Genealogy Chat
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£ values at today's rate - may be of interest
| Profile | Posted by | Options | Post Date |
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Geoff | Report | 4 Dec 2005 23:14 |
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The RPI can be of use for short-term changes. It has little use when talking about the 1800s. Apart from bread, beer, beef and brothels, the pattern of spending is so different to make comparisons meaningless. |
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InspectorGreenPen | Report | 4 Dec 2005 21:26 |
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Merry, Interestingly we earn an awfull lot more, relatively speaking, than we did then so have much more spending power. The calculation I did was based on the RPI. You have only got to look at the last 50 years or so. £500, in 1950 which was the typical starting salary for a graduate is now worth £10,528.56 according to the RPI. However, starting salaries for graduates with good qualifications today are around £20,000, double that amount. |
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Merry | Report | 4 Dec 2005 21:04 |
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LOL Peter, One of mine left his son (eldest child and only son) one shilling!! (1816) Another one left £340,000 in 1890......None down my line though :o(( Those bedsteads were sought after....One rellie left three daughters three bedsteads, three bolsters, chests of drawers etc etc. but they were '''best''', ''second best'' and '''common'''.....does the same go for the daughters?????!! Merry |
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InspectorGreenPen | Report | 4 Dec 2005 21:01 |
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It's quite fascinating. I have to smile when you see some of the 'antiques / rubbish' on the television and they say thet the item is worth £100 or whatever. What they dont say is that it cost £200 then, in todays money so has actually gone down in value...! This is from my gggg grandfather's will - he died in 1806 I Give & bequeath unto my Daughter Lydia the Legacy or Sum of Eleven hundred Pounds to be paid to her within twelve Calendar Months next after my decease by my Executor hereinafter named also the Bed together with the Box & a Chest of Drawers all standing & being in the Chamber which she uses & sleeps in The £1100 is equvalent to £58,721.22 in 2002, not bad for an unmarried 29 year old daughter still living at home. Incidentally, she was married the year, they must have been queuing up after her father passed away. Not only was she wealthy, she came with her own bed and chest of drawers as well...! |
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Susan | Report | 4 Dec 2005 20:41 |
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Whoops! Sorry. |
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Merry | Report | 4 Dec 2005 20:40 |
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Watch out, I got smacked down for mentioning that web site!!!! Mainly because the cost of things has not risen in the same way as earnings....... Still tells me who was rich and who was poor though!! Merry |
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Susan | Report | 4 Dec 2005 20:30 |
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That's very funny, I must remember that one!! |
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Vicky | Report | 4 Dec 2005 20:28 |
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Interesting!!! Found a will with (amongst the other bequests) this line, which I thought quite amusing 'To my daughter Elizabeth Green I give the £10 which she borrowed from me in 1871' worth about £570 now |
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Susan | Report | 4 Dec 2005 20:19 |
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I have been given this website which exchanges money from days gone by into today's rates - well up to 2002. This may be of interest to anyone that would like to know how much their ancestors left in their wills and how much it would be worth today. As usual remove brackets. Hope it's of some use. (http://eh.net/hmit/ppowerbp) |
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