Can somebody with an income between 40-50 grand PA please answer some questions for me?

[OddshoesOddsocks]

Hi,

Long story short, DP has been offered a job with a salary between 40 and 50 thousand a year. It would require relocation so the exact figure would be dependant on the package they decide on.

I will not be relocating, our children are settled here, our families are here and he is not expecting me to move, he is hoping to negotiate a scenario where he can split his time fairly evenly which he is told is likely.

We have never earned this much money before, the last few years we have really struggled through so I'm so proud of him for being offered this HOWEVER I am a little worried.

What are we looking at in terms of take home roughly? I doubt we'll get any tax credits but will still get child benefit so will lose out that way but would it be worth it because we'd gain so much more?

If you earn that much, do you find it easy to live a comfortable life? Will it be feasible to pay 2 lots of rent?

I'm very aware that it seems an awful lot of money to us but in reality might not be. We earn approx 20 grand a year between us (he is self employed and I have 2 part time jobs that fit around the children) and are subsidised by tax credits, child benefit and the benefit of a lower tax band.

I have 3 close friends who all have a household income of 60 thousand + a year which seems an insane amount of money but they still have money worries like we do (maybe not to the same extent but they still have to watch the pennies none the less)

Am I being silly?

Have you factored in increased maintenance?

It's not a lot of money. Lots of lower earning partners in couple relationships will earn this in the SE. You should look at where he will be living / working and the rent, as well as commuting costs etc. I doubt you will be better off by very much if you are getting benefits to top you up at the moment. Not a reason not to take the job, just don't expect a lot more money.

He needs to look at weekday lodgings in a house, would be the cheapest option accommodation wise.

He should look for a room in a shared house as bills will be included, that might be the cheaper option. I don’t think you’ll be able to afford a flat on that wage.

Why wouldn't you just move with him? He is your husband, and your children's father. I moved a few times growing up because of my dads job and never had a problem making new friends/settling in at school. My dad also did a year and a half of commuting long distance and would only come home at weekends, and trust me that gets old very quickly. You'll miss having him around and your children will miss seeing him all the time. I don't see how you could go on living that far apart for more than a year or two.

Paying 2 lots of rent will be difficult, but it's not just rent. Living costs for 2 houses will be doubled. Tv license, insurance, council tax etc

No way can you achieve that on 40-50k when you also have DC

My friend is AirBnB-ing 3 nights a week at the moment in the city where she works while waiting for her house in a different town to sell. That or a Travelodge would probably work out cheaper than renting somewhere. What is the drive time? Could he get away with just 1 or 2 nights?

It's not enough to run two houses imo

We did this for a bit, but had no mortgage/rent on our main home. DH worked away Mon-Fri and rented a room in someone's house. I doubt you'd be able to rent a flat for your DH in the new area especially if you have any credit issues with the unpaid bills that you mention (sorry!).

If he just rents a room then that is likely to be more achieveable rather than paying two lots of rent/council tax/bills/TV licence etc. I think you need to look at the figures pretty carefully to see if it would actually work for you tbh.

A Monday to Friday room in someone's house is the best bet. I paid £100 a week for that and it was lovely. Beautiful house and really nice people.