What would you call a good family income?

[Tblock1800]

Just wondering how everyone is coping in this current climate? And what would you consider a good family income? Obviously depending on which part of the country i understand. Me and my wife are a family of 4 living in Surrey with 2 young children ( 3 month old girl , 2.5 year old boy ) both own our property and have 2 cars. Our mortgage deal ends next month unfortunately like thousands of others and will be going up to a higher rate. We pay child care fees for our little boy too. Our yearly income between us both is roughly £76000. At the moment we are still able to afford a holiday abroad once a year, but obviously with our mortgage going up, we will need to just be a bit wary of overspending and budgeting a little with obviously meals out etc. Have people been budgeting since the ridiculous cost of living rise?

Our income felt good when we no longer had childcare fees and could afford to buy the home we wanted, I think our joint salary was about £70,000 then (not SE), 2020. Our mortgage has increased exponentially, we would be really struggling if we were still on £70k. We are on over £100,000 now and that feels good because we have absorbed CoL increases whilst maintaining the lifestyle we wanted. Your income will feel healthier when you don't have childcare.

To be honest, we are coping well still financially despite child care etc. I think it’s just with the mortgage rise, you always have to be wary as £400 extra a month a big lump. That being said i get unlimited OT if i need it. We take home as a combined income about £4,700 which I think is a decent amount and we have never struggled.