2018: What's considered a decent wage within reason?

[grudas]

Don't worry, the time will come. I was on 100K, happy as larry, and then out of the blue on a **** up in Belgium my Wife told me she wanted a baby. Nearly spat my beer out. Think I was 32 at the time

haha, no thanks! we've agreed with my woman that kids are a no no, she doesn't like the idea and neither do I thank god!

 

[413x]

haha, no thanks! we've agreed with my woman that kids are a no no, she doesn't like the idea and neither do I thank god!

Same.
If one of us changed our. Mind would be relationship over

Simply cannot afford it

 

[bowey]

Seriously can not understand how people under 30k a year are living ok.. is everything just on tick with low payments? Living a life of Chucky is definitely not what I'd call comfortable. Obviously I've just been brought up on can't afford it don't get it.

 

[Rroff]

Seriously can not understand how people under 30k a year are living ok.. is everything just on tick with low payments? Living a life of Chucky is definitely not what I'd call comfortable. Obviously I've just been brought up on can't afford it don't get it.

If it wasn't for rent/mortgage - in terms of rent/house prices not having significantly outstripped salary brackets - I could quite easily live on less than 30K without having to compromise that much - maybe turn down some of the indulgent luxuries but I'd still be able to afford a good few.

Its the recent increases in things like rent and other tax/service related stuff that is really biting those I know on <30K.

 

[bowey]

If it wasn't for rent/mortgage - in terms of rent/house prices not having significantly outstripped salary brackets - I could quite easily live on less than 30K without having to compromise that much - maybe turn down some of the indulgent luxuries but I'd still be able to afford a good few.

Its the recent increases in things like rent and other tax/service related stuff that is really biting those I know on <30K.

Oh I know I didn't mean it in a disrespectful way I'm just curious as to how people cope as like you said houses buying or renting is absolutely crazy prices these days

 

[Rroff]

Oh I know I didn't mean it in a disrespectful way I'm just curious as to how people cope as like you said houses buying or renting is absolutely crazy prices these days

Gotta be frank its why I'm back living with my parents still - moved back a few years ago after being made redundant and though I'm on reasonably good money (and currently getting unsociable hours bonus and extra due to covering duty manager and having keys to the building, etc.) I'm in no hurry to move out again - originally was saving for a deposit but now I'm just saving long term and see how things fall out - maybe buy up a place almost outright if there is a burst.

 

[Name]

Currently earning close to minimum wage for almost 6 years now, living at home, and even after saving for around 5 years, i cant comfortably afford a mortgage down payment or even a decent car, never mind bills and various other taxes and expenses...and holidays.

I'd say £23-27k a year would be comfortable, given my circumstances.

 

[Nasher]

For London 40-50k. Most other places, maybe 20-25.

There are a lot of people working in London on low wages though. I'm guessing they either live with parents or already owned a place before the prices went crazy. I suspect there is going to be a massive worker drain at some point, because people simply won't be able to afford to do a low end job in London anymore or even commute in.

If you get a good mortgage (WAY cheaper than renting) and don't have kids, you can easily live on under 30k.

 

[Deus Ex]

First two years post medical school I spent <£1000 a month, lived in a **** hole, literally worked 20+ days in a row sometimes because overtime pay was pretty good.
Now I've eased up a bit and only work 48 hours and live in a nice shared flat I think £1400 affords a nice lifestyle, second hand car and holidays for a 20 something with no kids.
The huge problem is that too many people want to look rich (flash hire purchase audi etc) but cant actually afford it.

 

[SpeedFreak]

Ouch, my rough fag packet calculations are that 5 days of nursery is equivalent to 1 person earning minimum wage.

3 days a week was costing £1300 a month or so.

 

[Telecaster]

Seriously can not understand how people under 30k a year are living ok.. is everything just on tick with low payments? Living a life of Chucky is definitely not what I'd call comfortable. Obviously I've just been brought up on can't afford it don't get it.

I cope fine with zero debt, but then I live quite a frugal lifestyle. I never want for anything I need, in fact I rarely even check my current account balance.

Not quite sure what some people's expectations are, sounds like a fair few need to wind their necks in a bit. I guess now everyone lives for instagram they feel the need to have everything or be deemed a failure. Pretty sad really.

 

[DanTheMan]

Whenever these sorts of threads crop up, I always question if I am living a different life to most people on here.

