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Are You Single And In A 14k A Year Job?...

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...well many millions of people in this country are and by my calculations they are now officially insolvent. To live even the most modest existence would require that they fall back on borrowing.

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...well many millions of people in this country are and by my calculations they are now officially insolvent. To live even the most modest existence would require that they fall back on borrowing.

I agree £14k will not let you live like a king, but there are ways that can save money and make your money go further without feeling out done by...don't borrow, it will make you feel poorer not richer. ;)

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I agree £14k will not let you live like a king, but there are ways that can save money and make your money go further without feeling out done by...don't borrow, it will make you feel poorer not richer. ;)

You've missed the point. We are not at a point where a single person on this income literally cannot afford even a basic existence.

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You've missed the point. We are not at a point where a single person on this income literally cannot afford even a basic existence.

What is a basic existence?...if you don't know i can always show you...then you will really feel like a king on £14k. :ph34r:

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You've missed the point. We are not at a point where a single person on this income literally cannot afford even a basic existence.

Quite. Hundreds of thousands of students live on a lot less, for a start. It's only impossible if you are living in an expensive city and must have your own one-bed flat, and / or massive commuting costs.

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...well many millions of people in this country are and by my calculations they are now officially insolvent. To live even the most modest existence would require that they fall back on borrowing.

Nonsense, even before the part suggesting that borrowing would help :-)

It is perfectly possible to live on 900-odd pounds a month, though they would obviously need to share accommodation.

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Nonsense, even before the part suggesting that borrowing would help :-)

It is perfectly possible to live on 900-odd pounds a month, though they would obviously need to share accommodation.

Not everyone is in a position to share accommodation.

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This is the sort of money they pay new graduates. They have loans to pay off as well as live and the loans are compounding up at inflation rate. Those of us who remember 1968 wonder why they are not out on the streets revolting at the deal they have been given.

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Not everyone is in a position to share accommodation.

if your single why not? single people are in exactly the right position to live in shared accomodation! Also I know lots of couples who live in shared accomodation, i even know a family who have lived in shared accomodation. 14k is possible, but you going to be renting a room.... Aslo as I understand it if you have kids when yourl iving in shared accomodation you will be fast tracked into council accomodation..

Not sharing when your single seems like a waste of space.... Im 30, in a long term relationship earn ALOT more than 14k and Im still sharing because it enables be to save faster

Edited by moosetea

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...well many millions of people in this country are and by my calculations they are now officially insolvent. To live even the most modest existence would require that they fall back on borrowing.

I think your calculations are wrong.

You may not be able to afford a house, but renting a room, sharing or possibly even renting your own one bed flat is possible on that much. Knowing how to cook can save you a fortune on food, buying a couple of jumpers can reduce your fuel bills.

I'm not saying you'll live lavishly or be able to have many nights out each month, but it is perfectly possible.

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think it depends on where you live and your 'standards' as has been mentioned.

Not everyone is in a position to share accommodation.

you seem to be a little hypocritical with that post. if you are single, then you're in whatever position you put yourself in.

14k isn't a lot, granted, but i've survived (for around 4 months) on 17k with rent at around 45% of take home while the missus was out of work. so that's feeding two people and paying for two people on everything. not easy but achievable, certainly never even thought about taking on debt.

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There's a huge difference in housing costs around the country too. Around the Midlands, you can rent a house for less than £500 per month, a flat for less than £400. Not urban nightmare places either. They're even cheaper! ;)

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I survived from the age of about 20 to 27 in academia (ie next to no income), ended up with 15k of student loan, and owed parents around 2k. This is in the south-east within 30 miles of london. Being up north would have been a piece of cake (I did that for a year too). I'm now 29 and lucky enough to earn a stupid amount I in no way deserve, but I still live in exactly the same way as I used to, with the exception that I now only share a flat with me lady rather than a bunch of strangers.

With the occasional unnecessary exception :rolleyes:, I still actually budget for an income even less than 14k. I do it to protect my future and because it really ain't very hard at *all* when spending just isn't a habit. Spending money doesn't make you happy, but financial security on the other hand - winner every time.

One significant thing that makes it "possible" is not spending any amount of money every weekend on drinks/bars/cafes/restaurants and general consumer tat as our culture generally dictates we "should".

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I lived in a shared house when I was on that money - everyone else in the same situation did as well - it was just normal - single 18-20,21,22 each living in their own place seemed a little silly.

I quite enjoyed it in fact - so long as you get on with the people you are sharing with. I shared until I was 25, despite earning more than double that by then. It gave me a chance to save as my pay increased as the rent was only £325/month each.

If people 'pair off' then they get a place of their own, but then they're no longer single.

Edited by impatient_mug

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I think your calculations are wrong.

You may not be able to afford a house, but renting a room, sharing or possibly even renting your own one bed flat is possible on that much. Knowing how to cook can save you a fortune on food, buying a couple of jumpers can reduce your fuel bills.

