Do you think £20,000 is a good enough salary?

moneyistooshorttomention

My take has always been "I want national average salary and half as much again to allow for extra costs of being single". That comes to, I think, £26k as national average and bring it up to, say, £40k because I have the extra costs of being single.

That's my own personal way of looking at it.

Other factors = well the main one would be as to what housing prices are like in your area. If you are somewhere where its possible to get a starter 2 bed terrace house for less than £50,000 and you are perfectly happy with a starter house then that's one thing.

On the other hand, if you were, for instance in my Home Area and wanted a Forever Home level house (ie 3/4 bed detached/with garden/in at least reasonable area) then houses like that are between £300k and £400k and £20,000 wouldn't "touch the sides" to get to a house like that.

So that boils down to main considerations being:
- have you got those higher costs single people have?
- are you in a dear house area and, if so, does it matter (ie because you aren't "settled" yet)?

marleyboy

Well I earn about £22000 and hubby earns £13000, we have a mortgage and a child, and I would say yes it is enough to live happily.

In which case you have already answered your own question.

jackieblack

As almost everyone else has said, it depends on other factors.


Personally, if I earned £20,000 I could help my DD out more and have several holidays a year which would probably make me happier, but as it is I live fairly happily on a little over half of that.

marleyboy

Charlotte17 wrote: »

That depends again on where you live. Flats here one bed to rent are min of £800 a month

Also a family of 6 I would like to think the other adult would be working too if a couple and kids.

Ergo, as is already covered in my original sentence -

It depends on your circumsatnces

PasturesNew

If I got that much I'd be so happy my face would split open from the grin!

Charlotte17

marleyboy wrote: »

It depends on your circumstances. Its a lot for a single person living in a one bed flat. Not so for a family of 6 in a 4 bedroom detached.

Charlotte17 wrote: »

That depends again on where you live. Flats here one bed to rent are min of £800 a month

Also a family of 6 I would like to think the other adult would be working too if a couple and kids.

marleyboy wrote: »

Ergo, as is already covered in my original sentence -

But it is not a lot for a person who is single at all.

Take home on £20k is £1,379.56 a month

Less rent where I live £800 leaves £579

Zones 1 - 4 here in London travel is £177 a month leaving you with £402 to pay for food, council tax (which in my borough is about £90 a month for a single person occupancy) gas, electricity, clothes, savings, etc

Not a lot at all if you ask me.

Paully232000

berbastrike wrote: »

To live happilly?

Charlotte17 wrote: »

But it is not a lot for a person who is single at all.

Take home on £29k is £1,379.56 a month

Less rent where I live £800 leaves £579

Zones 1 - 4 here in London travel is £177 a month leaving you with £402 to pay for food, council tax (which in my borough is about £90 a month for a single person occupancy) gas, electricity, clothes, savings, etc

Not a lot at all if you ask me.

Is it not more in the region of £1800/month. Unless you have student loans, pension, salary sacrifice etc I guess?

Charlotte17

Paully232000 wrote: »

Is it not more in the region of £1800/month. Unless you have student loans, pension, salary sacrifice etc I guess?

opps sorry I meant £20 k not £29k

on my phone and made a mistake there

Paully232000

Charlotte17 wrote: »

opps sorry I meant £20 k not £29k

on my phone and made a mistake there

I thought you were talking about your salary as a comparison.

teffers

marleyboy wrote: »

In which case you have already answered your own question.

Kathryn didn't ask a question as far as I can see.:)

As others have said, it's location / costs / circumstances that make a wage 'liveable' with or not.