Paddington Bear wrote: ↑Thu Jan 09, 2025 7:37 pm
World’s smallest violin but a £40 something k salary does not go miles with rents and the cost of living as they are. It certainly doesn’t give a young professional the life they probably expected to have
Found myself reading this and being dismissive. Originally thought "Well I'm on c45k and just away to turn 41. I'm doing OK." But:
- I live in the west midlands, so hardly the south east
- My student loan was done and dusted by early 30's, no way that's happening if I went to Uni even just 5 years after I did
- Married with no kids. Been living together for c10 years now. Obviously not the reason but this made a huge difference financially to me, was swimming in debt c10 years ago
- On this note, debt is fucking expensive, a hard thing to prevent from spiraling and an even harder thing to get yourself out of
- Mortgaging for the past c6 years, not renting. Another example of how it's more expensive to be poor
I need to say I've been guilty of in the past talking about how my generation have been screwed, but I'm seeing another gap opening. The younger generation/s are getting screwed harder.
In saying all of this, personally I had a very tight/frugal 3 to 4 years to get myself out of the debt hole and save my half of the deposit. I was also lucky, my credit card company messed up a calculation and ended up crediting me 5k so that helped. Eventually I was approved an interest free balance transfer card, and over time doing transfers from one card to the other I finally got it sorted.