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Living on $12,000 a year

edited 30 November -1 at 12:00AM in Old Style MoneySaving
450 replies 77.7K views
ceridwenceridwen PPR
11.5K posts
edited 30 November -1 at 12:00AM in Old Style MoneySaving
Google this - living on $12,000 a year - and see what comes up. A whole new "field to mine" methinks. I am going to start with

$12,000 translates into £6,000 a year I believe.



  • malvena_2malvena_2 Forumite
    213 posts
    Thanks ceridwen.I live a little like this anyway but it's good to get some different ideas. If only the debts were gone!!!
    DFW Nerd no 546
    Official 10k New Years Resolution
    £10k by 31/12/2008
    Earn £10 a day in Jan challenge: Target £310 - So far £184.98
    January Shopping Challenge : Target £50 - Spent £16.05
  • There are some really useful tips there, thanks.

    Although $12,000 translates to £6,000 by current currency conversion rates, in practical terms it would be much more difficult here considering our much higher living costs vs. America.


    House prices in UK:
    Average Cost: £210,578 (approx. $420,000)
    Detached: £323,332
    Semi-detached: £189,617
    Terraced: £168,134
    Flat: £196,505

    House prices in US:
    Single Family Home [assume this means Detached] Median: $213,000
    Apartment Condo-Coops Median: $228,000

    In other words, our house prices are double what they are in the US, on average.

    To put it another way, a 90% repayment mortgage for a house costing the UK average (£210,578), spread out over 25 years is a whopping £1,180 per month, or £14,160 per year!

    Even if you live in a less expensive part of the country and can get a property for £100,000, that's still a monthly payment of £560/month (based on putting 10% down, repayment mortgage over 25 years).

    In fact, I don't really see how it would be possible to live on £6,000 unless you either were renting, or your house was already paid for, or you had a very small mortage, or you were "pooling" your £6,000 with someone else (spouse, partner etc.) so that one of you was paying a mortgage and the other was handling other expenses.

    I'll definitely be checking out those sites, though. Keep 'em coming!

    I want to move to theory. Everything works in theory.
  • ArilAril Forumite
    1.9K posts
    Is anyone aware of any similar UK sites [apart from this] or thrifty blogs from this side of the pond please? I always enjoy the American ones but would think that perhaps I could glean more ones I could relate to more. I've been following Lauren's 365 frugal challenge over on the DFW board with interest.
    Aiming for a life of elegant frugality wearing a new-to-me silk shirt rather than one of hair!
  • Plum_PiePlum_Pie Forumite
    1.3K posts
    I thought the cost of living in the US vs. the UK was roughly dollars for pounds ie. $12k = £12k...?
  • freyasmumfreyasmum Forumite
    20.5K posts
    Part of the Furniture 10,000 Posts Photogenic I've been Money Tipped!
    Plum_Pie wrote: »
    I thought the cost of living in the US vs. the UK was roughly dollars for pounds ie. $12k = £12k...?

    Hiya, at the current exchange rate it is...

    12,000.00 USD


    5,904.37 GBP

    So actually less than £6000, wow. My aunt used to work as a dinner lady and she had to feed herself and her son on a pitance. She probably wouldn't even earn that amount and she managed. Of course the house prices weren't as bad as they now are. It's all down to creativity with money, in my opinion.

  • HadleyHadley Forumite
    237 posts
    I lived in the USA for four years and somethings are much cheaper than over here.But other things are very expensive things like medical insurance costs a fotune.
    Food ,clothes and petrol are alot cheaper than here.Also renting is alot more coman other there.
  • glendamglendam Forumite
    348 posts
    I think plum pie meant in relative terms. So what americans get for $12.000 we get for £12.000.


    £1 a week savings challenge 2014


  • freyasmumfreyasmum Forumite
    20.5K posts
    Part of the Furniture 10,000 Posts Photogenic I've been Money Tipped!
    Ahh, I see... well that makes sense :)

    Sorry for the mix-up :A

  • ceridwenceridwen PPR
    11.5K posts
    hi Aril

    Have googled "frugal living U.K." to see what comes up - vast majority is more US stuff and a few entries look as if they're on a totally different subject (as in "not before the 9pm watershed" !! - do I need to expand on...?)

    Did notice two possibles:

    Know there is a couple of UK enviroblogs I came across - will rack brains as to what they were - vague idea one was by elderwoman (but cant remember if shes UK or US).
  • luxor4tluxor4t Forumite
    11.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I have this site bookmarked: I don't know if it has anything 'new' for a real OSer!

    I have no idea why everything went green!
    I can cook and sew, make flowers grow.
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