What's a good salary

jdickerson said:
Yeah - but you save a fair bit. I reckon 50k was a good minimum. Although, if I think £35k + £25k is more likely.
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Mortgage Payment: £1,349.16 (6.49% over 25 years)
Income One: £2,153.13
Income Two: £1,578.13

Seems doable on 60K but I am not comfortable with the mortgage taking up almost all of Income Two. Increases in the Interest rate or unemployment of one party would right royally mess things up.

There is enough breathing space in our finances to survive a massive hike in Interest rates or one of us losing our job.
 
LordSplodge said:
Mortgage Payment: £1,349.16 (6.49% over 25 years)
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:confused: 100k over 25 years at that rate on capital repayment works out to around £700pm (not even that) If you are paying £1349.16 then thats a very short term, certainly not anything like 25 years.
 
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Jez said:
:confused: Is that an optional high payment? That seems massive for a 100k mortgage and is way over a normal 25year monthly payment.
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That's not my mortgage payment. Mine is around £600. It was for this post:

What sort of salary would a combined two people need in order to have a £200k mortgage and 2 kids and 1 car with luxuries like sky, broadband, mobile phones?
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...and this answer:

50k? Outside London.
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at the moment im on a lowly salary of £15k while the missus is anything between £12k and 15k and we have a £110k mortgage, sky, broadband, mobile phone each + a little left over for her to go cloths shopping and me to buy some computery bits

I need to double my salary to feel comfortable buying a house i think, bah but i like my job :(
 
mrbios said:
at the moment im on a lowly salary of £15k while the missus is anything between £12k and 15k and we have a £110k mortgage, sky, broadband, mobile phone each + a little left over for her to go cloths shopping and me to buy some computery bits

I need to double my salary to feel comfortable buying a house i think, bah but i like my job :(
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Even if you doubled your salary to 30k that only (!) gives you 45K. Not sure I'd like a 200k mortgage and kids on 45K gievn the current costs of living.
 
LordSplodge said:
Even if you doubled your salary to 30k that only (!) gives you 45K. Not sure I'd like a 200k mortgage and kids on 45K gievn the current costs of living.
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Aye but at the moment its the house i want most, sod kids :p the missus wants them i just want a garden and stairs again (not stairs that lead onto a street :()

stresses me out a lot living in a flat, so many things i miss and so many noises that really **** me off!! i havent even lived here 1 year yet!
 
mrbios; If you are going to move then start thinking about it soon, the market has taken a total beating and is being further stagnated by labour being indecisive about stamp duty freezes. I have an offer going through on a property for approximately 100k less than similar houses sold for 12 months ago due to there being absolutely no competition and the vendor needing a sale urgently. Competition should pick up somewhat if labour make their stamp duty intentions clear.
 
mrbios said:
Aye but at the moment its the house i want most, sod kids :p the missus wants them i just want a garden and stairs again (not stairs that lead onto a street :()

stresses me out a lot living in a flat, so many things i miss and so many noises that really **** me off!! i havent even lived here 1 year yet!
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You have to look at the bigger picture. What happens if you get the required income then get the house and can manage and then the girlfriend gets pregnant. BOOM you are now down to one income and in a whole world of pain.


I understand your urge to get out of a flat (I used to live in one) just play Devils Advocate and make sure you reall can afford what you plan to do.
 
Damien. said:
Where i live the average is 12k, needless to say im on a lot more than that.
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Needless to say? Why is that? What does it matter to the faceless Internet what you earn? You are falling in to the trap of using the amount you earn as a measure of the man.

It doesn't matter to us if you earn 12k or 120k. Neither of those figures makes you a better person. :)
 
LordSplodge said:
It doesn't matter to us if you earn 12k or 120k. Neither of those figures makes you a better person. :)
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In your eyes maybe, what about his girlfriend? I bet she'd prefer a man earning £120k. :) Of course you're right but we all aspire for more when really we should all reflect on what we have, bless our health and love our family.













I'd rather have an Aston though.
 
I've always thought 25k (outside london)is what people should aim for as a minimum. It's enough to live comfortably and have a bit of spare money.
 
The problem is it's so subjective. A friend of mine has to have everything that's new. His house is plastered in "stuff" and he loves it. It's where he derives his pleasure and how he measures his success, never mind time with his family. Each to their own.
 
AcidHell2 said:
I've always thought 25k (outside london)is what people should aim for as a minimum. It's enough to live comfortably and have a bit of spare money.
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An absolute minimum. Several years ago, I had a £34k contract for 2 years and with 2 kids the money went nowhere. Karate, boxing, swimming, clothes, food, school trips, bills etc. £25k just doesn't cut it. Things are more expensive now too.
 
Ed said:
An absolute minimum. Several years ago, I had a £34k contract for 2 years and with 2 kids the money went nowhere. Karate, boxing, swimming, clothes, food, school trips, bills etc. £25k just doesn't cut it. Things are more expensive now too.
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Yeah should have said if ya single. But yep certainly a minimum.
 
LordSplodge said:
Needless to say? Why is that? What does it matter to the faceless Internet what you earn? You are falling in to the trap of using the amount you earn as a measure of the man.

It doesn't matter to us if you earn 12k or 120k. Neither of those figures makes you a better person. :)
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Some people see this differently.

I say the more i earn the better i am. At the end of the day my goal in life it to become sucessful and be the best at what i do. I understand that many people have different opinions about job satisfaction etc but my beleifs are that i work my hiney off to provide a better lifestyle for myself, my girlfriend and any kids i may have in the future.

Im not comparing myself with other people, just with myself and what i was like / earning when i started off.
 
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