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

ratechaser

Iamdebtfree said:

Money is the root of all evil. I'd give anything to live in a money-less world. A commune. Huts, chickens, grass (of the inhaleable kind), long hair, Led Zep, Purple, Motley Cru and Steel Panther and vodka. Eh. 

Money buys you a tiny bit of peace, a tiny bit of semi-security, a few things you need. Rent, bills, food, booze. A few things you want.  Nicotine patches for smokers. Red hair dye.

Otherwise..I'd like to exchange a few choice words with whomever decided life had to be about having bits of paper to trade for being alive.

We have and will always trade to get what we need or want. Bits of paper were just, at some point, determined to be a convenient way to normalise things and create a more common form of exchange (well, in fact coin came first, paper was then the next iteration of convenience).

That said I respect your viewpoint in a desire for the good life (a la Tom and Barbara). But at the risk of being pedantic, and thinking back to my Chaucer, it's the love of money that is the root of all evil.

theoretica

Though of course one of the main reasons for feeling well off is earning more than the people you mostly associate with - loads of money is relative and not absolute.

Brynsam

Mr_Maths said:

I think the problem with a £45k salary is that it's enough to make your job unbearable but not enough to be rolling in the money. 

Typo, surely!

I wonder how many people who are struggling on minimum wage, or out of work and struggling even more on benefits, make of all these airy dismissals of a salary of 'only' £45K? For them it must be a seemingly unattainable goal.

The_Urbanite

£45k can be a lot. It depends on your circumstances. 

If you're in your early 20s, living at home rent-free with no financial dependants then that leaves quite a lot of disposable income to splash about.

£45k would allow a reasonable degree of independence. In London that kind of money would allow you to leave home and get a room in a nice shared flat near a rail station and a monthly ticket into town. Bills wise you could afford luxuries like a cleaner, all your favourite subscriptions.  You can go out for drinks and eat out at restaurants. And you could put away a bit to save each month, as well as service a student loan and pension. But you won't be living like a millionaire that's for sure.

If you have children then even £45k won't get you very far in London - people find they have to move out. A higher standard of living can be achieved in places where rent and house prices are lower. People who get help to get a cheaper mortgage or a property passed onto them are at a significant advantage. 

Earning £45k doesn't necessarily mean having a stressful job. People earn a lot more than that for work that isn't very strenuous.

In response to the title question, it depends on your money management skills. For some people, having money bothers them. It's like a hindrance that must be disposed of. I think that once living expenses are taken care of that it's ok to enjoy yourself and have contingency for a rainy day. But the most important thing is to live within means.

piperm87

It doesn't matter how much money i earn, i always seem to look at our bank balance near pay day and wonder why we are worryingly close to the overdraft and i can never see anything for it. That can be the same regardless of how much i pick up per month - Salary plus any paid overtime/standby.

MovingForwards

Never earned £45k, most I ever had was just over the average income and enabled me to save and clear a lot of debt. Despised the job and ended up quitting, taking a temp role for half of what I was earning and working part-time. Fortunately, it was enough to save a little each month and also become debt free.

I've settled in a new job paying just over £21k, kept saving and purchased my own home this year, about 25 miles from where I work. Now I'm saving, paying into a private and work pension, making mortgage overpayments, slowly doing my home and I also run an old car.

A lot is down to priorities and careful budgeting.

Cam93

I'm 26 and currently earn 52-55k per year, whilst I dont struggle for money supporting my OH and new born I was certainly happier on 45k with a less stressful job

There's alot to be said fir simply being happy - if taking a step back or payout means you'll be happier id certainly suggest it, which is exactly what ill be doing in January.

Whilst its nice not having money worries I also love within my means so realisticky all my extra money goes on the mortgage or into an ISA or just on pointless wims. But even 52k doesn't go far in the SE supporting a family on 1 salary, I dread to think how others on NMW get by!

