I'm in Scotland, my salary is about £45-£48k. I take home about £31k.
The median salary here is about £21k nationwide.
I bought my home for £170k, now worth about £230k. it's a decent sized apartment in a nice area in the city where I work. For an indication of size, my living room is about 23ft by 28ft, 2 bedrooms, 2 bathrooms.
Some perspective on the costs that look "scary" for the people outside of the USA. I'll share some personal data based on my 20 years since moving here. I have started with $60K and now I am making close to $250K. All this time I was living in a median cost area (one of the top 20 US cities, east coast).
My average effective tax rate over the last 20 years is 19.6% (this includes federal, state, social security and medicare taxes)
My average medical expenses for a family of four are at 3.6% of my gross salary (includes health/rx/dental/vision insurance premiums and out of pocket expenses)
I've paid cash for my oldest child's education at top 10 public university - ~1.5% of my earning over the last 20 years. I am expecting to pay similar cash amount for my other child.
We live in a 4000 sqft McMansion near the best public schools in the state. My mortgage is ~$820 at 2.5% APR
It does look like your effective tax rate is 31-35%, which is more than my all-inclusive rate of ~24.7%
Did you have a large down payment? That looks like a small monthly cost for such mortgage. Or maybe the interest on such loan in Scotland is very small.
Well damn, I don't think there is anything below 3.00% (3.50% more common) where I live.
That's nominal - 3.5% - 4.0% is the effective interest rate. I don't know much about mortgages, so not sure if I'm missing something. Congrats on your place - it looks great!
Effective interest rate is, to my understanding, not related to inflation. It's just a way to make loans with various compounding periods easily comparable (I'm mostly citing this from Wikipedia, I'm far from expert here: https://en.wikipedia.org/wiki/Effective_interest_rate )
I just mentioned it for the sake of providing more information to whomever was reading my comment.
The median salary here is about £21k nationwide.
I bought my home for £170k, now worth about £230k. it's a decent sized apartment in a nice area in the city where I work. For an indication of size, my living room is about 23ft by 28ft, 2 bedrooms, 2 bathrooms.
Some photos to show what I got for my money:
https://imgur.com/gallery/6oNLRtl
My outgoings each month average out to around £1200k. Mortgage is under £450 a month.
Healthcare is all free, university is free, prescriptions are free.