On the Breadline on £190k a Year

wotsthat

I'd quite like them to be saving just enough to keep off benefits in retirement but otherwise we should cherish these people. As soon as a pound coin hits their bank account they spend it in the economy.

High earning idiots are what the economy needs.

kabayiri

I think technology has a solution, albeit a little late for Adz and Meg here.

How about, an Uber-style app which lets you lease a private school child for a day or two a week? Then you get to rock up and collect little "Crem Bruhlee" in your Chelsea tractor, with bona fide pride

Wanting a child 7 days a week, well, it may be old school but it's a bit selfish no?

ukcarper

If you split earnings £170k and £20k and allow for 6% pension contribution I work out that after mortgage and school fees they will have £4.8k a month left after those payments not bad. Since taking early retirement until recently I've been getting by on 25% of that, no kids but not struggled that much.

kinger101

Sometimes, I think it would be worth a revolution just to see the likes of these shipped off to the gulag.

BarleyGB

It doesn't take long getting carried away spending money you don't need to. Thinking you earn a lot, not changing Utility providers, expensive lunches, high interest car loans etc etc. eary to waste thousands. Just reading about their BTL, doesn't sound like a good investment, it's low yield and bet their making nothing from it, but been lucky with capital appreciation. If the London property prices take a tump r they're fckd.

CLAPTON

kinger101 wrote: »

Sometimes, I think it would be worth a revolution just to see the likes of these shipped off to the gulag.

then maybe we would all be as rich, happy, equal and free as the people of the old soviet union or even Mao's China

Thrugelmir

ukcarper wrote: »

If you split earnings £170k and £20k and allow for 6% pension contribution I work out that after mortgage and school fees they will have £4.8k a month left after those payments not bad. Since taking early retirement until recently I've been getting by on 25% of that, no kids but not struggled that much.

What you've overlooked though is that she is currently on maternity leave. So there's a high probability that their current income level is well down. Seems like yet another case of want it all.

A decent girls boarding school near here. Charges over £12k a term for boarders!

chewmylegoff

HAMISH_MCTAVISH wrote: »

I think I see the problem....



Send the sprogs to a normal primary and go private at secondary, go back to work full time, and/or be prepared to 'sacrifice' a bit of 'lifestyle'.

I mean really.... First World problems, eh?

Not that I have any sympathy with these idiots (why on earth do people subject themselves to ridicule by agreeing to appear in a newspaper articles...?) it may not be as easy as that as (a) the state primary schools around there are terrible unless you can get into the Roman Catholic one and (b) it can be nigh on impossible to get a private secondary place in London if your children haven't been to one of their a private primary school which feeds into a private secondary school.

If I was them I would just sell up and move out to the Surrey commuter belt where they could buy a bigger house near some decent state schools.

Generali

Graham_Devon wrote: »

Theres another comment on the telegraph from someone who earns 180k, who also see's himself as rather hard done by.

However, listing all their outgoings, they spend £1,500 PER MONTH on family expenses, which they state is "mostly food". How you spend that much on food per month is beyond me.

He states the last £1,000 per month goes on "activities" and dining out, and he has nothing left from his 180k salary each month.

It's a different world.

£1,500 a month on food is about £350 a week or £50/day. If you have brekkie and lunch from Eat or Pret each day, as lots of City workers do, then it soon goes.

zagubov

Generali wrote: »

http://www.telegraph.co.uk/finance/personalfinance/pensions/12000288/We-earn-190k-a-year.-Do-we-need-to-sell-our-flat-to-afford-private-school-fees.html



An alternative take on the same problem:

http://www.thedailymash.co.uk/news/business/we-earn-190k-a-year-should-we-sell-a-child-so-we-can-buy-another-flat-20151120104033

I particularly enjoyed the link in the second article to the claim that the Daily Mail is identical in the universe where the Nazis won world war two.