4 Questions: What’s your household income? What’s your monthly mortgage cost? How many kids do you have? How financially comfortable are you?

[OrangeCarrot]

1. What’s your household income?
2. What’s your monthly mortgage payment?
3. How many children do you have?
4. How financially comfortable are you?

I’m in need of some perspective. I’m planning for marriage/kids/house purchase over the next 2 years. I’ve been planning for this time for 10 years now and my partner and I have lived frugally through our 20s to get to this point.

I want to make sensible life choices so was hoping to learn from others that are perhaps a little older and more experienced. I was hoping these questions may give me an insight into how big a mortgage we should get and still have a good quality of life.

Income is £130k approx
Mortgage is £1300 (on a low rate now will rise when fix ends)
Financially I do feel comfortable

Big things I would like to do to the house feel a bit out of reach. But we do eat well and go on holidays so I'm happy.

We take home around £40,000 per year
Mortgage is £1300 per month
Children are 6 and 2
Not very comfortable at all.

Next year when DD gets 30 hours we will be much better off and also our mortgage should go down.

I have a student loan but don't earn enough to pay it off

Take home pay around £2300 a month
Mortgage £550 (well mortgage and rent combined - shared ownership.
Rest of DDs come to around £450.
Save £300 a month.
One older teen dd.

It's the most comfortable I've been so far, I'm a single parent and was very skint when dd was little.

Although in fairness, our relatively low (compared to most) mortgage of £500 is reflective of the fact that we bought our first home 24yrs ago and overpaid later mortgages and now have a £108k mortgage (at 0.99% interest for the next 3yrs) on a £320k home.

Had we bought this house as a FTB with 10% deposit and avg 5% interest rate would be an extra £1250pm, a mortgage of £1759. This would be way too expensive for us.

What’s your household income?
£165,000, £10,500 per month before DP's self-assessed tax

What’s your monthly mortgage payment?
No mortgage

How many children do you have?
None

How financially comfortable are you?
Very. Aiming for a comfortable early retirement at 48.

Wow so being successful he now deserves karma on order to be brought down a peg or 2? What a lovely outlook to have

Reading comprehension is really not your strong point @twistyizzy 🤯

I couldn’t agree more with everything you have written 👏

Anyone that suggest there is no element of luck in their life and that they have what they do solely because of hard work and no good fortune, is beyond ignorant.

Being born with the IQ required to be a doctor for example is luck. Of course you still need hard work dedication and perseverance, but there are plenty of people that would like to become doctors and work equally as hard but they simply wouldn’t have the academic ability to gain the desired grades. We’ve all got our limits.

about 250K.
Mortgage about 2500. But fixed rate and one year left.
2 pre-teen kids.
We have a comfortable, middle class lifestyle. Travel a lot, but not business class. House fits our needs, but is not huge or luxurious. Cars are newish, but not flash. So we're OK I'd say.

After tax we have a combined income of 13k a month (we both earn the same).

no mortgage as we paid it off nearly 5 years ago.

two children, one in high school, one in primary (both state schools)

no childcare costs or anything on finance.

we’re very comfortable, but we do save a lot of our income as we have both been poor before and don’t ever want to be in a position where we have no money to fall back on

Income c£110k before tax
£500 per month mortgage, 2 years left
2 teenagers
we’re comfortable but very prudent, early 50s so knuckling down saving and topping up our pensions now as uni costs will kick in within a few years.

@FairyMeriy quite, my mum is one of the most intelligent people I know but as a single parent had to stay in a poorly paid role which was safe and facilitated school drop offs/pick ups, once we were of an age to take the bus etc she changed her circumstances quite dramatically!

• What’s your household income? £72,000
• What’s your monthly mortgage payment? £1,036
• How many children do you have? 0 (1 dog)
• How financially comfortable are you? Fine

Am I normal?

We are out the other side now, mortgage paid off, youngest is 16. Good income (£110k between us)
We always spent a third of our income on the mortgage.

1. About £7k take home
2. Nil mortgage (paid it off after 18years by overpaying)
3. Two teens
4. Very comfortable

When we bought our family home we didn’t have children but we kept in mind there would be maternity leave(s) and going part time to factor in, so we didnt stretch ourselves as much as we possibly could, but still went for a home we could stay in long term (which we have).

It would be nice to have a bigger house/garden but it’s very satisfying to not have a mortgage and to be putting quite a bit of money into pensions and savings.

Income 70k single. Mortgage £540 but overpay £300 so £840 total. 0 kids for now. Very comfortable but being single mid 30s I make conscious efforts to save / ISA / good pension contributions for later life in case I remain single

44k after tax
No mortgage
No dependant children
Comfortable ish

Income £110k, take home is around £6400 after pensions and student loans.
mortgage £1300
2 DC with one in nursery so childcare costs are £1k a month
we are comfortable, can afford holidays, days out, takeaways, can save and also put money into junior ISAs for DCs every month.

Joint income around 44,000
Monthly take home around 3,100
Mortgage 990, plus an overpayment of 200, should be paid off in our sixties
2 adult children at home who pay board, and buy their own food

I feel comfortable but not well off, we have a car each, both fully paid for and well maintained, and two UK holidays a year. We save a few hundred a month for emergencies.

I really agree with this. I'm nearly 50 and our finances now are excellent, but it has been a long and very bumpy road for me and my figures now wouldn't in any way reflect how things were in my 20s and 30s. The best things we did for ourselves were not overstretching ourselves when we bought a house, and living in a way that would be affordable if the lower earner was the only earner.

Household income - around £3k wages with UC top ups and child benefit

Rent is £650 a month

4 kids

Have money to pay all the bills but not lots of luxuries

Total income - £50k
Mortgage £920
2 kids 6 and 4.
Barely scraping by. Car is 15 years old and falling apart. Just finished 6 years of nursery fees. DS4 is autistic so I had to give
up my well paid career as none of the local nurseries would take a possibly autistic child so he ended up at a 9-3 term time only pre school.
ive calculated that over the past 4 years that out monthly outgoings have gone up £700 per month what with mortgage, council tax, gas/elec and food increases!

Net income is £110k after tax, NI and pension contributions, so around £9,200/month.
Mortgage is £3,900/month.
2 DCs.
Comfortable. I work part-time so don't need to outsource anything. Could increase my hours or get a better paid job if I needed/wanted to.

And for an alternate view (pending divorce settlement)

Monthly income = carers allowance £81.90 per week.

Mortgage - I live in DS's house which has a mortgage of £1779 paid by his father

DC - 2 with additional needs - 1 who receives PIP and ESA and not expected to live independently (hence the special mortgage that his father pays) and 1 that receives PIP and student loan.

After a long marriage STBex is happy that DS's disability payments (I am full time carer) and student loan support me so he can enjoy his higher rate tax payer income. Because I am lucky to be a carer because I can live rent free.

I can't wait to divorce the bastard.

Combined income: approx £70k
Mortgage: £0
DC: 2, age 5 and 2
Comfortable: plenty comfortable for day to day living, we are flashy but don't go without. UK caravan holidays and camping for the time being to build up savings and due to high nursery costs, plus the kids love it!