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Original poster

What is your household income/ lifestyle

272 replies

Lockdown12 · 03/05/2020 14:01

What is your household income and what lifestyle do you manage to have on it?

Do you have children? Own your own house? Go on holiday? Go out for meals?

I don't have children yet but am interested about how the financial situation might change when we hopefully do!

OP posts:
Mrskeats · 04/05/2020 10:22

What you on about grey
No need

user1471523870 · 04/05/2020 10:25

Net 13k per month.
3 mortgages
1 baby in full time nursery
frequent trips abroad to see family
3-4 holidays a year
eating out 1-2 times a week
2 big cars

GreytExpectations · 04/05/2020 10:25

What you on about grey
No need

I'm on about the high liklihood of embellishments on this thread and the assumptions from posters that because they and their friends are supposedly high earners they think that's normal for most people, when it's not normal.

Mrskeats · 04/05/2020 10:28

Why would anyone lie to a bunch of strangers?
Lots of professionals on good salaries on here. It's not news.

Mrskeats · 04/05/2020 10:31

I am well aware that we earn money well above average. I have two grown up kids just starting out so I am more than aware of salaries etc.
At 16 I was working for peanuts on a YTS scheme but went to uni as a mature student.
Don't make assumptions. First one in my family to have a professional job-not born with a silver spoon etc as the implication seems to be.

HarrietM87 · 04/05/2020 10:32

I don’t think they were saying it was normal for most people - I read it that they personally know plenty of people on those kind of salaries so it’s not surprising that there are some on this thread (and therefore no reason to assume people are lying).

HarrietM87 · 04/05/2020 10:33

FWIW I don’t really see why people would bother lying but I do think that if you’re in a good position you’re more likely to comment, and so that probably explains why loads of people on the thread seem to be doing great!

As I said when I posted, I actually do have a high income but it doesn’t reflect in my quality of life due to lots of other factors. The figures here are only part of the story.

carolebaskinsheadband · 04/05/2020 10:33

Wow, I always thought we were 'alright' but we are nowhere near most of these salaries.

Our household is DH earns £40k, I earn £15k part time. 3 kids.
Mortgage is £850. We live in the South East where an average 4 bed home will set you back £500k.

DoubleTweenQueen · 04/05/2020 10:38

After being (again) stunned by how many posters will share their finances for the asking of a stranger on MN - I will give you my advice. Whatever you earn now, make the absolute most of it, meaning clear debts and save - pension included - as much as you can. Now is the time to get careers in good shape. It is generally more difficult after having children to service a career - although some manage fine depending on how much additional support you have. If you are careful when dinkys and get into good financial habits, you will have more choices in the future - lifestyle, p/t working, family balance, early retirement.
Unless you win the lottery or earn five figures per month, then you can probably relax more, generally.
Depends where you are now and what's important to you?

EmmaGrundyForPM · 04/05/2020 10:41

@GreytExpectations I can't see posters on here saying that they think their high incomes are standard.

I am very well aware that our household income is higher than the norm. I also know our mortgage is much higher than the norm. I'm a public sector worker and dh works in a not-for-profit company. A lot of our friends work in private companies where the pay is high and there is a decent annual bonus.

Why should anyone lie on an internet forum where you are anonymous?

And why do you think that having a higher than average income means you are unaware of other people having lower incomes?

LadyPips · 04/05/2020 10:41

Both early 40's
Two primary school children
Income 7k per month
Mortgage 1300pm on detached cottage
Two cars, one on hp.
One main holiday per year and a few shorter ones.
Eat out 3+ times a week
Savings of approximately 20k
No loan's or cc debt
Health insurance/life insurance / 2 x pensions
Life is comfortable but its taken hard work to get here

Mrskeats · 04/05/2020 11:19

Exactly emma you put that better than me.
I also agree with getting your house in order re pensions etc. I think there are some bumpy times ahead. It's easy to assume everything will stay the same.

GreytExpectations · 04/05/2020 11:34

Why should anyone lie on an internet forum where you are anonymous?

You are very naive if you genuinely believe people wouldn't lie on the Internet.

Hairdowntohisknees · 04/05/2020 11:55

Why would anyone lie on the internet? Because they can.

