Average Salaries + Lifestyle in 30s/40s

[SmallWorldAfterAll]

First time thread poster here. I am always intrigued how people manage their personal finances, especially when it’s people on similar salaries with such variable costs and lifestyles. But as a woman in my early 30s, I’m finding a lot of people on MN are in their 50s and beyond, therefore very progressed in careers and different stage of life so slightly less relatable.

For those in their 30s and perhaps 40s, what is your financial situation looking like? What are your goals? I will of course start.

Salary = £75k, household ~ £105k
Pension = Contribute 15% with an employer match of 10%
Mortgage + essentials = £2,500 per month
1 DC with a plan for another
Currently have what feels like a very comfortable lifestyle but have some ambitious goals for the future
Goals = By 35 achieve a £100k+ salary, be able to save £1,000 per month (amidst childcare costs), 20% pension contributions, continue nice lifestyle (multiple holidays abroad, restaurants, nice family days out, etc.)

I'm 33 too, in a big-ish city (not London or SE).

Salary: £75k too, household £240k-ish
Pension: Same as you, 15% with an employer match of 10%
Mortgage and essentials: £3,500-£4,000 per month (this is a reasonable jump from a couple months ago as just had to remortgage from the 2% fix we had been on before... ). We save a lot into investments and ISAs but I've not included that here as it's optional rather than essential.
DC: None, still weighing up if this is for us, lots of pets in the meantime
Lifestyle: I feel we are really lucky and can more or less do what we want by way of holidays and fun spending, eating out, hosting parties with family and friends etc. It's also nice to feel like I can support others, e.g. I took my friend and her kids to Disneyland last year because they'd had a tough year, I pay private health insurance for my parents, I gifted a friend going through a divorce a load of furniture to help get her set up in her new place as she was basically starting over and stressing about it, stuff like that.
Goals: Over next 3 years, make a decision on DCs, focus on overpaying mortgage now rates have increased, keep growing our pot of non-pension retirement savings to allow us to throw the career towels in early if we want, a few bucket list holidays, and finally get round to a wedding after 10+ years...

Thanks so much for sharing that! Incredible joint wage, that’s so impressive and inspiring. But most of all the generosity and heart for your loved ones is fantastic to hear! I am a consistent charity giver, but I do like the sound of helping those around me out when I can

I'm late 20s but will join

Salary- 16k (2 days a week), Household- 85k
Pension- teacher pension so God knows
Mortgage+ essentials including childcare- £3300 a month

Overall we feel in a good position as we have 2 under 2 so childcare will increase and I'll return to work more

Goals- move house in 2026 when mortgage runs out, I'll increase my hours at work. Increase savings amount

Childcare will decrease sorry!

Mid 30s
Salary = £30k (work for a charity in a management role, not expecting much of an increase in this line of work but it's fulfilling for now - spent most of my 20s off with children so only really building a career now); household income £90k
Pension = 5%, employer contributes 5%
Mortgage + essentials = £1800 per month
Children = 3; 1 in primary 2 in secondary
Savings = between us got £20k, due to recent pay increases we're now able to put away £1500 p/m
Nice enough life, able to afford days & meals out & holidays. Would like new cars but ours are less than 10 years old and cheap to run, plus owned outright.
Plan for the future - I don't think I'll get to earn much more in my line of work but I'm happy for now, but when the kids get older I'll look for something higher paid, but would have to be a larger national charity (if I stay in VCSE sector) as I'm on the going rate for my kind of job locally

I'm 33 dh is 39

We earn each around £65k so circa £130k household

We pay £3800 a month for all bills and essentials Inc food shop and petrol

I pay 6% pension and employer matched I will increase when pay off student loan

Dh pays 10% and employer also adds 6%

We have 1 dc in primary but ttc number 2, I'm even thinking we may then go on to have a third but that's not decided yet.

We have minimum one holiday abroad per year, we have a lovely lifestyle spend time in our city have meals watch shows go to events, but plan for the future is

Build savings for potential mat leave(s)
In the next year my earnings will probably Increase by around 10k but I'm not planning on chasing any new jobs/promotions whilst ttc

Our mortgage rate is fixed at 3% for next 3 years so overpay this just incase we see a hike before our deal ends!

Name change for this as I do frequently anyway and listing salary details seemed a good time for a change.

Were late 30s. 1 DC.

Household income of around £80k.

Mortgage of just under £200k outstanding on a £700k house.

