want to save 15k as fast as possible

shadowcomplex

Of course this is going to be tough but I need to do it for my own personal reason.

I earn 650 into the hand after tax and here are my out goings every month

1.rent 240 including all bills
2.loan 360
3.phone 45

I also have 2k left to pay back on a 5k orthdontist treatment plan but I dont have a set amount for this every month

would like some advice as im clueless in this area

Oral Surgeon

shadowcomplex wrote: »

Of course this is going to be tough but I need to do it for my own personal reason.

I earn 650 into the hand after tax and here are my out goings every month

1.rent 240 including all bills
2.loan 360
3.phone 45

I also have 2k left to pay back on a 5k orthdontist treatment plan but I dont have a set amount for this every month

would like some advice as im clueless in this area

So you take home e650 per month??
Your listed bills are e645 per month??

Logical_Bear

at a guess its probably 650€ per week.

I'd like to think the OP realised he couldnt save 15k with 5€ spare each month!!

Oral Surgeon

shadowcomplex wrote: »

Of course this is going to be tough but I need to do it for my own personal reason.

I earn 650 into the hand after tax and here are my out goings every month

1.rent 240 including all bills
2.loan 360
3.phone 45

I also have 2k left to pay back on a 5k orthdontist treatment plan but I dont have a set amount for this every month

would like some advice as im clueless in this area

ok if 650 after tax per week= e2600 take home per month
After listed expenses (2600-645)= 1955 "extra" per month

You need e17000

17000/1955= 8.7 months to save this amount....

You'll gain small amounts with interest but don't factor it into your calculations...

It is highly unlikely that e645 is your only outgoings unless you live on fresh air and water so try to recalculate with these figures...

Good luck,
OS

shadowcomplex

Yes its 650 a week after tax and it would be more than 2600 a month because a month is more than 4 weeks, your missing 4 weeks in a year if you classify a month as being 4 weeks, 12x4 is only 48, so its actually 2816 a month. The expenses i listed are finite amounts, obviously I spend money on food and entertainment too but these are things open to change

shadowcomplex

I get paid 1300 every 2 weeks after tax so I was wondering if its feasible to save 100 percent of one paycheck a month and live and take care of my expenses with the other

Oral Surgeon

shadowcomplex wrote: »

I get paid 1300 every 2 weeks after tax so I was wondering if its feasible to save 100 percent of one paycheck a month and live and take care of my expenses with the other

I don't know, is it???!!! Really only you can answer that one. Just look at what you spent and saved for the past few weeks or is that months and figure it out.

You are asking can you spend 645 on expenses, spend 655 on "stuff" and have 1300 to save?? You really are not giving us much to work with here.... e.g. do you have a penchant for expensive wine, cigars and steak or do you save the pennies in Lidl?? Plan on any holidays? Car tax insurance coming up, medical insurance or expenses? house insurance?? Birthdays??.....

Get a spreadsheet together....

NIMAN

Only spend money on essential things and see how you get on, can't do any better than that.
Find it hard to believe you only have 3 outgoings each month!
€45 for a phone - there's a start, cancel that contract. Get a PAYG and stop sending unnecessary texts and making calls you don't have to.

If you have $ky TV, cancel it. Its overrated.

Do you have a car? If so, plan journeys so you can do many things on the one outing.

Have zero fun, sit in, do nothing except save money. You'll get there soon enough.

Its really all common sense. When you are buying something ask yourself "do I need this".

shadowcomplex

I have a 2 year contract with meteor , is it possible to cancel?

peteb2

sure it is. But you have to pay the remainder of the balance of the contract. so nothing to be gained there!

chris85

shadowcomplex wrote: »

I get paid 1300 every 2 weeks after tax so I was wondering if its feasible to save 100 percent of one paycheck a month and live and take care of my expenses with the other

Jaysus you are a bit brutal with this alright, You only have the answers to this.

Simple steps

• List your income
• Itemise all your outgoings (both fixed and projected for your variable outgoings such as food/socialising)
• Look at each item and see where you can reduce the cost
• Implement changes
• Calculate amount available each month
• Divide €15000 by the amount you have to spare each month
• You now have how many months it will take to save €15000

Oral Surgeon

chris85 wrote: »

Jaysus you are a bit brutal with this alright, You only have the answers to this.

Simple steps

• List your income
• Itemise all your outgoings (both fixed and projected for your variable outgoings such as food/socialising)
• Look at each item and see where you can reduce the cost
• Implement changes
• Calculate amount available each month
• Divide €15000 by the amount you have to spare each month
• You now have how many months it will take to save €15000

e17000- pay your ortho op....;)

uck51js9zml2yt

Oral Surgeon wrote: »

chris85 wrote: »

Jaysus you are a bit brutal with this alright, You only have the answers to this.

Simple steps

• List your income
• Itemise all your outgoings (both fixed and projected for your variable outgoings such as food/socialising)
• Look at each item and see where you can reduce the cost
• Implement changes
• Calculate amount available each month
• Divide €15000 by the amount you have to spare each month
• You now have how many months it will take to save €15000

e17000- pay your ortho op....;)

Spoken like a true dentist :-)