How much would you need to earn to be "Comfortable"

djmc0 · 19 Sep 2009 at 19:51

mglover070588 said:
I can actually believe that. I suppose it is all relative to house (or rent) prices of the area.

Well, I pay close to £600 rent, not including council tax, which is crazy, good move by the government changing the name from poll tax to council tax, on top of that is the bills and food. It really isn't easy living in London. Unless you are an investment banker.

Edit - Typo

Kezmo · 19 Sep 2009 at 19:52

40k and a life time supply of ice cream....I LOVE ICE CREAM!!

Nitefly · 19 Sep 2009 at 19:53

oldbag said:
Depends where you live, if it's the south east, not so easy.

True.

Van Hellseek · 19 Sep 2009 at 19:54

I think some people here don't understand the difference between 'comfortable' and 'well off'.

The Halk · 19 Sep 2009 at 19:58

seek said:
I think some people don't understand the difference between 'comfortable' and 'well off'.

I was trying to make that clear in the first post. But at the back of my mind was also my mindset from 3 years ago and further back.

I've now reached a point where my debt is repaid, and I have a reasonably good income. And suddenly I find I actually need much less money to be happy than I thought I did.

80 in the pub no longer appeals to me. My PC is upgraded over time, so while I do run a very expensive rig it's not big chunks. Maybe 1 or 2K a year at most, sometimes less. I'm most content having a meal with friends, or curled up with a mug of tea reading a book. Back when I had a lower income, and was repaying student debt I was nowhere near as optimistic about my finances as I am now. Anything ridiculously expensive I wouldn't buy anyway, regardless of how much money I have, I guess just on principle.

atpbx · 19 Sep 2009 at 19:59

Nitefly said:
Outside of London, I imagine 25k will let you live a very comfortable life. Comfy could easily be as little as 18k, depending on lifestyle.

No, thats not the case.

Unless you are content with living in council accommodation and all the associated benefits that brings (IE they pay for all the maintenance, and you pay lower council tax than a home owner) then 18k isnt enough.

Before Labour got into power it used to be enough to buy and run a home off your own back, not any more.

MikeHunt79 · 19 Sep 2009 at 20:01

30k a year in Bristol, god knows how much if I have to move to London!

djmc0 · 19 Sep 2009 at 20:06

djmc0 said:
Well, I pay close to £600 rent, not including council tax, which is crazy, good move by the government changing the name from poll tax to council tax, on top of that is the bills and food. It really isn't easy living in London. Unless you are an investment banker.

Edit - Typo

As I said I earn 24k basic, but without the overtime and on call bonus that I get, I think that I would be in trouble. Them two items can take my wage upto 37k, that is if I am willing to work 60hrs a week, which I do a lot of weeks.

DanH84 · 19 Sep 2009 at 20:06

well, going off 18k for a second.

£1,195.35 is what i-resigns salary calculator puts as your monthly net earnings.

i live in worcestershire and a decent enough flat to rent comes in at around £450+

so at a guess:
£450 accomodation
£80 council tax (single person)
£75 gas/electricity
£30 water
£15 tv license
£40 sky/internet
£160 food

comes to around 850, then you'd have to look at social life, car and clothing. you won't be saving anything but it's just doable.

it really is where you live as the accomodation issue decides it.

buckeejit · 19 Sep 2009 at 20:08

currently on 14,500 and I'm comfortable but I live at home. If I lived on my own, I'd say about 22,000 to be comfortable.

Rroff · 19 Sep 2009 at 20:09

MikeHunt79 said:
30k a year in Bristol, god knows how much if I have to move to London!

Depends... I dunno what rent is like in Bristol - a bit higher I'd imagine than where I am - but I'm a few miles south of Bristol and the rent here is half what I was paying for an equivalent place in London... so you'd need an extra £500-600 a month for that... in most other regards the cost of living is pretty similiar although you'd prolly be making more use of public transport so prolly an extra ~£30 for week or month travel passes... and the lifestyle culture with regards to work, etc. seems a bit different too - a lot more socialising, etc. so prolly another £100+ on restraunts, pubs, etc.

Housey · 19 Sep 2009 at 20:09

It will be different for each person as one persons comfy is another persons nightmare.

Van Hellseek · 19 Sep 2009 at 20:10

DanH84 said:
£160 food

For one person? What are you, a sumo wrestler?

dowie · 19 Sep 2009 at 20:11

250k

(London)

DanH84 · 19 Sep 2009 at 20:12

seek said:
For one person? What are you, a sumo wrestler?

£40 a week? I've lived on far less for food but for a single person that buys a good amount of good quality stuff. If i was living on basics then i could bring it down massively.

*been a while since i lived by myself to be fair so maybe i'm out a bit.

Russinating · 19 Sep 2009 at 20:22

Eleventeen hundred squids and a donkey. I could get by without the donkey, but you said "comfortable".

Nitefly · 19 Sep 2009 at 20:22

atpbx said:
No, thats not the case.

Unless you are content with living in council accommodation and all the associated benefits that brings (IE they pay for all the maintenance, and you pay lower council tax than a home owner) then 18k isnt enough.

Before Labour got into power it used to be enough to buy and run a home off your own back, not any more.

Well on 18k I would expect somebody to be sharing rented accommodation.

If your not struggling to pay the bills and can afford the odd luxury, then I would say that your are comfortable, surely?

GSDog · 19 Sep 2009 at 20:24

Rroff said:
After tax, I'd need 25K to live comfortably - possibly 30K.

+1

That would allow me to live in a fairly nice place and be able to go on holidays and buy the odd gadget.

Van Hellseek · 19 Sep 2009 at 20:35

DanH84 said:
*been a while since i lived by myself to be fair so maybe i'm out a bit.

No, you're right. It's a perfectly reasonable amount. I guess a part of me is still clinging on to my student days, when my food budget was as little as £15-20.

jamief · 19 Sep 2009 at 20:46

To be comfortable I wouldn't need very much - as long as my wife and I have a roof over our heads and food on the table then I'd be comfortable. Saying that, I've been "comfortable" since I graduated from Uni, and I earn a lot more now than I did then.