Is 16000 GBP a year a good wage?

Answer 1

After tax, it's not a good. It's too low to get a any sort of decent mortgage and renting will swallow up over one-third of your salary. Plus if you drive, you can factor in between £1,500 and £2,000 a year for the cost of running a car which doesn't leave you with much to buy food, have nights out or save much money.

You can probably live quite well on £16,000 if you rent a basement bedsit in a bad area, don't have any friends, don't drive and do all your shopping at Lidl.