How much do you earn?

[Zenchick101]

I earn nothing - I’m a student. My father however started from nothing and built up a student accommodation business, specialising in luxury living. There are a few franchises across England so I don’t want to say too much, but he earns tens of millions.

I’m privileged but it comes with its downfalls. My mother did everything for us as children, I didn’t see my father much. He just throws money at us, he never taught me business acumen or how to get into business or any life skills really...I don’t want to sound all “woe is me”, but sometimes I just want a conversation with him about a business idea I have or how to start up a business

Can I ask what your lifestyle is like? are you the kind of rich people that wear labels from head to toe or ones that are very discreet and you couldn't tell they were rich? with all the fakes on instagram I'm always curious what real rich people are like - it's so far removed from my own experiences.

 

[Thatswhattatsaid]

My partner is currently experiencing this in his new job, but more in a “oh you don’t need to worry about that you’re only band 3” or “you don’t get a say in this because you’re only band 3” and even “oh don’t worry about changing that light bulb you’re band 3 you don’t need to do that”... my partners a bit like, well if something needs done why wouldn’t I do it? He feels his new workplace is very focused on what band you are and how that dictates your roles and responsibilities, rather than what your job title actually is.

It’s sad really, the NHS used to use Banding to dictate job role a lot however they’ve moved on a bit and the attitude sticks. I’m a band 6 currently and in a team where band 7’s do the exact same job role but were recruited in to the team at a time when that was the salary whereas now we have to apply for them, it’s frustrating, and especially when some have been there that long they happily fly under the radar and do bare minimum so on the other hand I can see why the attitude sticks

 

[Sweetsunrise]

Can I ask what your lifestyle is like? are you the kind of rich people that wear labels from head to toe or ones that are very discreet and you couldn't tell they were rich? with all the fakes on instagram I'm always curious what real rich people are like - it's so far removed from my own experiences.

Of course, my father gives us money but very carefully monitors what we spend it on (used to check our bank statements, until I made a huge fuss and went paperless and he stopped). He is very tight with money though, he hardly spends on anything unless it’s an investment/education. He buys designer items but only in charity shops and eBay, never retail. My mother wears some logos, but day to day dresses very simple. I’m probably the flashiest out of everyone in the family lol

Our lifestyle is normal on a daily basis. But we do have a cleaner who comes once a week, we go on multiple family holidays a year (not now), usually a multi city trip, staying in 5* hotels. But what you don’t see is my father meticulously planning every detail to make sure we get it for the cheapest price possible, cheapest flight time, date, company, often ringing the hotel asking for offers/deals. I recall once we were on holiday and I was extremely thirsty in the mall, I wanted to buy a drink but my dad refused to let me spend more on a drink in the mall. He made us walk 25 mins in blistering heat so I could get my juice for £1 cheaper. Even though it was my own money

You could never tell my family has money, unless you saw where we lived. My parents drive nice but normal cars, not flashy at all. None of us get birthday presents either, we get “investments” I.e. a house bought “for us”, which you don’t have access to yet (which is great but when you’re a kid all you want is a new phone or some trainers. Hope this answers your question

 

[Thatswhattatsaid]

Of course, my father gives us money but very carefully monitors what we spend it on (used to check our bank statements, until I made a huge fuss and went paperless and he stopped). He is very tight with money though, he hardly spends on anything unless it’s an investment/education. He buys designer items but only in charity shops and eBay, never retail. My mother wears some logos, but day to day dresses very simple. I’m probably the flashiest out of everyone in the family lol

Our lifestyle is normal on a daily basis. But we do have a cleaner who comes once a week, we go on multiple family holidays a year (not now), usually a multi city trip, staying in 5* hotels. But what you don’t see is my father meticulously planning every detail to make sure we get it for the cheapest price possible, cheapest flight time, date, company, often ringing the hotel asking for offers/deals. I recall once we were on holiday and I was extremely thirsty in the mall, I wanted to buy a drink but my dad refused to let me spend more on a drink in the mall. He made us walk 25 mins in blistering heat so I could get my juice for £1 cheaper. Even though it was my own money

You could never tell my family has money, unless you saw where we lived. My parents drive nice but normal cars, not flashy at all. None of us get birthday presents either, we get “investments” I.e. a house bought “for us”, which you don’t have access to yet (which is great but when you’re a kid all you want is a new phone or some trainers. Hope this answers your question

It’s really nice to read that you haven’t let money take control of you. My friends young son goes to his Dad’s every weekend, he’s money obsessed and as a result her son has become money obsessed, always asks how much things are and tells people about his money (incredibly sad for a 10 year old).

