Life is tough on a six figure salary

[BlasterBates]

It's hell being posh but poor: Petronella Wyatt has sold her pearls and given up dining at the Ritz in Chanel suits because, like her friends in the 'Broke Generation', she says you just can't live on a six-figure salary | Mail Online

[doodab]

Among the many reasons for my predicament is that prices have risen disproportionately to salaries, the country remains in recession, and the arrival of the uber-rich from countries like Russia has priced the once well-off out of the market.

Wage inflation time. Wages are out of whack, we need them to go up to save the economy.

[sasguru]

It's hell being posh but poor: Petronella Wyatt has sold her pearls and given up dining at the Ritz in Chanel suits because, like her friends in the 'Broke Generation', she says you just can't live on a six-figure salary | Mail Online

Very true. A six figure income doesn't go very far in London/SE.

[sasguru]

Wage inflation time. Wages are out of whack, we need them to go up to save the economy.

Ah you see when Thatcher destroyed the unions, she destroyed their bargaining power.
Now an economy based on consumption, rather than export, needs people to consume.
But they can't because salaries are too low.
A classic example of unintended consequences.

[administrator]

Her Dad was Woodrow Wyatt (according to Wikipedia "Woodrow Lyle Wyatt, Baron Wyatt of Weeford, was a British politician, published author, journalist and broadcaster, close to the Queen Mother, Margaret Thatcher and Rupert Murdoch") - she is just a privately educated, well connected no-mark. If her old man did all that and got over £100K a year then what do you think a common-or-garden journo got at that point in time? Not as much as he did that is sure.

Even as a journo she is well paid on £100K, over paid IMO. If she wants the lifestyle her parents had then she needs to work a lot harder and make something of herself. She is getting what she deserves IMO. She is a journo with MP's tastes, - champagne tastes and beer bottle pockets. Silly cow

[sasguru]

. Silly cow

You would, though.

[KentPhilip]

Serves the cow right..

[centurian]

You can easily live on 6 figures - as long as you schedule your long term expenditure accordingly.

Many of those that are now struggling, set up their lifestyle expenditures during the good times and just thought the good times would go on and on for ever. They really believed Gordon Brown when he said "an end to boom and bust".

Now they see that pay rises are a thing of the past, bonuses are down/zero - and they are stuck with a humongous mortgage that saps most of that £100K.

Ironically contractors are probably far more resilient to this. We realise that our income level has large fluctuations, so most of us plan accordingly.

[centurian]

Her Dad was Woodrow Wyatt

Who was a Labour MP - they seem to be turning out more toffs than the Tories.

[sasguru]

You can easily live on 6 figures - as long as you schedule your long term expenditure accordingly.

Many of those that are now struggling, set up their lifestyle expenditures during the good times and just thought the good times would go on and on for ever. They really believed Gordon Brown when he said "an end to boom and bust".

Now they see that pay rises are a thing of the past, bonuses are down/zero - and they are stuck with a humongous mortgage that saps most of that £100K.

Ironically contractors are probably far more resilient to this. We realise that our income level has large fluctuations, so most of us plan accordingly.

It's private school fees that cost