How much do you need be paid to achieve your chosen lifestyle?

How much do you need be paid to achieve your chosen lifestyle?

March 21st 2010 9:41 pm

general

We have just finished our fully featured, reverse uk tax calculator for tax years from 2003 to 2010/2011. You just need to ...

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We have just finished our fully featured, reverse uk tax calculator for tax years from 2003 to 2010/2011. You just need to enter your chosen/required take home pay and select other options that are relevant to you, such as:
  • whether you have student loan repayments
  • would like to make pension contributions - salary sacrificed or otherwise
  • your known tax code, otherwise we will automatically calculate it from your age/sex
The calculator returns some interesting results. With average houseprices at £150,000, a 5% repayment mortgage over 25 years would cost £887 a month. For a graduate, repaying a student loan, the gross income required to satisfy the mortgage alone would be £12,645 per annum. If you were to include continguencies, running costs, motor etc you would need nearly £1800 a month to live a reasonable lifestyle. The graduate would need a salary before tax of £30,564. What are average graduate salaries at the moment? Give our reverse tax calculator a go.

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