Amelia Brown, 33, describes herself as a HENRY – a high earner not rich yet. Despite earning £156,000 annually, she does not feel wealthy and has banned M&S shopping and Botox treatments to save £200,000 within two years for her dream London home.
What is a HENRY?
HENRY stands for 'high earner not rich yet'. It refers to individuals who earn a decent salary but have not yet accumulated significant assets or wealth. Amelia fits this category despite her substantial income. Over the past decade, she boosted her earnings from £45,000 in Australia to her current £156,000. However, after tax and pension contributions, she takes home £6,924 per month.
Her savings goal
Amelia aims to accumulate £200,000 over two years to purchase a three-bedroom freehold property with a garden in London, where she plans to start a family with her partner. She already has £35,000 in savings. To achieve this, she has imposed strict spending cuts: no new clothes, no M&S purchases, no Botox, and reduced travel. She also defers buying a car.
Monthly budget breakdown
- Net pay: £13,000
- Take-home pay after tax and 10% pension: £6,924
- Joint account (rent, bills, food, cat supplies): £2,500
- Investments (stocks & shares ISA and crypto): £1,800
- Savings: £1,000
- Sinking funds (travel, therapy): £500
- Remaining: £1,124
- Budgeted items: eating out £200, non-shared groceries £200, gym £175, French lessons £75, TfL and Lime bike £100, gifts £200
Why she doesn't feel rich
Amelia explains: 'I heard about HENRY on a UK subreddit and thought, oh yeah, I'm in this bracket. It's people earning a decent salary who haven't earned long enough to accumulate assets or don't come from generational wealth.' She adds that London's cost of living makes it difficult: 'Living in London, my salary doesn't go as far as people think. I know I'm lucky, but I want to turn this high salary into assets.'
She also notes the tax trap: between £100,000 and £125,000, you pay 60% tax, and above that, 47%.
Her strategy: skip the starter home
Instead of buying a starter home, Amelia plans to save cash and buy her forever home directly, avoiding costs like stamp duty and moving expenses. She uses the 'pay yourself first' principle: after each paycheck, she allocates money to savings and investments first, then budgets for luxuries like travel and therapy.
She reduced her pension contributions from 20% to 10% and generates extra income through content creation, which boosted her take-home pay by 20% last month.
Career background
Born in London but raised in Australia, Amelia turned down a PhD in mechanical engineering and a scholarship at Oxford University to work in management consultancy and later a US-based start-up, which gave her a £50,000 pay rise to £150,000 at age 32. She moved to the UK in 2024.
Advice for savers
Amelia advises: 'Be honest about your financial situation. High earners should be ruthless with expenses. Most people need to find ways to increase their income and set clear financial goals.'
