'I make £120,000 but I can’t recall the last time we went out for dinner’

mayonnaise

Sometimes this board makes me wonder.

The man makes the education of both his kids his main priority, spends bucket loads on school fees while cutting down on holidays, cars and other niceties and what do we get?

He's called a 'joker' and other 'my heart bleeds' snides.

He's having to commute to work while he could just sign on and stay in bed. Haha what a joker.
He's been paying taxes for most of his life while he could just be a career sponger. Haha what a joker.
He's trying to send his kids to the best schools, while he could just let them rave around on the nearest sink estate. Much cheaper. Haha what a joker.
He's bought his own home while he could just go on the waiting list for a council house. Haha what a joker.

observingthedebate

the_flying_pig wrote: »

the school fees are by a distance his biggest outgoing [and, i might add, a pure 24-carat luxury item that, living in farnham is laughably unecessary] but with kids aged 16 & 17 he's got another three years' worth max to pay. after that he'll be fine.

much more importantly, only the torygraph could describe a £120k p.a. city worker [comfortably in the top 1% of earners] as part of a 'squeezed middle':rotfl:

I spotted the same reference to squeezed middle. Quite laughable!

Agreed on the school fees being pure luxury, however I also see why he would do it. We have young kids and we are trying to get them in private education also. I do understand a father making sacrifices for the long term well being of his children. That I respect.

Generali

purch wrote: »

It's not the size of the Mortgage, or his age that jumps out.

It's the fact he say's he has to which indicates that he has had the mortgage for some time but has done nothing to repay the capital.

The bloke only earns £120K yet seems to think he can live like someone earning twice as much.

You can't pay £45K school fees, have a £350K mortgage and have holidays, new cars and the rest.

Do the Math :eek:

He's a reasonably senior compliance officer so he's likely to be on about a 50% bonus on top.

School fees are the killer. You can't economise on them once you start to pay them.

[Deleted User]

mayonnaise wrote: »

Sometimes this board makes me wonder.

The man makes the education of both his kids his main priority, spends bucket loads on school fees while cutting down on holidays, cars and other niceties and what do we get?

He's called a 'joker' and other 'my heart bleeds' snides.

He's having to commute to work while he could just sign on and stay in bed. Haha what a joker.
He's been paying taxes for most of his life while he could just be a career sponger. Haha what a joker.
He's trying to send his kids to the best schools, while he could just let them rave around on the nearest sink estate. Much cheaper. Haha what a joker.
He's bought his own home while he could just go on the waiting list for a council house. Haha what a joker.

Because he spends more on school fees than most people earn, then has the indignity to complain about being squeezed?

All he needs is his wife to get a job, and they'd be sorted.

ukcarper

He'll be what 56 when kid finish school he won't be able to retire till he's 66 10 years to pay of £350k, £35k a year less really as he will reduce interest payments. So when kids leave school he will be £10k a year better off that should buy a few meals out.

michaels

Even after the school fees he has more to live on than the median.

He probably has about 700k equity in the house so downsizing could probably solve the mortgage problem.

And his kids might need to vet a loan for their uni fees like everyone else? My heart bleeds too.

wotsthat

One of the biggest hits will have been child benefit - he's lost £1800.

I wonder if his wife works because if she managed to earn just £10k it would make the difference between life being a slog and quite comfortable. It would also enable them to accelerate their pension planning and mortgage repayments once the kids have left school.

Can't be many families looking forward to sending their kids of to university so they can save money!

the_flying_pig

ringo_24601 wrote: »

Because he spends more on school fees than most people earn, then has the indignity to complain about being squeezed?...

exactly.

no one's saying that he's a bad [or whatever] man, just that the article is absurd.

'exceptionally high earner chooses, despite living in an affluent area with decent state secondary schools, to spend megabucks on an exceptonally expenive school & has to cut his cloth accordingly.'

who gives a rat's !!!?

Cornucopia

All it shows is that lack of financial acumen can affect anyone across the whole of society.

One thought: it's easy not to have savings when your income each month is in the same ballpark as other people's savings.

[Deleted User]

the_flying_pig wrote: »

exactly.

no one's saying that he's a bad [or whatever] man, just that the article is absurd.

'exceptionally high earner chooses, despite living in an affluent area with decent state secondary schools, to spend megabucks on an exceptonally expenive school & has to cut his cloth accordingly.'

who gives a rat's !!!?

Yep! I have two relatives who are my age (mid 30s) and earning more than that guy. If either of them EVER complains to me about money, i'm going to rip into them so badly. Some people don't really understand how good they've got it because they've grown so accustomed to it.

"Man with lots of money decides to spend it all, then complain he has nothing left" - so lets all cry for him!