HarrietM87 · 04/05/2020 11:58

Of course they can, but I’m not sure that just because someone says they have a high salary that that’s an indication they are lying, which seems to be what you’re implying.

MagnificentMillie · 04/05/2020 12:34

It’s anonymous and lots of posters can’t seem to comprehend that other people earn a high salary and also post anonymously about it.

I was going to join in with the interesting posts about family income, where it goes and how we got to our position. Because I have nothing to gain by trying to impress a load of people I don’t know or care about.

It might inspire another women reading here or the op to do something differently or allocate money differently.
But I don’t fancy being called a troll or a fantasist or ripped apart elsewhere, so I won’t bother now.

If you don’t like these threads, or believe them, just move along, don’t drop by to spread your particularly special brand of misery.

Rainycloudyday · 04/05/2020 12:44

I agree it’s odd that anyone earning a decent amount gets accused of lying. Why would you on an anonymous forum? It’s like the people who insist that anyone whose baby sleeps through the night before 18 months is lying-no, they just have a different experience to you. Some people seem to have no ability to comprehend that. Or they’re jealous..

MagnificentMillie · 04/05/2020 12:48

It’s just rude and boring too.

Whenwillthisbeover · 04/05/2020 12:49

Net 5.3k a month after pension contributions which we massively over pay at the moment as we are 54.

Kids flown the nest and now mortgage free. Very comfortable but it has taken us decades to get to this point. Years and years and years - almost a lifetime!

Pandapawson · 04/05/2020 12:56

@DoubleTweenQueen I agree.
I posted my figures, mainly because we have recently had a big change in income and I have been thinking about it.
I am surprised by the number of posters with big incomes but very little (relative) savings.
We absolutely prioritise our pension savings and save as much as we can into them - our income figures are net after putting as much as our employer will allow into our work schemes and then we also put money into our own schemes.
Even then, although we are in our 40's and have been high earners for 20 years we will have nowhere near the income we have now in retirement - I think there will be some big shocks for some people in the future.

Pepperwand · 04/05/2020 13:19

Can you imagine if those on higher incomes accused those on low wages of lying and said they simply didn't believe them/they were attention seeking?

I for one find these threads interesting....to see how others use their money, those on similar incomes that have much bigger mortgages.... nobody talks about this stuff in real life so it is interesting to see.

And it certainly isn't bragging....in my particular case I earn £20k a year. DH is a high earner working in IT but he's lucky that computers were his interest and it's a field that pays well.

MagnificentMillie · 04/05/2020 13:32

@Pandapawson I think you would class us as in that category. We have a very high income (for now) but our priority is school fees and that is three lots of 26k a year. So it could well all go very wrong in the future and we will have to take that on the chin.

It will be possibly university support after that if that’s what any of them choose, or apprenticeships then maybe we can put money away for retirement. We were hit badly in the last recession and I never take money for granted or appreciate it.

And I don’t know why I feel guilted in to saying this but I do, I give 5% of our net income split between five charities that are important to us. Trying to give something back.

DoubleTweenQueen · 04/05/2020 13:49

I think also that actual amounts are not really the point? There is a certain income at which can be afforded a home, pay bills, have a decent car, a holiday at least once a year and go out, over and above which you can afford the same stuff but bigger, better, more.
How much is necessary to have a certain lifestyle is relative. Depends what sort of lifestyle, and at what level, you're after? Money management, planning, and looking at your own personal goals are key to getting the most out of your income, whatever that is, and your short time on the planet.

Pandapawson · 04/05/2020 13:55

@magnificentmillie we spend quite a bit on school and nursery too (£2.5k per month) but I suppose we are lucky in that we had DC in our late 30's and so we had already paid off our mortgage.
I think it is interesting to see where people's money goes, I have absolutely no idea how people manage on a low wage and I fear being in that position (hence why we save).
We do give as you earn through our wages, our employers match our donations.

MagnificentMillie · 04/05/2020 14:06

Panda
I would love to post where our money goes now, but I don’t think I have the stomach for the abuse or troll accusations today 🤣.

It’s not sensible spending and it’s not grown up planning either. We are having fun along the way but could well have a miserable retirement.

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