How much do you need to earn these days for decent life???

[life on mars]

£40k per person in Cardiff would give a decent life as long as you live within your means and don't attempt to become something your not or over stretch by living in high end properties, driving high end cars ,spoiling your children , going on Dubai type holidays, all funded on the credit card .

Life it's about building blocks, in my experience todays modern young families ,with two earners and kids, are trying to run before they can walk ,because they have property collateral behind them it entices way too much credit for inexperienced youngsters .

[blue matt]

£40k per person in Cardiff would give a decent life as long as you live within your means and don't attempt to become something your not or over stretch by living in high end properties, driving high end cars ,spoiling your children , going on Dubai type holidays, all funded on the credit card .

Life it's about building blocks, in my experience todays modern young families ,with two earners and kids, are trying to run before they can walk ,because they have property collateral behind them it entices way too much credit for inexperienced youngsters .

lets be honest, 10 - 15 years ago money was being thrown around like confetti, you have a child and earn under 70 K, here you go pal, here is 400 quid a month family tax credit , the policeman next door to me had 2 children ( 1 in school ) and he was getting 390 quid from family tax credit at one point, crazy, just crazy, BUT he loved it, why wouldnt he ? ?

[qccfc]

lets be honest, 10 - 15 years ago money was being thrown around like confetti, you have a child and earn under 70 K, here you go pal, here is 400 quid a month family tax credit , the policeman next door to me had 2 children ( 1 in school ) and he was getting 390 quid from family tax credit at one point, crazy, just crazy, BUT he loved it, why wouldnt he ? ?

The cut off point for family tax credits with 2 children is £32k, and it tapers from that point at around £400 per £1000 per anum.

So to be getting £400 a month his family income needed to be well below £20k or to be having super high nursery costs.

[Organ Morgan.]

The British state owes £1,730 billion and the average UK household owes £13,000 (which excludes mortgage payments). Britons, politicians and people, are addicted to debt. The next world financial crisis will make the 2008 one look like a minor blip.

[xsnaggle]

The British state owes £1,730 billion and the average UK household owes £13,000 (which excludes mortgage payments). Britons, politicians and people, are addicted to debt. The next world financial crisis will make the 2008 one look like a minor blip.

------ allegedly!!!!

[Nick]

The British state owes £1,730 billion and the average UK household owes £13,000 (which excludes mortgage payments). Britons, politicians and people, are addicted to debt. The next world financial crisis will make the 2008 one look like a minor blip.

And for some unfashionable reason, it appears that you can't wait and indeed relish the onset of a world financial crisis. Do you mind if I ask why?

[Organ Morgan.]

The sooner it happens the easier it'll be to recover. The longer it's dragged out then the more difficult and prolonged it'll be.

[Kris]

Well, well, well there's a surprise. Phil appears then so does Kris. Yawn.

"Two people disagree with me, therefore they must be the same person"
It's a cute trait on this forum that I've never come across on other forums.

[Kris]

The sooner it happens the easier it'll be to recover. The longer it's dragged out then the more difficult and prolonged it'll be.

It's difficult and prolonged NOW!

Our economy is built on debt, it's why we reward people with low interest rates to buy iPads, new kitchens and cars. Savers are penalised with inflation.

The next crash will be the same as the last crash, one domino will set the others falling. I'm not convinced it will happen soon though. 2008 was on the cards as early as 2005.

[Kris]

And for some unfashionable reason, it appears that you can't wait and indeed relish the onset of a world financial crisis. Do you mind if I ask why?

The next financial crisis would see massive unemployment levels that may never recover due to automation. I think he's just craving the company.

[CardiffIrish2]

I think no matter what you earn you spend it.
Sadly a few years ago I thought having a consolidation loan on my house to consolidate debt was a good idea ( ****ing first plus !!) and it's Cost me a shit load in interest .

Learnt my lesson, got a job and a business interest and paid off two CCJS in last year.

I need to earn 45k a year to have a reasonably comfortable
Life with that debt hanging over me.

[qccfc]

During the financial crash, i had 2 kids and i had my hours cut in work down to 3 days a week. in effect i lost 40% of my weekly wage. It was tough. What i did have however was time my children were young and we could spend our time in parks, and doing things that were free, even though life was tough, i was lucky enough to manage to keep food on the table and a roof over our heads. However life was still decent. If we wanted a holiday it was UK based, maybe camping, its all life experience and children just want to do things as a family anyway.

In the past 5 years things have recovered. The work has picked up and there is a little bit more money there. However i think people can have a decent life on a lot less money than people think, and its amazing how much money you waste.

[Jimmy the Jock]

During the financial crash, i had 2 kids and i had my hours cut in work down to 3 days a week. in effect i lost 40% of my weekly wage. It was tough. What i did have however was time my children were young and we could spend our time in parks, and doing things that were free, even though life was tough, i was lucky enough to manage to keep food on the table and a roof over our heads. However life was still decent. If we wanted a holiday it was UK based, maybe camping, its all life experience and children just want to do things as a family anyway.

In the past 5 years things have recovered. The work has picked up and there is a little bit more money there. However i think people can have a decent life on a lot less money than people think, and its amazing how much money you waste.

That would have been more or less my contribution to this thread.
My business suffered massively during the financial crash, it only just survived. 3 holiday abroad a year became camping weekends. The camping weekends were brilliant some of the best times of our lives as a family .
I have tried to teach my children that whilst you need money to survive there is much more to life than money and possessions.

On the subject of debt , I hope when I pop my clogs I am into the banks for plenty and they cant get the money from my estate
Much better than leaving stacks in a savings account . As the expression goes" you cant take it with you "

[goats]

During the financial crash, i had 2 kids and i had my hours cut in work down to 3 days a week. in effect i lost 40% of my weekly wage. It was tough. What i did have however was time my children were young and we could spend our time in parks, and doing things that were free, even though life was tough, i was lucky enough to manage to keep food on the table and a roof over our heads. However life was still decent. If we wanted a holiday it was UK based, maybe camping, its all life experience and children just want to do things as a family anyway.

In the past 5 years things have recovered. The work has picked up and there is a little bit more money there. However i think people can have a decent life on a lot less money than people think, and its amazing how much money you waste.

Almost a blessing in disguise maybe? Precious time with the kids when they are little and like you say you got by ok. I know plenty who didn't want to go full time again after kids, just trying to balance out a work life balance on a 3 to 4 day week. My original question wasn't quite worded right, as ever, it was more to hear what posters feel they need to earn to live, everyone has different needs and wants....
Apparently, most couples argue about cash so it's obviously a big deal and can impact other parts of your life like health and mental issues. We are led to believe we NEED certain things in life or get used to them, then can't live without them.

[Barry Dragon]

Decent life? Is that happy one? Then money doesnt have much to do with that. I know people earning £60k that are not happy, spend loads of money spoiling their kids. I know families earning under 30k with 3k kids that are very happy, go out to the park do things without spending money.

A decent life is down to the individual. some may require a nice car and sky to have a "decent life". Others wont.

£25k income is enough to not have to worry about money. Once you earn that much then your time, whether its family time or mates should become a bigger priority than trying to get that £60k wage. Business has been good recently and I am earning more, but starting to lose time with my girl, so had to hire someone in to help, to make sure I am not giving up family time to make a few bob.