To say there’s always a high earner thread? Tell me about your income vs expenditure if you are of the opinion that you are broke/not well off?

[Moneymadness]

Just that really. Every other money thread ends up taken over by those with large incomes and low expenses, or just large incomes tbh. If you want to. Post your numbers if you are bloody broke and just getting to the end of the month(or not)…a safe space that cannot be taken over by the higher earners maybe?

Broke was when i couldn't afford for my three year old to go to the playgroup Christmas party, because it cost £1 and i I'd need to provide a small present for Santa to give her.

Things improved over time, but I've never forgotten that feeling. I don't take financial security for granted because of that memory.

It depends what you are used to, we were broke years ago but really didn't know it. We had no money left at the end of the month, but that didn't seem unusual or surprising it was just a fact. You were careful what you bought, veg off the market, cheapest cuts of meat, no eating out, no having a drink, no new clothes, it was what it was.

This exactly. I’m financially secure now but will never forget things like people being able to save money by buying in bulk, eg toilet roll. I was jealous because my 2 worked out more expensive than their 12 but I couldn’t afford the 12!

So I have to ask…why did you answer @Astra53 ? Are just being obtuse for the fun of it. Not broke = you don’t need to be on the thread!

Because they think they are broke/badly off even if you think they are on high salaries and NOT broke.

If I told you I had £200 a month disposable income I might feel broke and you might think I’m swimming in money. If I think £40k is a low salary, there will be a dozen people quick to tell me that’s insulting and they live on half that. It’s subjective because everyone’s situation and lived experiences are different.

To make things easier, why not write: “If you earn less than (whatever you think constitutes a low salary) then post here”

I earn £56k (bear with me!) but DH is recently severely disabled and his PIP has so far been used entirely for his needs (£800pcm) so we have £3250 take home (mine) between us, the equivalent of £19k salary each. With 4dc and a mortgage it’s a struggle and we have zero savings.

To add, holidays are camping, Christmas is vinted and eBay etc. No gym etc. Pets eat cheaply and are insured. Bills (before food and petrol) are £2400pcm

She did post that this was a thread for people NOT on high salaries.

What is a high salary?

You tell me. What is it you’re trying to prove? That on say £50k you can’t buy food or heat?

I do think OP should have set out some criteria.

Even the definition of “poor decisions” - I would say both your examples could qualify depending on context.

I'm on a v low income . 1, 200 a month . I'm on the state pension ! Plus PIP for Cancer . I don't feel broke and manage . I put 100 away each month for emergencies . I have no Morgage but high gas and electricity bills because I feel very cold with my cancer treatment and obviously am home a lot . I have one weeks holiday each year , don't buy much in the way of clothes but sometimes splurge on Shein ! Eat well from scratch . We were very poor as children , my Dad was often out of work through no fault of his own no social security in the 50s . Compared to those days I feel I'm doing OK. Hopefully this answers the brief from the op .

I have been there. Quite a bit more than £7k too.

Once your clear it, it feels AMAZING!

Terms like “high salary” and “broke” are relative though.

my mum earns more than me, with very low outgoings and a big savings account- she’s in the 50k+ tax bracket. I think I’m reasonably well off- even though I have mortgage and kids etc to pay for, and not earning over 50k. Mum thinks she’s a broke pensioner, she just spends her money on stuff she doesn’t need.

my brother in law thinks poverty is not being able to afford private school. Apparently everyone can afford it if they budget properly.

the high salary thing that drives me mad is when people say shit like 100k in London is not enough. Or “it’s not a high salary” because it doesn’t cover the massive mortgage and bmw car payments the chose to have.

i am careful with money. I have an affordable mortgage, and a 15 year old corsa. I keep my outgoings minimal, mortgage, bills, no loans or payments. I don’t consider myself “broke” as I have enough disposable to go put the heating on if it’s cold, or do the food shopping and buy necessities without having to count every penny.

