Are you financially comfortable?

seven-day-weekend

Yes, we are pensioners with state and occupational pensions and have more than enough to live on, have a social life and save a regular amount too. We have one nine-year-old car which we will keep until it dies (our last one was 20!) and then pay cash for a new one. I budget for the car expenses in a separate bank account. We also have a motorbike and a static caravan which are also budgeted for separately.


We have no mortgage to pay.

We also have an investment property, paid for from an inheritance, which brings us an income but we do not use this money to live on.

We do also know what it is to be broke/poor.

We are now in a very good position, thank goodness.

lippy1923

Happier_Me wrote: »

I don't think we will feel truly comfortable until we can live on one income though.

Agree with this!

lippy1923

We are a mid 20's married couple with 1 child under 3.


Mortgage/Bills and nursery fees equate to about 45% of our total net income. Both pay into work pensions automatically since we started work so we never miss that money.


We own a mortgaged house, 2 cars and manage at least 1 holiday abroad each year. Only debt we have is just under £6k on 0% credit cards, which thankfully can be paid off tomorrow if necessary.


At the moment we are pretty comfortable but would feel a heck of a lot better if we could live on 1 salary.

74jax

We are comfortable. No real money worries at all. It's taken me a long.... Long...... Time to get to this position and I feel very thankful.

I still shop in primark, am not frivolous, I'm very happy at the moment.

We have two incomes.

Pollycat

We're comfortable too.
I took early retirement 13 years ago, OH 3 years later.

Not yet state pension age but are OK living on our occupational pensions & investments.

We don't have children & have always lived within our means but enjoyed ourselves. Lots of holidays, new car every 3 years (just not a Mercedes or BMW).

Mortgage paid off, only debts on credit cards on 0%.

I still look for food bargains, do menu plans & batch cook.
I buy a lot of clothes from charity shops (through choice) but do like jewellery.

ibizafan_2

We are in our early sixties, both with public sector pensions, and I still do a part time job which nearly doubles my pension. No mortgage, but we live in a small house and don't change our cars very often. We also have a large amount of savings. As long as we can afford to have holidays as often as we want, we are happy. One of my sons lives in Australia, so at least one visit a year will be on my agenda for as long as I can. I am deferring my state pension for a couple of years so that I start it at the same time as OH starts his. I don't consider that we waste money, as we still make as many savings re utilities, insurances and travel as we can. I consider us to be very comfortable, but not wealthy in our eyes. It's all very subjective though.

hcb42

we are late 40s and early 50s and income just over £100K but can reach £120K with bonuses. Our mortgage and household bills is under 20% of our base income and so while we have no problem with day to day affordability and we have savings, I would prefer more savings, would prefer the mortgage paying off, and yes to be able to live a reasonable lifestyle on one salary. (Preferably not mine, although that is currently the higher, but not by much) Priority is to overpay and get the mortgage paid off within next five years - then I will feel a lot better!

emsywoo123

NewShadow wrote: »

the kitchenaid that's currently heavily discounted - .

Focus! What KA? I have been waiting years, this could financially scupper half term, but surely looking at a KA would be enough for the kids anyway.... :rotfl: Please tell me more?

NewShadow

emsywoo123 wrote: »

Focus! What KA? I have been waiting years, this could financially scupper half term, but surely looking at a KA would be enough for the kids anyway.... :rotfl: Please tell me more?

https://forums.moneysavingexpert.com/discussion/5470659

Goldiegirl

Yes, I would have to say we are comfortable.


We owe no money to anybody, we live on our private pensions, with the prospect of state pensions to follow, and have savings.


We worked hard to get to this point in our lives, so we're enjoying it now