Household Income -- What is a liveable amount?

Hey all, this may stray into the area of being a Personal Question, so rather than asking you how much you make and how you get by, I'll make it more abstract:

How much money might be sufficient for a household (2 parents and 2 young kids, say) to get by on? I'm sure it depends on where you live and what your other expenses are, but if (say) each parent was making around 25,000 quid (before tax) how far would that go? Could this couple get a mortgage? Could they live somewhere half decent that wasn't overrun by street crime? Could they eat out once in a while and maybe take the odd holiday?

Your personal experiences (thinly-disguised, if necessary) related to this thorny topic would be most interesting.

What part of the UK are you looking at?

I'm pretty wide open, but I see the point of your question: the answer to my query would be different for London than for a village in Yorkshire.

I'm really interested in hearing from people from all over, but I'm particularly interested in London -- the idea of living there is very tempting, but I'd hate to be in a situation where I was obsessing over every penny and tearing out my hair due to financial uncertainty.

It is possible...depending on what you call struggling. Our family was until recently two working parents (making just a couple of thousand more than you listed), my two adult children from a previous marriage, my 17 yo son and our 2 yo daughter. We live in a decent privately rented 3-bedroom on a council estate. We go on holiday back to the US at least once each year, but usually just hubby, me and the baby. We eat out about once a month or a bit less as a family. Likewise hubby and I eat out alone once or twice a month.

But things are getting tougher...food prices have risen significantly...as have fuel prices. But now we are doing it on just his salary and tightening our belts...but we are still making it. Of course though, now we are down to 2 adults and the two younger children only too. But home ownership on those salaries is unrealistic...unless you are a key worker and qualify for one of those shared ownership deals that is.

It is not easy...there are struggles...but it can be done.

I live in Yorkshire, and a family of four on £50K a year gross would be fine financially here, I think (well, assuming you don't have a huge amount of debt or anything.)  It's much less expensive than London up here and getting a mortgage on a 3-bedroom semi (for example) wouldn't be an issue on an income of £50K as long as you had a deposit and good credit.  You're not going to be minted or anything, but you'd certainly be able to survive and probably save a bit (but keep in mind I don't have kids, so I'm estimating their cost, here.)

I live in Yorkshire, and a family of four on £50K a year gross would be fine financially here, I think (well, assuming you don't have a huge amount of debt or anything.)  It's much less expensive than London up here and getting a mortgage on a 3-bedroom semi (for example) wouldn't be an issue on an income of £50K as long as you had a deposit and good credit.  You're not going to be minted or anything, but you'd certainly be able to survive and probably save a bit (but keep in mind I don't have kids, so I'm estimating their cost, here.)

But salaries would be lower in Yorkshire.

But salaries would be lower in Yorkshire.

True, but plenty of people make £25K per year here- it just depends on the job.

Edit:  But do you mean that if they made £25K in Yorkshire they'd make a few K more in more expensive London so it works out about the same?  I don't know if I agree with that, I think you have more buying power up north (especially when it comes to property) even accounting for the regional difference in salary.

I meant that if the OP is expecting to make £25K around London, if he worked at the same job, he would earn less in Yorkshire.

It is possible...depending on what you call struggling. Our family was until recently two working parents (making just a couple of thousand more than you listed), my two adult children from a previous marriage, my 17 yo son and our 2 yo daughter. We live in a decent privately rented 3-bedroom on a council estate. We go on holiday back to the US at least once each year, but usually just hubby, me and the baby. We eat out about once a month or a bit less as a family. Likewise hubby and I eat out alone once or twice a month.

But things are getting tougher...food prices have risen significantly...as have fuel prices. But now we are doing it on just his salary and tightening our belts...but we are still making it. Of course though, now we are down to 2 adults and the two younger children only too. But home ownership on those salaries is unrealistic...unless you are a key worker and qualify for one of those shared ownership deals that is.

It is not easy...there are struggles...but it can be done.

You may see my post elsewhere about starting to shop a Walmart for groceries this month. We got loads of food and the bill was £60 for the two of us and it will last for the month.
One thing we have to consider is the plight of the shopkeepers and cafes because as you cut back think how they suffer as all the other people cut back and what this does to their income.

I agree with Springhaze living here in Yorkshire on that salary would be more than plentiful - depending on the area you live in.  Yes, you will probably earn less in Yorkshire than in London, but you have to consider you'll have less expenses in Yorkshire by comparison (depending on your lifestyle).   

It would also be plenty to live very comfortably in Cheshire.

It would also be plenty to live very comfortably in Cheshire.

As the American rep in Cheshire, where about are you?

As the American rep in Cheshire, where about are you?

Crewe....and you?

In the Desert US.
I have friends who have a farm in Nantwich.
My mother grew up in Rossett.
I like Cheshire!
"All change at Crewe"

In the Desert US.
I have friends who have a farm in Nantwich.
My mother grew up in Rossett.
I like Cheshire!
"All change at Crewe"

I like Cheshire too .