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A slightly different take on TJ and Bikebuoys numbers.
£50k per annum. A rich person according to some. Working in London, living in a typical family home.
Gives you about £3k per month.
£1750 mortgage
£150 council tax
£150 heat and light
£400 train ticket
£600 food (£20 per day for a family of 4)
£100 car (probably underestimated)
Already spent £3150 per month. Not many luxuries there either.
don't forget that in London fish and chips are £12-£15 and considered a treat.
🙂
A slightly different take on TJ and Bikebuoys numbers.
£50k per annum. A rich person according to some. Working in London, living in a typical family home.
Gives you about £3k per month.
£1750 mortgage
£150 council tax
£150 heat and light
£400 train ticket
£600 food (£20 per day for a family of 4)
£100 car (probably underestimated)
Already spent £3150 per month. Not many luxuries there either.
Dont need a car in London
Dont need a car in London
That's not London.
That's based on living outside of the M25, hence the £400 for a train ticket.
Besides, £100 a month is not a lot. Wouldn't be much of a car.
but local wages reflect the local house prices (to a certain extent) whats a farm hand earn locally? or the part timer in the local shop? can they afford to buy?
You are assuming a lot there. Particularly about the local skills and jobs.
Good mate is fairly high-up management in an agronomy company operating internationally. Lives in rural Perthshire in a large 5-bed detached house with a couple of acres of land that cost him not much more than your £300k Outer London flat.
i bet they couldn’t afford to live in the nicer parts of Aberdeen where all the oil money is?
I lived in Aberdeen for a few years. You are correct, £300k there doesn't go nearly as far there, but it does buy you a lot more than a flat:
http://www.aberdeenprimeproperty.com/property/6-Weaver-Terrace-AB24-4SD-zqosv7x.aspx
Even more so if you don't restrict yourself to the city centre:
http://www.aberdeenprimeproperty.com/property/The-Stables-Craiglarach-AB34-5ES-fqpvbhr.asp
So according to bikebouy no public servants bar those at the very top of the pile ie consultants, head teachers, chief constables can live in London. Right.
Bikeboyuy whatever way you want to try to cut it those sums show you are amongst the richest in our society. Levels of spending almost no public servants can acheive.
gobuchal - try housing association rental at 1/3 of that.
A typical family home in london is an overcrowded rented flat.
gobuchal – try housing association rental at 1/3 of that.
Could be. If you can get one. Besides, surely if you are wealthy then you shouldn't need to do that and could buy your own home?
A typical family home in london is an overcrowded rented flat.
I am not talking about living in London.
if you haven’t had to pay SE property prices then it’s quite hard to appreciate how difficult it is.
@$&*$$*@$& aaarrghhhhh
And there in a nutshell is why we have Brexit. A ruling class based in London with no genuine clue if what life is really like in the rest of the country.
Makes me so angry. And sad.
if you haven’t had to pay SE property prices then it’s quite hard to appreciate how difficult it is.
@$&*$$*@$& aaarrghhhhh
And there in a nutshell is why we have Brexit. A ruling class based in London with no genuine clue if what life is really like in the rest of the country.
Makes me so angry. And sad
What are you on about?
I now live North of The Wall. Almost as far from the SE you can be in and still be in England.
I lived in the SE for 5 years. Hated it. It did lead to some opportunities that allowed me to get to the position I'm in now.
There is a lot of poverty all over the Country. Go and pay a quick visit to Ramsgate to see the luxury and glamour that the Southerners live in.
A holiday is pretty much essential for general well being. Depending on how much you spend on it determines if it’s a luxury or not.
Good food is not a luxury.
Re-read my whole post. By holiday I mean a trip abroad, and "good" food I was assuming to be luxury items since eating well (not the same thing) can be inexpensive with proper planning and sensible purchasing.
Where do you get your deposit from? Why do you think so many people rent? They can’t be bothered to fill in the mortgage application?
Good point. No need to be an arse about it though, did you not see the wink I left you?
Mort – £2k thereabouts
Car – £800
So, for the mathematicians that’s £2800 so far.. ok?
Food – £400
Schools – £1000
Sodding about being a human £800
And the total is ?? What d’ya reckon??
£5k
Boom!
No business of yours what bloody %entile they sit in, what social demographic they sit or aspire too.
Those figures are realistic, sorry if you don’t get the concept. Maybe read a book on it.