 

[Zenchick101]

Of course, my father gives us money but very carefully monitors what we spend it on (used to check our bank statements, until I made a huge fuss and went paperless and he stopped). He is very tight with money though, he hardly spends on anything unless it’s an investment/education. He buys designer items but only in charity shops and eBay, never retail. My mother wears some logos, but day to day dresses very simple. I’m probably the flashiest out of everyone in the family lol

Our lifestyle is normal on a daily basis. But we do have a cleaner who comes once a week, we go on multiple family holidays a year (not now), usually a multi city trip, staying in 5* hotels. But what you don’t see is my father meticulously planning every detail to make sure we get it for the cheapest price possible, cheapest flight time, date, company, often ringing the hotel asking for offers/deals. I recall once we were on holiday and I was extremely thirsty in the mall, I wanted to buy a drink but my dad refused to let me spend more on a drink in the mall. He made us walk 25 mins in blistering heat so I could get my juice for £1 cheaper. Even though it was my own money

You could never tell my family has money, unless you saw where we lived. My parents drive nice but normal cars, not flashy at all. None of us get birthday presents either, we get “investments” I.e. a house bought “for us”, which you don’t have access to yet (which is great but when you’re a kid all you want is a new phone or some trainers. Hope this answers your question

Thank you it does! It's actually really interesting to read, because it seems that even though you enjoy a higher quality of life then most people your father still insists on being as frugal as possible. So you've been getting investments set up for you since you were kids? I understand wanting presents but at least you're pretty well set up now. I'm also curious what your money habits are as a family, do you use credit cards? do you leverage debt to buy multiple properties as investments? I hope I'm not being nosey, i've been looking into personal finance and finding conflicting view points which is confusing. (ex.Dave Ramsey)

 

[The Dowager]

Thank you it does! It's actually really interesting to read, because it seems that even though you enjoy a higher quality of life then most people your father still insists on being as frugal as possible. So you've been getting investments set up for you since you were kids? I understand wanting presents but at least you're pretty well set up now. I'm also curious what your money habits are as a family, do you use credit cards? do you leverage debt to buy multiple properties as investments? I hope I'm not being nosey, i've been looking into personal finance and finding conflicting view points which is confusing. (ex.Dave Ramsey)

Ooooh, I'd love a Dave Ramsey thread. I think he's awful, but some of his advice is brilliant in the right circumstances. Although some of his advice is pants, hence why I think a thread would be fascinating

 

[Zenchick101]

Ooooh, I'd love a Dave Ramsey thread. I think he's awful, but some of his advice is brilliant in the right circumstances. Although some of his advice is pants, hence why I think a thread would be fascinating

what category would that go under?

 

[Sweetsunrise]

It’s really nice to read that you haven’t let money take control of you. My friends young son goes to his Dad’s every weekend, he’s money obsessed and as a result her son has become money obsessed, always asks how much things are and tells people about his money (incredibly sad for a 10 year old).

thank you, wow that is sad...

