WEALTH: Why 5 Years of Pay Rises Haven't Made You Better Off — SOLO | Ep. 91

You've worked hard, progressed in your career and earned a few pay rises. So why doesn't it feel like you're getting any wealthier?

Over the past five years, millions of people in Britain have seen their salaries increase without experiencing much improvement in their standard of living.

In this episode of Ambitious Minds, I explore what's happened to our purchasing power since 2021, and why even people earning £50,000 or £100,000 can feel like they're standing still financially.

We look at three major forces behind this:

• Inflation: How rising prices have eroded the value of our salaries.
• Fiscal drag: Why frozen income tax thresholds mean the government takes a larger share of many people's earnings.
• Housing: How higher mortgage repayments have created a growing divide between households.

I'll also compare what salaries in 2021 are worth today, and explain why a pay rise doesn't necessarily mean you're getting ahead.

About Ambitious Minds

Hosted by Jay Lawrence, a Chartered Wealth Manager, Ambitious Minds explores money, investing, careers and business to help ambitious people build successful careers, businesses and wealth.

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