Couple on £200k claim to be skint...

[acatcalledjohn]

Sometimes I just want the world to stop turning so I can jump off...

Link Apologies for linking you to The Sun

How is this possible? They clear at least 9k a month after tax and bought their house for just over £200k 16 years ago. They have £31k in bonds. My DP, on his own, bought a property just shy of £220k a few years ago on a salary of approx. £35k. No debt, lives within his means and as a result very comfortably too. FWIW, this is in the home counties, which are not all that far behind London in terms of living cost.

I can't help but think that, if their finances were dissected, they will be found to be throwing away money for no good reason.

Their claims of being 'middle earners' is a slap in the face for those genuinely struggling on £20k a year.

She says it's down to "schooling and taxes". The school their 4 year is at must be unbelievably expensive.

I know people who claim to be broke when they earn more each than we have for our family between us. What it comes down to is what their view of essentials are, and normally I find their essentials are equivalent to what I'd consider splurging on if I won the lottery!

A little bit of expectations, bragging and lifestyle and it's very easy to see how, DH's aunt was bemoaning that they'll only be able to afford two cruises this year because of a few big purchases.

It's all relative, there was a big hooha last year on the top one percent and the big income gap between the people in it - I guess compared to those who earn hundreds or even millions, 100-200k is small fry (or peanuts as B johnson would say. ) when you're keeping up with the joneses.

Four, I live in London and haircuts cost that here too. But frankly you don't save if you don't just find a cheap barber or cut it yourself or go to the local hairdressing college. I've no sympathy for someone who apparently can't save on that amount of money.

anyway, that was my example, she didn't say it. I just said it because it seems a frequent example of an area where people just aren't prepared to save money.

Awe poor wee souls.....
Their monthly income is 6 times what DH and I comfortably get by on
My heart bleeds for them.

Strictly "What it comes down to is what their view of essentials are, and normally I find their essentials are equivalent to what I'd consider splurging on if I won the lottery!"

exactly. I have a few friends who think nothing of spending money that I think is a huge treat. Even at work someone wanted to do a team trip to the Langham for afternoon tea - paid for by us, not work. I know consumerism got us here but I don't understand how come more people don't say no. (I said no to the work thing and the rest of the team sulked for the afternoon, I finally told them to go without me, FFS. I am not a high earner by the way, I am the lowest person in the team so the next one up makes about £10k more than I do).

I bet they spend a packet on going out and alcohol.
DH and I earn far less than this and have a child at private school and we still manage to save money.
But our car is ancient
I rarely buy clothes
hate shoes and handbags
We don't eat out much
We don't drink

We have friends who earn more and continually state how skint they are - they spend thousands a year on wine and going out. We'd be skint if we did that. But, as someone pointed out, they've normalised attending the Opera House and ROyal Ascot as required activities, so they think they are skint.
They really aren't!
My brother used to blame the tax man all the time - because the tax office was set up specifically to diddle him out of his money - but it's the same rules for everyone, they didn't invent the 40% tax bracket to penalise one person, but my brother took it all personally. He never economised, he seemed to think it was the taxman's fault and spending £700 a month on DOG FOOD (as they only ate butcher's meat, nothing out of tins) was what everyone did.

The comment that pissed me off most was this. If you earn millions you are ok - and at the other end of the spectrum you get everything paid for

Just fuck off you entitled over-spending wankers!

We have an income of £14k (zero hours contract - minimum wage) which isn't completely reliable. We get tax credits and child benefit. We get fuck all else in the way of 'everything being paid for'. Far from it.

Maybe they should do a spreadsheet and work out what they are pissing their £9.5k a MONTH on and start cutting back on the meals out, bottles of wine and holidays. And no doubt extortionate amounts on clothes, shoes and bags.

FFS.

I wouldn't wish bad things on them but I'd like them to have to live on benefits for a month so they could see how easy their life is with £9500 a month after tax.
i can't believe she was stupid enough to put herself out there complaint oh poor me on 200k a year. Still I guess it shows it's not only the 'I get a squillion pounds a year and a free mansion but it's not enough' benefit claimants in the sun and chav mags stupid enough to sell their story.

Lynn, I think there is a fair chance of a couple like that going broke anyway as apparently they have no idea how to actually look after their money.

Not to justify this claim, but if their joint salaries are £200k, wouldn't a large percentage of that be taxed and not be actual take-home money?

Not including any benefits etc. that would be a take-home wage of about £117k per year. If they're spending money on private school and childcare (guessing they must work long hours to get this), plus the commute they won't be rolling in it - but would still be far from poor.

The whole point of the original article was that if you want to save a hefty portion for your retirement then you don't have much extra cash left at the end of the month. Which I'm guessing is the point she was trying to make/thought she was making and her words were twisted.

yes, it will be £200k before tax and I made the take home c£116k.

but I read the article differently than you, even just looking at the quotes in isolation, I got the impression she thinks she should be able to live a life of luxury on that and is cross that she can't. I would imagine her life - with private school for the child - is the definition of luxury for many of us but she can't see that.

I'll trade places for a week with them. Im a single Mum and do not earn anything like those de!icate people. What I do have is the love of my dd and money cannot buy that. Yes I know we can't live on love but we don't have to garner unnecessary expenses.

I can't believe people think they are hard fucking done by on £200,000!!

Their income is over 7x ours, and we only live 25miles outside London, so costs round here are by no means cheap, especially with the influx of commuters buying up all the property.

Ffs, I'd like them to come and live our lives for a couple of months. I'd like to see them whine after that!

"but I read the article differently than you, even just looking at the quotes in isolation, I got the impression she thinks she should be able to live a life of luxury on that and is cross that she can't. " - Oh yeah, she's a bit of a knob, don't get me wrong… But I think she thinks there's some basis in her claims.

The middle DO get a raw deal in some parts, but unless she's feeding her child bars of gold, or she's footing the bill for expensive elderly care, I genuinely can't comprehend where her money is going to.

Just to add… I am no way part of the squeezed middle. I am more of the squashed bottom, financially speaking. Just incase anyone thought I was her undercover…

sizeofalentil "But I think she thinks there's some basis in her claims."

yes, I also think she thinks that, but that's what I don't get - that someone like this cannot make a tiny connection in their brain and realise it's not right to moan about this situation.

actually I wonder if the FT paid them for the interview? I am quite happy to say stupid things that don't harm others, if the FT will pay me for saying them

I suspect that it was a piece designed to inflame. They are comparing themselves to the proper rich and that's why they feel hard done by.

MyLifeisaboxofwormgears

spending £700 a month on DOG FOOD

That's double my monthly food budget!

< faints >

They clear £9k A MONTH after tax and she feels hard done by.

Poor love....life must be tough.

It says they bought their house in 2000, which the Sun article says is only six years ago. It feels like that to me sometimes, but it is in fact 16 years ago!

I know London is expensive, but it should be possible to live very well on a £200k joint salary, especially if they just have one child.

It reminds me of the similarly heartbreaking case of another near-breadline couple: