Brain recalibration - a cost of living/modern life thread
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Which can easily be covered by the £260 a day provided it isn't a castle.
Sometimes I feel I need to consult a lawyer prior to posting even the most simple things.
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Thanks for proving my point.
The hypothetical house owner has little disposable income. They have disposable income once they sell the house.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
It's a free market, and free choice. Just don't moan about the choices made.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
100k in London is not a very high salary, 100k in Manchester is… simples
left the forum March 20230 -
I guess you need more income to pay down your mortgage.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
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Sorry, didn't mean that to sound quite so 'well ackshully'. I just see so many buildings that have obviously not had a penny spent on them in 30 years and the owners are then outraged at how much all the basic maintenance eats into their budget for their dream kitchen extension.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Isn't the comment more that a "6 figure salary" has been a halo salary for yonks, but actually doesn't go as far as one might think a halo salary should go.
A 6 figure salary won't actually go that far in the nicer parts of Manchester either, if you're a sole earner and trying to pay private school fees and didn't buy early enough...
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Here's a thought on modern living.
Throughout my entire life I can count on my fingers the amount of people I know who went to private schools.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Yes, I agree. I posted in another thread that the annual maintenance cost of property ownership is high and that those on state pensions struggle to afford it. Those on £100k without private school fees, rent and a mortgage do not have such struggles.
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2.95 for the same bun in a local cafe’ this morning… Warwickshire
left the forum March 20230 -
Maybe you’ll enjoy life more if you stop the dick measuring with friends and neighbours and just live the life you can afford for your own particular circumstances? I can’t recall ever having discussed relative earnings with my closest friends let alone the parents of kids mine went to school with. I know some of them had fancy houses that I couldn’t get close to owning but so be it, ours is adequate for our needs.
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At the risk of stating the bleeding obvious, wealth usually takes time to accumulate - get the income bit right and the wealth should follow. Which also explains why there is a concentration of wealth in your 'target' age group, which you will one day join.
Sure, there are exceptions like your mate who inherited, but that can't exactly be called lucky unless it was a distant relative or one that you really don't like who had you in their will.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Someone once told me that one way to be happy with your own wealth is to have friends who are poorer than you. So if these things really bother people, they just need to choose their friends carefully.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
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I'm just trying to illustrate the point. Income is obviously important, but your cost of living is actually more important and it is so dependent on when you were able to buy a home (if at all) and in that context, someone on £100k is not necessarily going to feel wealthy.
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I went to a state school and never encountered a single state school student when I was at Uni (Bath) in the late 80s.
My eldest is experiencing the same at Durham Uni.
Or maybe state school kids pretend to have gone to private school when at certain Unis.
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It absolutely wasn't in my case!
Wilier Izoard XP0 -
I'm always mystified as to how folk afford school fees. It's not something that Mrs W&G and I could easily have stretched to, despite a household income that would suggest we should be able to.
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More than half (63 per cent) of all mortgaged first-time buyers are expected to receive assistance from family to secure their purchase this year, highlighting the importance of this support in helping buyers get onto the housing ladder for the first time.
No neither did I. Paid it all myself through mine and my wife's savings.
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You should go for a Tesco "Meal Deal". There are few things more satisfying than seeing the price go down as you scan the third item as the discount is applied. Though getting a further 50p off just for scanning a Clubcard is good, too.
I went though a phase of buying the most expensive individual items, just to maximise the discount, even if I preferred something cheaper!
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If you have an income of £100k or more and you do not have significant amounts of disposable income then you are making a personal choice to maintain higher living costs. We keep going around the houses with this, you can choose to live in £250k house with a relatively small mortgage and have more money, or you can choose to live in a £750k house with a massive mortgage and less money in your pocket. Either way the responsibility for that choice lies squarely with the person making it.
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aaaargh, where do you think people on £100k are having to live?
*why are the houses expensive* because that's where people who can afford them want to live.
Where on earth are you finding £250k houses near a job that pays £100k if you're not a doctor or a local lawyer?
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Assistance from family isn't the same as inheritance though, could be anything from parents giving a gift of a few grand towards a deposit to Aunty's Mildred leaving them enough in her will to buy a country pile. I suspect weighted towards the former
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Ah but when you went to uni only 10% went. You'd imagine that much more than 10% of private school students went so much less than 10% went from state schools. Maybe that was only up the the early 80s though. 🤔
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
I was approached about a job that wasn’t quite £100k (they were talking £85k plus benefits) and could have easily done it from my current home as it was Bristol based where I’ve worked for probably half my career. Places I’ve worked in the past the Directors will have been on £100k plus, I know one moved on for a 6 figure plus salary about 8 years ago. They may be few and far between but even in lack of ambition land they exist.
There must be loads of examples in other sectors in places like Bristol that are a shorter commute than you do from areas where housing is less than £250k.
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That's a fair point. If I'd known about the uneven distribution of education back then I'd probably have been worried about not fitting in. As it was, with zero emotional intelligence, I found I fitted in quite well with the private school set!
Tbh, at Bath, bog-standard private education (i.e. going to local fee-paying Grammar School etc.) was nothing special. To be considered to have gone to a "good school", it was necessary to have boarded, and you only really got kudos for having gone to a public school.
I tried explaining what my state sector "community college" was once. Didn't make any progress. It was like speaking an alien language.
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Have you considered the vicious circle that is wages and property prices in certain areas?
Wages need to be high to attract/retain people in an area where property prices are high. Property prices rise as people have high wages...
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
I genuinely have no idea of the schools that my cohort at uni went to (82-85). FWIW, I was the last year of Direct Grant, and was deemed worthy of a full maintenance grant for uni.
I do wonder if part of RC's mindset about earnings results from his line of work and the US attitude of "What job do you do and how much do you earn?" as standard small-talk instead of the weather.
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