Twitter is ridiculing this woman who is 'struggling' to save for a house while earning £70K
As real estate prices skyrocket all over the world and our appetite for the dreaded avocado toast seems only to increase, most young people are unsure if they'll ever be able to own a home. Monaco is the most expensive place in the world to buy property, followed by Hong Kong. New York, Paris and Sydney are also in the top ten most expensive real estate cities, but at number three is Great Britain's capital of London.
As one of the biggest financial hubs of the world, living in London is not cheap. While there are jobs aplenty, not all of them are well-paid, especially when you compare this to the extortionate rental prices. Buying a place in London? You can almost forget about it as a twenty-something-year-old.
But not if you're this 29-year-old woman. The project manager who lives in London has recently made headlines after outrage was sparked due to a feature piece about how she "manages" to live on a £70K salary. "Kate Smith" (whose real name has since been censored), was the star of iNews's latest Money feature on how different members of the public spend and save their money.
The article is titled "How I live on a £69,500 salary while saving to buy a two-bedroom flat" and starts with the quote "The first thing I did was move to a cheaper house share. Then I cancelled my £150 per month gym membership." As you can imagine, people found it ridiculous that the article implied that she was "struggling" to live with such a comfortable salary – two or three times what most people get.
Kate, 29, is a project manager at a property company. She is originally from Australia but lives in London, and she explained how she started saving for her first home while earning £69,500 a year.
Her monthly income is around £4,003, where she has a savings goal of £1,500. After paying for bills, transport and food for the month, she puts £375 aside just for holidays, and then has another £523 leftover "to spend on other treats".
As well as ditching her £150 gym membership, Kate said: "I’ve also reduced how often I take taxis. Now, when I do take one, I link it to a specific credit card so I can track how much I spend per month." She added that she "won’t give up travelling" and justified this by saying "if it’s an expensive place, I won’t drink alcohol".
As you can imagine, the article sparked a whole lot of backlash from people who ridiculed that she could live so "comfortably" on that salary while saving for a house.
On the other hand, she never actually complains about cutting down on her costs, and rather just explains in what ways she's saving up. Sure, £70k is not a small salary, but maybe we should just be happy for her that she's taking responsibility for her finances, no matter how luxurious that still might seem to the rest of us.