Do you earn enough for a minimum acceptable standard of living?

PasturesNew

neverdespairgirl wrote: »

More than the middle bit, but Abbey Wood's the !!!! end of nowhere. More or less Thamesmead.

But it's London.

You'd have to look hard to find somewhere that cheap where I live.

Edit: Just looked it up. Cheapest 3-bed £125k. Cheapest 3-bed within 20 road miles £95k.

michaels

I wasn't suggesting going to London to shop - just to work.

beecher2 wrote: »

Wouldn't the figures be based on rent, taking housing benefit into consideration? People without cars probably spend less on public transport than you imagine - I tend to shop where it is easy to get to, rather than where I could get to if I had a car.

michaels

Cheapest rent round here would be more than twice the figure quoted in the calculator for a 3 bed, interest on a mortgage would (currently) be a bit less.

beecher2 wrote: »

I'm not sure the minimum acceptable standard of living should look at mortgages - buying a house isn't essential for life.

beecher2

michaels wrote: »

I wasn't suggesting going to London to shop - just to work.

Commuting is expensive, and few people on minimum wage work far away from where they live. I do think people are using their present living style which is based on a certain income and imagining how they would cope on a minimum wage. They probably wouldn't but that isn't really the point in the figure.s

flea72

beecher2 wrote: »

To be able to rent a similar property, yes but could you live in a cheaper one and still have a minimum acceptable standard of living? This is why these things are so tricky to judge and to put a figure on.

dont think we could go any lower than 3 bed semi on a council estate. we are the lowest of the low already lol

yes, we could prob rent a one bed flat for less than our mortgage costs, but not sure as a family of 5 we would all fit in, and stay sane

F

neverdespairgirl

PasturesNew wrote: »

But it's London.

You really, really wouldn't want to live there.

inspector_monkfish

phew... just about got enough to keep the 2 Aston's serviced, and pay the butler and maids.....

gonna have to flog the yacht though :cool:

PasturesNew

I suspect that calculator assumes stuff like:
- 1 hobby, £25/week
- eat out once a week £20/week
- 3 holibobs: 2 weekend breaks and a summer holiday, £20/week

All stuff that only rich people do.

neverdespairgirl

A budget of over a grand a year for holidays, and nearly 3 grand for getting trolleyed isn't my idea of essentials. Nice, for sure.

chewmylegoff

PasturesNew wrote: »

But it's London.

You'd have to look hard to find somewhere that cheap where I live.

Edit: Just looked it up. Cheapest 3-bed £125k. Cheapest 3-bed within 20 road miles £95k.

it's basically the worst part of london. terrible area, high unemployment, no decent transport links, basically a big squalid ghetto. no-one wants to live there. it's not at all surprising that it's possible to get a property there for much less than the average london price.