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Is £40,000 really a liveable income for families in the UK?
Comments
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Peelerfart wrote: »Isn't £40K pa the average size of a public sector pension or did I get my threads mixed up ?
I think it's about £9k or something like that.... no, now I've looked it up, I see it's less than that. See this article.The average public sector pension is £7,000 compared with the average personal pension of £5,000.greggymagic wrote: »If you don't mind me asking - what are the child benefits and WTC's worth a month?
Cheers
CB is £134.80 every 4 weeks for 2 kids - that's £1,752.40pa.
CTC/WTC varies enormously depending on number of kids, childcare costs, income, and whether you work more or less than 16 hours/week or more than 30 hours/week.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
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The average household debt (including mortgages) is £55,795 according to Credit Action, a national financial education charity.
I just wish I had a mortgage this small, I don't know anyone with a mortgage of less than £100,000. £159,000 for me and overpaying every month whilst the bank of england keeps the rates low. As for the poster with the £700k house and £250k mortgage, in 2001 with joint wages £250 mortgage is very do-able, now you would get about 90k, you obviously bought well and the house price rose astronomically, wish mine had risen that much!!Food and Smellies Shop target £50 pw - managed average of £49 per week in 2013 down to £38.90 per week in 20160 -
2001, no inheritance
You seriously got a mortgage more then 10x income? On interest only!? I'm assuming you have had a pay rise in 10 years, therefore the income wasn't 25k then?
Surely that has to be a self cert jobby!?
How did you cope with 5% rates!? I honestly can't understand. Sorry, not having a pop, just bewildered!!
I know how much insuring and maintaining one car is, let alone 2 on that sort of income with a 250k mortgage to boot!0 -
greggymagic wrote: »If you don't mind me asking - what are the child benefits and WTC's worth a month?
Cheers
I think it's around £450 combined.0 -
nic_santorini wrote: »The average household debt (including mortgages) is £55,795 according to Credit Action, a national financial education charity.
I just wish I had a mortgage this small, I don't know anyone with a mortgage of less than £100,000. £159,000 for me and overpaying every month whilst the bank of england keeps the rates low. As for the poster with the £700k house and £250k mortgage, in 2001 with joint wages £250 mortgage is very do-able, now you would get about 90k, you obviously bought well and the house price rose astronomically, wish mine had risen that much!!
As far as I can see from a rather cursory reading of the article, that's debt averaged over all households in the country, including loads that don't have mortgages at all - because they own their houses outright (mostly older people) or don't own them at all but rent.Average outstanding mortgage for the 11.3m households who currently have mortgages now stands at ~ £109,643.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
We have to live on £14,500 pa - that is public sector wages for you.:mad:
We do have a mortgage only £19,000 to go and we are mortgage free.
We bought in the 80's when I was on a good wage.:pBlessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
If you consider the "average salary" in the uk, thats clearly double income.0
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Butterfly_Brain wrote: »We have to live on £14,500 pa - that is public sector wages for you
May I ask what your jobs are? Is there a private sector equivalent?0 -
Interesting thread as it's turned out ..... it seems that some can live quite well on £25k a year - I take my hat off to them, really I do - MSE finest examples.Bringing Happiness where there is Gloom!0
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My OH is a site agent at a lower school on £10,500 pa plus he does a cleaning job for £4,000 pa. He took this job after being made redundant after working as an area manager for a cleaning company. He did so many hours his wages didn't even meet the minimum wage, so better living with less money than not living at allBlessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0
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