Child Benefit for 52K p.a.

paddedjohn

Maybe because they live in Tyne and Wear.

zagfles

sarah_id1 wrote: »

I get child benefit for my 2 kids. Would having a salary of 50K+ stop my child benefit?

You'll lose 20% of it on £52k. You might want to consider pension contributions, see the links above.

mrs_motivated

I agree with the posters who say £50k is relative to circumstances.

I earn £50k and it's pretty good for the midlands, however, I am single and whilst I don't have technically under 18 dependants , I am helping to support my DD through uni.

I bring home £2748 which is probably the same as many couples earn, however my outgoing are not much less ( with the exception of food bills).

Not moaning , I feel relatively lucky. But would happily accept an extra £10k

princessdon

paddedjohn wrote: »

Maybe because they live in Tyne and Wear.

They they should know that like all areas there are some places more expensive than others.

I just read it that we are all in lower cost housing up here, and that isn't the case, beleive it or not there are some more expensive areas. The cost of living is lower than London (I know as I "live in both", but it's not as large as some people make out.

I would struggle on that with my current home (if buying my own home now, as opposed to having the luxury of buying before the boom).

[Deleted User]

somethingcorporate wrote: »

You'd not be able to afford to rent in chelsea on that salary.

then i wouldnt rent in chelsea would i

annie1975_2

Half of £25k would do us.(and before tax).

princessdon

annie1975 wrote: »

Half of £25k would do us.(and before tax).

With no benefits like CTC or CB? Could you honestly live on that

annie1975_2

princessdon wrote: »

With no benefits like CTC or CB? Could you honestly live on that

Yes i could live on that...we live on less than that now.
Even with the tax credits we get it is not as much as we would get on £25k.

PasturesNew

Anybody paying higher rate tax is in the top 10% of earners in the UK I believe.

Higher rate tax starts at about £42,500.

I won't be paying any income tax on earnings this year - but I will pay tax on savings interest.

mrs_motivated

princessdon wrote: »

With no benefits like CTC or CB? Could you honestly live on that

Like I said, its all relative. You could live on that if you had to, just not the same lifestyle you are used to.

My daughter lives on £70 per week at uni (funded by me and her father) , she eats well has decent clothes the odd night out (more in freshers) etc. but she doesn't drive, can't afford a holiday and her clothes are primark not Prada.

If however she graduates, becomes a barrister then I am sure her lifestyle would change accordingly.

One thing I do know whether the income is £300 a month or £5000 it can't buy happiness. which surely is the most important thing.