I earn a six-figure salary but it just isn’t enough. Don’t even think about calling me rich – I’d need to earn another £40,000 just to be comfortable. And here’s why…

For most, a six-figure salary is an aspiration – indeed, a meagre two per cent of people in the UK earn above £100,000, according to data from the Office for National Statistics.

However, the high cost of living and tax rates plus property prices means that even if you do hit that threshold, you may not feel as wealthy as you might expect.

Here, Kate Flounders, a 44-year-old divorced solicitor from County Durham, explains why her six-figure salary leaves her wanting more…

Two years ago I finalised my divorce and moved from Kingston upon Hull with my two golden retrievers to a three-bedroom semi-detached house with an enormous garden, right by the sea, in Hartlepool.

It’s an affluent area and popular with families. Of course people would assume I’m loaded, but my single life comes with lots of hidden expenses.

I’m self-employed, running my own consultancy, Safeguarding Association, from home.

After studying law at Nottingham Trent University I qualified as a child protection solicitor and set up my business, working with colleges, universities, local authorities and social services to help get better and swifter outcomes for children and young adults.

My divorce after 12 years of marriage made me think about how to increase my earnings.

While my annual income is about £100,000, the bills and costs do add up, and as a single person I’m now solely responsible for all the bills.

So even with this income, I’m not managing to save as much as I’d like to. I’m incredibly grateful I have had the opportunities to do what I want – but I certainly do not feel rich.

I have to earn the income of two people to afford my house. I’m also taxed more than a married couple, who would each get a tax-free allowance of £12,570.

So for me as a single earner with an income of £100,000, I pay much more tax than two people earning £50,000. I also set aside £200 a month to go into my pension.

My monthly bills are about £5,000. Of these, the biggest is my mortgage, which is more than £1,000 and has 23 years remaining.

Although where I live is a sought-after area, the house does need some renovation.

Everything needs decorating and I’d like to do an extension at some point, so that’s another expense to factor in.

Running my car, what with fuel, insurance and maintenance included, is £750 a month.

Even though I don’t really eat out, food is a big expense. I spend about £500 a month on food and treat myself with three or four meals a week through a HelloFresh subscription costing £160 a month (a delivery service that sends pre-portioned ingredients and recipes to your door).

As I’m self-employed it’s vital I have income protection insurance and critical illness cover, and that adds up to around £300 per month. Energy, water, internet, TV and other bills add up to about £1,000. Council tax is £160.

Then there are my two gorgeous golden retrievers, Russ, six, and Sam, five, who I love dearly but, as any dog owner will tell you, cost a fortune. I spend about £400 a month on daycare and dog walks when I’m working away, on top of food and treats. Plus their health insurance adds on another £250.

My two gorgeous golden retrievers, Russ, six, and Sam, five, who I love dearly but, as any dog owner will tell you, cost a fortune, Kate Flounders says

I take a few holidays each year, but I’ve found the single person supplement – where you are charged extra if you book a room designed for two people – is an absolute killer. As a divorcee you aren’t able to share hotel or travel costs with someone. And because I like to take the dogs it means that I have to pay more for dog-friendly accommodation.

I actually bought a towing caravan last year to save myself money and to make trips away easier, and spent about £2,000 on a 1995 model.

It means I can just pitch up on a site somewhere and can take the dogs with me without worrying about whether they may do damage in a hired lodge or cottage.

I’m off to Kielder Water, Northumberland, in May and the Derbyshire Dales in June in the caravan.

I also have hired help – a cleaner, someone who cuts the grass and someone who does my ironing, and they add up to around £250 a month. Of course they are luxuries I could cut back on, but each one of them makes my life easier and employing them means I can concentrate on earning more money – and enjoying my downtime, such as going for long walks on the beach with the dogs.

Divorce is not easy for anyone, but in my case it was not acrimonious. We split everything evenly and I didn’t have a huge settlement. There wasn’t much beyond his pension, and I didn’t touch that.

But I’ve adapted and accepted my new single life, and actually like the freedom that comes with it as I can make my own decisions.

But being the one that has to foot the bills adds pressure, particularly as I’m self-employed.

Of course, I’m happy to pay tax, but because I pay 100 per cent of the bills I’m taxed more. I’m trying to save money each month, but it’s difficult when you are hit with an unexpected bill such as a larger-than-anticipated energy bill.

One of the things I’d like to focus on over the next few years is really building my pension pot so I can retire comfortably – ideally in my late 50s – but I’m happy to reduce my workload and have a hybrid work/retirement phase.

How much would I need to earn to feel really comfortable?

I think if I were to earn another £20,000 a year after tax that would do it. But that would mean increasing my income by around £40,000 to £50,000 a year pre-tax, which would be a challenge.

I’d have to work much harder, and I already work more than 45 hours a week and would miss out on actually having a life.