How much do you need to be happy

tiptoes

read somewhere that its those who earn the least who are happy, as though who in high income jobs always chasing the almight buck

gundo

I was earning > 30k in my last two jobs and I was unhappy a lot of the time (mostly down to work). I then got made redundant and I'm now on a temporary contract doing much lower level work for less money. I'm definitely happier but the huge mortgage (I was a first time buyer when I bought last year - it's only a 3 bed semi) I have (thanks to decent salary) and council tax etc. make me very nervous. What will happen when the 2 year fixed runs out, when I need to remortgage? I won't have the necessary salary (3.75X multiplier) to get a mortgage.

Also being on a temp contract with no sick leave, no pension etc. is making me nervous too.

I want to win enough on the lottery so that if I banked the winnings I could live off the interest. £30k a year would be fine then.

exil

What I want is SECURITY. If someone guaranteed me 20k a year, for life (inflation-proofed of course), I'd bite their hands off.

40k with no security - no thanks. You're tempted to spend up to your income so if it all goes pear-shaped you end up with a pile of debts. You could of course try and live as if you only earned 20k but then you'd probably die or get too old or ill before you
are able to enjoy spending the money.

It has to be said that low income doesn't always mean low stress, as anyone who looks round the debt boards can testify.

110frankie

Family and health - it isn't so long ago that I had neither - is the most important as so many of you have said.
Financially we can pay our mortgage and my cc , so when they are paid up, not long now, that will be extra money to save. But, then, I'm only a few years off retirement and that worries me.
But, again like so many have said, there's not an exact figure, it depends on just how much you need - not want.

LittleJo

Hi,
I think it is not the money but the person. Some people can manage , and be happy on very little. Others can never have enough.
Living within your means is a good start, that is if you can. Not alwasy possible, i know.
Jo

helen_vasey

it depends on your point of view, i used to be a worrier, planning and saving for the future, never going on holiday etc. then 8 years ago my mil died, all their lives she and my fil had scrimped and saved, planning to do everything once they retired, she died at 57, never having been to australia to visit her sister , from that time on, we have done everything we wanted to do, while still young and healthy, so what if we have debts, my passion is travel and i want to see as many places as i can before i die. we manage on £30k but £5~£10k more would be loveley. we could plough all our money into paying off the mortgage, but what if we dont live to see the benefit?

black-saturn

I'm only on 9K and I'm really happy with life. Happiness has got nothing to do with money.

Almost_Redundant

I earn 30k per year (reduced to nearer 20k after being robbed through various taxes), live in rented accomodation have no debts own both cars outright and have a substantial amount invested in various forms. However to be honest i'm bored. Can't stand the job as it causes me stress. At the moment i've nothing really to aim for except maybe buying a house. Teenager soon to leave home therefore no more responsibilities (apart from the cat). So the natural thing to do is try to better your standard of living - human nature? Yes you can live on a seemingly small amount comfortably but at the end of the day it boils down to your individual ideals.
Very interesting to read the posts on this thread, keep them coming.