What is "Good Money"

[Franko]

OK folks.  We've been having a lot of career/job based discussion on here over the past few days.  During it I've heard people mention the phrase 'good money' a few times.  I'm just trying to get a feel for what, in everyone's eyes, would constitute 'good money'.  This is take home pay, which you have left in a week after taxation/national insurance/student loan repayments etc.  I.e. the figure in the bottom right hand corner of the payslip.  I've done it on a weekly basis as I think it's easier to envisage.

I'm in the wee 6, so have set the poll up in the Queen's Sterling but if we used an indicative exchange rate of e0.80 = £1 to try to level the playing field.  I appreciate that taxation levels are different north and south (NHS etc) but this is just a general indicator.

It's an anonymous poll so please leave egos at the door.  For what it's worth, IMO, anyone taking home more than £500 p/w would be earning what could be termed 'good money'.

[FL/MAYO]

OK folks.  We've been having a lot of career/job based discussion on here over the past few days.  During it I've heard people mention the phrase 'good money' a few times.  I'm just trying to get a feel for what, in everyone's eyes, would constitute 'good money'.  This is take home pay, which you have left in a week after taxation/national insurance/student loan repayments etc.  I.e. the figure in the bottom right hand corner of the payslip.  I've done it on a weekly basis as I think it's easier to envisage.

I'm in the wee 6, so have set the poll up in the Queen's Sterling but if we used an indicative exchange rate of e0.80 = £1 to try to level the playing field.  I appreciate that taxation levels are different north and south (NHS etc) but this is just a general indicator.

It's an anonymous poll so please leave egos at the door.  For what it's worth, IMO, anyone taking home more than £500 p/w would be earning what could be termed 'good money

[/b]

Would that take home wage be for a single person?

[Franko]

OK folks.  We've been having a lot of career/job based discussion on here over the past few days.  During it I've heard people mention the phrase 'good money' a few times.  I'm just trying to get a feel for what, in everyone's eyes, would constitute 'good money'.  This is take home pay, which you have left in a week after taxation/national insurance/student loan repayments etc.  I.e. the figure in the bottom right hand corner of the payslip.  I've done it on a weekly basis as I think it's easier to envisage.

I'm in the wee 6, so have set the poll up in the Queen's Sterling but if we used an indicative exchange rate of e0.80 = £1 to try to level the playing field.  I appreciate that taxation levels are different north and south (NHS etc) but this is just a general indicator.

It's an anonymous poll so please leave egos at the door.  For what it's worth, IMO, anyone taking home more than £500 p/w would be earning what could be termed 'good money

[/b]

Would that take home wage be for a single person?

Yeah, should have said that. I'm not referring to household income, just a single wage.

[seafoid]

Good money depends on where you live and how much a house costs

[Orior]

Dear Franko,

I wouldn't have went with those categories. Instead I would have used:

1) €0 - €400
2) €401 - €600
3) €601 - €800
etc

[The Iceman]

Good money depends on where you live and how much a house costs

Totally agree - depends on cost of living, cost of a house... one mans struggle would be a kings ransom elsewhere...

The minimum wage in Seattle is $15 per hour. That works out to about 21 grand sterling per year.
I'd say that money isn't bad in parts of ireland? it wouldn't keep you here with taxes and medical

Was chatting a QS friend earlier and he was offered a good job close to home or the same job in dublin for 12K extra  - but that 3 hours round trip plus wear and tear on the car wouldn't be worth the extra money..its all relative i think

[Franko]

Dear Franko,

I wouldn't have went with those categories. Instead I would have used:

1) €0 - €400
2) €401 - €600
3) €601 - €800
etc

I thought about that. The reason I went for the categories I did were because I thought that, in all honesty, nobody would determine less than £400 p/w as being good money and similarly, I didn't think that anyone would argue that someone taking home more than £1000 p/w wasn't making a good wage.  I guess I figured that the answer would have lay somewhere in between those limits.  I appreciate that these things are all relative, but everyone will have a figure in their head, that if they heard, would say, "Jeez, that's a good wage".  I wanted to find out where that figure lay for the boarders.

[Franko]

Edit:

I've added another couple of options.  Over £2k p/w take home pay is comfortably into the six-figure salary bracket so I wouldn't see any point in anything higher.

[LeoMc]

Dear Franko,

I wouldn't have went with those categories. Instead I would have used:

1) €0 - €400
2) €401 - €600
3) €601 - €800
etc

I thought about that. The reason I went for the categories I did were because I thought that, in all honesty, nobody would determine less than £400 p/w as being good money and similarly, I didn't think that anyone would argue that someone taking home more than £1000 p/w wasn't making a good wage.  I guess I figured that the answer would have lay somewhere in between those limits.  I appreciate that these things are all relative, but everyone will have a figure in their head, that if they heard, would say, "Jeez, that's a good wage".  I wanted to find out where that figure lay for the boarders.

Are you asking what we think is good money or what we earn. Most people would count a bit more than they are getting as good money.

[FL/MAYO]

Good money depends on where you live and how much a house costs

Seafoid, what would you consider to be good money for a family of 4 to live comfortably in the Galway/Mayo area. I know its like asking how long is a piece of string but in your best estimate what would you consider to be good money in this scenario?

[Itchy]

Good money depends on where you live and how much a house costs

Seafoid, what would you consider to be good money for a family of 4 to live comfortably in the Galway/Mayo area. I know its like asking how long is a piece of string but in your best estimate what would you consider to be good money in this scenario?

Countryside or in the town. Galway city is expensive, a lot of people commute from Mayo as house prices are much cheaper. If you live in rural parts you'd prob want to be on 70k gross per annum between u and spouse.

[seafoid]

Good money depends on where you live and how much a house costs

Seafoid, what would you consider to be good money for a family of 4 to live comfortably in the Galway/Mayo area. I know its like asking how long is a piece of string but in your best estimate what would you consider to be good money in this scenario?

A house is around 200K I think. Not sure about health insurance but I think 700 a week for a couple would be a good start although that is open to correction.

[seafoid]

Sometimes any love is good love and any money is good money

[Puckoon]

Honest money goes further. A bird in the hand is worth two in the bush.

[Franko]

Dear Franko,

I wouldn't have went with those categories. Instead I would have used:

1) €0 - €400
2) €401 - €600
3) €601 - €800
etc

I thought about that. The reason I went for the categories I did were because I thought that, in all honesty, nobody would determine less than £400 p/w as being good money and similarly, I didn't think that anyone would argue that someone taking home more than £1000 p/w wasn't making a good wage.  I guess I figured that the answer would have lay somewhere in between those limits.  I appreciate that these things are all relative, but everyone will have a figure in their head, that if they heard, would say, "Jeez, that's a good wage".  I wanted to find out where that figure lay for the boarders.

Are you asking what we think is good money or what we earn. Most people would count a bit more than they are getting as good money.

What you think is good money.  I don't think I could have been much clearer than that.  Don't agree with the part in bold at all.  But if that's the way you think, then vote for it.  It's an anonymous poll of an anonymous forum so you won't be giving too much away.