'Middle class' couples, or DINKS (dual income, no children), reveal that the cost of living crisis has been so severe that they have been forced to cut back on spending and cut back on luxury items.
The woman, who earns around £80,000 (about $100,000) a year, revealed that she and her husband had to “downgrade” their lifestyles, including stopping going to the gym and cutting back on eating out, due to the cost of living crisis. Natalie Fisher, 25, and her husband Keldon, 30, both work in the technology industry and each earn six-figure salaries, totaling £160,000 ($200,000). .
The couple, who are considered DINKS, started earning more money, but Natalie said they experienced “lifestyle creep,” with their expenses increasing as their salaries increased. They started eating out more often with friends and taking lavish vacations to Rome, Mexico, and Alaska.
They once spent £1,876 ($2,378) on a modest two-bed apartment, £920 ($1,163) on bills, £170 ($200) on groceries and £230 ($300) on eating out. dollars) was spent. Her average monthly expenditure is £3,200 ($4,000).
In August 2023, Natalie and Keldon from Seattle, Washington, USA, saved up £16,000 ($20,000) for their special day and got married. This prompted the couple to continue to watch her spending in 2024. And despite earning a very comfortable wage, the couple wants to keep their expenses down, so they canceled their gym membership and Natalie stopped getting monthly manicures and pedicures. She only goes out to eat once a week now.
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“My husband and I consider ourselves middle class,” said Natalie, a 25-year-old content creator. “We live in the greater Seattle area and both worked 9-5 jobs in the tech industry. They both earn over $100,000.” ”
As the couple's salaries increased, they experienced what is called “lifestyle creep.” That means you won't be hesitant about spending more because you can. Natalie says, “Just five years ago, we were broke college students. We started earning money and started taking care of ourselves. We started going out, getting our hair done, traveling. I wasn't really worried about spending money on things like that.”
They each spent more than £160 a month on gym memberships and ate out two to three times a week, averaging £50 each. . Natalie also had a manicure and pedicure once a month, which cost £80 each. After spending £16,000 ($20,000) on their wedding, the couple realized they needed to start saving and decided to downgrade their lifestyle.
Natalie said: “Last year was a bit of an unusual year for us. My husband and I got married, so it cost us a lot of money. We traveled a lot and had a lot of general expenses, so we didn't save much. I did,” he said. We are trying to cut down on these unnecessary expenses. ”
Natalie and Keldon are trying to save 160 pounds ($200) each and hope to use the savings to fund a trip to Guam, the Philippines, and Japan. Since the beginning of 2024, the couple has stopped eating out once and has been cooking more and more at home. He decided to cancel his gym membership and start running, and plans to cancel his credit card, which has an annual fee.
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Natalie said: “I noticed that it became very difficult to keep track of how much I was spending when I was out and about. I was living more than I needed. I would like to increase my savings significantly. “I'm trying to find balance this year. I know we're all going through a lifestyle shift. That's a big reason why I wanted to downgrade and track where all the money was going.”
Monthly expenses for couples in 2023
– Mortgage: £1,874 ($2,378)
– Bill: £916 ($1,163)
– Gym membership: £327 ($416)
– Meal: £413 ($524)
-Eating out: 236 pounds ($300)
– Clothing shopping: £340 ($430)
– AC: £80 ($105)
– Savings: £0 ($0)
Total: 4,186 pounds ($4,601)
The couple's monthly spending goal is 2024.
– Mortgage: £1,874 ($2,378)
– Bill: £593 ($753)
– Gym membership: $0
– Meal: £178 ($227)
– Eating out: $0
– Clothes shopping: £8 ($10)
– AC: $0
– Savings: £315 ($400)
Total: 2,968 pounds ($3,368)
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