Is 30k a year a decent wage to live on (outside london)?

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Thanks I appreciate the advice.. My situation is probably different to most on here as I have a young child and my partner does not work as she has to look after him when Im at work.. I have a bad feeling my money will be supporting us all for a longtime as she has shown little interest in returning to work. If I earn 30 and she earned 15 (she is unskilled) it would be less worrying.

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Could you talk to her about getting a weekend or evening job that is part time?

Reply 21

JT_888

Original post by T-Raw

I am currently earning 23k a year at the age of 24. As a non-grad my future still looks okay as I am working in the field I want (Information Technology) and will most likely be moving up the ranks in my current company. Thing is I have a feeling most I'll earn is 30k at a push as I dont want to moveup to a position where I step away from the tech-side as I enjoy what I do and have found the higher up you go the more you stray from it.

Looking at other tech roles it appears 30k is the general offering (top end) which makes me believe its the most Ill earn in this industry. Do you think its enough to live life on 30k a year and be reasonably comfortable? Or will I have to step-up into management to earn the big money? Again this isn't ideal as I like getting my hands dirty and not snowed down with paper work.

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Although, I'm a GCSE student from London, I can say that earning 30k in London before tax is decent considering that the average wage is around 26k. If you're worried about moving away from the tech-side of things if moving up, I would advise speaking to someone who deals with this and see what they could possibly do.

Reply 22

chosenone93

Your doing exceptionally well to be on 24k at 24 with no degree.

Reply 23

username738914

Should be alright as a junior level employee within a company, but I'd look for opportunities to grow that over time.

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Reply 24

Trinculo

Original post by chosenone93

Your doing exceptionally well to be on 24k at 24 with no degree.

Well, not really. It depends what else you can do. I would have thought a McDonalds trainee manager would start on more than £20,000.

If you're not a graduate, that could be as much as 8 years in the workplace unqualified, or 5-6 with some sort of qualification.

Unless a person is completely lacking in ability or ambition, 5-8 years is a long time to rack up seniority in even quite mundane jobs.

Reply 25

Reue

Lmao. And how much would one need to spend money on anything at any time?

Reply 26

Trinculo

Original post by JTran38

Don't you think it depends on loads of things? Most of all whether or not you live with parents (i.e. no housing costs) if that's the case, then £30,000 gross is a king's ransom.

A person living relatively central in family home would have tons of disposable income. A person living by themselves and having to run a car would have much much less - and these are kind of circumstantial.

Reply 27

Reue

I make that and certainly can't spend on anything I want at any time :frown:

Reply 28

Atlas Thugged

Original post by 1010marina

30k is fantastic. A lot of people live on less than half of that. You'll live well

It's not fantastic, it's an average wage and certainly it would be tough to raise a family on it in London. I'm not saying this out of snobbery because I'm not like that, but if you pretend it's more than it is, you neglect the fact it would still require budgeting and self-sacrifice.

Reply 29

Reue

but thats what I want...

Reply 30

Chief Wiggum

To be honest, it seems to be that it's having a family that is the real drain on finances.

If there's just you, or yourself and a partner, I'd imagine it would certainly be enough for a good standard of living.

Reply 31

1010marina

Original post by Atlas Thugged

Self sacrifice from what?

Reply 32

Atlas Thugged

Original post by 1010marina

Self sacrifice from what?

If you're living in London, you have a wife and 2 children and you're earning 30k, you're not gonna be going to Dubai twice yearly.

Reply 33

I feel myself

Original post by Reue

but thats what I want...

How much do you make and your profession?

Reply 34

1010marina

Original post by Atlas Thugged

If you're living in London, you have a wife and 2 children and you're earning 30k, you're not gonna be going to Dubai twice yearly.

And you consider that "living comfortably" and not excessive luxury?

Go to Barcelona for a weekend it's £200 and you'll have a cracker.

Reply 35

username738914

Original post by 1010marina

And you consider that "living comfortably" and not excessive luxury?

Go to Barcelona for a weekend it's £200 and you'll have a cracker.

Since when is a trip to Dubai 'excessive luxury'?

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Reply 36

Reue

Original post by I feel myself

How much do you make and your profession?

Not enough to buy anything at anytime :cry2:

Reply 37

Lord Samosa

Original post by Princepieman

Since when is a trip to Dubai 'excessive luxury'?

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It is if you come from a working class background.

Reply 38

1010marina

Original post by Princepieman

Since when is a trip to Dubai 'excessive luxury'?

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Twice yearly trips is luxury... Ive never known anybody go there more than once that does not have family there.

Like I said, go on holiday closer to home. You can holiday for a week in Spain for the price of the flight to Dubai.

Reply 39

hezzlington

Original post by Profesh

As the owner of my non-London, Cotswold-situated apartment, I make do more than comfortably (i.e. bespoke furniture, £400 shoes) on quite substantially less than that; but then I'm also a fiscally scrupulous bachelor, who commutes by bicycle since 2011 and hasn't felt the urge to take an overseas vacation in almost as long, so of course your mileage may vary.

Granted, if I ever look to start a family I might relent and consider plying my somewhat under-valued skillset elsewhere; but it seems to me that if you're expecting anything resembling prudent advice on matters of personal finance from a community of 17-year-old baby hedge-fund managers to whom 'home' is a Wi-Fi equipped crèche in the W8 postal district, you may be angling for disappointment.