Just out of interest how old are you and how much do you get paid?

Firefox1975

Bigger salaries generally = bigger debts.

It doesn't mean they have more cash in the bank after monthly outgoings.

Worth mentioning!:)

InsideInsurance

Firefox1975 wrote: »

Bigger salaries generally = bigger debts.

It doesn't mean they have more cash in the bank after monthly outgoings.

Most people do live, roughly, to their means and so absolutely those on high salaries are still pretty much running on dry in the few days up to payday etc.

I wouldnt necessarily agree that they have bigger debts

[Deleted User]

InsideInsurance wrote: »

Most people do live, roughly, to their means and so absolutely those on high salaries are still pretty much running on dry in the few days up to payday etc.

I wouldnt necessarily agree that they have bigger debts

Bigger mortgages = bigger debts

A few years ago, i might have been earning £10k than I am now, but I also had 80k less mortgage to pay (and at a much cheaper rate) and a cheaper car..

tiger_eyes

Chickabiddybex wrote: »

Wow, some people earn loads! I'd wet my pants if I had a 40k a year job. Then buy new ones out of gold.
Hell I'd do that on 20k!

I'm in that happy place now! I know that to many people the £18,000 I cleared last year is a modest salary, but since this is my first ever full-time job, I feel as rich as Croesus. I still live as quietly as I did when I was a student (no car, no holidays, no alcohol, no shopping) and I save money every month. Last month I saved £1000 in my ISA. It felt good. :D

Although like trailingspouse, I live with uncertainty. My business could collapse tomorrow and I'd be left with nothing but my savings. That's why I make friends with my ISA.

Chickabiddybex

InsideInsurance wrote: »

Most people do live, roughly, to their means and so absolutely those on high salaries are still pretty much running on dry in the few days up to payday etc.

Yeah but they have more "stuff" AND I WANT STUFF!!!! :P

InsideInsurance

ringo_24601 wrote: »

Bigger mortgages = bigger debts

Not everyone who has a large income owns a property. Most would argue my income is large but I rent as I move around a lot

Daedalus

Higher salaries are often accompanied by higher work related stress and hours. I know a few people who have reached management at £30-40k and burnt out. Dropping to £20k and being much happier and enjoying life more.

[Deleted User]

InsideInsurance wrote: »

Not everyone who has a large income owns a property. Most would argue my income is large but I rent as I move around a lot

I'm quite amazed anyone on your salary doesn't own property. I've got some friends on ~£150k and they both own rather large houses. Admittedly one of them spends more time on work trips than I'd ever want to

Danie1le

I'm 29 years old and I earn just under 13,000 a year working 39 hours a week manufacturing hydraulic hoses which end up on JCB's. Unfortunately though we don't get JCB wages!

I like the job but I think the money is awful for what we do and what I consider to be a semi skilled job, you need proper training to be able to do what I do. Unfortunately there isn't much better around here at the moment.

YoungBusinessman

I would agree more money = more debts. Also more pressure to keep up with the Joneses as your workmates on simular salaries have this that and the next thing.

On £20k i would never have been able to take on my £18k debt plus £100k mortgage, and its more likely i will end up on nearer £20k than my current salary, should i find myself looking for a new job.