This tool was built to help you accurately and easily calculate your finances, in ways that are user-friendly, and easy to understand. isGoodSalary.co.uk can help you calculate your yearly-gross-to-monthly-net salary, simulate your monthly payslip based on your yearly gross salary, calculate your monthly expenses, calculate your savings, and even estimate when you'll reach the millionaire status, based on your salary and spending habits.

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Interesting findings by using the calculator

We have found it absolutely shocking to discover that you need a yearly gross salary of at least £56,000 (an hourly rate of £21) to have a comfortable lifestyle. You know, that lifestyle that you can see in the ads: have a good car, go on holiday abroad once a year, etc. Forget what the society is telling you, and forget what the government is suggesting. We have real facts here with our tool, that can't be denied. Most of the people are having difficulties and they are strugling with their finances first of all because they are not really aware on how much money they need to be earning in order to have a stable lifestyle - not even a decent one - but a stable one. Let's see some examples of our calculations below, and see what kind of a certain salaries will get you:

£15,000 after tax

Let's be honest - a yearly £15K salary is nothing. You can barely live with this salary, even if you're living alone, have no kids, and no car. A salary of £15,000 per year will give you a monthly net income of £1,145. Now let's presume that you are renting a room in a shared house, where you'll pay £650/month, bills included.

Then you spend about £70/week on food and shoppings, about £50/month on your mobile phone, you spend about £50/month on weekend trips (just visiting friends here and there), about £15/month on your Lloyds bank silver account, and about £10/week on work snacks.

Then you spend about £70/week on food and shoppings, about £50/month on your mobile phone, you spend about £50/month on weekend trips (just visiting friends here and there), about £15/month on your Lloyds bank silver account, and about £10/week on work snacks.

Given the expenses above, you'll be left with about £20/month, while living and absolutely minimal lifestyle. Truth be told, you definitely need to skill up and find another job - £15K will get you nowhere in life!

See the full calculations for £15K salary with all the expenses included here

£25,000 after tax

Now if we add an extra £10K to the above £15,000 salary, that will be £25,000 a year - this will bring you home a monthly net salary of £1,428. Have you noticed, that while you are earning £10K more a year, you'll only get about £300 extra per month as a net salary - this is because a big chunk of the £15K is untaxed, because of the £12500 personal allowance that every individual has in the UK.

By having this extra £300 a month, you'll have a slightly better lifestyle, and you'll also be able to save more. Even though you'll be earning about the UK average salary, you'll have a normal lifestyle, if you're just starting out in life - for example, if you're a person who's just finished the university, with no family and no mortgage, and if you're renting a room in a shared house, while driving a lower-end car that you are leasing for £150/month. Here are some calculations that we've done for you with some expenses that we've included, feel free to tweak the values to your preference:

See the full calculations for £15K salary with all the expenses included here

£35,000 after tax

If you're a single person, this is where living good begins :). If you're a couple, you'd better have a partner that's earning at least £20K a year, and that's just for a basic lifestyle. Let's assume, that you are a couple, you earn £35K, your partner earns £20K a year, you rent a 2 bedroom house, you pay your basic bills, and you go on holiday abroad once a year.

You also have 2 average cars, paying a lease of £150/month each (£300 in total), plus insurance, fuel cost, and the basic maintenance (screen wash, car wash, oil change, etc.).

You also go out in town once a week for a pizza or for an Indian/Chinese, and you treat yourself with spa days once a month.

Well, good news! Aparently, as a couple, you'll be able to become a millionaire with this lifestyle in October 2081! As you will see in our calculations, you will be able to save £675 per month this way, which amounts to £16,542 saved in 2 years - almost enough for a deposit for a nice house.

See the full calculations for the above mentioned salaries and expenses here

Feel free to add any salary and modify your expenses as you wish, in order to reflect your real-life circumstances, below:

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