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Unhappy due to lack of money...

Discussion in 'General Discussion' started by GSWAudio, 25 Nov 2012.

  1. Tom_ed1987

    Wise Guy

    Joined: 1 Mar 2004

    Posts: 1,604

    Location: Warwickshire

    Got no money and you got no car? then you got no women; and there you are.

    This is not accurate.
     
  2. oldbag

    Sgarrista

    Joined: 14 Oct 2003

    Posts: 7,844

    I remember in the 90s where a 60k salary in London would give you decent buying power, but these days 60k in London is pretty average due to costs of living. The next generation will be alot worse off.
     
  3. krooton

    Caporegime

    Joined: 9 May 2004

    Posts: 26,908

    Location: Leafy outskirts of London

    Renting is a right bitch, mortgage for a 2.5 year old one bed flat in Morden is only £580 a month. :(
     
  4. Scam

    Capodecina

    Joined: 20 Oct 2002

    Posts: 14,183

    Location: London

    We already are. If they don't sort out living costs soon then the knock on effect is going to be hideous. How many of us in our twenties can afford to have children? Why have kids when you could get kicked out of your flat with two months notice? As a 27yr old I feel like I'm still waiting to grow up. I'm struggling to pay someone elses mortgage by renting, I don't own a car, kids are out of the question and I can barely afford to do the simple things I always thought was a given when you started working!
     
  5. oldbag

    Sgarrista

    Joined: 14 Oct 2003

    Posts: 7,844

    Tell me about it, the other day I bought 2 ready meals and some milk and it cost me £9.00, when i did a weekly shop, it cost me £50 and after examining what I purchased when I got home, it was hardly anything (and that was no alcohol or any other 'luxury' item).
     
  6. krooton

    Caporegime

    Joined: 9 May 2004

    Posts: 26,908

    Location: Leafy outskirts of London

    Weird, weekly shop for 2 of us (in London) averages £90, and that covers all meals and toiletries.
     
  7. RickST

    Wise Guy

    Joined: 5 Feb 2008

    Posts: 1,261

    If you want to live in London it has to be a flat share until you have a partner. trying to ren on your own is stupid, pointless and very expensive.

    there are lots of cheaper areas to live in London generally south *shudder* or east *party*

    Who ever said you need 50k is quite frankly lying. I am on less than that have a huge room (zone 1), eat out most nights, party Thursday - Saturday without any issue. granted I don't have any savings but that is a choice i make rather than a limitation of funds.
     
  8. -Ad-

    Capodecina

    Joined: 4 Nov 2004

    Posts: 13,807

    Location: Aberdeen

    You need to re-assess what your buying, and stop buying stupid ready meals; they look crap, taste crap, are full of crap and are crap vfm!

    I'm eating purely healthy food and get plenty for £90. Look at buying frozen chicken breasts and stock up on such things when they are on offer!

    www.mysupermarket.com A great site for offers and comparisons.
     
  9. Tom_ed1987

    Wise Guy

    Joined: 1 Mar 2004

    Posts: 1,604

    Location: Warwickshire

    But you do need 50k if you want to live on your own? In contrast you can comfortably rent your own place, run a decent car and live on 30k gross in the majority of the UK.
     
  10. Tefal

    Capo Crimine

    Joined: 30 Jun 2007

    Posts: 66,594

    Location: Wales

    sell stuff you make?
     
  11. RickST

    Wise Guy

    Joined: 5 Feb 2008

    Posts: 1,261

    Sure I suppose its down to what you value. There is no place quite like London. The house sharing thing is a positive in London, it brings people together make friends etc. I can't understand why anyone would want to live on their own until they have a partner to share a place with.

    If you are living in London because that's where your job is then its likely you won't enjoy it. London is a place to experience and then potentially leave when you don't have the energy for it anymore and want to relax.
     
  12. JonJ678

    Capodecina

    Joined: 22 Dec 2008

    Posts: 10,371

    Location: England

    Look into oil and gas with a willingness to travel. Schlumberger are starting a friend of mine on the happy side of 40 once he graduates.
     
  13. Veco

    Gangster

    Joined: 16 Apr 2012

    Posts: 265

    Location: London

    I work as an electrical engineer in oil & gas in London.

    The grad scheme pay rises will quickly get to a very nice figure, but the starting salary is definitely not 40k here! Where I currently am the opportunities to travel come after a few years. That should be good.
     
  14. JonJ678

    Capodecina

    Joined: 22 Dec 2008

    Posts: 10,371

    Location: England

    That sounds plausible. I think it's necessary to pay people more if shipping them around the globe, though there may be other reasons why working outside of England pays better. He's also very competent which presumably helps.

    You're lucky to be in that field Veco, the rest of the engineers don't do quite so well. Average starting salary close to 25, bigger firms offering roughly 30. Some mechanical consultants are close to it - I think Newton are offering 38k + 4k joining bonus at present.
     
  15. oldbag

    Sgarrista

    Joined: 14 Oct 2003

    Posts: 7,844

    The way we are taxed needs addressing in this country. Getting part taxed at 40% for 45k plus is crazy as these days that's not a big salary. It should be re-addressed so 45% cuts in higher (70-80k). We'd then spend more and have a better economy.
     
  16. Veco

    Gangster

    Joined: 16 Apr 2012

    Posts: 265

    Location: London

    Lucky until a better alternative to oil & gas is found/it runs out. But I'd not be bitter about that, an alternative would be nice.
     
  17. ci_newman

    Sgarrista

    Joined: 24 Feb 2004

    Posts: 9,531

    Location: Hook, Hants

    You'll be happy to know that the higher rate tax band starts at £35k then, not £45k :p

    http://www.hmrc.gov.uk/rates/it.htm

    At any rate, it's only your earnings above that threshold that are taxed the higher rate and considering it is well above the average earnings in the UK I see no direct problem with it (of course I would love to pay less tax though :p).
     
  18. Veco

    Gangster

    Joined: 16 Apr 2012

    Posts: 265

    Location: London

    He was including the income tax allowance then rounding up.

    The figure is £8105 + £34370 = £42475. If you put a pound over that in a tax calculator that breakdown will shows 40p in the upper rate.

    Personally I don't think it's too much, when you're earning that much you should be comfortable, with an aging population and tones of government debt less tax isn't going to fix anything, even if no one likes it.
     
  19. -Ad-

    Capodecina

    Joined: 4 Nov 2004

    Posts: 13,807

    Location: Aberdeen

    Not comfortable earing that much, cannot just make a blanket statement like that. You of all people should know this being in London.

    I'd need at least £60k to be able to live in London properly, but that's not even considering a mortgage!
     
  20. ci_newman

    Sgarrista

    Joined: 24 Feb 2004

    Posts: 9,531

    Location: Hook, Hants

    I agree for those in our generation where we are only just getting on the housing market, but for the majority of the population where either they have a small mortgage, no mortgage or renting (outside of London) then that tax bracket is quite reasonable.