4 ms·
In the UK, we're actually below the median since my wife isn't working at the moment. OTOH, we own our house outright and don't have any crazy expensive habits
by phaemon 12y ago
In the UK, we're actually below the median since my wife isn't working at the moment.
OTOH, we own our house outright and don't have any crazy expensive habits or any debts, so I still currently save over 50% of my net income.
- lifeisstillgood 12y agoHow, who, what?! You earn under 21K and own your own house and still save 10k pa? I find myself guilty at my profligate unbudgeted ways but even so, I can't see how that's doable! Tell me more
- nextweek2 12y agoThis really underscores the value of capital wealth. Once you own your own home, actual living expenses are quite small. Personally I budget and save for big expenses like insurances, new car and holiday's. When you are forward planning like this you end up saving a lot of your income for those once a year items. The person you are replying to probably isn't investing all of that 10k, but he's putting it into a saving account on a regular basis knowing that in month 7 he'll be paying out 500. The interest and habit of saving probably means that a big chunk is going on long term savings.
- phaemon 12y agoHi, sorry I didn't notice your reply before. It's not as tough as it sounds once there's no rent or mortgage. You can count your mortgage as savings for budgeting purposes though. I work from home, so no travel expenses. My bills and council tax come to about 300 a month. About 300 a month for food. 300 a month spending money. That's 900 total and save the rest. Note that I'm below the median for two people, which is a little higher than the median for one, but it's still in the same ballpark.
- deleted 12y ago[deleted]