thousand pounds a year it seems.
Hubby drew my attention to this (source)
Then he played around a bit with a site called minimumincome.org.uk which confirmed that our joint income does not allow us to have a decent standard of living. To do so we would need an income of £9593 EACH, or net income of £362.68 per week, even taking into account we have no rent or mortgage to pay.
Are you laughing yet?
I’m wetting myself, and no, that’s not tears of despair.
“Figures from the Joseph Rowntree Foundation show that each parent in a working couple with two children needs to earn £20,000 in order to fund a reasonable lifestyle, up from £13,900 in 2008.
A single person needs to earn £18,400, an increase from £13,400 a decade ago.”
Hubby and I are not a working couple with kids, so childcare doesn’t apply to us.
We own a modest car, and running it does not equate even close to £37 pw. The total for 2017 was £1675, £1130 of that being fuel because we were house hunting (this year to date £480) and the remaining £545 insurance/maintenance/MOT/Road Tax. Servicing did not apply as we’d bought the car new and the first three years services were included in the deal.
Let us also look at food.
“…….but a minimum food budget for a single person rose from £29 to £44 a week…..”
OK, I admit our food bill has increased. Last year it was just under £1800, around £34 pw FOR THE TWO OF US AND THE DOG.
Yes, I have the time and means (ie. own transport) to shop around for a bargain. However, because I’ve done so in the past, I already have preferred outlets for my groceries and plan my shopping accordingly. I also have the added bonus of no kids to control as I shop.
We have no concessions with our utility bills, opting for a fixed rate energy package until Oct 2019 at a cost of £60 pm, our water is £30 pm and our broadband deal (fixed until March 2019) has a budget of £30 pm. We aim for less than that by restricting our outgoing calls, preferring to use the mobile. That is a simple PAYG, text and calls only, with no contract.
Our local tax hammers us for £1300 a year, we have no TV, cable or otherwise, and neither drink or smoke.
But look at this:
“The report also found that the gap in living costs between older people and working people has closed, as pensioners spend more on smartphones, computers and new clothes.
A typical pensioner couple now spends more than their working-age counterparts on culture and socialising and alcoholic drinks, and almost as much as them on clothing and food. “
Hubby and I have to wait until 2021 and 2022 respectively for our State Pensions. I’ve already explained the mobile phone, we have five year old laptops and the clothes we wear every day are also at least five years old, but they are clean and presentable. In fact, we are on the lookout for new joggers for each of us, which we’ll pick up for around £6 a pair. We make do, not go for designer labels and the price tags that go with them.
As for spending our money on culture, socialising and alcoholic drinks, well, I’m still choking on that, especially when pubs want £2.50 for a pint of soda and lime!
I’m not knocking the report, as I have no idea what is meant by a decent standard of living upon which they have based their figures. All I can say is that if more people were to live within their means and not have such big ideas, grand expectations or expensive tastes, maybe an article like this wouldn’t appear so ludicrous to me and no doubt quite a few other people on limited incomes but living pretty well thank you very much.
Note: I was tempted to tag this post under Fiction as we are neither martyrs or liars.