With the cost of living crisis, how much does a family of 5 need to earn a year to be comfortable?

toby3210

Assume modest living, no private schools, 1 foreign holiday per year

marcia_

<£50k

 Really depends on the type of lifestyle you expect and where in the country you live. 

Martin_the_Unjust

<£50k

………and when we were a family of five a foreign holiday was a foreign concept!  kids enjoyed our weeks camping holiday every year.

tealady

Poll is meaningless. Depends on where you live, age and gender of kids, lifestyle, whether you rent, have a mortgage or own outright, health, diet etc etc

Undervalued

tealady said:

Poll is meaningless. Depends on where you live, age and gender of kids, lifestyle, whether you rent, have a mortgage or own outright, health, diet etc etc

Exactly!

Just one other example. I live in an area where property prices are sky high. That seems to have a knock on effect on the prices tradesmen quote for any maintenance or home improvement work. What I am quoted always seems to be far more than friends pay for similar work in areas where property is much cheaper. Almost as if jobs are priced as a percentage of the property value!

TELLIT01

Impossible to answer as there are so many variables.  One person's modest lifestyle is somebody else's excessive spending. 

MattMattMattUK

>£100k

As others have said there are far too many variables to give a reliable answer. Even ignoring everything else the split of income also matters. Two people earning £50k each would take home £38,024 each or £76,048 between them, but a couple where one earns £100k and the other is a stay at home parent would only take home £67,053, whilst also losing child benefit. 

In the area where I live £50k would barely be enough to survive, mortgage/rent for a suitable property would be £2k+ but with a £50k income you would never even get a mortgage of enough to buy a home, move an hour away and that number halves, move up north and that number could be a quarter. 

mr_stripey

too many variables, and largely pointless discussion anyway since most people don't have an option to earn (much) more so everyone has to make do with what they have. Whether it is "enough" by some arbitrary figure is irrelevant 

Marcon

Poll misses out pretty much all essential information, so impossible to answer.

powerspowers

I think the votes are showing frugal rather than moderate lifestyles!
im in a family of 4 and have answered based on our housing costs in the midlands. 

housebuyer143

Not sure why all your options start £50k+. Family of 3 here living on £21k nicely and could probably get two more kids for not a huge amount more.

Everyone is different though, and largely depends where in the country you are amongst other things.