Mortgage + bills are around £1500/month.

We're very thankful that we have a small mortgage but a house we love. Due to a combination of buying at the right time and being able to invest well into the deposit when we bought it.

Our income isn't huge compared to most around here (Surrey) but with a small mortgage we do ok on it and it's a good balance as allows me to work part time.

@SmallWorldAfterAll

You are on a very high salary! Average salary in the U.K. is £29k.

I've never earned more than £16k but my dd has asd so I've only worked pt since returning to work when she was 8 (and her sister was 6). She's grown now, I'm older but I still work pt, I do a job I love, helps some of the most vulnerable in our area but it pays barely over minimum wage, at least I'm appreciated though, I'm munching my way through biscuits and sweet washed down with wine I received from my congregation. In my spare time I volunteer in my community, theres more to life than money. My house is paid off and I can retire in 5-6 years but I suspect I'll carry on working

I have also name changed

I am aged 41 with a mid level job in finance in the city. I live in the east of England and commute in 3 days a week.

My salary: £68k
Partner salary: £50k
Rental property: £1,200
Mortgage for our house: £2000 (we pay overpayments)
Mortgage for rental: £300 (this is an interest only mortgage but I overpay to chip off some of the capital)
ISA and SIPP: £700
Work pension: 9% employee contribution
Other outgoings: £700 pmonth

We are both early 40's and don't want kids. We have two cats.

My partner's parents gifted his younger brother £65k to help him purchase a flat. Their reckoning was that we were already on the housing ladder and didn't need any help even though we only bought together a couple of years ago. My partner was looking to buy a flat by himself and have the brother rent a room off him at a reduced rate. It's caused a lot of friction between us and them.

Age: 35
Salary = £70k, household ~ £115k
Pension = Contribute 7.35% with an employer match of 26% (civil service so sort of equivalent)
Mortgage + essentials = £3000 per month
2 kids, no childcare costs now

Goals = By 40 achieve a £100k+ salary, pay down more on mortgage as we only bought recently, holidays, holidays and more holidays.

I'm 35 and DH 36.

We have a really good joint income, but it doesn't go anywhere near as far as you'd hope/expect in the South East. We feel very comfortable but not rich, and can't afford much more than a 3/4 bed semi in an ok part of town (not the posh bit). If we wanted a 4 bed detached we'd need to move to the part of town that everyone knows as "the street where someone got stabbed".

Salary = both on around £85k, so household income £170k

Pension = can't remember exactly but think around 13% with 5% employer contribution

Mortgage + essentials = we're lucky to have a £1.5k mortgage at the moment, but need to up it considerably soon. Utility/essential bills around £600 per month. One old beaten up car bought outright, sim only mobile contracts, shop at Aldi.

Things we spend a lot on: commuting/car repair savings/fuel can be around £800 a month. Pets £600pm - feeding, doggy daycare for x2 dogs, saving money in case of medical emergency (cheaper than insurance). Nursery fees £800pm which are a lot even though only a couple of days a week.

Currently 1 DC, would love to have another. First one took 4 rounds of IVF and £40k, so a big expense.

We feel very lucky to be comfortable and not worry about money/have to constantly be watching pennies, but it's a stark contrast having 2 high earners and not being able to afford anything like the house my parents bought at a similar age in a similar area with only one parent working on a midrange salary.

30’s lifestyle will depend massively on whether there are children and if so, childcare costs and age of children. On the same income level having a 4 and 1 in nursery v two in primary school has got
to be one of the biggest differentials in expenditure and lifestyle cost. My youngest went to school this year and it is no coincidence we’ve got our first big holiday in ages for next year.

Single parent, 35. 1 child in high school.

Salary: 49.5k per year
Child maintenance: £3.6k per year.
Pension: defined benefit from employer. I also pay into a private pension.
120k outstanding mortgage on a flat.
Goal: sell the flat and buy a house in 2024.
Lifestyle: frugal but still fun.

You are on a very high salary! Average salary in the U.K. is £29k.

The median UK salary was £35k in April 2023. Salary increases this year were 7-8% so it will now be £37.5kish.

www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/annualsurveyofhoursandearnings/2023#:~:text=Median%20gross%20annual%20earnings%20for,£33%2C061%20in%20April%202022.

mid 30s.
Salary = £50k for 3 days a week, household ~ £104k
Pension = Contribute 8%, employer matches.
Mortgage + essentials = £2k
2 kids, childcare £800

Goals = By 40 pay off current mortgage with overpayments and investments and then buy new house. Longer term save house deposits for both DC, build up retirement funds and retire by 60, earlier if possible.

