Do you consider £5000pm take home pay a good salary?

Most people in U.K. would think they were in heaven with such a salary.
London sadly is a different country.

Yes, I think it’s a good salary even in London. My DH always commuted so we had to factor in travel costs and I would have been happy with that salary!

Not for London…..but as my income is reduced to £9000 PER YEAR…having installed my husband into his care home after looking after him ( disabled) for 25 years ….his alzheimers defeated me !
I would snatch at £5000 per month.

Casdon

rosie1959

mbody

Absolute fortune!!!

Not necessarily if you have a large mortgage and childcare costs

It really isn’t a fortune for professionally qualified workers. The working partner is supporting the other and a child. Most couples both work, so they earn this jointly if they are on average salaries, so are taxed at a lower rate. We aren’t comparing this with people living on a pension, but with other young couples with large mortgages who live in London.

Many couples, both in work, each taxed at a lower rate, or even one completely below personal allowance. However, this couple one works and earns to the 40% rate and the other is below the pa. They have a mortgage, they have young family costs, and it's London. Not a lot of money given circumstance.

Young families with two or more unfunded children in nursery will struggle on 5k a month. Also anyone who has recently bought a property will be stretched as will renters.

Everything is rising in price.

pascal30

when you remove the main cost of the mortgage they are left with over £800 per week. She is a stay at home mum. How can that possibly not be enough unless she aspires to being a Yummy Mummy with all the expenses involved with that..

Not just a mortgage but other household running costs rates energy water insurances travel costs ect can easily add up to another £1k to costs.
That leaves around £575 for everything else per week food clothes entertainment holidays ect may not be tight but they are not going to be rolling in money

sorry it wouldbe £600.. still reasonable

when you remove the main cost of the mortgage they are left with over £800 per week. She is a stay at home mum. How can that possibly not be enough unless she aspires to being a Yummy Mummy with all the expenses involved with that..

I think the OP has already said she thinks £5000 net pm earned by her sil is a lot of money. As do we all.

ever watch rich house, poor house ?

Yes yes and yes

I live on less than £2000. Not in London though.

I live in East Midlands, know of young couples in their early thirties with a combined take home pay of £5000 but usually the woman earn almost as much as the man.

If your daughter feels that her husband £90k gross pay is not enough to keep her in style in pricey London, then she has to go to work to make up that £1.5k difference.

Amalegra

This thread sadly shows the massive difference between rich and poor in this country. So many people earn minimum wage for the most important jobs, care for example. I am happy for those with large salaries, which many people, myself included, perceive £5000 pcm to be. But it is not right that others who also work and strive cannot hope to reach this level of remuneration.

Yes, it's food for thought Amelegra

And many of those people live in London.

Kandinsky

It’s my daughter’s salary ( well her husbands, she’s a stay at home mum ) & she said to be comfortable they need about 6500 a month. Plenty of her friends are on about £8000 pm but they both work full time.
Her mortgage is £1700pm. If she was paying for childcare that would be another £1500pm.
I personally think 5k a month is a great salary - but apparently not.

Ha! So it isn’t your daughter’s salary at all then?
Perhaps she should work if 5k a month isn’t enough for her needs 🙄

This thread sadly shows the massive difference between rich and poor in this country. So many people earn minimum wage for the most important jobs, care for example. I am happy for those with large salaries, which many people, myself included, perceive £5000 pcm to be. But it is not right that others who also work and strive cannot hope to reach this level of remuneration.

FlexibleFriend

I'm a Londoner and both my kids earn less than that but they think they're on good money. They both earn around £60k per annum. One is married and his wife also works, the other is still single. They're opinion is your Daughter doesn't know how well off she is and needs to give her head a wobble.

I agree! I live just outside London so know what rents and mortgages are like, but as others have said many people manage on much less. As a stay at home mum, many years ago I can remember our spending power dropped dramatically after having been on 2 salaries before the children arrived, but 'You cut your coat to suit the cloth'! If I'd gone back to work, childcare costs would have been high and I didn't have the ambition to want to put myself through the stress for a career that didn't excite me. I eventually got a small part time job at the weekend when my ex was able to have the children, to take the financial pressure off, but only went back to work properly when my youngest went to secondary school. By then, after a big gap, it wasn't a career but just a job! I was hit hard when I became a single mum and my standard of living is far worse now in retirement as my pensions are much less than if I'd returned to work, but I have no regrets. I loved my time at home with my children. I also know there are many far worse off than me! Sometimes we just need to count our blessing rather than look at what some people seem to have that we don't!

LizzieDrip. I quote from the government website www.nidirect.gov.uk/articles/understanding-pension-credit
^
Pension Credit tops up: your weekly income to £201.05 if you're single. your joint weekly income to £306.85 if you have a partner.^.

So the minimum annual income of a single pensioner should not be less than £10,454.60. So if you are not getting that, immediately cpontact the pension agency.

The one exception is if you have savings in excess of £10,000 that income will be reduced by £1 a week for every £500 in excess of £10,000. Here is a link to the Age UK Pension Credit Factsheet www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/pension-credit/ and the government document telling you what other benefits you could claim if you were on pension credit. www.gov.uk/pension-credit/what-youll-get

rosie1959

mbody

Absolute fortune!!!

Not necessarily if you have a large mortgage and childcare costs

It really isn’t a fortune for professionally qualified workers. The working partner is supporting the other and a child. Most couples both work, so they earn this jointly if they are on average salaries, so are taxed at a lower rate. We aren’t comparing this with people living on a pension, but with other young couples with large mortgages who live in London.

Harris57 Quite anumber of neighbour hoods in the North East where the average income is over £50,000 - that will include households with incomes in excess of £5,000 a month.

Most of those households will probably have two incomes coming in to make up that amount.

www.chroniclelive.co.uk/news/north-east-news/north-east-pay-gap-richest-23102310

I live in the north east and don’t know anyone that’s taking that home around here as a couple. I can only wish.

mbody

Absolute fortune!!!

Not necessarily if you have a large mortgage and childcare costs

LizzieDrip

Those of us managing on a state pension have to survive on not much more than that per YEAR, regardless of where we live.

I hope you are claiming any benefits you're entitled to LizzieDrip
That sounds impossible, however frugal you are.

Absolute fortune!!!

Those of us managing on a state pension have to survive on not much more than that per YEAR, regardless of where we live.