Joyc3grac3
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Is a 24k salary a good enough pay as a single mum of 4 kids living in London(3 bedroom house with a rent of 1.5k a month) ?
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MedMolly798
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Sounds a bit tight but maybe? Idk
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stem_leader
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No.

https://listentotaxman.com/24000?

Rent alone would take up 90% of the NET income (£1.6k per month according to the Monthly Net Wage cell) and once you subtract bills there isn't enough for food and clothes. It would be a below subsistence living if the salary alone were the income. In addition, a full time role might require childcare depending on the age of the children, making this even more impossible to live on.

A liveable salary would be that the rent is 50% (max) of the NET income, which because of progressive taxation means that a rent of £1.5k per month means that a desirable salary should be around £48k per year to achieve an income of £3k per month.

This is why it's super hard on single parents... it's easier to get a second income (via a partner) than to double an income.
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Nadia19
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(Original post by Joyc3grac3)
Is a 24k salary a good enough pay as a single mum of 4 kids living in London(3 bedroom house with a rent of 1.5k a month) ?
Noooo London is really expensive for that
Do some research on it
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Joyc3grac3
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(Original post by stem_leader)
No.

https://listentotaxman.com/24000?

Rent alone would take up 90% of the NET income (£1.6k per month according to the Monthly Net Wage cell) and once you subtract bills there isn't enough for food and clothes. It would be a below subsistence living if the salary alone were the income. In addition, a full time role might require childcare depending on the age of the children, making this even more impossible to live on.

A liveable salary would be that the rent is 50% (max) of the NET income, which because of progressive taxation means that a rent of £1.5k per month means that a desirable salary should be around £48k per year to achieve an income of £3k per month.

This is why it's super hard on single parents... it's easier to get a second income (via a partner) than to double an income.
I have been meeting a guy who is a potential boyfriend. He has a salary of around 24k just like me and we have been thinking of him moving in, do you think with both of us it will be a better salary?
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stem_leader
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(Original post by Joyc3grac3)
I have been meeting a guy who is a potential boyfriend. He has a salary of around 24k just like me and we have been thinking of him moving in, do you think with both of us it will be a better salary?
Between you, you have the means to make this work - on paper.

So yes. But you need to be sure he's really going to be there and supporting you. If he doesn't fully support you then being single means immediately going onto benefits or losing your home (moving away to find something cheaper - which could put your employment at risk, etc).

So yes... but sit him down and have those hard conversations. People do this, it doesn't always work but sometimes it works just fine.
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sufys12
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If your salary is £24,000, then after tax and national insurance you will be left with £19,960.

Rent= £1500 x 12= £18000
Can you survive on £1,960 a year? This doesn't even include bills.

Definitely not.

However if you do live with that boyfriend and he does help support you with that money you'll be fine.
He could break up at any time so depending on a person who can just walk out isn't a good idea.
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GabiAbi84
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(Original post by Joyc3grac3)
I have been meeting a guy who is a potential boyfriend. He has a salary of around 24k just like me and we have been thinking of him moving in, do you think with both of us it will be a better salary?
“Potential boyfriend” and you’ve been thinking of moving him in??
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stem_leader
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I dread to ask... this isn't a "I'm pregnant and the scan says triplets and I haven't yet told the man" scenario is it?

Whatever the scenario, have the hard and open conversations early.
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Quady
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(Original post by Joyc3grac3)
Is a 24k salary a good enough pay as a single mum of 4 kids living in London(3 bedroom house with a rent of 1.5k a month) ?
Is it salary or benefits income that isn't subject to income tax and national insurance?
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HorribleHatty
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If that’s your salary, then presumably you get benefits to top it up? If you move your “potential boyfriend” in you will lose more in benefits than you will gain financially from him moving in (do any benefits calculator to confirm). And your kids will be forced to live with a guy they, by the sound of things, barely know.

This doesn’t sound like a good idea on any level.
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Kerzen
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(Original post by Joyc3grac3)
Is a 24k salary a good enough pay as a single mum of 4 kids living in London(3 bedroom house with a rent of 1.5k a month) ?
Can I just ask about this 3 bedroom house in London for which the rent is £1,500 a month?

I'm not sure whether this is a house you already have or what you have in mind.

You can find a house like this in, say, Hounslow or Ilford, but you will find it less easy once you start to get closer to the centre.
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Quady
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(Original post by Kerzen)
Can I just ask about this 3 bedroom house in London for which the rent is £1,500 a month?

I'm not sure whether this is a house you already have or what you have in mind.

You can find a house like this in, say, Hounslow or Ilford, but you will find it less easy once you start to get closer to the centre.
Really?
https://www.rightmove.co.uk/properties/103995536#/

This is in Kilburn, hardly the end of the earth
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RogerOxon
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(Original post by Joyc3grac3)
Is a 24k salary a good enough pay as a single mum of 4 kids living in London(3 bedroom house with a rent of 1.5k a month) ?
No. Nowhere near.
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Kerzen
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(Original post by Quady)
Really?
https://www.rightmove.co.uk/properties/103995536#/

This is in Kilburn, hardly the end of the earth
That's a flat, though. The poster said a house.
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Quady
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(Original post by Kerzen)
That's a flat, though. The poster said a house.
A flat is a type of house. Like a kipper is a type of fish.

Feel free to find a definition of house that excludes flats if you like.

https://www.dictionary.com/browse/house

I live in a tenement house.
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RogerOxon
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(Original post by Quady)
A flat is a type of house.
No, it isn't. A flat can be in a house, but is not one.
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Quady
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(Original post by RogerOxon)
No, it isn't. A flat can be in a house, but is not one.
Cool cool

Any dictionaries agree with you?

Have you let these guys know the stats need to dismiss flats? (and tenements?)

https://amp.ft.com/content/14ef717a-...2-a4d2fcf45bda
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Kerzen
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(Original post by RogerOxon)
No. Nowhere near.
I would agree with you, Roger.

Once all deductions had been made from that annual salary, what was left would pay the rent, assuming that it was around £1,500 a month, but there would be barely anything left for food, clothing and travel. It's just too low a salary.
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RogerOxon
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(Original post by Quady)
Any dictionaries agree with you?
Of course:
(Original post by https://dictionary.cambridge.org/dictionary/english/flat)
a set of rooms for living in that are part of a larger building and are usually all on one floor
(Original post by https://www.collinsdictionary.com/us/dictionary/english/flat)
flat
in British English
(flæt)
NOUN
1. a set of rooms comprising a residence entirely on one floor of a building Usual US and Canadian name: apartment
2. British and New Zealand
a portion of a house used as separate living quarters
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