no savings when u earn £50,000 a year. why?

26 Aug

london 00.12am friday 2016

these families earn £50,000 a year, about £3400 a month after tax; yet they are in debt and have no savings. why is that? the daily mail gives us a breakdown of a few of these families’ expenditure.

it is difficult to see what they are doing wrong. because there are no details. for eg, one family had over £1000 a month on utilities… telephone, electricity etc. that seems rather high. just halving that will give them £500 to play with. child care seems to take a big chunk of their income. i am still of the old school where children are not expensive. my own family have 6 children, and my parents were able to cope and still able to educate all of us on a teacher’s salary. but maybe cost of living in uk is high unlike in malaysia during the 60s and 70s. perhaps if i had married and have children, i too would be finding it difficult to make ends meet. being gay has saved me from a lot of that. but it is still surprising that even earning so much they cannot save. but what about those families who earn far less, how are they able to cope. 

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