hope there is a pension in your name and c) That amount is more into pensions than DH and I combined including our employer contribution!

You could save money on private school.

Get a cheaper house

Get a job

Save less

Allocate a smaller amount for personal spends each

Of the money “left” for things you list holidays and days out. They are both luxuries so that’s another place to cut back.

You have no idea. None. Zip. Zero. That last word is the amount some people have in their bank account BTW…

That's absolute nonsense tbf. My DH is on £200kpa and we have a cleaner 2hrs per week. We live in a 3bed semi in the SE.

I think the OP is wrong and they do have a lot of money left over each month but I do think that people's perception of the lifestyle afforded by that salary is out of date.

I'd love to know how much people who only wear designer clothes and fly business class to long hual destinations actually earn. I'm guessing now it's £300k+ (in the SE at least)

Surprise eh? Lots of traffic 🤣

Op i agree, terribly difficult being in your position, I have around 1k more per month than you, also am a SAHM and topped up my income by taking photos of my feet for Onlyfans.

Theres sone right weirdos on there who lap up the verucca and corn pics.

Nice little earner, you could guve it a go?

Come off it mate. The title was so goady it was obviously going to wind people up.

What did you think you were going to achieve from posting something like this? Knowing full well that 90% plus of people on this board will take home a fraction of this?

If you really genuinely can’t live on half a million quid a year take it to a rich person’s forum. Not one aimed at all parents. Otherwise a bit of dignified self awareness would be in order.

You sound like the kind of people that would find ways of spaffing cash no matter how much you had, therefore will never feel well off.

Gotta love Mumsnet for these absolutely INSANE threads!
My heart bleeds for you OP, I honestly don't know how you cope. 🙄😂

Ask your DH. He can't have grown up incredibly poor, managed to get to this income level, but be as thick as you. Although he might be, because you could have moved to an area with good state schools and then you'd be rolling in it.

We take home that and we can’t afford staff! Who could?

Well we earn £250k but take home less as extra income tax (Scotland) is £800 a month. Then pensions etc. We’re left with just under £10k for family if 5. Not wealthy. School fees for the Sen child £2500, mortgage £2,500, bills £1,000, nursery fees, £1,200, after school club £200 Holiday fund, presents, food, car (10 year old estate), insurance etc takes up the rest.

Things I’d love but have no money for - hair cut more than once a year, new clothes not vinted, holiday more than a week overseas a year, skiing would be nice. And a once a month cleaner and gardener would be heaven!

OP, what you are describing is financial mismanagement

Guess what OP? You ARE well off!

Whether you feel it or not is irrelevant but you are compared to the majority of the country.
I honestly despair when I read these nonsense threads. I hope this one is a fake wind up because surely no one is genuinely this stupid?

But you ARE rich. You have riches galore. Have a look at just how fortunate and rich you are.

You have a 4 bedroom home that you can afford to heat (I assume) and maintain.
Your dh has a fantastic income.
You can save more than £20K per annum, plus another £5K for you dc.
You already have £120K in pension contributions and this will only grow in the future.
Your can afford to clothe yourselves and your dc (doesn't matter where those clothes come from - you are warm and well dressed and not waering shoes that no longer fit).
You are not wondering EVER how you are going to afford to put food on the table, or what might happen if the washing machine broke down.
And you have £1K of personal spend, and still some money left over.

You have riches sufficient that you can CHOOSE to send your dc to private school.

You have riches sufficient that you can be a SAHM, and you can also have some help in the home with cleaning.

OK, you would struggle if your dh lost his job. So what are you doing about that? Are you getting more qualifications or planning a return to work to ease that worry?

Honestly, do some volunteer work with people in real poverty and open your own eyes to your priveledge and wealth.

Fucking hilarious seeing posters elbowing each other out of the way to get their nebs in with oh yes I have that every month doesnt everyone?🤣

How much are you spending on holidays?
Why go abroad for a week? There's plenty of cheaper options...

The nursery fees won't be forever.

What a twat

Not a lot. It’s usually camping. Or staying with relatives. Once a year we’ll rent a cottage for a week but overseas is rare because it’s expensive and hard to organise.

🎻

You save £2k a month… that’s more than my net income!!!

Well I'm actually a multi millionaire but I feel desperately poor because I have only got two houses and I haven't even got a fancy yacht moored in the South of France!

It's a terrible life for me & I just don't know how to cope. We only went to Dubai three times last year!
Cry for me 😭