How much disposable income would be considered well off for an 18 y/o in the UK?

philip1427

Here's some some background info. I have managed to secure myself a passive income of around £11000 plus I work weekends in a Boots as a pharmacy dispenser where I make around £6000 a year not including over time. I am about to study medicine and my goal is to go through uni without gathering debt. Would my circumstances be considered well off? Obviously not in comparison to a millionaire but for a normal joe. I do not live an excessive lifestyle purely because I don't have much time to spend money etc however I do like to buy good quality items or when I go out I like to have a really nice meal and visit nice bars etc when my girlfriend and I go out I would say we'd spend ~100£. Do I live a normal teenage lifestyle?

SailorSam

Stop buying 'designer' gear; when you go out to eat only go to the chippy and get your girlfriend to pay .......... and you'll be able to save a lot more.

Pincher

https://www.cliffsnotes.com/literature/p/pride-and-prejudice/critical-essays/money-in-pride-and-prejudice

Austen describes people's financial situations throughout Pride and Prejudice in terms of actual monetary amounts. Darcy is not simply rich, he has 10,000 pounds a year.

Credit-Crunched

philip1427 wrote: »

Here's some some background info. I have managed to secure myself a passive income of around £11000 plus I work weekends in a Boots as a pharmacy dispenser where I make around £6000 a year not including over time. I am about to study medicine and my goal is to go through uni without gathering debt. Would my circumstances be considered well off? Obviously not in comparison to a millionaire but for a normal joe. I do not live an excessive lifestyle purely because I don't have much time to spend money etc however I do like to buy good quality items or when I go out I like to have a really nice meal and visit nice bars etc when my girlfriend and I go out I would say we'd spend ~100£. Do I live a normal teenage lifestyle?

Can you elaborate on what a "passive" of £11k is? Is it income from investments?

edinburgher

Why do you feel the need to be validated by other people (or to brag about your wealth vs. your peers)? Be prepared to meet a lot of people who won't want to talk to you if you take that tact

philip1427

SailorSam wrote: »

Stop buying 'designer' gear; when you go out to eat only go to the chippy and get your girlfriend to pay .......... and you'll be able to save a lot more.

I save about 10k a year already and I feel I have the money to spend on some luxuries but I am well aware it's very easy to go over board. In reference to my girlfriend we take it in turns to pay for nights out so its works out 50/50 split in expenses

philip1427

edinburgher wrote: »

Why do you feel the need to be validated by other people (or to brag about your wealth vs. your peers)? Be prepared to meet a lot of people who won't want to talk to you if you take that tact

I don't. I'm starting a new chapter in my life by going to uni. I wanted to know if this is normal. I know money is a sensitive topic that's why I chose to ask for advice anonymously on MSE forum

philip1427

Credit-Crunched wrote: »

Can you elaborate on what a "passive" of £11k is? Is it income from investments?

My initial source of income was I made all my GCSE and a level notes in to handy study guides. Then proceeded to sell them as e books on kindle. To my surprise they were a hit. I ended up with some capital to invest which I did. These two things combined are my main source of passive income.

SailorSam

philip1427 wrote: »

I know money is a sensitive topic that's why I chose to ask for advice anonymously on MSE forum

It shouldn't be a sensetive subject. If you've a good relationship with your girlfriend, she's the best to ask an opinion. She knows you better than us.

philip1427

Credit-Crunched wrote: »

Can you elaborate on what a "passive" of £11k is? Is it income from investments?

Credit-Crunched passive income is when you make an income which is not linked to the time you spend on it. E.g working at Boots is active income because I am directly rewarded for the amount of hours I work. I hope this helps 😎

SailorSam

Phillip, i think you're asking in the the wrong place. There's a good divererse number of members here on Mse, but probably the majority are not teenagers. Perhaps you'd get a better idea of what is the norm if you were to join a forum aimed at the younger generation and ask your peers what they do.