How much would you like earn a year (what would you be happy with?)
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Original post by sr90
I'm on 27k, live independently and live very comfortably.
Man, we must have different definitions of 'very comfortably'!
Original post by Etomidate
Man, we must have different definitions of 'very comfortably'!
What is your definition?
Original post by Etomidate
Man, we must have different definitions of 'very comfortably'!
What is you definition of very comfortably? Like Jordan Belfort? xD
Frankly if you work in London in a professional role and you're not making at least £50-60k after a few years of work, then you're getting robbed blind, in my experience.
Original post by SophieSmall
What is your definition?
Original post by DK_Boy12
What is you definition of very comfortably? Like Jordan Belfort? xD
Nah not at all.
Generally I aim to be putting away £400-800pcm into savings/investments.
I eat out about 2-3 times per week with friends (with more than one course and drinks at a nice place, that is). Have drinks at a lounge/cocktail bar once or twice a week. Be able to buy a few nice pieces of clothing a few times a month. Go to a few music events a month. Live somewhere with extra space inside and out with nice furniture.
(edited 8 years ago)
Original post by Etomidate
Nah not at all.
Generally I aim to be aiming to put away £400-800pcm into savings/investments.
I eat out about 2-3 times per week with friends (with more than one course and drinks at a nice place, that is). Have drinks at a lounge/cocktail bar once or twice a week. Be able to buy a few nice pieces of clothing a few times a month. Go to a few music events a month. Live somewhere with extra space inside and out with nice furniture.
Generally I aim to be aiming to put away £400-800pcm into savings/investments.
I eat out about 2-3 times per week with friends (with more than one course and drinks at a nice place, that is). Have drinks at a lounge/cocktail bar once or twice a week. Be able to buy a few nice pieces of clothing a few times a month. Go to a few music events a month. Live somewhere with extra space inside and out with nice furniture.
You just described the level of living of someone who earns £30k after tax xD
Original post by DK_Boy12
You just described the level of living of someone who earns £30k after tax xD
Again, we're not talking about someone who earns £30k after tax. We're talking about someone who earns £27-30k pre-tax.
Original post by Etomidate
Again, we're not talking about someone who earns £30k after tax. We're talking about someone who earns £27-30k pre-tax.
£30k pre-tax is £26k after tax, which is not that much different :/
Original post by DK_Boy12
£30k pre-tax is £26k after tax, which is not that much different :/
£30k after tax, student loan and pension is £21,100.
Original post by Etomidate
£30k after tax, student loan and pension is £21,100.
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Original post by Etomidate
£30k after tax, student loan and pension is £21,100.
You can't count that as an expense, pension is an investment, which you may choose or not to do, and student loan is subjective, you might not even have one...
Original post by DK_Boy12
You can't count that as an expense, pension is an investment, which you may choose or not to do, and student loan is subjective, you might not even have one...
Good luck with your financial planning goals of 2016.
Original post by Etomidate
£30k after tax, student loan and pension is £21,100.
Pensions aren't necessarily deducted from salary. Mine isn't, in fact it's added on as an extra 10% of takehome.
Original post by Etomidate
Surprised at people actively aiming for £30k. It's pretty difficult to live in your own place on £30k with a decent lifestyle and still be able to save money.
Maybe that's just me, though
Maybe that's just me, though
Were you raised at Clarence house perchance?
30K would be living the dream for me. Personally I'll be over the moon to finally earn 21K after earning 12-15K for 4 years. 21K means independence for me - pay my own rent/bills, survive by myself. 21K+ means a life of luxury (i.e. money left over after rent and bills for whatever I like). I grew up in a household on less than 21K with 2 kids so 21K+ is more than comfortable to me.
I can't actually understand how someone would think 30K as a single person would be anything less than comfortable.
Original post by somethingbeautiful
Were you raised at Clarence house perchance?
30K would be living the dream for me. Personally I'll be over the moon to finally earn 21K after earning 12-15K for 4 years. 21K means independence for me - pay my own rent/bills, survive by myself. 21K+ means a life of luxury (i.e. money left over after rent and bills for whatever I like). I grew up in a household on less than 21K with 2 kids so 21K+ is more than comfortable to me.
I can't actually understand how someone would think 30K as a single person would be anything less than comfortable.
30K would be living the dream for me. Personally I'll be over the moon to finally earn 21K after earning 12-15K for 4 years. 21K means independence for me - pay my own rent/bills, survive by myself. 21K+ means a life of luxury (i.e. money left over after rent and bills for whatever I like). I grew up in a household on less than 21K with 2 kids so 21K+ is more than comfortable to me.
I can't actually understand how someone would think 30K as a single person would be anything less than comfortable.
Not at all. I just work like a dog for my salary and hope to have a nice lifestyle in return.
At the end of the day, I appreciate it's all relative and we all have different perceptions of lifestyle.
(edited 8 years ago)
Original post by Etomidate
Good luck with your financial planning goals of 2016.
If there is one thing that I know how to do is budgeting, you are the one who needs luck because apparently £30k a year is living tight for you xD
I'm a college student, pay rent (shared house obviously), managed to put away £5k for uni over 2 years, whilst going on holidays 2/3 times a year (this year I'm going 4 times, Amsterdam, Iceland and Portugal twice) and having nights out 2/3 times a week with the occasional meal.
Ok, might not be the fanciest restaurants and the pochest cocktail bars, but I still have a pretty decent life now on £8/£10k a year, I'm pretty sure I would be fine with an hypothetical £30k
But obviously yeah, it's all subjective to each one's perception of the matter
(edited 8 years ago)
Original post by Etomidate
Not at all. I just work like a dog for my salary and hope to have a nice lifestyle as a consequence.
At the end of the day, I appreciate it's all relative and we all have different perceptions of lifestyle.
At the end of the day, I appreciate it's all relative and we all have different perceptions of lifestyle.
I work like a dog for mine and have barely anything to show for it.
I guess it depends on upbringing and perception of wealth. I can see how 30K+ would be an ambition for someone raised with parents in professional jobs etc - they'd want to 'match' their financial success. I just don't see how it could make them think that ~30K would be a struggle - I suppose, if they've never experienced life in a household less than £40K they might automatically assume that it must be a struggle not to shop at Waitrose every week and not run a brand new car...or whatever.
Original post by Etomidate
Nah not at all.
Generally I aim to be aiming to put away £400-800pcm into savings/investments.
I eat out about 2-3 times per week with friends (with more than one course and drinks at a nice place, that is). Have drinks at a lounge/cocktail bar once or twice a week. Be able to buy a few nice pieces of clothing a few times a month. Go to a few music events a month.
Generally I aim to be aiming to put away £400-800pcm into savings/investments.
I eat out about 2-3 times per week with friends (with more than one course and drinks at a nice place, that is). Have drinks at a lounge/cocktail bar once or twice a week. Be able to buy a few nice pieces of clothing a few times a month. Go to a few music events a month.
I don't see how that isn't achievable on 30k unless you have high rent.
My brother is on 25k and can afford all those things you mentioned though more in the middle of 600pcm savings, as well as a holiday if he fancies. Though he's not been on one in a while, for different reasons.
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