Not up here they aren't. Mortgage on my £98k mid terrace is under £420, car is considerably less if you're not paying PCP and schools are paid for through council tax (there's an easy saving).
The problem is that £80k flat in outer London will cost £350k. So a couple earning a good combined wage of £70k will still struggle to afford it
Absolutely agree, it's all relative.
@$&*$$*@$& aaarrghhhhh
And there in a nutshell is why we have Brexit. A ruling class based in London with no genuine clue if what life is really like in the rest of the country.
Makes me so angry. And sad.
Except, you know... *whispers* London voted to remain.
And there in a nutshell is why we have Brexit.
Besides, pretty sure London voted to remain.
A slightly different take on TJ and Bikebuoys numbers.
£50k per annum. A rich person according to some. Working in London, living in a typical family home.
Gives you about £3k per month.
£1750 mortgage
£150 council tax
£150 heat and light
£400 train ticket
£600 food (£20 per day for a family of 4)
£100 car (probably underestimated)
Already spent £3150 per month. Not many luxuries there either.
Outside of London, average combined mortgage and season ticket costs for the 16 most affordable commuting towns is £1403 a month. Average monthly food spend for a family in the East/South East/London is £250 a month.
£50K a year is £3085 a month. That leaves £1432 a month for everything else.
no kids so DINKYs, considerably better off than friends who have multiple children, but they have the flashy cars.
mortgage is going down well, i reckon 4-5 years to get to a negligable balance,
the horse seems to be fed well.. i fancy going to a 4 day week, (financially i'd manage,) so does the wife. we argue over it, i want her to step up her career (so i can go part time) she says the reverse for me..
i worked hard to get education, qualifications and promotions. now its all about working smart..
i hate hearing the politicians talking about hard working families..
Outside of London, average combined mortgage and season ticket costs for the 16 most affordable commuting towns is £1403 a month
Which are these? Will that get you a 2 or 3 bed semi? Might get you a 1 or 2 bed flat if you're lucky.
Average monthly food spend for a family in the East/South East/London is £250 a month.
£250 for a family of 4? £2 per head per day? Really?
Like molgrips, I'm living within my means from month to month, but whenever something unexpected happens I'm f***ed over.
Still struggling after being made redundant 3 years ago. And before that happened I wasn't exactly a big spender.
Pension contribution has been cut to the government minimum to try and eek out some margin.
Boils my piss when my rabidly brexiteer grandparents mouth off about how we should be having kids etc and how how they struggled to buy a house too in their 20's. Theyv been retired now longer than they were in work. I havent got a margin to be 3.9% poorer in 10 years time, let alone have kids!
Average house price in Bristol is £330k. Assuming a 10% deposit and a mortgage over 25 years,
Mortgage = £1200/m
Council Tax = £200/m
Water/Gas/Electric = £200/m
TVlicense, Internet, Phone, Mobile(s) £80/m
Insurance = £40/m
Food for a family of 4 - £500/m
So, that's £2220/m just to live.
That's without considering transport (£150), childcare (£1000), maintenance of the house/car/kids/clothes (£££).
This could easily be £3500/m just to live.
Add to this maybe student loans at £300/m, Pension £200-400/m £4200!!!
Two people earning £80k (total household income) would bring home £4700 between them...If interest rates go up by 3%, they're in the red. What should they cut down on?
/blockquote>
Go and have a look on Right Move and see what you can get in Luton for £1000 per month. Hardly a rich persons house.
https://www.moneyadviceservice.org.uk/blog/how-does-your-household-food-spend-compare
/blockquote>
I ca't even find how many people the £250 per month is supposed to feed.I'll ask you again, how can you provide good food for £2 per person per day?
Go and have a look on Right Move and see what you can get in Luton for £1000 per month. Hardly a rich persons house.
Who said anything about a rich persons house on £50k a year?
I ca’t even find how many people the £250 per month is supposed to feed.
Family of four according to the ONS. That's the average.
I’ll ask you again, how can you provide good food for £2 per person per day?
Google it. There are lot's of guides on how to do so bearing in mind for many people it's not a choice, they have no option other than to do so.
Well according to Zoopla my house would be £1050 a month rent (I live in Luton) thats a 3 bed 1930’s semi with garage and a big garden, 25 min walk to station and 23 min train to St Pancras.
Interesting reading others views on this subject, especially the North/South differences.
