Do Britons feel rich or poor?

Treadmill

Compared to a lot of people I earn good money, I took home £3997 this month, I now have £15 to last until payday in 11 days. I have debt that I can't easily pay off. That's why I am here reading this. If you don't manage your money correctly like me you will feel poor no matter what you earn, I have friends who earn less than half what I do who probably have a better quality of life because their money's not eaten up by debt repayments and a big mortgage.

Getting a pay rise or better paid job does not come with counselling on money matters or imbue you with additional skills in money management sadly.

quantic

When you realise that spending your wage on rubbish doesn't actually make you happy, its pretty straight forward to feel well off I find. We earn less than other people we know, by quite a way in some cases, yet we have have no debt, we eat well and are starting to build up some savings.

I tend to find that as people begin to earn more (not always, but people I know) they get progressively worse at spending it, or knowing how to manage it.

I find it ironic when I sit listening to a friend who earns 40% more than me and has an interest only mortgage whine about being skint.

YoungBusinessman

If there was a bit more taught at school about dealing with money, half of us wouldnt even be on this site.

C_Mababejive

Great read...

What i have been thinking about a lot recently is quality of life and how to strike the right balance whilst being part of the Capitalist machine.

The other day someone posted a link on the site from the institute for fiscal studies website entitled "where do you fit in?". To my amazement and standing on my own, i was in the 9th decile and as a houshold, in the 10th.

It made me realise how lucky i must be and how little most people get by with.

And yet being in the 9th/10th decile,i dont feel rich and i dont feel any happier for it.

I meet people who have almost nothing and their lives are much richer and much more fulfilling than mine. They have more friends and are happier.

Happiness and fulfillment are states of mind and not necessarily to do with pictures of HM Queen in the bank.

I am a great believer in communal living and we should have more of it in the UK. Mutual support and sharing are all important.

Mort

I think it's about living within your means, these days I know I am not rich but I don't feel poor.

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Mr Micawber, David Copperfield by Charles Diskens

thegirlintheattic

I'm sorry but some of that article just made me mad. You can't complain you are poor if you choose not to work or work part time. If you have more in savings than the average person earns a year you can't complain you are poor. You can't complain you are poor if you earn more than £100K a year. You may have less money because of the way you choose to spend it but you can't complain, and in my eyes different to being poor.

I consider myself middle of the road. Our combined income is over £50K a year, and within the next year we will be able to afford a house (with a high LTV). However I can afford a new car, a nice rented house and sky tv. I don't live hand to mouth, and compared to where I grew up, have done well. I realisle that I'm better off than many people who struggle to make ends meet so don't complain when I have little left at the end of the month.

YoungBusinessman

Everyone who is surviving and getting by is infact not poor. Yet most people seem to define rich as just a bigger salary than they are on now.

I would define it in a much larger way than just money coming in/money in bank form.