Thank you it does! It's actually really interesting to read, because it seems that even though you enjoy a higher quality of life then most people your father still insists on being as frugal as possible. So you've been getting investments set up for you since you were kids? I understand wanting presents but at least you're pretty well set up now. I'm also curious what your money habits are as a family, do you use credit cards? do you leverage debt to buy multiple properties as investments? I hope I'm not being nosey, i've been looking into personal finance and finding conflicting view points which is confusing. (ex.Dave Ramsey)

Yes, we were told about these investments as children and I’ve seen my fathers will and everything is split evenly. We do use credit cards, I asked my dad why and he said “it offers better protection than a debit card, you’re protected against scams if you buy online or aren’t happy with a product and if your holidays are cancelled”. I didn’t know that but there we go! Our education is paid for in instalments too, even though he could afford to pay outright. Every pound is accounted for

Yes, he will often buy a property cheap, do it up and create an extension to make more bedrooms, and then rent it out. Or he will sell it for much more than he bought it. That money will then be further invested and the cycle continues. Don’t worry it’s okay you’re not nosey at all

 

[Zenchick101]

thank you, wow that is sad...




Yes, we were told about these investments as children and I’ve seen my fathers will and everything is split evenly. We do use credit cards, I asked my dad why and he said “it offers better protection than a debit card, you’re protected against scams if you buy online or aren’t happy with a product and if your holidays are cancelled”. I didn’t know that but there we go! Our education is paid for in instalments too, even though he could afford to pay outright. Every pound is accounted for

Yes, he will often buy a property cheap, do it up and create an extension to make more bedrooms, and then rent it out. Or he will sell it for much more than he bought it. That money will then be further invested and the cycle continues. Don’t worry it’s okay you’re not nosey at all

Thank you , but by leveraging debt what I meant was (I believe) buying several homes with a downpayment (and having the renter pay the mortgage) vs buying each home in cash and not having to get a loan from the bank.

 

[Sweetsunrise]

Thank you , but by leveraging debt what I meant was (I believe) buying several homes with a downpayment (and having the renter pay the mortgage) vs buying each home in cash and not having to get a loan from the bank.

Sorry! Can you tell I’m not clued up on this (I wish I was) but I believe he does do that, on some properties he pays a small monthly mortgage from the rent he receives. I can ask him more about this when (if) I see him if you like?

 

[Rxt156]

Wow very interesting to hear about other people’s earnings and lifestyles as a result of their earnings.

No one talks about this in real life

 

[Zenchick101]

Sorry! Can you tell I’m not clued up on this (I wish I was) but I believe he does do that, on some properties he pays a small monthly mortgage from the rent he receives. I can ask him more about this when (if) I see him if you like?

Oh wow yes that would be lovely thank you!! If he has any finance/investment tips I think it'd be a lovely learning opportunity for people on here I'd be forever gratefull (seriously got no one to get these tips from)

 

[Sweetsunrise]

Oh wow yes that would be lovely thank you!! If he has any finance/investment tips I think it'd be a lovely learning opportunity for people on here I'd be forever gratefull (seriously got no one to get these tips from)

This was his reply! The last bit was a dig at me if you want to know anything else pm me so we don’t derail the thread and so I’m not annoying others haha

 

[bunnyboo]

Don't know why you have gotten so enflamed by this. We have a concept of free healthcare and education but in practise they are useless.

HSE is not fit for purpose. Its great if you want to be put on a never ending waiting list but if you need something urgently going private is the only way. Don't forget you also have to pay for your hospital visits, GP etc. It's 70 quid a pop to see my GP, I don't meet the threshold for a medical card. Its bloody expensive not to mention the woefully inadequate supports for mental health/ learning disabilities.

Public schools are free in theory but in my area anyway have a voluntary contribution which is usually in the hundreds for a secondary school student. Not to mention the cost of books etc. So yeah, free education is a bit of a joke.

Don't forget to save your doctor and prescription receipts. You can claim 20% back via MyRevenue at the end of the year.

It physically hurts me to fork over €65 to see a doctor for 5 minutes to get a prescription the real kick in teeth was this year because of Brexit and supply issues... one of my prescriptions on its own cost €55 (a bottle of ear drops).. you couldn't make it up.

 

[Zenchick101]

This was his reply! The last bit was a dig at me if you want to know anything else pm me so we don’t derail the thread and so I’m not annoying others haha

that last one was funny! Thank you I definitely will in a couple of days! learned a few things already. I'm going to think of some questions then come back to you. It's rare finding information without someone trying to sell you a course so this is so cool. I will now stop derailing the thread. haha

 

[neo_wales]

Don't forget to save your doctor and prescription receipts. You can claim 20% back via MyRevenue at the end of the year.