I've posted on here before about how I got used to liivng way beyond my means back around the turn of the millennium after getting caught up in the whole 'Must have nice car/expensive crap/great job' rollercoaster and that when it didn't work out I ended up with a lot of unsecured debt and a very poor state of mind for multiple reasons. Took a good 4-5 years to pay it all back after landing a well-paid job and doing as many hours as I could to get back to zero. I'm now only working 4 days a week but still earning ~£30k a year and only buy stuff that I can easily afford. Not averse to using credit but it's only for small amounts and a short timescale, no 3 years 0% deals etc. If I worked an extra day a week I could easily earn an extra £5-6k a year but I value the extra day off more, means I can get out on the bike more, see friends and family easier and generally step back from the madness. I don't have kids or a mortgage though. Don't want kids but a place of my own would be good so that's the only big debt I'll have in my future, if I ever get to buy one. A mortgage on a single income is hard to get and will eat up a large chunk of my wages!
When I see friends or work colleagues slaving away all hours possible just to tread water with their new cars, big house and holidays I don't pity them or criticise them, it's their choice. What I do do is realise that I wouldn't go that way again, a cheap car, the odd camping/biking trip and a modest home will do me fine.
What should they cut down on?
Children.
I don’t think they can afford them.
Who said anything about a rich persons house on £50k a year?
Quite a few on here consider £50k a year rich.
Google it. There are lot’s of guides on how to do so bearing in mind for many people it’s not a choice, they have no option other than to do so.
So they are poor people then.
As I said £50k per year is not well off.
As I said £50k per year is not well off.
yes it is. just not if you try and flog yourself on that SE treadmill.
Four pages.....Shirley its quite simple? If you spend more than you earn then you are living beyond your means.....and if you don't, you ain't!
Simples!
As I said £50k per year is not well off.
Kinda depends how you define "well off" really. It's a loaded term.
Your estimated 36k pa disposable income makes you about nine grand a year better off than the median household disposable income of £27,300. So you are undeniably earning more than most. But as we've all discussed, your outgoings may be higher too. So at the end of the day you may not feel like you have any more cash in your pocket than an average punter.
Kinda depends how you define “well off” really.
maybe not living beyond your means....
Mort – £2k thereabouts
Car – £800
So, for the mathematicians that’s £2800 so far.. ok?
Food – £400
Schools – £1000
Sodding about being a human £800
And the total is ?? What d’ya reckon??
I live in south east.
Mort £1200
2 cars and a motorbike...very much south of £500 a month inc fuel.
Food £100 a week so yeah £400 a month, less I expect but only have one sprog.
School- free, £200 a month on after school club
Soddingv about being a human...not sure
£5k
Boom!
Not
"<span style="font-size: 0.8rem;">Average monthly food spend for a family in the East/South East/London is £250 a month.</span>
£250 for a family of 4? £2 per head per day? Really?"
Now granted we don't have kids, but our weekly Aldi shop costs between £30-35 per week for the pair of us (£120-140p/m) , if we don't buy booze. We cook all our own meals from scratch, eat little in the way of processed junk food and have a generally pretty balanced diet. Feeding a family of 4 on double that should be just as manageable.
Now granted we don’t have kids, but our weekly Aldi shop costs between £30-35 per week for the pair of us (£120-140p/m) , if we don’t buy booze. We cook all our own meals from scratch, eat little in the way of processed junk food and have a generally pretty balanced diet. Feeding a family of 4 on double that should be just as manageable.
2 kids would turn me to drink though
So they are poor people then.
They don't have to be no. Did you look at some of the guides? You can feed a family of 4 a healthy and varied menu for that sort of cost. You just need to put in the effort of selecting the ingredients and preparing everything from scratch. What it won't allow you to do is buy overpriced ready made or prepared things and waste a lot of food by buying more than you need like most people seem to do. It won't buy expensive cuts of meat or exotic fruit and veg either.
As I said £50k per year is not well off.
It is well off, not rich though.
but our weekly Aldi shop costs between £30-35 per week for the pair of us (£120-140p/m) ,
Does that include your lunch as well? Any take aways?
I guess I probably eat too much protein and I don't do a lot of heavy carbs, so that probably puts my bill up.
I also buy a lot of stuff from the local butchers, tends to be a little more expensive and I do eat a lot of meat.
