Are you a top revenue earner?

Mason- said:
Don’t think so. Thought the last band is at £125k although between £100-125k you lose your personal allowance so the rate there is effectively 60%, then £125k+ is 45%

Edit:

It’s £150k that it goes to 45%
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I thought they lowered it to 125
 
CapitalOne said:
Bugger yes 125,400 is the new 150,000!

eta I think that one of the mops used to clean up the truss-puddle.
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Worse, 125k is the new part time earning 100k. Tax trap is miserable, may as well ding the entire economy and drop 20% of your time for roughly the same take home :)
 
Freefaller said:
Interestingly in other parts of the world people talk about salary more openly. This is certainly true in European countries but I wonder why we're so funny about sharing our salaries in the UK?
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There’s certain people I can talk to about salary/money and certain people that I won’t…

When we do talk money we tend to talk board figures.. we have accounts in the family which is good for tax advice and they have colleagues that they can ask about financial advice.

The ones I don’t.. some just assume that I’m on a million bucks per hour and after a free lunch or something..

Some people are really sensitive about how much they earn and don’t want to talk about money matters at all.. I learnt some of the best money management advice from talking about it.
 
Minimum wage :rolleyes:
Have plenty of savings in the bank and putting away £500-1200 every month in savings depending on bonuses. Expenses are around £700 per month (mortgage, electric gas etc) and I don't like "things" so live relatively minimal/frugally even though I don't need to.
 
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MatsyLR said:
Minimum wage :rolleyes:
Have plenty of savings in the bank and putting away £500-1200 every month in savings depending on bonuses. Expenses are around £700 per month (mortgage, electric gas etc) and I don't like "things" so live relatively minimal/frugally even though I don't need to.
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Similar here, though I don't get bonuses so I don't save that much. Also, I waste money. I save ~£300 a month. I could probably save ~£500 a month if I tried. It's bloody great having money. I recently had ~£4500 of necessary unexpected extra expenses. In the past, that would have been ruinous. Now it's tap some numbers on a keyboard, no worries, plenty more in that account. I don't even know how much money I have. I no longer need to care. I probably should pay more attention, but after a long time of being poor not caring about money is a wonderful freedom.

So despite being a minimum wage flunkey, I think that by practical measurement I am well off financially. Charles Dickens (through one of his characters) summed it up very well, I think;

Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
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My issue is that I don't have a private pension because my works pension became worse and worse and worse until it was useless. When I got a projection saying that my pension was expected to be £22 a month after paying maximum contributions for 39 years, I realised that it was pointless. When I started it, maximum contributions for 39 years was going to get me a pension of 39/60ths of my final salary. And I had an additional scheme on top, a private scheme. It was a struggle to make all the payments, but I thought I had my retirement sorted. But no, it was made very clear that I was too poor for a pension.

Eventually I changed my lifestyle to be cheaper and was able to save money. So now if I lose my job I'll get bugger all. If my savings were labelled "pension" I'd get the dole, but because they don't have that magic word attached to them I won't. I'd have been better off ******* all the money up the wall rather than saving anything.

I might be a tad bitter about that.
 
slinxy said:
There’s certain people I can talk to about salary/money and certain people that I won’t…

When we do talk money we tend to talk board figures.. we have accounts in the family which is good for tax advice and they have colleagues that they can ask about financial advice.

The ones I don’t.. some just assume that I’m on a million bucks per hour and after a free lunch or something..

Some people are really sensitive about how much they earn and don’t want to talk about money matters at all.. I learnt some of the best money management advice from talking about it.
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companies love it when people don't talk about salary as it allows them to take the p.... and get away with it.
years ago my boss heard me talking to a colleague who was also a friend about salary. she threatened to take me to HR and put me o. disciplinary. I politely told her to do one. my salary my choice.
she said it was in my contract it was confidential. she may have been right I dunno and didn't care.
due to when the person I was chatting to was employed they were on considerably more than me.
they had less experience , no better qualifications and I was training them.
other stories like this came about between other people. it turned out on top of when we were employed (with longer serving staff being shafted) also turned out despite doing the same job depending on who your manager was and how pally you were with them affected your salary by £1000s.
there was a big internal pay review with people threatening to walk out and complain about the company. I got a £3000 pay rise overnight despite not getting a promotion . (this was huge - I was on about £13k at the time - note am going back 25 years.
sometimes some transparency (not exact figures) at least among your peers can help you
 
Angilion said:
Similar here, though I don't get bonuses so I don't save that much. Also, I waste money. I save ~£300 a month. I could probably save ~£500 a month if I tried. It's bloody great having money. I recently had ~£4500 of necessary unexpected extra expenses. In the past, that would have been ruinous. Now it's tap some numbers on a keyboard, no worries, plenty more in that account. I don't even know how much money I have. I no longer need to care. I probably should pay more attention, but after a long time of being poor not caring about money is a wonderful freedom.

So despite being a minimum wage flunkey, I think that by practical measurement I am well off financially. Charles Dickens (through one of his characters) summed it up very well, I think;




My issue is that I don't have a private pension because my works pension became worse and worse and worse until it was useless. When I got a projection saying that my pension was expected to be £22 a month after paying maximum contributions for 39 years, I realised that it was pointless. When I started it, maximum contributions for 39 years was going to get me a pension of 39/60ths of my final salary. And I had an additional scheme on top, a private scheme. It was a struggle to make all the payments, but I thought I had my retirement sorted. But no, it was made very clear that I was too poor for a pension.

Eventually I changed my lifestyle to be cheaper and was able to save money. So now if I lose my job I'll get bugger all. If my savings were labelled "pension" I'd get the dole, but because they don't have that magic word attached to them I won't. I'd have been better off ******* all the money up the wall rather than saving anything.

I might be a tad bitter about that.
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Yeah I think you've got the maths wrong on this one unfortunately...
 
Hey maybe I should retrain, get my psv CPC and a dbs check and start earning the big bucks down here

Screenshot-2024-03-01-08-17-56-07-99c04817c0de5652397fc8b56c3b3817.jpg
 
Worthy said:
As it’s the prekend and it’s under 10c I’m going to allow the heating to be on for 15 minutes tonight, but only if the boiler is set to eco.
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There was an advert for electric blankets on telly the other day. A woman came home and the thermostat showed 16.5c, so she put on her leccy blanket.

It's fair to say my wife and I had differing views on this.
 
mattx4 said:
Our household income has varied from 40k to $500k over the last 15 years and can honestly say that I think the salaries have not had any direct correlation with our overall happiness and we would be just as happy if we downsized our lifestyle. Which is something we are considering with a move back to the UK
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Money matters... To a point.

Then it's time (as you say in another post)

We earn much much less (household of 80-90 gbp) but we also have a cleaner.

If I earnt more I'd just get more jobs done. To free up time. But really, I'd want more time off. I'd certainly rather 3 days off a week at 60k than 2 days at 90k

Or even better more holiday. So I could take 1 month off 3 times a year or something.
These jobs are hard to find. Because to make use of that time you need a semi decent salary.

At my 40-60 band I can use all my holiday for holidays. Ie I don't just have "a day off" because just to use it.

For example. My next holiday is gonna cost 3200 for 7 days off work. It's affordable to spend this amount on my wage. Holidays are expensive now. Much more expensive than a few years ago.


As I've said before.. Holidays/experiences are all I really use spare money for.
 
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