We have a combined household income of £52k give or take which seems on low/average for this forum. There's 2 adults, 1 child in childcare 3 days per week and 2 dogs. We have £160k remaining on the mortgage, 2 cars, one is financed through a loan with around £9k remaining.

After all expenses including food, we have roughly £1k spare disposable income and I don't feel particularly stretched or panicked financially.

 

[sigma]

£80 a month for a gardener? I'd expect all household bushes to be neatly trimmed for that price...

 

[grudas]

Whenever these sorts of threads crop up, I always question if I am living a different life to most people on here.

We have a combined household income of £52k give or take which seems on low/average for this forum. There's 2 adults, 1 child in childcare 3 days per week and 2 dogs. We have £160k remaining on the mortgage, 2 cars, one is financed through a loan with around £9k remaining.

After all expenses including food, we have roughly £1k spare disposable income and I don't feel particularly stretched or panicked financially.

I think it depends on where you live really, as living costs are massively different down south.

 

[Holst1981]

Seriously can not understand how people under 30k a year are living ok.. is everything just on tick with low payments? Living a life of Chucky is definitely not what I'd call comfortable. Obviously I've just been brought up on can't afford it don't get it.

Its all down to your circumstances.

Me and my partner earn 26k and 30k
We don't have any kids and don't want any.
Will be mortgage free in 7 years (I'm 37)

We have a very good standard of living.

We don't have anything on finance and save up to buy stuff.

 

[The_Abyss]

I find it incredibly stressful to plan. I'm happiest when I can just wake up and think 'it's a nice day, I'm going kayaking'. I think if I had to plan for child care etc I would lose my hobbies. And I'd need a more stressful job to boot. Had no time last night at all and that was just getting back late, gym and TV while eating.

Having to downgrade living while getting paid more just doesn't work in my head. Childcare is obscene amount of money.

I think it is different for everyone. I find it stressful not to plan to work towards a goal.

 

[Scam]

Whenever these sorts of threads crop up, I always question if I am living a different life to most people on here.

Sounds like you're just sensible really. (EDIT: And have really low living costs!). I don't know how to work out the maths for an existing mortgage but say you buy somewhere now for £200k with a £40k deposit (20%, norm for today) then your payments are only £700-800 a month. Assuming you've had your mortgage a while I'm guessing you're paying less than that, which no offence in today's money is pittance. If you and your other half are bringing in £3k/month after tax then no wonder you're pretty comfortable.

If you get a good mortgage (WAY cheaper than renting) and don't have kids, you can easily live on under 30k.

This, really. The divide between those who have been paying off a mortgage for 5+ years and those who are stuck renting is massive, and only getting bigger. As a 30-something I can see it even at work with my peers. There's some who were lucky enough to buy a small flat somewhere in London years ago and are now in small houses worth £600k+, whereas anyone that rents is either living with a partner or housemates and much less happy with their outgoings.

 

[Nasher]

Yep, if I was renting my house I'd be paying at least £3-400 a month more, it's crazy how much of a money black hole renting is. My mortgage won't go up every year either.

 

[UTmaniac]

Whenever these sorts of threads crop up, I always question if I am living a different life to most people on here.

I consider my partner and I to be an exception to the rule, we both earn close to minimum wage for someone working ~37.5 hours, but both of us work under 30 hours a week due to long term mental health health issues that we have both had to deal with for 20+ years. We both tend to hide away from the world outside work, although that has changed for me a bit in the last year with fitness cycling, but because we aren't drinkers or smokers we are now able to treat ourselves to "new toys" while saving for our first mortgage deposit as my partner has been working for ~3 years.

It really does frustrate me that we have paid ~£75k over ~12 years in rent for the same flat, during which time the rent has increased by ~25%, which would have been a decent amount of mortgage repayments... But until my partner recently started working, we would not have got a mortgage even on a shared ownership home based on my wages alone.

If we were more "normal," our combined ~£28k gross would be a real financial struggle, but then if we were more normal we would both be capable of working more hours and earning more wages.

 

[MG42Maniac]

We had our tenancy renewal letter through today, it's gone up from £950 a month to £990 a month. A small increase but considering we could get a mortgage on the place we currently rent for £750 a month it's a bitter pill to swallow. Thankfully we are looking to buy this summer so have avoided needing to shell out even more. I think it's when you get trapped in spiralling rental prices that you really need to seek higher-paid jobs; otherwise, I don't really see how you can get out of it, especially with a family.