Wages Question

LegacyUser

Just a quick question about wages. I just want to find out
how much is a good wage. Im on 50K, in my mid 30's.
Is that good because Im struggling to make ends meet.
Between mortgage and loans I never have much money left, dont go on
holidays, dont have VHI for the family. So Im starting to think
people must be much higher paid.

Beruthiel

Moved to the correct forum.
B

biko

Afaik 50K is a good wage. What's your profession? How much is house, cars etc?
You can check online

leeroybrown

For a lot of people in their mid 30's 50K would be a good salary. I'm sure there are loads more people on 50K struggling by with mortgages, car loans, etc. Are you the sole earner? A lot of people in your situation would be one of two earners in the family and still struggling by.

Xcellor

WagesQ wrote: »

Just a quick question about wages. I just want to find out
how much is a good wage. Im on 50K, in my mid 30's.
Is that good because Im struggling to make ends meet.
Between mortgage and loans I never have much money left, dont go on
holidays, dont have VHI for the family. So Im starting to think
people must be much higher paid.

50k is good money. Nearly double what I am on, but I am 26 so a few years behind. You should probably check what your outgoings are maybe you can consolodate your loans or if you have big credit card debt move to 0.00% balance transfer to give you a few months of a break from paying interest.

Maybe relocate to a cheaper location and commute to work?

Hitchhiker's Guide to...

50k is good (although i'm struggling on approximately the same). But maybe your money management is not the best? I know that's my own problem. Still the new year's resolutions are going to change all that.

In my opinion, VHI and holidays should try to become a priority. You are going to get drained if you don't go on holidays, and you really need VHI (although i'd suggest Vivas as they are cheaper).

Consolidation of debts is a good plan. As are moving to a new credit card.

I find that it is usually the day-to-day small money things that cost me the most. E.g. incidental shopping, food, entertainment. Just saving €3 on lunch by making it yourself, and not buying a cup of coffee in the morning would add up to nearly €200 saved every month. Which would get you a nice two weeks holidays somewhere.

Lizzykins

OH 52 and on that salary. I would think it's very good for someone in their 30s. Maybe you have a big mortgage and car loans-we have minimal loans. You definitely won't be living the high life on anything less than 100k.It'sthe cost of everything in this country too that cripples people.

MIN2511

As everyone has said it depends on your situation

1. Are you the primary/only earner in the family?
2. What field do you work in? You can measure your experience in your field and calculate how much your role would fetch you else where. Might be worth you changing jobs
3. VHI, holidays e.t.c. are key essentials these days, can you not negotiate a deal with your company?
4. Tax credits e.t.c.. check with Revenue.ie maybe you might have some cash due

tbh 50k is a lot more than what people earn but it all depends on your expenditure.
Hope this helps

sunrise13

If you are the sole earner then it is easy to see why you are struggling, but if not, perhaps you are living beyond your means? Sell your car, repay your loan and buy a cheaper car? I know its nice to have nice things but its hard to enjoy those things when you struggle to pay for them. As Xcellor said, maybe sell your house, buy a cheaper one and commute? I know these dont sound like great options but what if you or your family was in an accident and none of you have insurance? Thats more bills/possibility of another loan. And everyone needs a holiday. With the stress of money worries itself as well as working, you'll go insane without a holiday. If not for the possibility of insanity, im sure your family would love to spend time together. You're on great money and you have a family. Cut out the stress and enjoy quality time with them.