Gavin83

I earn a fair amount above £45k a year as does my wife. We have no children and live in the South East and it’s fair to say that by most people’s standard we have a high level of disposable income. It is a blessing not having to worry about money and being able to afford nice things.

However I could afford to earn less. Once you reach a certain level of income (I’d put this figure below £45k) you don’t really have to worry about money anymore and therefore any extra you earn won’t bring you further happiness. It’ll just buy you more stuff.

As others have said more money generally equals more workplace stress. I’m temporarily doing another role which will lead to a permanent position and a reasonable pay rise and potentially a substantial pay rise. It’s an enviable salary but the job is considerably more stressful and I’m considering at the moment if the extra money is worth the stress. I think I was happier in my previous substantive role earning a decent salary. Had I gone from £20k to £40k I might not have the luxury of choice.

Its also worth noting that having a wife earning the same good salary and no children makes a huge difference. If I was the sole earner while my wife raised our child life would probably be more of a struggle.

John_

Iamdebtfree said:

Money is the root of all evil. I'd give anything to live in a money-less world. A commune. Huts, chickens, grass (of the inhaleable kind), long hair, Led Zep, Purple, Motley Cru and Steel Panther and vodka. Eh. 

Money buys you a tiny bit of peace, a tiny bit of semi-security, a few things you need. Rent, bills, food, booze. A few things you want.  Nicotine patches for smokers. Red hair dye.

Otherwise..I'd like to exchange a few choice words with whomever decided life had to be about having bits of paper to trade for being alive.

You really do have some strange views.

It’s not about the pieces of paper, they just mean that you don’t have to directly barter your labour for what you need that day, it’s about the fact that it’s no-one else’s job to provide you with either life’s basic necessities, or luxuries, or happiness. You’re writing as though it’s unfair that you have to get off your backside and do something to earn your food and shelter.
What you are implying is that other people, people like me and other posters on here, need to work harder than we otherwise would to let you lie around being fed and clothed.

The hippy life that you describe is the life of a leech, taking from others, and giving nothing back in return.

AskAsk

John_ said:

Iamdebtfree said:

Money is the root of all evil. I'd give anything to live in a money-less world. A commune. Huts, chickens, grass (of the inhaleable kind), long hair, Led Zep, Purple, Motley Cru and Steel Panther and vodka. Eh. 

Money buys you a tiny bit of peace, a tiny bit of semi-security, a few things you need. Rent, bills, food, booze. A few things you want.  Nicotine patches for smokers. Red hair dye.

Otherwise..I'd like to exchange a few choice words with whomever decided life had to be about having bits of paper to trade for being alive.

You really do have some strange views.

It’s not about the pieces of paper, they just mean that you don’t have to directly barter your labour for what you need that day, it’s about the fact that it’s no-one else’s job to provide you with either life’s basic necessities, or luxuries, or happiness. You’re writing as though it’s unfair that you have to get off your backside and do something to earn your food and shelter.
What you are implying is that other people, people like me and other posters on here, need to work harder than we otherwise would to let you lie around being fed and clothed.

The hippy life that you describe is the life of a leech, taking from others, and giving nothing back in return.

i don't think she is saying what you understand, but i do think she is a bit naieve, especially for someone who is 50, to live in the world of the 70s hippy.  i have come across a lot of people who would blame money for all the wrongs in the world.  they tend to be people who do not have money in the first place, and i feel it comes partly from them being envious of others who have more money than they do.

i don't have a problem with people who want to lead a lifestyle that is on the fringe of the norm, but to criticise the general public for wanting to earn more money to provide security and comfort for themselves and their family is totally wrong.

money is not the root of all evil, greed is the root of all evil.  greedy people who are evil and selfish are the root of all evil.  money certainly does not guarantee happiness, and often it can cause unhappiness, but with a lot of money to cushion you, it can take the daily stress away from you, and no one wants to live a stressful life if they can help it.  having lots of money can also be a good thing as being a kind person, you could do a lot of good with the money that you have.