Question for

[CeriseNoire]

folks living in the UK.

Let say a young single person is earning a 14000 pounds (I don't have a pound symbol?) salary.

Are we talking budgeting very carefully or really struggling and living off saltines and hot water?

 

[trysail]

Let say a young single person is earning a 14000 pounds (I don't have a pound symbol?) salary.

Are we talking budgeting very carefully or really struggling and living off saltines and hot water?

Um..., er..., uh..., while I'm not resident in the U.K., at £1.00=$1.963,
£14,000 is worth roughly $27,482.

I, for one, wouldn't want to try that in London. Beyond that, there was a day (in ~1985) when £1.00 was roughly equal to $1.00. Of course, there was also a day (back when Brittania ruled- I hasten to add that it was before my time) when £1.00 bought $4.60.

 

[CeriseNoire]

Um..., er..., uh..., while I'm not resident in the U.K., at £1.00=$1.963,
£14,000 is worth roughly $27,482.

I, for one, wouldn't want to try that in London. Beyond that, there was a day (in ~1985) when £1.00 was roughly equal to $1.00. Of course, there was also a day (back when Brittania ruled- I hasten to add that it was before my day) when £1.00 bought $4.60.

Well, I knew the exchange rate already. That's the straightforward part. I was thinking more about the standard/cost of living.

I do have a tendency to ask random questions.

 

[starrkers]

I can contact my brother and ask him - he's got a son over in the UK right now - if you don't get a real UKer answering.

 

[English Lady]

14 grand a month or a week or a year or what?

14 grand a week is pretty luxiourious living.

14grand a month is still up there at the luxury end of things.

14k a year is, I think, a careful budgetting kind of wage but not a scrimp and save wage....least not here in the North of England, in London? I think it would be a veery poor income indeed.

 

[matriarch]

Like said above, depends entirely on where you're living. Any of the major cities, you're struggling. Go out in the sticks, and you might manage better.

The problem is, with rent at the moment, the highest they've ever been, and the cost of buying property still going up, and the cost of petrol over here.......around $12 (US) a gallon, so personal transport ain't cheap, but then, nor is public transport.

I actually earn less than that year............definitely careful budgeting - I never was any good at 'careful'.

 

[neonlyte]

£14k = £1,150 per month
Room in a shared house outskirts of London (20 miles from centre) = £500 per month
Share of house bills = £100 per month
Traveling (Public Transport if working in London) = £250 per month
Basic Food = £160 per month
Mobilephone = £30 per month

Leaves about £100 per month to 'enjoy' life.

You could cut the rent by approx £100 per month if living say 50 miles from London, but not in another major city.

 

[geronimo_appleby]

14 grand a month or a week or a year or what?

14 grand a week is pretty luxiourious living.

14grand a month is still up there at the luxury end of things.

14k a year is, I think, a careful budgetting kind of wage but not a scrimp and save wage....least not here in the North of England, in London? I think it would be a veery poor income indeed.

EL, you're spot on.

also, it depends on the circumstances of the character. lifestyle they lead, do they own a car? accomodation? is it rent, mortgage, flat, house?

i'm making this complcated, eh?

 

[geronimo_appleby]

£14k = £1,150 per month
Room in a shared house outskirts of London (20 miles from centre) = £500 per month
Share of house bills = £100 per month
Traveling (Public Transport if working in London) = £250 per month
Basic Food = £160 per month
Mobilephone = £30 per month

Leaves about £100 per month to 'enjoy' life.

You could cut the rent by approx £100 per month if living say 50 miles from London, but not in another major city.

living 50 miles outta London isn't going to help much. what ya save on rent -- minimal -- you're going to blow on transport.

 

[Vermilion]

Just to echo the others - that's tight budgeting in most places, but living off cut-price baked beans if it's London, Cambridge or Oxford.


Bear in mind that what? 20% of that goes in tax, too? so you'd lose nearly £300. That's almost a month's rent.

x
V

 

[kendo1]

The UK is one of the most expensive places in the world to live. But it depends on what part of the UK.
Here in Bonny Scotland it tends to be a bit cheaper. But not in Edinburgh or Aberdeen for example.
Generally, smaller towns are cheaper, as long as you are 20 to 50 miles from major cities - which puts you in the sea in most places. The UK is pretty small.

£20000 is a more realistic salary to be able to enjoy life without worrying too much about bills.

 

[Chantilyvamp]

Just to echo the others - that's tight budgeting in most places, but living off cut-price baked beans if it's London, Cambridge or Oxford.


Bear in mind that what? 20% of that goes in tax, too? so you'd lose nearly £300. That's almost a month's rent.

x
V

*noddles* I go with the careful budgeting as well. I'm in the sticks really but since its an area a lot of people retire to it means your going to scrape the barrel several months a year.

With rental houses you still have to pay council taxes each month. Some of our bills come in twice yearly. If your buying a house god help you cos the interest rates being offered are horrid and houses available for a salary of £14,000 are few and far between. Our mortgage jumped a £100 pounds extra a month (same loan amounts) just from the difference of the interest rates 18 months ago!

Throw in the car and wham there went the rest of the budget with gas prices, car taxes and insurance.

Food prices vary between areas of the country but shopping at lidle's or aldi's may help save part of the budget. Heck even the prices at tesco vary. I sort of know when there might be a good sale on some items I buy because for several months before the prices seem to go up on them. They are only not allowed to raise them 30 days before the sale so if they do it a couple of months before *shrugs*.

 

[CeriseNoire]

Thanks everyone. Those are exactly the types of answers I was looking for. I knew that in London, life is extra expensive, so I was wondering about other areas on average.
Thanks again. I knew I could count on you guys

 

[rachlou]

The factor to think about is whether that person has children. On an income of 14k per annum, if they're a single parent, they'll qualify for Tax credits which will boost their income. If they're in a relationship, they'll still qualify if their partner earns below a certain amount.

Just saying like.

 

[gauchecritic]

14 grand for a young single person living next door to me in the north is definitely not scrimping and saving. It may not be the lap of luxury but it's not eating beans out of a tin either.

Gas and electric can take up a large part but the biggest drain would be on beer and cigs (unless you drink in the WMC and know someone that goes abroad regularly)

If you're prepared to be a scruff (secure in your own appearance) like me (ask mat or neon) then 14 grand is luxury.

"My old dad used to say to me: Money doesn't buy you happ ~--~-

 

[oggbashan]

Even two people earning 14K each are going to struggle to buy a flat anywhere in London or the South East. Lenders for property purchase are now setting a maximum of 3.5 joint gross earnings = 98.5K.

Anywhere near me and grotty one bed flats start at 100K. I'm over 60 miles away from London. Any nearer to London and the prices are higher except in very dingy areas with poor transport.

Og

 

[trysail]

"My old dad used to say to me: Money doesn't buy you happ ~--~-

... and your old dad was absolutely, positively right!

Some of the unhappiest people I've ever met were rich folk. Some of 'em were even unhappy for the simple reason that they were rich.

People who think money is the solution to all problems are sadly deluded. Most of 'em haven't figured that out, yet..., but eventually, they will.

There IS a happy medium; there's a lot to be said for leading a balanced life.

"Feed your need, not your greed."​