Could you make a good living on 20000 pounds per year?

I do ok on £20k a year, but no way can I afford a mortgage.  I've managed to clear the stupid debts I amounted but I'd need to house share for sure.

It would be fine if I didn't get taxed.

mystictal


I imagine(based on nothing other than the dramatic job title) that the position would take up a lot of his time?

20k for a part-time role if it's something he enjoys sounds decent.

He's probably is financially secure as well.

I dont think he has any assets, and spends money faster than I masturbate.

RACK


I do ok on £20k a year, but no way can I afford a mortgage.  I've managed to clear the stupid debts I amounted but I'd need to house share for sure.

It would be fine if I didn't get taxed.

That is one of the reasons I ask really.

I tried in london on 23k and it wasn't pretty. 30k + is where things start to become comfortable imo.

After tax how much is £20,000 per year, about £1,200 per month ?

after bills, living costs, how much do you all  have left per month??

£1,310.35 according to the salary calculator

H20


After tax how much is £20,000 per year, about £1,200 per month ?

something like that

This depends on where you live and your circumstances. For me, yes, no problem what so ever! Even with renting, you can get an apartment for £400 a month, extra bills, food, insurance car etc and socialising would be do able. If you had a partner who also works to split the bills then it would be a breeze.

Skrewdriver


£1,310.35 according to the salary calculator

Cheers mate ( and you too Drago)
 
Mine would work out after all bills at about £400 or just over per month as `pocket money) so £100 a week, yeah I`d p1ss it and probably save a couple of hundred at least lol.

Depends really, partly on location and lifestyle, but moreso on what you are used to.

Someone earning £12k a year going to £20k would find it obviously very easy!

however the problem with money is when you are USED to a certain amount of money coming in, it is very VERY hard to take a pay cut and you don't realise how quickly and easily you shift money.

Dropping from £70k to £20k IMHO is madness especially if said person has no assets or savings etc.  But then again if I was earning £70k I'd have invested heavily and sensibly in assets.

mcl

H20


After tax how much is £20,000 per year, about £1,200 per month ?

LOL you can tell I've never had a proper job, I was totally considering it from a tax-free point of view.
 
Though I could still just about do the things I said previously.

Red Man


This depends on where you live and your circumstances. For me, yes, no problem what so ever! Even with renting, you can get an apartment for £400 a month, extra bills, food, insurance car etc and socialising would be do able. If you had a partner who also works to split the bills then it would be a breeze.

For the rest of your life?

It comes down to how long you've been earning that sort of money for.  A good friend of my dad his son earns around 700k a year as a trader, there is no way that he could live on 200k at the moment.  He has no pension, no savings, and at most could put his hands on about £50k if he had to.
Personlly I would struggle on 20k because of an increase on the mortgage and personal loan. 

Integra

Red Man


This depends on where you live and your circumstances. For me, yes, no problem what so ever! Even with renting, you can get an apartment for £400 a month, extra bills, food, insurance car etc and socialising would be do able. If you had a partner who also works to split the bills then it would be a breeze.

For the rest of your life?

With inflation and presuming i would be alone for the rest of my life yes. Id then get a mortgage and lower my outgoings, aswell as a second income from my partner... No danger mate, easy life! Just wouldnt have any flash cars

How would you get a mortgage on 20000 pounds? I would imagine that to be very difficult, near impossible unless you buy a dump on a council estate in the middle of a former mining town.

I couldn't live anywhere near the quality of life that Im used to.

I need at least £300-£400 a week disposable after all bills have been paid

Unless you had a large deposit, I would say impossible.  When we bought our first place I was earning about 17k and the missus similar, our mortgage was about £80k.  It's now about £100k

Integra


How would you get a mortgage on 20000 pounds? I would imagine that to be very difficult, near impossible unless you buy a dump on a council estate in the middle of a former mining town.

irishbeast


I couldn't live anywhere near the quality of life that Im used to.

I need at least £300-£400 a week disposable after all bills have been paid

Fukcing hell mate?????????!!!!!!!!!!!!!
I NEED YOUR JOB!!!!!!!!!!!!

thats what i make. umm live with you parents..cycle..run to work. look after pennies pounds look after themselves. lol.

Just advice not how i live.