I'm not saying you'll live lavishly or be able to have many nights out each month, but it is perfectly possible.

Great dea...we can all share a room and live like slaves.

You wanna put a gag on our mouths too?

Lets all 'exist'.

You start.

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i figure you can live on £1000 a year if you really had too. but that would involve a tent... and a lot of rice.

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Great dea...we can all share a room and live like slaves.

You wanna put a gag on our mouths too?

Lets all 'exist'.

You start.

very valid point bob.

i think it's more a 'how you start out in life' issue - some will roomshare, others rent their own falt/hosue, others live with parents saving, others live with parents spending.

seems a shame really as practically everyone in the western world would prefer to have their leisure years in their 20's/30's (rather than worrying about life/ambition/goals/relationships/travel/stature etc.), not their 60's/70's, the body has taken far too much wear and tear by then.

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...well many millions of people in this country are and by my calculations they are now officially insolvent. To live even the most modest existence would require that they fall back on borrowing.

What planet are you on?

There's plenty of families surviving OK on 14k a year!

But for a single person;

14k is around a grand a month take-home.

Rent of room in shared house - £250 pm

Share of bills - £25 pm

Food - £150 pm

Bus fares etc - £100 pm

Clothes at Primark - £25 pm

Pub money - £450 pm

What's the problem?

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In reality for most parts of the country if you are single you need

£350 for a room inc council tax and gas/electric/ect

£150 for food

£50 for petrol (depends on how far you drive and if you can go to work without a car ect, but this is what I spend)

£100 for car insurance, phone, car tax

£100 for other (cloths and shoes don't last for ever, medicine isn't free, ect)

£9000pa or about £11k before tax.

But this is near enough poverty as you would have zero savings, if the car broke down you would be fooked. If you required dental work you would be fooked, if you lost your job you would be fooked, if you had unforseen costs you would be fooked.

IMO 13-14k is a realistic minimum survival wage.

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Guest DissipatedYouthIsValuable

I share a warren with some rabbits, don't go out much, and eat the first pass droppings. I do alright on 98p a year for flea powder.

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14K, 10K, 20K is irrelevant. Its the relative cost of the basics.

I think the main point was that maybe just maybe there was a time when a young lad would go work in the steel factory at 16, bought a house not long after and raised a family with 7 kids with a cat and a dog. They can look forward to a fat pension and retiring at 55.

Today, you're going to have to wait until you are in your mid 30s to buy, and having children is not easy. Retirement may be possible at 67, but final salary schemes have been scrapped. So you are going to have to be your own hedge fund manager by speculating in either BTL or the lottery.

Good luck :lol:

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What's the problem?

humanity hasn't slaved for 2m years so that its children can just "exist"

that is the problem!

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Yes, and at the moment I`m earning much less than 14k a year (I`m self employed, and work has gone very quiet).

Just to rub salt into the wound, a chap rang the doorbell the other day. He was "selling" cavity wall insulation. I told him that I`d had mine done last year. Anyway, he gave me the leaflet and asked me to hand it to a friend, or family member who might be interested. "No problem", I replied, and off he went. I then glanced at the leaflet to find that homeowners and private tenants can have their cavity walls insulated FREE OF CHARGE if they are -

70 years old or over

Or recieving -

Child Tax Credit

Working Family Tax Credit

Pension Credit

Income Support

Housing Benefit

Council Tax Benefit

Jobseekers Allowance

Attendance Allowance

Disability Living Allowance

Disability Working Allowance

Disability Persons Tax Benefit

War Disablement Pension

If you are not on any benefits, and under 70, you have to pay. In my case, I paid £200 to have the job done last year.

Now, I don`t mind paying my taxes to keep those are less fortunate than myself. What I do mind is looking through the above list, realising that some of the tax that I pay goes towards paying those benefits, and those receiving those benefits don`t have to pay to have their insulation done. Meanwhile, me, the single, tax paying bloke on a modest income (at the moment - poverty income) has to pay. If I was on £50K per year, living in a 4 bedroom detached, then fair enough. I wonder if this could be classed as discrimination against single, tax-paying people ?

Same when I go to get my prescriptions - "do you pay for your prescriptions sir ?". "Yes I do". "That`ll be £7 please". My prescription goes into the tray marked "Paid for", with the three others. The tray marked "Free" always seems to have a pile of 30+ prescriptions in it.

And while I`m feeling sorry for myself, in the unlikely event that I do become officially unemployed, I wonder how long I`ll have to wait to qualify for any benefits. I wonder if I`d qualify for any benefits as I have saved money that I haven`t squandered down the pub, or blown (literally) on cigarettes.

I would now have a few beers to drown my sorrows, but being "prudent", I shall resist. After all, I must make sure I`ve got enough money left to pay my taxes for all those who are on benefits.

Saturday night rant over. ;)

Edited by Prof

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  • 396 Brexit, House prices and Summer 2020

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