It physically hurts me to fork over €65 to see a doctor for 5 minutes to get a prescription the real kick in teeth was this year because of Brexit and supply issues... one of my prescriptions on its own cost €55 (a bottle of ear drops).. you couldn't make it up.

Which country you living in if you don't mind me asking?

I used to work for the NHS in various settings and I couldn't get over how everyone working there was obsessed with what band (pay scale) people were on! You could be having a general conversation with a colleague and they'd be like... you know Joe bloggs who works in... x dept, the one on band 7b well he's dating so and so. Money has always been a bit of a taboo subject, that was rude to talk about in other sectors so it intrigues me as to why NHS staff are obsessed with who earns what!

Your exaggerating a tad. You'll know other staffs pay by their role/band, if your unsure https://www.nurses.co.uk/careers-hub/nursing-pay-guide/ look at that, if they work full shift pattern you can add 20% or so on top for enhanced pay. I retired a band 7 ward manager, we all knew what bands we were all on, people in my team were never obsessed with others payscale. My wife retired an 8d but went back on a band 7 last year when covid hit so I don't have to tell you what we earned. Second bit I highlighted is called gossip, happens in every workplace.

If you like gossip come work in Wales, the Welsh have gossip down to a fine art

 

[Sweetsunrise]

that last one was funny! Thank you I definitely will in a couple of days! learned a few things already. I'm going to think of some questions then come back to you. It's rare finding information without someone trying to sell you a course so this is so cool. I will now stop derailing the thread. haha

no worries at all! Okay that’s fine I will interview him I think I’m in for a lecture when I go home lol...

 

[bunnyboo]

Which country you living in if you don't mind me asking?

Ireland. No NHS here

I pay €70 a month for private health insurance so if the worst happens, at least I have options for semi-private care. The waiting lists and overcrowding of our hospitals was a huge problem pre-covid... so you can only imagine what it's like now.

 

[hehehe]

A good friend of mine has just qualified as an occupational therapist. She has a uni degree and two masters now and is on about £26K in the UK. Her course was full of American students who come over to get a UK degree which is seen as prestigious in the field and then return to the US to start on $120K. She has contemplated going over there for the income for a few years alone.

That's nuts, she absolutely should do a few years in the US and make bank. Occupational therapists are seriously needed and should be paid properly. I think it's the structure of the US healthcare system (a for-profit system) that generates those large salaries, compared to the UK's public one.

My mum's bff (from Glasgow) makes over $100k as a senior nurse after moving to the US. The person I know making $550k is British and he moved to the US 10-15 years ago after basically realising he was going to be living hand to mouth as a specialist on the NHS. It's sad. For me, I haven't ruled out moving to America, because in investments I could make an obscene amount of $$ there.

 

[neo_wales]

Ireland. No NHS here

I pay €70 a month for private health insurance so if the worst happens, at least I have options for semi-private care. The waiting lists and overcrowding of our hospitals was a huge problem pre-covid... so you can only imagine what it's like now.

Sorry for you bunny, thought you might be in Spain where if your under retirement age and working there you can pay monthly for their 'NHS' which actually is pretty good.

That's nuts, she absolutely should do a few years in the US and make bank. Occupational therapists are seriously needed and should be paid properly. I think it's the structure of the US healthcare system (a for-profit system) that generates those large salaries, compared to the UK's public one.

My mum's bff (from Glasgow) makes over $100k as a senior nurse after moving to the US. The person I know making $550k is British and he moved to the US 10-15 years ago after basically realising he was going to be living hand to mouth as a specialist on the NHS. It's sad. For me, I haven't ruled out moving to America, because in investments I could make an obscene amount of $$ there.

Lots of variation in pay scales in the USA, not all senior nurses will earn that. In the UK an agency staff nurse will earn about £40 an hour on a night shift, £50 an hour if you are specialised. If you work nights (four a week) you can pull in @£2k a week.