It was a choice to have 4, not a lot you can do when twins come a long, but yes 100k depends on situation, jesus if I was earning that when single no kids, I would rather not think about it lol
What is a good salary in UK at present?
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It was a choice to have 4, not a lot you can do when twins come a long, but yes 100k depends on situation, jesus if I was earning that when single no kids, I would rather not think about it lol
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That's something people don't realise.
Ouch. Well anyway I agree 100k single is tremendous.
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We don't struggle per se. But it's not as if we're not having to save to buy stuff or use the credit card to buy us time. That said the main benefit for me is how much I'm putting into my pension.
End of the month it's me that pays for 95% of the household.
That's over £4k per month I need to contribute to, to cover everything from the mortgage, to food shopping utilities, cars (2 crappy diesels with 90k+ miles on the clock), insurance, taxes etc.... plus 2 kids and the paraphernalia they create (which I'm not complaining about) and their clubs and after school activities. Plus saving for holiday etc...
You're not left with a huge amount to "play" with.
However, admittedly we do buy good quality food (butcher, market, Waitrose etc...) and we do go on 2-3 holidays a year, but we don't pay for accomodation as we stay with family. We have no debts other that the occasional credit card and the mortgage and we can pay our bills.
I haven't bought a new TV in 6/7 years. Our house needs a lot of work (modernising), however we prioritise giving the kids experiences, so weekends are clubs and activities, seeing friends, going away etc.... we just can't afford to do both that and improve the things we need to or buy the things we want. It's our choice to sacrifice that but it's worth it to give the kids a rounded education and life.
I don't care about being rich or well off, as long as I can pay the bills, offer my family a good safe a d enjoyable life that's all that I care about. I'd love to be able to spank some cash on a new car or modernising the house or even save up for a deposit for a new home. But even on a 6 figure salary when you're the sole earner it doesn't enable you to live the rockstar lifestyle.
By the way I'm not complaining or seeking sympathy. Just giving my perspective. I know I could make different decisions but I wanted to share that I can't do it all.
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Soldato
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Absolutely. Just going off a normal tax code, no pension contributions:
£100k take home is £67,049.
£50k take home is £38,022. Doubled gives £76,044, meaning just shy of an extra £9k/year to play with. That's a big difference.
Soldato
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Plus you get full child benefit, which always annoys me
2 x £50k earners can claim it, 1 x £60k can't
dlockers
D
dlockers
Tax free childcare - you get 2k if you earn 99k each (199,999/year) but 0k if one of you earns £100,001 and the other earns nothing
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I've said it before but a couple both earning 50k'ish does seem to be a right lifestyle sweet spot (less so the past year but still), & many people in a variety of careers can probably get up to 50k earnings in their life, without having to work excessive hours / need impeccable education etc.
Yeah it's absolutely the sweet spot for me.
No need to manage or be on call.
Pension can minimise hit of higher tax payer.
Enough for plenty of spare money
Bonus is I work from home.
More senior is just going to
-add responsibility
-add stress
-higher rate tax will make increases seem less
Actually, at my place, someone who took on the senior role just dropped back because it wasn't for him. It certainly isn't for me
If my partner was on 50 and not 30 really would feel very well off
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This may help:
Vasectomy
Find out about vasectomy, including how it is carried out, risks and benefits and getting it on the NHS.
www.nhs.uk
Bit late now though
This may help:
Vasectomy
Find out about vasectomy, including how it is carried out, risks and benefits and getting it on the NHS.
Bit late now though
I really need to get round to this
For average couple wanting family I would say 50k each, any more beyond that will be tax higher rate which you can off set a little by paying into pension etc.
Everyone needs is different and I just cut my hours recently just so that I don't get tax at higher rates, I value my time more than money. I want money but just not worth it at my stage
Everyone needs is different and I just cut my hours recently just so that I don't get tax at higher rates, I value my time more than money. I want money but just not worth it at my stage
Soldato
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I actually had an appointment to have this done, then covid happened and it was cancelled, cant say I was disappointed.
Its so difficult to get GP appointments round here so 8 just haven't tried.
At 38 I doubt they will push back.
My gf is still sure she doesn't want kids. She's 32 this year.
An AVERAGE couple, combined income of £100k? This is the difference between the classes - they have no idea about the real world and what people are actually living on. It's like when a reporter asked a wealthy person/celebrities how much a pint of milk cost - the ignorance was shocking.For average couple wanting family I would say 50k each, any more beyond that will be tax higher rate which you can off set a little by paying into pension etc.
Everyone needs is different and I just cut my hours recently just so that I don't get tax at higher rates, I value my time more than money. I want money but just not worth it at my stage
dlockers
D
dlockers
We shouldn't be dragging society down to the lowest echelons.
Oh very true, but it's the reality. People are surviving on much less than that with families. Also noted that their location is London, which is also skewing the national figures.
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Soldato
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I was 43 when I asked my GP for referral, she was quite surprised , asking me if I was sure etc.
Other half is 43 now so any accidents are getting more unlikely, but obviously still a risk there. She is not keen on most of the contraceptives so will have to book it in again...not looking forward to it though.