The national 'living wage' in the UK is currently (for 2022-23) £10.42.
If one works a solid 40 hours per week, that's 8 hours of actual paid work a day for five weeks of the year that gives a monthly wage of:
£10.42 * 40 * 52.3 /12 = £1816 a month.
After tax and National Insurance contributions that would mean you'd take home £1560 a month.
Which would be fine, except for this:
A perfectly reasonable budget sheet...
I started working out a REASONABLE budget sheet for a single person who lives alone, and owns a car, nothing special, hardly REACH goals for a life, and look:
Note that I've been VERY tight on many of these - the car costs, for example, are actually £1000 a year BELOW the national average spend, and utilities are pushing it given the cost of heating a house.
Appliances at £50 a month are for high expenditure items that wear out.... washing machines/ fridges/ computers/ televisions/ even phones if yer on a SIM only contract. That's VERY tight.
And look, I've got as far a the basics and there's only £50 left a month for, well EVERYTHING ELSE.
And as to mortgage/ rent.... that £600 wouldn't even get you a room in a shared house in the South East, let alone a place of your own.
Not that it matters....
Because the above income is based on working for 52 weeks a year, so you wouldn't have time to spend that £600 you might be able to save up in a year on a holiday, assuming you have a good year and you don't fancy a night out and no unintended expenditures arise as they never/ always do.
Surely we need to raise the tax threshold....?
I have to ask WHY we start taxing people at £12.5K when even take home pay of 20% more than that ISN'T enough to actually live on?
It's just bonkers!
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