Thinking about the main meals we eat, I guess they typically cost between £5 and £10 for the 2 of us. A little more if a more expensive bit of beef/steak etc.
I reckon we spend on average £5 per head per day. Rarely eat out but get take away once or twice a month.
Quite a few on here consider £50k a year rich.
well off, yip, rich, nope. I don't think anyone is saying that.
Much better to have two incomes at £25K than one at £50k.
"Does that include your lunch as well? Any take aways?"
Typically we cook 4 portions each evening - two for evening meals with left-overs for lunch the following days.
Take aways are luxuries we have occasionally. Don't get me wrong, we don't have to have such a tight budget so frequently do spend more, go out for dinner, buy a few bottles of wine etc. What I am illustrating though is that it would be perfectly feasible to feed a family 3 healthy meals a day on around £250 a month
Mort – £2k thereabouts
Car – £800
So, for the mathematicians that’s £2800 so far.. ok?
Food – £400
Schools – £1000
Sodding about being a human £800
And the total is ?? What d’ya reckon??
I live in south east.
Mort £1200
2 cars and a motorbike…very much south of £500 a month inc fuel.
Food £100 a week so yeah £400 a month, less I expect but only have one sprog.
School- free, £200 a month on after school club
Soddingv about being a human…not sure
£5k
Boom!
Not
Big deal, that’s you and you say you live in the South East? Not London then.
Carry I’m trying to put prove my workings, I’m waiting for someone to prove otherwise 🤣
The problems with terms like "Rich" is that they are subjective and loaded with judgements.
£50k before tax would put you in the 89th percentile using the latest ONS figures (2015-2016 tax year).
So 88% of the working population earn less than that and 11% earn more.
Carry I’m trying to put prove my workings, I’m waiting for someone to prove otherwise
You what now?
I honestly think a lot of folk end up living beyond their means because they are down or even depressed. They get in to a routine of comfort buying things in an attempt to feel better about themselves. Pretty sad when you think about it.
When I’m feeling low I tend to browse the web for things I’d like to buy. Luckily I have next to no disposable income and have an inbuilt aversion to spending thanks to being born in Yorkshire.
Bikebouy, I think it’s the £21600 you spend annually on cars and school fees that aren’t helping. Don’t you also have an additional £10k for d1cking about being a human?
To be fair there is a multi-billion pound industry (advertising) whose sole purpose is persuading people to buy stuff they don't need. And then there are endless banks who seem happy to lend money to people who can't afford to borrow it. A very odd way of engineering society when you think about it.
Bikebouy your £2k mortgage payment is more than my take home pay and I live in the SE. So yes I consider you pretty well off.How you spend your income is up to you but however you look at it you could choose to have lower outgoings. I admit that in the SE mortgage payments can be ridiculous but the other outgoings are pure choice.
I have a mate who is ridiculously wealthy on paper but has very little disposable income. Asset rich money poor. He has a long term plan to retire early but in my opinion he is missing out on life. No good having loads of money and too old and infirm to enjoy. It's about getting a good balance.
Except, you know… *whispers* London voted to remain.
Besides, pretty sure London voted to remain.
Oh Lord give me strength. I know that. BUT the majority of people in the rest of the country, who are sick and tired of the Londoncentricity of UK government were given a once in a lifetime opportunity to express their dissatisfaction and have voted out of the EU.
If the UK had an enlightened view of spreading the wealth and jobs around the country instead of hoarding it all down south then we wouldn't be in this shitty mess.
<p>Oh Lord give me strength. I know that. BUT the majority of people in the rest of the country, who are sick and tired of the Londoncentricity of UK government were given a once in a lifetime opportunity to express their dissatisfaction and have voted out of the EU.</p><p>If the UK had an enlightened view of spreading the wealth and jobs around the country instead of hoarding it all down south then we wouldn’t be in this shitty mess.</p>
<p>Oh right. Well in that case if you're going to say</p>
<p>@$&*$$*@$& aaarrghhhhh</p><p>And there in a nutshell is why we have Brexit. A ruling class based in London with no genuine clue if what life is really like in the rest of the country.</p><p>Makes me so angry. And sad.</p>
<p>In reply to:</p>
<p>if you haven’t had to pay SE property prices then it’s quite hard to appreciate how difficult it is.</p>
<p>Then kindly supply a link to a fortune teller who can divine that from what you said. Because as blindingly obvious as you seem to think your statement it is it really isn't.</p>