'We’re DINKS earning £158k a year but it's not enough to fund our lifestyle'

31 January 2024 , 12:13

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Natalie Fischer, 25, and her husband, Keldon, 30, earn over £160k a year but its not enough to fund their lifestyle (Image: @investwithnat / SWNS)

A woman on a £80,000 ($100k)-a-year salary has revealed she and her husband have had to "downgrade" their lifestyles due to the cost-of-living crisis - by giving up the gym and forgoing meals out. Natalie Fischer, 25, and her husband, Keldon, 30, both work in the tech industry and each earn six-figure salaries - with a combined £160,000 ($200k) between them.

As the couple, who would be considered DINKS (Dual-Income-No-Kids), started to earn more money Natalie says they experienced "lifestyle creep" - where they would increase their spending in line with their increased salaries. They would eat out more with friends and go on luxury holidays to Rome, Mexico, and Alaska.

The pair used to have outgoings of £1,876 ($2,378) for their modest two-bed flat, and would spend £920 ($1,163) on bills, £170 ($200) on groceries, £230 ($300) on eating out - totalling around £3,200 ($4,000) average spend each month.

In August 2023, Natalie and Keldon, who live in Seattle, Washington, US got married after saving £16,000 ($20k) for their special day. This has now inspired them to continue being careful with their spending in 2024. And despite earning a very comfortable wage, the couple wants to curb their expenses so have cancelled their gym memberships, and Natalie has stopped getting monthly manicures and pedicures, and they will only now go out for food once a week.

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'We’re DINKS earning £158k a year but it's not enough to fund our lifestyle'

The couple are saving up for their holidays instead of splurging on other things (@investwithnat / SWNS)

Natalie and Keldon have ditched socialising to save money (@investwithnat / SWNS)

Natalie, 25, a content creator, said: "I consider me and my husband to be middle class. We live in the greater Seattle area and we both had nine to five jobs in the tech industry. We're both earning over $100k and as we started to earn more money we treated ourselves a lot more. A big reason we have decided to downgrade our lifestyle is because we didn't know where our money was going."

As the couple's salaries increased, they experienced what they called "lifestyle creep" - where they wouldn't think twice about spending more because they were able to. Natalie said: "Just five years ago we were broke college students. As we started to earn more money we treated ourselves more. We weren't too concerned about spending money going out, getting my hair done or going travelling."

The pair would each spend over £160 ($208) a month each on gym memberships and they would eat out two to three times a week - at £50 ($60) a pop on average each time. Natalie would also get a manicure and pedicure once a month - costing £80 ($100) every time. After spending £16,000 ($20k) on their wedding, the couple realised they needed to start saving and have decided to downgrade their lifestyle.

Natalie said: "Last year was a bit of an anomaly for us - me and my husband got married which cost a lot of money. We travelled a lot and we did a lot of general spending so we didn't put as much away on savings. We are trying to cut back on these unessential expenses."

Natalie and Keldon are trying to save £160 ($200) each and want to use their savings for a travel fund to visit Guam, the Philippines, and Japan. Since the start of 2024, the couple has not eaten out once and cooked more at home. They have also cancelled their gym membership and decided to start running and will cancel credit cards with annual fees.

The couple have quit their expensive gym memberships (@investwithnat / SWNS)

After getting married and spending £16k they want to save up again (@investwithnat / SWNS)

Natalie said: "I noticed it was getting very hard to track how much we were spending when we would go out. I was living beyond my needs. I want to greatly increase the savings we have and I feel like we spend way too much so I am trying to balance it this year. I know we have experienced lifestyle creep - that is a big reason why I wanted to downgrade my lifestyle and track where every dollar is going."