Off Topic The cost of living

Rather than clutter up other threads.
So is £40,000 enough to live on / set you up for life?

First question is, is that gross or net pay? The scenario I have in mind is, single mid 20s living at home after completing uni or an apprenticeship in a trade, now working for above and looking to move out. Not possible, doable just, comfortably, loaded?

 

Also, depends where you want to live in Asia…no problem….in west London….wouldnt even cover your rent…(zero chance of buying a property on £40k)

 

40k is fine depending on when you bought your house. Example, i bought a house 3 years ago that the bank wouldn't let me buy now. If i was 10 years older I'd be living like a kingm

Also dependent on partners wage and kids etc. Living alone 40k in Hull is plentym

 

It can certainly be enough to live on in the hull area. But it's not enough to set you up for life by a long shot

 

That was in the post on a different thread, in the north was the comment. Let's call it the Hull and east yorks area.

 

I just looked it up and the UK national average wage is now £34,900, which seems much higher than I expected. Both my partner and I are earning around that and we don't have any wiggle room at all. We couldn't get by if one of us needed to stop working. I honestly don't know what you would have to do to afford housing, food, etc as a single person or someone earning less than the national average.

 

Plus on salaries it’s very much not a bell curve. You don’t need many city workers on £500K / £1M or whatever salaries to skew the average figure away from the many many more factory workers on £20K

 

But look at the relative housing costs

I've no idea how low paid workers survive in London

 

I’ve no idea how they survive anywhere

 

I did make a thread for this sort of stuff. I think it should all be transfered over there.

 

You might want to run that past Sydney to make sure.....

 

Mine and the missus together are that

 

Slightly off topic but also relevant

If you're top age group on National minimum wage and have a student loan you will have to be making repayments

 

Be better basing it off household income than a single wage

 

5 girlfriends has its benefits

 

No comment haha

 

Per week, month or year?

 

Can they all be classed as expenses?

 

If they give receipts....