What's it like having and earning loads of money??

RobM99

I earn far more. Sadly I'm paid a lot less!

strawb_shortcake

I was expecting the salary to be larger than £45k
I don't earn that much, but live quite cheaply so have quite a bit of disposable income, whereas others earning far more than me will have less as they live to their means. 
I had colleagues living and working in the North West of England same salaries as us in the south west, but I couldn't afford the yearly trips to Florida as most of them could.

My Nephew and his friends aged 18/19 all spend far more on clothes than I ever have and ever likely to. They are all obsessed with Stone Island (I think) one of them spent £600 on a jumper. But I do wonder if they have the right or wrong idea, buy it while you have no commitments, but run the risk of expecting these expensive clothes when you have commitments? Personally I'd have been saving like mad

Mickey666

ssparks2003 said:

The more you earn, the more tax you pay, the more your employer expects of you, the more responsibility you carry for both your performance and those who work for you. 

Well yes, but what's your point?

Another way of looking at it might be the more you can offer an employer, the more responsibility you're prepared to take, the more you'll be able to earn and the more tax you'll pay.

That's life isn't it?

steampowered

annabanana82 said:

My Nephew and his friends aged 18/19 all spend far more on clothes than I ever have and ever likely to. They are all obsessed with Stone Island (I think) one of them spent £600 on a jumper. But I do wonder if they have the right or wrong idea, buy it while you have no commitments, but run the risk of expecting these expensive clothes when you have commitments? Personally I'd have been saving like mad

They might be spending the money that in days gone by would have gone on ciggies and booze. Smoking and drinking among teenagers has gone done drastically over the past 10-20 years or so, as has teenage pregnancies. Shifting priorities among younger people.

strawb_shortcake

steampowered said:

annabanana82 said:

My Nephew and his friends aged 18/19 all spend far more on clothes than I ever have and ever likely to. They are all obsessed with Stone Island (I think) one of them spent £600 on a jumper. But I do wonder if they have the right or wrong idea, buy it while you have no commitments, but run the risk of expecting these expensive clothes when you have commitments? Personally I'd have been saving like mad

They might be spending the money that in days gone by would have gone on ciggies and booze. Smoking and drinking among teenagers has gone done drastically over the past 10-20 years or so, as has teenage pregnancies. Shifting priorities among younger people.

There is that, my Nephew spends a lot of money on his cars. In normal times he rarely drinks as he loves driving so is more than happy to be designated driver. 
I have teenagers and very few of their peers smoke and drinking isn't as common as it was when I was 15-17. Their taste of alcohol has only been with parents present be it us or their friends parents so far.

[Deleted User]

Guess it is just the security of having funds available to the opposite of when you have it you don’t feel but when there isn’t enough, aargh. When my freezer died 2 weeks ago could have run away when I lost couple of hundreds worth of food. That freezer would never have gone whilst I was on my uppers! My £35 monthly pension contribution I don’t see going very far for old age! I can see my £1000 savings definitely coming out in the new year sales to buy a fridge/freezer suitable to what has gone.
I considered and nearly interviewed for a Saturday job last month but then I thought do I really want to work 6 days and what that may do to quality of life.
Equally I had a family member when growing up who would eat rotten meat and absolutely tight with money when well off, though their greatest gift was to co help with my home, and now they are resting in a very expensive and quite flash care home finally relinquishing all that was saved. 

Sandtree

It’s complicated... many peoples living costs go up as their income does but both happen gradually and so you don’t feel a large step change. Practicalities of life remain the same, you still get a wet foot when the sole of your shoe gives up the ghost but the replacement is now more expensive. You still save up for your holiday but its now in the Maldives rather than the Canaries. Heating a 6 bed house costs more than a 2 bed flat etc.

The struggle is certainly less but once you get above the breadline the majority still need to work, save, have bad months when something breaks etc.

robatwork

It may surprise you what to you looks a vast salary brings home. Look at this:

Net Salary Calculator UK 2020: Income Tax Calculator, Take Home Pay Calculator, Wage Calculator

45k gross takes home £2853. If you have student loans then it's less.  
Most people earning this amount will have a mortgage and other expenses - bills, food, children, and this will barely cover even a typical £1,000pcm mortgage and bills.

So all depends on the circumstances. If you're living (rent free) with parents and all of it is liquid cash then it's a totally different situation to the above.

pjcox2005

I always find it interesting that people don't do more extreme things with earning more money. For most it gives security and other luxuries like a nicer car, house, private school for kids, but how many (me included) do you see really doing much different like a sabbatical or impacting society around them? You almost get used to that expenditure and work pressure and continue to want to strive for more rather than perhaps taking stock of what you have or could do.

AskAsk

pjcox2005 said:

I always find it interesting that people don't do more extreme things with earning more money. For most it gives security and other luxuries like a nicer car, house, private school for kids, but how many (me included) do you see really doing much different like a sabbatical or impacting society around them? You almost get used to that expenditure and work pressure and continue to want to strive for more rather than perhaps taking stock of what you have or could do.

i have seen people spend a lot more if they earn more.  i personally think it is foolish to do so, as you never know when the gravy train will be stopping, so you are better off saving to make sure you have enough money to live on comfortable even if you can no longer work.