Someone else on my salary might struggle to make ends meet every month if they have a bigger mortgage and a car payment, or they drink a few bottles of wine a week, have a takeaway weekly, or have an expensive gym membership.

to me proper broke is not being able to cover the absolute basics. Rent, heating, food. I would hope in this country no one is that broke as we have social security, but I am fortunate enough to never have had to claim, so I don’t know how realistic that is.

Just a guess, but I think when people are really broke, its depressing and humiliating to talk about it, so the space gets filled by people on higher incomes.

Thanks @JHound i know it can be done!!!

any tips appreciated x

Apparently to rent alone in London takes about 80k salary.

Not 100k but still a massive amount!

https://www.msn.com/en-us/money/realestate/the-salary-you-need-to-earn-to-rent-alone-in-london-in-2026-and-it-s-bleak/ar-AA1Vvjm8#:~:text=The%20salary%20you%20need%20to%20earn%20to,their%20salary%20on%20rent%20(Picture:%20Getty%20Images)

There are people like that. Young and old alike. They just don’t post on here as they can’t afford the broadband.

No
my take home wage is £700 roughly less a month in my new job

So for years and years I told myself I could not afford to save / live hence me racking up debt.

The first step for me clearing it was I started budgeting. Zero based budgeting worked for me.

I first worked out what my essentials and what was left.

I have separate accounts for bills, spending, saving.

Each month time I was paid, “paid myself first” - amount to bills to cover bills then an amount to debt (with a small amount to a baby emergency fund).

You really want to target 20%+ to debt. If you don’t have that spare you need to figure out a side hustle.

I lined up all my debts smallest to largest and paid off in that order, once the smallest was gone I add that payment to the next smallest and continued.

I know my personality and knew if I tried to cut all non essential spending I would end up binging so would instead have challenges a no spend fortnight here or there with the money not spent sent to debts.

Also when I got any extra money (birthday, bonus, a baby inheritance) it all went to debt. Every, extra penny.

I don’t know your budget so don’t know how lean it is. So it is hard to give advice beyond that.

And I stopped using credit cards.
Cut them up. Closed my accounts. Completely changed my mindset to spending money I don’t have.

If your debt is because your income does not cover your essentials then the main thing you need to do is find ways of earning more.

I don't consider us 'broke', but we are a single income household (husband earns around £24000... I am a SAHM) with some help from universal credit/child benefit. After bills (750 rent), car loan, petrol, other monthly expenses (not much.... think vet plan, mobile contract) and some small savings (talking 50-100 a month), at the moment we are living on £188 a week for groceries, which we just about manage.

Edit: I should mention, we managed all of this because of very strict budgeting, accounting for every penny. I spent weeks designing a personalised budget on Excel which is my pride and joy. We fill in what we spend daily so we know exactly where we are. I love it.

Thank you! No, my spending is definitely on non-essential items tbh. I am frivolous but I have become more frugal this year to be honest. I am dedicating this year to being debt free so other than the weekend away this weekend for my husband’s birthday, I won’t be travelling abroad. We got married last year so some of my debt was due to wedding dress, alterations, accessories. Once in a lifetime kinda stuff.

I am also working on trying to progress at work, salary increases, promotions. I’m due a bonus in April I think so that’ll go on debt. I’m looking forward to the feeling of being debt free!

like you I’m gonna target Klarna and my smallest credit card first (£275 and £348).

We are pretty broke, not been on holiday for over 10 years, never buy new books or clothes, etc.
I consider my self to be fortunate though because we aren’t in debt and things have certainly been a lot worse for me. I have a home and food, can take DC to swimming lessons, it’s not so bad. Definitely couldn’t afford more than one DC though!

I’m not trying to prove anything. Just making the point that if the OP posts that the thread is only for people on a low salary, without stipulating what she thinks a low salary is, then it’s open to interpretation and anyone might join in (which is what has happened). Far better to say “average income in this country is £35k. Welcome to post on here if you earn less than this..”

You can certainly buy food and heat on £50k but where I live, that is considered a mid to low salary. Just as an example.

But you could change housing estates and then you wouldn’t be among such rich people