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Is £40,000 really a liveable income for families in the UK?
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Butterfly_Brain wrote: »MrRee
Now you know why so many low paid public sector workers are really really peed off at everyone thinking that they earn high wages and low hours ...In the majority that is not the case, and as for gold plated pensions DH will be lucky to get £2,000 pa and he has to pay £100 pm into it, that is a real hardship some months when bills come in, but the only other option is not to have a pension at all, at least we are trying to help towards our retirement. I took out a private pension 25 years ago and it will only be worth £1 a week when I retire.
But your partner is doing better per hour worked in the public sector. People doing the job he would have managed...how were their pensions? How has ther pay risen?0 -
I suspect that anything much lower than 40k gives you access to Working tax credits, child tax credits, childcare tax credits, child benefit, etc etc to bring your income roughly upto 40k.
(I know that you need children to get these benefits, I'm generalising).
My income STILL doesn't NEARLY approach £40K, even with that added!Don't put it DOWN; put it AWAY"I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
Janice 1964-2016
Thank you Honey Bear0 -
Ignoring the usual suspects who are so jealous of me that they attack at each opportunity ......
I'm pretty sure 'most' families have both adults earning.
I'm also convinced that £40k a year is around the minimum for those living in the home counties and London, remember to add benefits to get to this figure.
My personal opinion is that no-one, at all, should be asked to live on a household income of less than £30k in the North and £40k in the South.
By the way, this is a BBC article, I had nothing to do with it.Bringing Happiness where there is Gloom!0 -
My income STILL doesn't NEARLY approach £40K, even with that added!
If it makes a difference, I think the article is talking about pre-tax income - so that would be about £31k for two earners each earning £20k. It is possible for child tax credits and child benefit to top a much lower household income (say £10k each) up to this amount, but you would need at least 3 or 4 kids.0 -
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I'm pretty sure 'most' families have both adults earning.
Actually quite a lot of families don't, especially when the children are little. And of course there are lots of families that only have one adult.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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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.
Only because they are supplemented by other taxpayers. Just looking at this thread, everyone seems to be on benefits. No wonder this country is doomed.0 -
I agree - most on here ARE collecting money from the state ........ that's because in todays world, big TV's, SKY and iPads are seen as absolute essentials.Bringing Happiness where there is Gloom!0
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I agree - most on here ARE collecting money from the state ........ that's because in todays world, big TV's, SKY and iPads are seen as absolute essentials.
Well that and stupidly high house prices.0 -
Graham_Devon wrote: »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!
Wow. I bet that post just about made your head explode Graham!!!:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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