Annual Income??

[jd_1984]

I realise that peoples circumstances, needs and wants and budgets are very different.

But, what do you judge as a good joint annual income these days, two adults both working full time?

[woofgang]

with children or without?

[Sqad]

Between £40,000--£60,000.......not too bad ......but not a good income.

Between £60,000- £100,000........satisfactory....not good ....but could be dangerous.

Between £100,000--£150,000....should be comfortable.....NOT rich but comfortable.

[Prudie]

Good to me means having enough left over each month to afford personal luxuries whether that be holidays, cars whatever once all necessary outgoings are paid.To be 'good' I'd pluck at the joint income of at least £80K pa

[jd_1984]

With a child and no pets.
A mortgage and 2 cars

[tamborine]

As the benefit cap is £500pw for couples, that is the accepted basic income, imo?

https://www.gov.uk/benefit-cap

[andres]

I think that you have already answered this question with your opening sentence.

[jd_1984]

Perhaps andres, but I can still ask peoples opinion?

[mikey4444]

Sqad....Between £100,000--£150,000....should be comfortable.....NOT rich but comfortable.

More than comfortable surely ? For the vast majority of people in Britain, that would be absolute fortune !

[Slapshot]

Yup, poor as well, just a lowly civil servant, we bring in about £50K between us before tax

[jd_1984]

I will be honest, I am asking because of my own circumstances.
We have both recently got promotions in work and our joint income is, not too bad. Debts are reasonably low, her car is on finance, small amount on credit card and of course the mortgage.
Yet I wonder where it all goes some months.
I know of couples on £40k joint income who live perfectly comfortable and I know of people with fantastic jobs who always complain of being broke.
We budget well and live more or less to our means. At 31 and 28 we feel its time to think about the future, where we want to be in the next 5, 10, 20 years...

[andres]

You can ask until you are blue in the face and you will never get a satisfactory answer to this question. If you are still solvent after paying all your outgoings count your blessings.

[Prudie]

I think it depends what you mean by good jd. Reasonably comfortable is not good in my book.

[mikey4444]

jd_1984...you still haven't told us what you earn !

But seriously, if you intend to have kids in the future, and you wonder where it all goes sometimes now, perhaps you should sit down and have a good think. Because kids eat money !

[jd_1984]

mikey - I suppose we have relative anonymity on here so I am happy to tell you - Between us our basic will be £78,000 but my OH has a bonus scheme that can earn her up to £250 a month extra.
On paper that seems to be a good income but we are starting to see the need to address our future as well as enjoying our "here and now". We are looking to start saving more strictly and live to a tighter budget. Gone are the care free "It will be fine lets just spend it" days.

[boxtops]

Most people I know are on joint incomes of about £60K maximum, and that's doing well. Some of the quotes on here are very ambitious and beyond my wildest dreams!

[mikey4444]

jd....a very sensible answer !

Try to make sure you use up for annual Cash ISA allowances, and reduce any debt you have to a minimum. Ask your Building Society how many years you can knock off the term of your Mortgage, by paying more each month...the best Mortgage is no Mortgage !

( I was a Financial Adviser for 12 years, up until 2008....retired from that rat race now thank God ! )