Lifestyle = fairly comfortable and we tend to buy what we like in terms of food and extras. Eat out once a week and one takeaway a week, plus kids activities and days out. One holiday abroad a year and a couple of short uk breaks, 2 x cars,

I'm 44, so a fair bit older than OP. My household finances are definitely not average, but it's a real data point and it all adds to the picture. Married with 2 dcs age 5 and 1. No plans for any more dcs. No pets.

Salary = £58k p/t, household £470k
Pension = £58k across workplace and SIPP inc employer contributions
Mortgage + bills inc school/nursery fees = £7.3k

Lifestyle is comfortable, dcs in private school and nursery, multiple holidays annually though mostly UK/Europe, lots of days out and extracurriculars, not too much eating out but that's our choice. Have a 4 bed house in London Zone 2. No cars, we are urban people. Mortgage is huge but we are sitting on a lot of cash from our previous flat sale as we owned it outright (we will pay it off when fixed term expires). We also have other assets as I am a hobby investor.

Goals = clear mortgage as quickly as possible, consolidate investment gains, diversify assets and make home improvements. Dont plan to move again until the dcs are adults!

Can you give advice on how to get a promotion within 5 years that comes with a 30% pay rise? Is that one promotion round or two?

I wish I hadn’t clicked on this thread! I feel I’ve worked hard in my career to earn what I do now, but it seems I’m far behind on the salary front and don’t know what I can do to change that.

These threads depress me so much. I think I'm doing ok and feel quite proud of what I've achieved in the last few years but then I read these posts and my heart absolutely plummets.
I work in the public sector so am never going to be a very high earner. If I did my job in the private sector I'd probably be looking at £10k more than I get now but I love my job and the organisation I'm in; have been here five years and I'm well-regarded for my work but it's not reflected in earnings sadly.

@louderthan my salary (and therefore household salary as I'm a lone parent) is around £21k. People on here probably spend that on luxuries. My goal is to stay afloat and keep managing my kids, their special needs, work and universal credit. My career is in bits and I will likely never have much money. Cheers ex.

I'm 33
Salary- £37500, will increase to £42,650 in next two years due to salary increments.
Household income- around £60000 plus about £6000 maintenance a year from DC dad
Mortgage payments- £0 as house is paid off
Pension- NHS pension
Bills- about £1100 for everything including food
Lifestyle- eat out Atleast once a week, UK break every 6-8 weeks (weekend in a cottage etc) family abroad holiday 2-3 per year. Lots and lots of money on DC activities and nights out/gigs
We have a lovely life and feel very lucky

I'm late thirties DH early 30s. Combined income 125k in the South East.
2 primary age kids, affordable mortgage as we had a big deposit from working abroad for a few years. We are very comfortable - 2-3 overseas holidays per year and nothing to worry about money wise. We feel very lucky

Salary = £43k in the charity sector, household ~ £43k (live alone)
Pension = 10% (will be 15% soon)
Mortgage + essentials = £1,000pcm
Lifestyle: Flexibly frugal, vaguely minimalist
I currently save approx £1k per month because my costs are so low. No kids, no car, no pets, low maintenance home, affordable mortgage
Goal in 2024 = To drop down to 4 days per week so I have better work-life balance and rent out my spare room to help with long term savings

Both DH and I are 43.

Salary = £75k (varies depending on any bonus / additional perks received), household ~ £105k.
Pension = Contribute 6% (hoping to increase to 7% from next tax year) with an employer match of 15%.
Mortgage, household bills + breakfast club/after school club/ holiday club/ extra curricular activities = £2,500 per month.
2 DC - no plans for another.
Currently have what feels like a very comfortable lifestyle but am conscious that both our roles aren't secure, in light of the current climate, so our situation could change in 2024.
Goals = To have enough funds in savings, pension and other investments for us to be able to retire in our late 50s (both my parents retired at 55) and hopefully be able to help our 2 DC onto the property ladder.

We are mid 30s
We earn combined circa £90k.
However based in the South East, so doesn't get far enough.

Pension =Both contribute 5%, with employee match.

Mortgage is £1900. Went up in Nov, when ultra low rate ended.

Got 3 kids. No plans for more.

Things are tight, but hope to keep head down, clear debts in 2024. To get some more breathing room.