Is £40,000 really a liveable income for families in the UK?

LydiaJ

lostinrates wrote: »

we do things much more simply: he earns I spend.:)

seriously, he handles the on line accounts to a plan I first draught. That way we have both had a look at the situation and can check there is no discrepancy...without it being so formal (and imagine the havoc I could cause when my typos are at their finest!). This is done according to perametres we both just know exist and we work to budgets that don't change much. When we have bigger one off spends we both know about it. If we want to have big one off spends we consult with each other. I work better with the budget for spends here in cash, because I find it easier to be tight with cash.

All these ways of doing things have one thing in common - a willingness on both sides to engage in some kind of shared decision making, and to abide by agreements that have been made. That's the thing we didn't have. It was only much later that I realised that the reason he kept "forgetting" what I thought we'd agreed was that he resented my having any say in limiting our/his spending, even when I was the one earning it all, and certainly when he was the breadwinner and I was a SAHM.

I enjoy my financial independence now, and if I ever get into another relationship, I'll be looking for a bloke who doesn't regard shared decision making about joint things as an intolerable restriction of his autonomy.

RenovationMan

Malcolm. wrote: »

I have a question..... If I were to extend a property how would I best go about finding individual labourers (a bricky e.t.c.) Or would I be better getting an existing team (I suspect this method is more expensive but easier). I'm conscious that any builders would need work around one-anothers progress. Any thoughts/opinions jimmy and/or renoman?

I've tried both methods as I have lots of friends who work in the building trade. I tend to employ individuals for smaller projects or for projects that can easily be split up and don't have a deadline. For larger jobs I will always employ a main contractor as it's quicker and can actually work out cheaper just as long as you specify every single thing. The expense comes in when you start to modify the design because while the builder might skin himself to get the job in the first pleace, he will then try to claw some money back with any additions.

Good luck with the extension. They are enjoyable right up until they get a grinder and cut their way into the house, making it unbelievably dusty and effectively unliveable.

silvercar

I suspect the answer to whether you can really live on 40k depends on how you got there. If you were on a higher income it may be harder to cut back than if you have never had more.

Not because it is difficult to "do without" but because you have long term commitments that are hard to give up.

michaels

I guess so - for me it is the other way around, having had a higher income I have a savings cushion and good credit rating allowing me to manage my expenditure now without ending up wasting money on overdrafts, expensive borrowing etc.

silvercar wrote: »

I suspect the answer to whether you can really live on 40k depends on how you got there. If you were on a higher income it may be harder to cut back than if you have never had more.

Not because it is difficult to "do without" but because you have long term commitments that are hard to give up.

glasgowdan

40k is easily livable. People who don't think so have either got more than this, or are overspending.

Nothing more complicated in this basic question than that.

silvercar

glasgowdan wrote: »

40k is easily livable. People who don't think so have either got more than this, or are overspending.

Nothing more complicated in this basic question than that.

Not necessarily.

If you had more and say bought a big house and paid down your mortgage, you are now left with relatively high council tax and utility bills.

If you have high commuting costs there is little, other than the expense of moving, that you can do bout that. More difficult if you have children settled in local schools.

Cleaver

Graham_Devon wrote: »

Jimmy was also replying to Rennoman, hence quoting him. It was cleaver jumping in and confusing things, and Jimmy never even mentioned cleavers domestic finances.

I do apologise, I must have missed the memo about this board turning in to a pancea of mature debate and cordial discussion. I'll make sure I look out for an invitation for my opinion before confusing matters by jumping in to discussions of which don't concern me. Can I please offer my sincere apologies to all other users for my extreme social faux pas. Oh, hang on, I was simply replying to a post about me by Lydia about my domestic finances wasn't I? Disregard all of the above imediately.

I was going to post something now about how I find Jimmy's views slightly skewed and that the comments about housingkeeping and people being 'tw*tted' when trying to get their wages isn't really representative of everyday life for most people, but I really can't be bothered. I now agree, Jimmy is a salt of the earth chap and all the people he knows are pretty much a perfect representation of the average joe in the UK in terms of financial nous, pension status, employability and qualifications.

I'll finish by saying that being accused of confusing discussion, by Graham of all people, represents an all time low for me on these boards.

Jimmy_31

Malcolm. wrote: »

RenovationMan and Jimmy have been nothing but open and honest. Cleaver, to me, has been making a few snide remarks. If posters receive aggravation everytime they post personal information it'll discourage them from doing it again.

Anyway, while posts are on the subject of building, I have a question..... If I were to extend a property how would I best go about finding individual labourers (a bricky e.t.c.) Or would I be better getting an existing team (I suspect this method is more expensive but easier). I'm conscious that any builders would need work around one-anothers progress. Any thoughts/opinions jimmy and/or renoman?

Just asking about is usually the best way to find decent tradesmen in your area, some of them dont advertise except for van signs.

Getting a building firm in to do it would be a lot less hassle for you, but you could save money by managing it yourself (as long as it all goes to plan;)).

Oh and dont change anything once you start building, it ends up costing you more and also winds everybody up:).

Jimmy_31

Cleaver wrote: »

I do apologise, I must have missed the memo about this board turning in to a pancea of mature debate and cordial discussion. I'll make sure I look out for an invitation for my opinion before confusing matters by jumping in to discussions of which don't concern me. Can I please offer my sincere apologies to all other users for my extreme social faux pas. Oh, hang on, I was simply replying to a post about me by Lydia about my domestic finances wasn't I? Disregard all of the above imediately.

I was going to post something now about how I find Jimmy's views slightly skewed and that the comments about housingkeeping and people being 'tw*tted' when trying to get their wages isn't really representative of everyday life for most people, but I really can't be bothered. I now agree, Jimmy is a salt of the earth chap and all the people he knows are pretty much a perfect representation of the average joe in the UK in terms of financial nous, pension status, employability and qualifications.

I'll finish by saying that being accused of confusing discussion, by Graham of all people, represents an all time low for me on these boards.

Salt of the earth.

Im on a roll me:T

lostinrates

Jimmy_31 wrote: »

Just asking about is usually the best way to find decent tradesmen in your area.

some thing we have done this year is just this and also gone to see local homes (and less local homes) and loked at examples of work. I now feel just askig around ISN'T hie best way, as we received lots of glowing recommendatins for work we wouldn't have been happy ith. Some was goo but not great, some was just OK, but people ere very delighted with it (which is great for them, but would have left us disappointed).