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MSE Poll: What proportion of your income is spent on your mortgage/rent?

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MSE Poll: What proportion of your income is spent on your mortgage/rent?

edited 30 November -1 at 1:00AM in Money Saving Polls
5 replies 1.3K views
MSE_NaomiMSE_Naomi MSE Staff
474 posts
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MSE Staff
edited 30 November -1 at 1:00AM in Money Saving Polls
Poll started 28 January 2020
Take what you pay on your mortgage or rent (include any service charges or ground rent but NOT council tax, insurance or other bills) and work out roughly what percentage of your monthly take-home pay/income (including benefits) it is.

If you have joint finances which are intertwined then give your costs as a proportion of household income. Did you vote? Are you surprised at the results so far? Have your say below.

If you haven't already, join the forum to reply.

Thanks! :)


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Replies

  • KaysafusKaysafus Forumite
    8 posts
    I worked this out and was actually pleasantly surprised - I thought it would be a bigger percentage given how tight things can feel sometimes!

    As a parent, I'd love to know what percentage of people's incomes goes on nursery fees in a similar poll. I appreciate this would be a smaller group of MSE forumites, so would probably not be a weekly poll candidate, but it would make for interesting reading. Especially split by region, age of child, recipient of govt support, etc. I only mention this here because we spend more on nursery fees every month than we do on our mortgage, which is crazy because it feels like our home should be the thing we put the most money into!
    Thanks so much to everyone who posts on here!

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  • EctophileEctophile Forumite
    4.5K posts
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    The poll says a lot about the MSE readers' demographic - almost all home owners.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • Sunny_DaySunny_Day Forumite
    14 posts
    Part of the Furniture 10 Posts Combo Breaker
    MoneySaving Newbie
    Ectophile wrote: »
    The poll says a lot about the MSE readers' demographic - almost all home owners.

    You reckon, that could be because they're all moneysaving experts and have saved lots of cash to get rid of their mortgages ASAP?


    I know I've worked bloody hard and lived very miserly, to get mine down to as low as it is and pay it off soonest. Only 2y1m to go and there will be another 10% overpayment next Jan. 10% seemed unimaginable when I first got started, but next Jan it'll be just over one month's payment. Yaaaayyyy!!!
  • MalkytheheedMalkytheheed Forumite
    429 posts
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    Sunny_Day said:
    Ectophile wrote: »
    The poll says a lot about the MSE readers' demographic - almost all home owners.

    You reckon, that could be because they're all moneysaving experts and have saved lots of cash to get rid of their mortgages ASAP?


    I know I've worked bloody hard and lived very miserly, to get mine down to as low as it is and pay it off soonest. Only 2y1m to go and there will be another 10% overpayment next Jan. 10% seemed unimaginable when I first got started, but next Jan it'll be just over one month's payment. Yaaaayyyy!!!
    Most of the VHNWI's I know rent. they don't own their own home. It's actually finnancially prudent for them to rent. 
  • CatsacorCatsacor Forumite
    516 posts
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    I can't even access the Poll let alone vote in it.
    I was going to vote 25%  

    Edit:
    I now see it was started at the start of the year so i'm presuming they're time sensitive 🙄
    First, take responsibility .....
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