Genealogy Chat

This is a very fascinating subject.

There are a number of methods but the one used most often is based on purchasing power, or RPI. However, as Heather says, it is difficult to be completely accurate, and things we take for granted today never existed in the past, so how can you compare like with like?

The other thing that is not generally factored in is that over the years we have also become more wealthy as time goes by. For example we are twice as well off now as we were in 1950, and maybe 10-20 times more wealthy than in 1800.

All this means that £100 left to someone in 1800 meant a lot more to them than the equivalent £5,000 left to someone today.

I always think those sites are a bit iffy - I dont think they take into consideration the cost of every day items.

wow i have a will form 1750 where he leaves £120 for one son, £20 each for 6 grandchildren and £40 for his daughter

A pound from 1850 would be worth 82.37p

Clare

I have been sent a copy of a will from 1905 where the person left £33.0.0 . I found this website www.measuringworth(dot)com very useful to convert to todays value.Click on relative values - UK £.
The £33 would be worth £2,540 today.