Sure, technically you might be able to live off this wage but lets not pretend it's a good deal compared to even a few years ago because it is not. Ultimately you will find that it is very difficult to live off 38k gross. A few years ago I found it difficult to live down south on 45k after the taxman, the student loans company, flying loan, repayments to parents, rent, bills and, increasingly these days, petrol. I almost invariably ended up using a credit card by the end of the month and not for anything luxurious romantic or extravagant! The big killer is the flying debt which soaked up nearly £1250/month (interest rates were, admittedly, higher back then).
Bear in mind I was a single guy with no other responsibilities. If you have kids its really not gonna cut the mustard.
Disclaimer: If you live like a hermit and never go out or do anything remotely enjoyable you will probably be fine.