Enough Is Not Enough

Back in the days where I was starting out my career I had a really important conversation with one of my mates. We were talking about how “if we can just get to £30,000 per year, that will be enough”.

At the time I was 21, making 20k per year. So £30,000 seemed realistic and enough! Until I read Be Obsessed Or Be Average

£30,000 also falls into the national average salary of the UK, so a lot of people may consider this “enough to get by”

But is it?

I wasn’t convinced this is enough so I looked at some average expenses that you must pay for to live. These averages were based on Glasgow figures as well, as this is where I currently reside.


Rent (city centre): £641/ month

Council Tax: £150/ month

Gas & Elec: £114/ month

Broadband; £30/ month

Phone: £40/ month

Car: £10,000 (split across 10 years) = £1000/ year

Food: £4753/ year

Insurance: £500/ year

Fuel: £2000/year

Holiday x 2: £2000/ year

Social: £2600/ year


Total = £22,873


These are pretty basic expenses and on a 30k salary it will leave you pretty thin. Yearly this totals £22,873 and on a 30k salary you are only taking home £23,000. This will leave you with a whopping £127 saved per year.

On top of that, there’s nothing extravagant on this list. For all the shopaholics reading this, the list unfortunately doesn’t leave you much to indulge in some retail therapy!

“Ok this is great, but my goals are way bigger than £30k!”

 I hear you, and that’s great. However most people (including myself) get used to a certain standard of living. So let’s say you get a pay rise to £40,000 per year! Well from the 40k, you are taking home £30,000. On top of that what are your initial thoughts when you get a pay rise?

Amazing, now I can save more money!”

Unfortunately this wouldn’t be my initial thought. As soon as you get news you will have more income, you start planning ways of how you can increase your outgoings! This point is highlighted in The 100 Year Life. A general rule of thumb is the more people make, the more they will spend. This means they are left in the same situation as before.

It’s ok, I am with my partner so we have 2 flows of income”

 This is true, and this definitely can lighten the load. However it’s not uncommon for this to not be the case, there are plenty of singletons out there. Furthermore, the list I put up earlier didn’t include a 2nd car, a larger food bill, more car insurance, more rent and even a child! The average child costs an additional £15,000-£18,000 per year! This is an additional salary!

“Ok, thanks, but what’s the solution?”

There are a number of things you can do…

  1. Reduce your outgoings – I’m sure there are some things on the list you can reduce. Maybe just have 1 holiday or no holidays each year. Maybe you can reduce the amount you spend in rent. This is all possible, but is it desirable?


  1. Bring more value – In life you get paid for value. If you want to make more money, become more valuable. Look at the positions in your company that will generate you more money and work towards that. Do not complain about the money you are making, that won’t motivate anyone to pay you more. Learn, study and apply more and better information and the money will follow you.


  1. Find a mentor – Find someone that has the lifestyle you want and figure out what they do. Get them to help you, get them to teach you and most of all, if they are willing to help you make sure you apply their information.


  1. Get a career that will help you generate wealth

There are plenty of careers out there that will help you generate wealth. Not only that, the company will help educate you on the subject. If you are passionate about what you do, and money isn’t overly important to you and you’re happy to just get by then no problem.

When I was working in a lab, it became apparently obvious that I was being taught to become a good lab assistant. There was no education on money, wealth building etc. It wasn’t until I entered the career I am in now that I began to understand the importance of building wealth.

Take what you want from this article. When I wrote out this list it really opened my mind about how it’s important to think bigger.

The career I am in today involves teaching people sales, leadership but also getting people around others that have achieved true financial security.





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