MoneySaving Poll: How much of your income do you spend on your rent/mortgage?

edited 24 June 2014 at 3:13PM in Money Saving Polls
13 replies 3.1K views
Former_MSE_LianeFormer_MSE_Liane Former MSE
27 Posts
edited 24 June 2014 at 3:13PM in Money Saving Polls
Poll started 24 June 2014

How much of your income do you spend on your rent/mortgage?

Home is where the heart is – and it’s also at the heart of many of our bills. How big a call on your income are your housing costs? (If you’re a couple/family please answer as a group.)

Please select the closest answer to how much you spend as a proportion of your HOUSEHOLD TAKE-HOME SALARY/INCOME (after tax, but include any benefits received as income).

Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click this.

If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


[threadbanner]box[/threadbanner]
«1

Replies

  • At the time of my vote, how on earth can 60 people claim that their mortgage/rent is more then 100% of their household income??? Am i misunderstanding the question?

    If your mortgage/rent is more than your income, how do you buy food, pay for gas & electric, all the basic essentials??
  • yhwmanyhwman Forumite
    4 Posts
    Gross or net income? Makes a big difference for some.
  • yhwmanyhwman Forumite
    4 Posts
    How do people pay more than 100%? Debt I would guess :(
  • PasturesNewPasturesNew Forumite
    70.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    At the time of my vote, how on earth can 60 people claim that their mortgage/rent is more then 100% of their household income??? Am i misunderstanding the question?

    If your mortgage/rent is more than your income, how do you buy food, pay for gas & electric, all the basic essentials??

    I just selected that.... I've been spending/living off my savings for months now.
    yhwman wrote: »
    How do people pay more than 100%? Debt I would guess :(

    ... and savings!

    All gone now. Just bought a house to stop this downward spiral of spending it.
  • WitlessWitless Forumite
    728 Posts
    ✭✭
    yhwman wrote: »
    How do people pay more than 100%? Debt I would guess :(
    If it's rent - housing benefit?
  • bananabanana Forumite
    77 Posts
    Can someone explain how a person stating [I/we privately rent our home] or [I/we rent our home via social housing (council or housing association)] can live rent free .

    And how can I do this please.
    "I have enough money to last me the rest of my life, unless I buy something."
  • tiger_eyestiger_eyes Forumite
    997 Posts
    Debt-free and Proud!
    I did some number-crunching and rent is about 29% of post-tax income. Other bills are a further 25% (ish).
  • kkgree1kkgree1 Forumite
    328 Posts
    Part of the Furniture 100 Posts Combo Breaker
    ✭✭
    Without mortgage overpayments, it is 2% of our net take home pay. With overpayments it is 36% - hoping to be mortgage free by end of 2015.
    Mortgage free wannabe
    Mortgage (November 2010) £135,850
    Mortgage (November 2020) £4,784
  • GolfFoxtrotGolfFoxtrot Forumite
    182 Posts
    Our mortgage is approx 26% of our pay after deductions (tax,NI and student loan).
    Our mortgage which we only took out earlier this year was just over 3x joint income (before deductions). We feel this is very affordable and plan to start overpaying our mortgage early next year once we have done a few jobs to the house. At that point we'll spend around 40% on our mortgage.
  • sligslig Forumite
    400 Posts
    Part of the Furniture Combo Breaker Debt-free and Proud!
    ✭✭
    banana wrote: »
    Can someone explain how a person stating [I/we privately rent our home] or [I/we rent our home via social housing (council or housing association)] can live rent free .

    And how can I do this please.


    I wonder if some of that group might be people who live with parents or other relatives? Or sleeping on a friend's sofa, etc.
    Debt at LBM (17/10/08) £5727.61 Debt free date 31/08/09
This discussion has been closed.
Latest MSE News and Guides

Energy price cap could be extended beyond 2023

New plans have just been announced by the Government

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals