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  • FIRST POST
    Former MSE Lawrence
    Are you worth more than you earn? Poll results/discussion
    • #1
    • 26th Aug 08, 9:54 AM
    Are you worth more than you earn? Poll results/discussion 26th Aug 08 at 9:54 AM
    Poll between 26 August - 2 September 2008:

    Are you worth more than you earn?

    How does your income compare to your wealth? Are you asset rich and cash poor? Do you earn a lot but own nothing? Or are you just badly in debt?

    How to work it out:
    • Wealth: Add all assets (savings, shares, home) and subtract debts (mortgage, loans, credit cards). If your debts are bigger than your assets you have negative wealth (and are overall in debt)
    • Income: Total all the amount you earn in a typical year from salary, interest, pension.
    Which of these categories do you fit in?

    A. IN DEBT: You owe 21 times or more your earnings. 2% (158 votes)
    B. You owe 16 to 20 times your earnings 0% (32 votes)
    C. You owe 11 to 15 times your earnings 1% (58 votes)
    D. You owe 6 to 10 times your earnings 3% (242 votes)
    E. You owe 2.5 to 5 times your earnings 9% (677 votes)
    F. You owe 1 to 2.4 times your earnings 9% (653 votes)
    G. You owe less a year’s earnings 17% (1268 votes)
    H. IN CREDIT: You’re worth less than a year’s earnings 13% (957 votes)
    I. You’re worth 1 to 2.4 times your earnings 13% (957 votes)
    J. You’re worth 2.5 to 5 times your earnings 14% (1092 votes)
    K. You’re worth 6 to 10 times your earnings 9% (706 votes)
    L. You’re worth 11 to 15 times your earnings 3% (235 votes)
    M. You’re worth 16 to 20 times your earnings 2% (160 votes)
    N. You’re worth 21 times or more than your earnings 5% (358 votes)

    Voting has now closed, but you can still click 'post reply' to discuss below.


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    Last edited by MSE Researcher; 02-09-2008 at 5:14 PM.
Page 1
  • shelovestobuystuff
    • #2
    • 26th Aug 08, 12:48 PM
    • #2
    • 26th Aug 08, 12:48 PM
    Looking at the big picture makes my situation appear quite rosy,asset rich but cash poor.I clicked K but that still doesnt help me pay the bills month to month,did chear me though to see I am actually not in too bad a situation overall.
    "Reaching out to touch the stars dont forget the flowers at your feet".
    • ringo_24601
    • By ringo_24601 26th Aug 08, 1:15 PM
    • 17,148 Posts
    • 27,896 Thanks
    ringo_24601
    • #3
    • 26th Aug 08, 1:15 PM
    • #3
    • 26th Aug 08, 1:15 PM
    Oops, i clicked the wrong one.. forgot that my house was an asset worth more than the mortgage!
  • before hollywood
    • #4
    • 26th Aug 08, 1:35 PM
    • #4
    • 26th Aug 08, 1:35 PM
    h- i don't have any debt any more (well about 100 on my overdraft) but thats it and i have a car (paid for) and odds and ends of stuff (paid for)
    things arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back then
    BH is my best mate too, its ok

    I trust BH even if he's from Manchester..
    Originally posted by MercilessKiller
    all your base are belong to us
    • Coveredinbees!!!!
    • By Coveredinbees!!!! 26th Aug 08, 4:09 PM
    • 3,183 Posts
    • 1,966 Thanks
    Coveredinbees!!!!
    • #5
    • 26th Aug 08, 4:09 PM
    • #5
    • 26th Aug 08, 4:09 PM
    I can't calculate any of this as it's not all mine. My wife owns half of everything.

  • ceridwen
    • #6
    • 26th Aug 08, 5:37 PM
    • #6
    • 26th Aug 08, 5:37 PM
    Well....thats ceridwen dropping dead of shock - as I clicked M and that apparently makes me in the top 5% of the population - on my low salary (little more than National Minimum Wage). Add the fact that I have the higher expenses of a single person AND the higher expenses of living in a dear part of the country - and I am thinking "looks like I can polish the financial halo". Crikey - I knew I am good with money (and have learnt a lot from M.S.E. to help with this - thanks Martin ) - but its nice to know that I have proof positive that I'm obviously a b.....y good money manager.

    Okay....employers....form an orderly queue right here....I'm available as your personal Financial Planner - for double the salary I earn at present - and a Christmas Bonus wouldnt go amiss either. A gal's gotta value herself you know....God knows employers never have....
    • Dorrie
    • By Dorrie 27th Aug 08, 6:56 AM
    • 66 Posts
    • 46 Thanks
    Dorrie
    • #7
    • 27th Aug 08, 6:56 AM
    • #7
    • 27th Aug 08, 6:56 AM
    I ticked N because I, personally, only earn around £50 per week. I have two jobs (plus being a wife and mother!!) but one is voluntary, so I don't get any pay for that. We have no debts (mortgage around £18000), everything is owned outright.
  • thecraftybear
    • #8
    • 27th Aug 08, 8:44 AM
    • #8
    • 27th Aug 08, 8:44 AM
    Well hubby and me together as a household are in I. We own both cars outright and are paying off the mortgage as quickly as possible. I'm "stoozing" a large sum in my offest mortgage account to make a profit, does anyone have any tips for extending my stoozing? as I only have one credit card with such a high limit!
    cheers
    Striving down south to stay northern and tight!
    • sparrer
    • By sparrer 27th Aug 08, 10:14 AM
    • 6,789 Posts
    • 53,702 Thanks
    sparrer
    • #9
    • 27th Aug 08, 10:14 AM
    • #9
    • 27th Aug 08, 10:14 AM
    I clicked L but in fact my value is off the scale ..well it is according to my DGS who I took to the Motor Show a couple of weeks ago, anyway

    I'm on a pension but my total worth on paper is now well into the L bracket for the first time in my life. The feeling of relief and security was well worth the wait. I don't own my house but I don't owe anyone anything now and have just recently made some very small but sound investments - thank you MSE
  • sdooley
    Unless you've just lost your job I don't see how A-C are possible. No-one would lend to someone with that much debt surely? (not counting mortgages which will have a matching asset). M-N will be mostly pensioners I suspect.
    • geri1965
    • By geri1965 27th Aug 08, 2:34 PM
    • 8,366 Posts
    • 14,004 Thanks
    geri1965
    I can't work it out accuratelt as I have no idea of the value of my pension, endowment policy and death in service benefit (if that counts).

    If I do a very rough guess using value of house + savings minus mortgage (no other debts) then I fall into J.
    • Rainy
    • By Rainy 27th Aug 08, 3:17 PM
    • 432 Posts
    • 1,301 Thanks
    Rainy
    I'm a C!
    Unless you've just lost your job I don't see how A-C are possible. No-one would lend to someone with that much debt surely? (not counting mortgages which will have a matching asset). M-N will be mostly pensioners I suspect.
    Originally posted by sdooley
    Unfortunately it's possible for me! I'm self employed and just opened my second shop so I have loans to cover set up costs etc. and I'm not earning any wages from it...yet!
    Pround to be dealing with my debts! DFW Nerd # 1201
    Coloured Squares 506/900

    The early bird catches the worm, but the second mouse gets the cheese
    • chardir
    • By chardir 27th Aug 08, 4:34 PM
    • 222 Posts
    • 160 Thanks
    chardir
    And the prize for most complicated poll ever goes to... MSE Lawrence! :rolleyes:
    • MSE Martin
    • By MSE Martin 27th Aug 08, 5:21 PM
    • 8,116 Posts
    • 42,310 Thanks
    MSE Martin
    And the prize for most complicated poll ever goes to... MSE Lawrence! :rolleyes:
    Originally posted by chardir
    Nope - this ones all mine - MSE Lawrence just put it up for me
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

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  • sdooley
    I can't work it out accuratelt as I have no idea of the value of my pension, endowment policy and death in service benefit (if that counts).

    If I do a very rough guess using value of house + savings minus mortgage (no other debts) then I fall into J.
    Originally posted by geri1965
    Death in service benefit doesn't count. I have 4 x salary but it's not an asset, I can never use it. (In fact attempting to transfer it for payment or borrow against it will normally void your family's claim, depending on the terms of the trust).
  • sdooley
    Although "are you worth more alive than dead" is an interesting one. I'm definitely worth more dead than alive to my loved ones in purely fiscal terms but I'd hope they'd see it differently in general!
  • teddyco
    Britain has proved yet again that the Siren's Song of Socialism with all its' gold-plated promises and sugar coated dreams doesn't work for British families.
    This is the REAL reason why so many folks are struggling with expensive bills and lowest levels of expendable income for the last decade.
    Labour always runs out of money and that's still true today!
    It's not just a case of getting the Conservatives in power; It's a case of forcing them to make the required changes to the give-away social programs that are strangling this country.
  • doctorthoughtfull
    Flawed results ?????
    I ticked box "N",,,, but as I only earn 6000 a year the value of assets is little

    ............................................
  • stogiebear
    Unfortunately this poll is so complicated and badly worded that no information can be extracted from it. That's a pity because how people look at their own financial worth is an interesting subject to pursue.
    • Charis
    • By Charis 28th Aug 08, 1:28 PM
    • 1,293 Posts
    • 13,610 Thanks
    Charis
    If you have been made redundant and are living in your car, provided the car is your own you are liable to be at the top of this league. Value of car divided by JSA = .....
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