TelBoy

But then all your savings are taxed at 40%, assuming you're nice and honest with the lovely taxman ( ), so the overall cost can be higher than just your income over the threshold...

Mitchy260

1st £31500 is at normal rate which i think is around 22%. Anything earned there after is taxed at 40%.

So when you hear footballers on £100000 a week. It makes me smile how near £40000 of that goes to the taxman. Greedy bas**rds

john banks

Not all your savings are taxed at 40%, depends on what tax (in)efficient wrapper they are in.

TaviaRS

Firemen?

(Just for Pete)

Dream Weaver

Can never understand people saying "I couldnt survive on less than £20k a year" What sort of lifestyles do you lead?

In the last 10 years I have earned as little as £8k a year and much much more than that, but I always keep things simple. DOnt have a big mortgage yet, dont have flash cars, just the basics.

I have a very good lifestyle now, but could manage on £10k a year if needs be.

Richard130875

The more you earn the more you spend. I work on commission plus a good basic but you cannot guarantee what one month could be like to the next. A good month could be £15k a bad one £2k.

I just follow my wifes motto. If you got it spend it. If you aint you can't.

Dream Weaver

Not if you're careful

I'm earning 5 times more now than I was 2 years ago, yet my spend levels haven't gone up that much. I spend a bit more on games, clothes and car mods but try not to go mad. It is different in self employment though as I need to keep money to one side for investment, slow periods etc.

I also dont want to get caught out like the folk fast boke mentioned who are in debt up to their eyeballs. 5 years back I owed about £16k in loans, cards etc, today I owe £0 and my monthly spend is about 25% of my income.

Im no thrift, I just dont go mental "just because I can".

But my point was I could survive on £10k a year if required.

Cold Turkey

EBT ?

salsa-king

DW.... Tesco 'Value' bread etc? lol

Dream Weaver

Have you seen the size of me

When it comes to food, only quality will do

I have more disposable income than i've had in my life at the moment, but it seems these days whilst i've actually got some savings i'm loathe to spend it.

salsa-king

duck+bottom=tight?

pslewis

I wish i had to spend 25% of my income, I struggle to get rid of 5% Its pathetic! I MUST learn to SPEND!!!

Pete

SyHightower

iTrader: (1)

what the frig are your driving a scooby for? not having a go or owt but you say your earn loads and spend nowt.... get a porker or exotic lol

Si

davyboy

What exactly is monthly spend?

Montly bills etc/loans/mortgage etc?

scobub

Deffo fable merchant, hence why no one has met him

Dream Weaver

Monthly spend is everything - mortgage, bills, food, car, mods, games, clothes, ciggies, holidays, beer etc etc

King Eric

A lad cut my front lawn yesterday.....took him and another lad around 10 minutes to cut the grass, trim around the fences and blow away the grass. Paid him £10.00

Had a chat about what they earn...

He said that on a good day they can do around 25 lawns of varying sizes and costs and only work from 10.00am until around 18.00 to avoid waking people up!

Their tools:-A van (Merc Sprinter 54 reg!) and two petrol powered strimmers. They use a big sit down mower (which they rent and tow to gardens if needs be!)

Smart clothes-tailored shirts with logos and combat type trousers with good boots and proper eye protection glasses etc etc.

Two lads 2 years fresh from college. One of them was a green keeper assistant at a local good quality golf course for a year during his final year of college.

If you based their gross salary on doing cuts like my lawn every day it equates to around £250.00 per day. They work a 6 day week...so they earn around £1500.00 per week gross. And this is based on them only earning £10.00 a lawn.

Between them they could gross around £6000.00 per month. £3000.00 each before tax.

Now that is a pretty cushdy little earner if you ask me.

davyboy

...not going to earn much in the winter though........

My monthly spend is 100% of my salary. If there is any left over I spend it.

In fact this month I bought a digital SLR.

wez_sti

you poor thing

i'm spending about £150% of my monthly income at the mo,i know what situation i'd rather be in.

havent bought ANYTHING for myself in about 6 months other than essentials and have done every cr@p job that comes along just for a bit of dosh. had enough really, life sucks @ss!

the moose

My father has never recovered after my mother died (very young - I'm now older than my mother ever was), and has never bothered with other relationships, mainly out of a feeling of guilt.

For a good while it made him a rather unpleasant, crabby, petulant person.

So less of the guilt, Mr T-S!

Dream Weaver

Most people have been in this situation at some point. Back in 97/98 I was commuting from Burnley to Runcorn every day, 150 miles round trip. I was earning £950 a month after tax, house costs/mortgage were £600 a month and fuel/car costs were £350 a month, so for 12 months I literally had no money ever. Luckily i was made redundant and it was the best day ever