comfortable salary

krooton said:
So 40% on earning over £35k (£21k) leaves you with £12.6k.

Your first £7.5k is tax free, taking you up to £20k when added to the above.

The remaining £27.5k is taxed at 20%, leaving £22k, leaving your total after tax at roughly £42k.

Current national average is around £23.5k now (took a big dip last year).

7.5k free of take, the remaining £16k taxed at 20%, leaving the average UK person with £20k.

After tax, you still have more than double that of the average person in the UK.
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Which is utterly meaningless without some kind of context.

If you're working 12 hours a day to earn that money, I'd say that was very uncomfortable and I'd sooner take the national average at 6 hours a day.

Living comfortably is not just about what you pull in, after all, what good is earning a 40% tax bracket salary if you're too shattered on weekends to spend it? :)
 
I'm earning $540 CAD a week on a university placement. $415 + utilities a month on rent. It's pretty sweet but I'll miss it when I come home.

Though I don't drive a car, which while it leaves me a lot more disposable income, is a bugger as this place seems pretty car centric in getting places. Simple places such as Subway and Starbucks are 25-30min walk away. :(
 
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Theophany said:
Which is utterly meaningless without some kind of context.

If you're working 12 hours a day to earn that money, I'd say that was very uncomfortable and I'd sooner take the national average at 6 hours a day.

Living comfortably is not just about what you pull in, after all, what good is earning a 40% tax bracket salary if you're too shattered on weekends to spend it? :)
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Depends when you want to do your living, I'd rather work harder now and put myself in a better position to enjoy my time later in life.
 
Here in Manchester, £2k after tax would be a very comfortable amount, so ~£32k. That would get a nice 3 bed semi, a decent car and plenty left over for bills and treats.
 
LordSplodge said:
It's OCUK forums where everybody is a high flying exec with a big house a nice BMW and ten computers.

Anything less would be classed as poverty. :D
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No, but it depends on what one views as comfortable ... as one earns more, one tends to also spend more on luxury goods, such as better/fancier foods, etc.
 
Impossible question as it depends on where you are in your life. If you are young with little other than yourself to sustain then not a lot. If you are young with a family then more, if you are older and have done some ladder climbing quite a bit more to sustain the life you've become accustomed to. So the answer is simple...

It depends.
 
Housey said:
Impossible question as it depends on where you are in your life. If you are young with little other than yourself to sustain then not a lot. If you are young with a family then more, if you are older and have done some ladder climbing quite a bit more to sustain the life you've become accustomed to. So the answer is simple...

It depends.
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Indeed, first you have to define what is 'comfortable' to you, and then you need to assess the area you live in and the life you lead.

Someone in their their early twenties, single, renting a small apartment would probably be comfortable on £20k a year, someone a little older with bigger expectation would expect it to be £30k and so on.

It also depends on your upbringing and background, I would have said for me personally about £40k a year is a comfortable salary at my age and responsibilities, I come from a pretty poor background, when I asked the wife, who comes from a very privileged background her answer was £100k.

SO I think that illustrates the difficulty in giving a definitive answer.
 
I'd say anything between £25-30K realistically outside of London.

My brother is managing to live on London on around £20k sharing an appartment with 2 or 3 others. No idea how 'tight' things are for him though.

Still living at home so can't really gestimate very well. Though I'm saving almost 50% of my salary annually while I can so that I'm as comfortable in the future as can be.

Though I'm quite fortunate in that what my father left me in his will means I won't need a mortgage (even on a 'family home') so I'll be able to get by on less than most people. However this doesn't mean I don't have ambition to do well :)
 
Having become single and still looking at taking on all costs myself; mortgage, house bills, car, insurances, etc I am looking at 30k just to get by with getting a smaller crap cheap car, cutting back on all outgoings. And Dundee is one of the cheapest places in the uk to live. I dont see how your could be 'comfortable' on 30k anywhere a bit up market.

To be comfortable I would be looking at double that to have some money to save/play with. Any single girls about on 30k+?
 
London 40k+ to be comfortable. 30k+ would be ok, but not as much fun as you would have to be aware of what you spend and be good at budgeting and sticking to it.
 
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