Need positive stories from those who've had to downgrade their quality of life after income changes!

[Ellsiedodah]

Hey all, my oh and I are suddenly in a v different financial situation. We've gone from having a combined income of £100k to somewhere closer to £35k (having a young family + job losses). We're having to sell our London flat and find somewhere that will be considerably cheaper. Probably headed for Cheltenham where my mum lives. My oh says 'we're f*cked', whereas I'm more philosophical, but the happiness in our family comes down to both of our input and so if he feels like this then we're facing huge problems. I would be so grateful to hear from anyone who can tee me up and share - from experience - that life changes but it can still be good. Has anyone had to sell up and downgrade their quality of life but found happiness in new places? Thanks so much x

Many many families live on far less and lead very happy, fulfilled lives

Cheltenham is likely to be quite expensive, have you looked at any other areas?

Y'up.

Gone from a high salary to buggerall.

But, I'm no longer stressed out, no longer doing stupid commutes, no longer only visiting home to sleep. I'm spending time with my DH, we're getting out and about to free-to-be places, and we're getting healthier as walking more and no longer having so many takeaways and treats.

In our case we're on the cusp of launching a new business. Income is going to be low and things will be tight, but I still won't go back to my previous life, unless I suddenly decide I want to for some reason I can't currently imagine.

You'll find a way. You'll get inventive with things. Cheltenham is lovely and there's definitely worse places to be.

We had similar - OH was made redundant, huge sudden drop in income.
I got a job which I love and tided us over for a year, by then he had started working for himself and landed a couple of big clients who pay promptly (important!), now nearly 10 years on he works less than 3/5 of the time for more than treble the ££. Yet at the time I really thought it was the end of the world.

You have a lovely family. Money is not everything. As long as you have a roof over your head, bills paid and food on the table then you are doing WELL.

Were going from 64k to 30k soon when I go on maternity again. You just learn to get by. We still have nice holidays even abroad. Just cut back on luxuries where they aren't needed.

You'll be absolutely fine. Please don't worry. I'm in Bristol BTW 😊

Come to Cheltenham it’s lovely!
I think as long as you have your health and your family you can face up to anything. Try and look on it as a big challenge but also a new exciting chapter in your lives.
Although this is on the whole an expensive area there are some cheaper parts of Cheltenham, and the schools are good.

Sounds quite drastic needing to move house. Is there really no chance of getting new jobs? I do feel for you. im sure lots of posters will say that 35k is loads, but it's a massive change for you all. You will adapt though and I'm sure things will get better with time

Yes. We had to do that for a number of years whilst dh was re-training. It was a non-issue for us, I guess because we were both raised in very, very low-income households anyway so it wasn't like it was something we'd never done. But we were just happy with just being together I guess. It was hard sometimes not getting takeout, simply because food is our love, but also I guess because we'd both gone through some pretty horrific things in our loves, both seperate;y and together, it put it into perspective.

Yes.

Moved from London where we had joint income of approx 70K to a much cheaper part of the country. Income now aprox £18K! But we own outright. No work related costs as husband too ill to work and I am his carer. We do have good savings for emergencies.

We live quite comfortably on this amount and still go out for dinner now and again etc. We are content and very thankful for what we have.

Good luck OP, it will be hard, but you will be fine, I bet.

@iwantanewkitchen I'm so sorry you're having to live with the impact of poor health. You sound like strong, great people and you definitely remind me to stay strong! Thanks for being an inspiration.

Thanks so much all for taking the time to respond and for sharing your experiences. It has really helped to hear from you.