Income brackets: what is prception of low/middle high

PasturesNew

Pobby wrote: »

...Having no mortgage we say that an after tax income of £2000 a month is ample.

I'd say £2k take-home is loaded
But at £1k take-home it's hard to cover the basics of rent, bills, cost to get to work, food, a basic life (no holidays, no posh outings, watching the pennies to the point where people in couples call you tight because they just don't realise you don't HAVE the money, they think you're just tight)

£33,000 gives a take-home of £2k/month for a single salary.

SandC

It is all about perception and circumstances. I'm still dreaming of reaching the £20k mark but I do okay for what I do and where I live. I consider myself to be middle rather than low, certainly that's the case in my area.

However, I have spent many years being the lowest earning of groups of friends/colleagues and found it surprising that while I was on about £15k and they were on £25-£30k bar having maybe a bigger house they didn't seem to manage it very well. I remember one couple I worked with who between them must have been on over £50k easily with a mortgage judging by where they lived that couldn't have been over £60k and yet they were 'always skint'. Obviously there are always differing circumstances but I just couldn't fathom that out.

Maybe when you are on your own you handle your finances better.

If I earned £30k I would feel rich. But then again if I lived with someone and they earned even the minimum wage I would feel rich then too.

beecher

I'd definitely feel loaded on £2k. I live on £1k every 4 weeks and save the rest. Must admit I'll be using those savings for holidays this year - in the last few years I've used them for boring old home improvements.

I have a friend who was shocked when they finally realised I paid all the bills myself as she's always been part of a couple. It is pretty expensive.

SandC

Beecher, I think I know you - I am QS elsewhere!!

Hi!!!

Oh for £2k a month. That would be fantastic!

beecher

SandC wrote: »

Beecher, I think I know you - I am QS elsewhere!!

Hi!!!

Oh for £2k a month. That would be fantastic!

Hiya! :beer:

lostinrates

SandC wrote: »

Oh for £2k a month. That would be fantastic!

I'm using this quote on this subject because its clear and concise.

Would you still feel £2k was a lot if you lived in an area where rent for a family home were, say 60% of that amount?

Really2

I Take home min £2400 per month, Other half takes home £800 per month (part time)

I would class myself middle. My Wife low-middle if she was full time.

SandC

Again, it's about perception and circumstances. You see I would never require a family home with a rent of £1200. But no, a household income of £2k take home per month would be a bit of a struggle if you had no option but to pay that sort of rent.

beecher

lostinrates wrote: »

I'm using this quote on this subject because its clear and concise.

Would you still feel £2k was a lot if you lived in an area where rent for a family home were, say 60% of that amount?

This is where the difference between single earners and couples comes into play though isn't it - no single person would need a family home. Where I live, it'd cost more than my monthly wage to rent a family home, but I'd still be rich on £2k.

SandC

PasturesNew wrote: »

If you are lucky enough to be in a couple, even if you're both on minimum wage, together it adds up to what I call "doing OK".

It's hard-working singles this Govt have failed. :P

Employers' attitude is "I can pay little because people get benefits topups", but singles don't, the bar is way too low for most on that score.

Exactly, hence my comment on how I would feel rich if I lived with someone who might only earn the min wage. As soon as the bills are divided by two it must ease financial things considerably.