34 on 42k a year and feel poor

[User6404]

I'm supposed to be in a 'good' job, work all hours and lots of pressure. Im told this is a good salary but I never seem to have any money after paying mortgage and bills!

Is anyone else in this position and wonder why it is worth working so hard for little return? Am I deluded? I dont talk about money with friends.

@Hisaishi of course I understand that, but OP didn't cause austerity and probably can't solve national or international poverty, so why not just help her budget a bit better or move on.

I would suggest the anger is misdirected here.

I agree with others re budgeting - look critically at what you spend every day, how often you eat out, how often you buy clothes, what presents for others cost you, holidays... FWIW I'm a high earner and sometimes get to the end of the month with no money left. The mindset is often to spend more as you earn more.

Goader

@theredjellybean I had to go check my pay slip as I thought I don’t get that much! I earn 33k I managed to magic 1k from somewhere

I get less than that take home after student loan deduction and normal work pension (no extra paid in), bills pretty normal but I have childcare to pay too. I’ve also got fairly high car insurance as a new driver.. there’s hope for me and a few bills going down in the next few years!

Stop bragging you dick

Fucking hell i'm sat with a quilt round me as i can't afford the heating on all day and you're struggling. This is not a race to the bottom but you seriously need to do a proper budget as has been suggested and work out what you're wasting so much money on.

gggrhh..completely understandable, student loan and child care and a new car insurance..its like the triple whammy . as you say few yrs down the track it will be better

Chill out everyone, OP is asking for help

Are they really?

Because they haven't given much information to obtain any advice.

All we have for is 'decent income, poor me'

Not a usually method to ask for advice

Well it's unlikely they'll be back now.

Three of us living comfortably on just over half that. I understand the spending though if you are working too hard, lunches out, convenience or takeaway food etc are expensive, stopped since I went part time. Also the feeling you work hard and deserve treats or expensive things.
Save 10% of your income, standing order on payday to an account with no instant access, and forget about it. Pay your debts, interest is a killer and enjoy the rest. Not poor just need to prioritise

I take home £1200-£1800 per month and pay £500 in rent, yet manage to save a bit every month for short city breaks with my partner (no shared finances).

You're doing something utterly, catastrophically wrong.

Or you're a troll. Whichever.

You sound like my (lovely) colleague, who never has any money but on half your income

The weekend before payday, with food in the house and bills covered, she was delighted to find she had £12 left in her account - so she ordered in a takeaway with the £12, and was pleased with herself.

Do you just keep spending until there's nothing left in your account? If so, that could be the root of the problem, right there.

That's a fantastic salary and you've got a low mortgage.
You should not be "feeling poor"
You have to learn to budget OP
You don't even need to wait - download the last three or four months of your bank statement and put all the information into a spreadsheet.
That will really help.
Work out the cost of your bills, shop around to reduce them. Make sure you aren't paying bills that you no longer need. Check those direct debits and standing orders.
Do something about this. Don't come one here and ask if you're deluded. Act.

ICouldVeSomebodyYouKnow oh dear that sounds like something we would do

You’re spending too much.i work hard and get just over £12,000 in my hand but managed to pay my daughter,s rent of £575 a month for a studio flat while she was at Uni. Dh paid our bills but I have diesel, animals, food to pay for, helped daughter with veggie box every week. Materials and books for uni etc.

Well, after the pasting the OP has received, I didn’t think she will come back with more information.

User if by any chance you are still reading.
As others have said, look at where your money is going. Watch every single penny for a month.
Look at what are proper essentials and what isn’t.
Eg having a phone is essential but is having the latest iPhone with unlimited data etc.. at £50 is?

Fwiw I think it’s more expensive to live on your own than as a couple. A lot of expenses such as rent, heating, television etc..l are basically halved which helps.
Even with the food, I’ve always found that cooking for one proportionally more expensive than for two.
However, you should be able to be relatively confortable with your salary.

Oh look. It’s one of those threads

If your mortgage is under £1000 then you’re being ridiculous and over spending on socialising I would bet

My advice will be what it'd be anyone worrying about money - write down everything you are spending for a few weeks and you will see where your money goes. Even the £2 coffees and little amazon purchases.

Once you have have more of an idea ,make a budget and stick to it. You're struggling because you simply can't see where your cash is going.

Cry me a fucking river, you must be so so awful at managing money and/or spending WELL beyond your means. I earn £24k and my partner is a FT student earning a few hundred quid a month on Saturday locum jobs around his studies and we have a lovely life, living within our means, zero credit cards and an itsy bitsy mortgage on an itsy bitsy house as that's all we could afford.

Get a grip. Baffles me that someone with the acumen to land a job that pays so well can manage their finances so poorly that they feel "poor".

Whole families live on much less

Do we know the OP hasn't got a family to support? There isn't much information in her opening post.

You need to look at your outgoings and see what you're prioritising currently.

Just because you don't have money left over does not mean you should "feel poor" if you're choosing to spend it on things like a nice car, fancy food, nice clothes, various subscriptions, holidays, can replace/repair household things without worrying about the cost etc. If you generally spend without worrying or needing to check your balance that is an aspect of lifestyle which is not accessible to someone on a low income either. Likewise subbing a partner/family member who isn't earning is a, lifestyle choice/freedom, having several children perhaps in childcare, again, lifestyle choice perhaps which enables you to keep a hold on your career rather than losing it. Servicing old debts - a temporary situation which should free up eventually (and there are ways to look into paying debts off more quickly).

OTOH if you are spending more than you'd like on things you don't want to prioritise any more then it could be a way to identify this and free up some income.

Mind you it's a good salary in the UK but it's hardly rich person territory. It's enough for a nice middle class lifestyle I'd have said but probably not a terribly "naice" one.

"I would suggest the anger is misdirected here."

No, I don't think so.

The fact is, the middle classes have NO fucking concept about how some people struggle. As such, they, who have a voice (or more of one than poorer people) rarely speak up for those who are actually struggling.

Coming on here and whining that, oh no, I can't afford Starbucks every day or whatever the shit it is you can't do on 42k is just a slap in the face for so many.

I'm sick of being told we mustn't be angry. Or we should be angry with.

The fault lies with everyone who is completely blind to the realities of life, not just those in power.

You need to learn to budget so you can take control of your money. You shouldn't be poor on that income and mortgage. Try YNAB it will help you budget and you'll soon be feeling rich!

Oh how love a budgeting thread on mumsnet. OP disappeared long ago but still 74 posts arguing it out