How much money are you saving a week?

wretcheddomain

If any?

Just saw this article on people's lack of confidence in saving their cash.

http://www.thejournal.ie/irish-people-feel-less-confident-saving-1224397-Dec2013/?utm_source=facebook_short

So do you end up saving anything at all, or has the recession left you penniless and struggling to make ends meet?

Obviously no need for specifics but a private poll is thrown up there anyway.

sligoface

+1 for penniless and struggling to make ends meet. But I'm happy cuz Enda was on the telly and said we're all sorted now.

DirtyBollox

about tree fiddy

wretcheddomain

DirtyBollox wrote: »

about tree fiddy

I should have had that as a poll option

Alf Veedersane

Including pension?

wretcheddomain

Alf Veedersane wrote: »

Including pension?

Don't be cheating!

fussyonion

I put away €100 a week usually.
I now have enough money for Christmas and our summer holiday.
It's been tough saving that much and there've been weeks when we couldn't do it, but making a sacrifice is what it's all about.
Thank God for Aldi!!!!

ScumLord

I'm saving barrows of turf, it's brown money and it'll be worth much more once everything goes tit's up.

Alf Veedersane

wretcheddomain wrote: »

Don't be cheating!

Well, I reduced what I was saving by the amount of pension I was putting away. Til then it was about 75/week

brevity

€250 a month which works out at about €57

I should try and get a pension sorted but they confuse me.

dmc17

Well, I run the gas of the electricity and the electricity off the gas and I save about 50 cents a week

Akrasia

I tried to put away a hundred quid a month but I kept having to take money out to pay for things like food and transport and rent and other luxuries
After a year of saving I have 0.01 in my savings account and 18.63 in my current account.

the_monkey

I know guys in BCN that can save all they earn bar €50 a month ....

I guess I should post in the stingey thread...

TPD

I put about 200 a month into the credit union as soon as the wages are in. Other than that ill put in about 25 a week, and whatever's left over of last months pay. 75-100 a week. Pension is taken before I get a look in.

fits

Should save more. Put some in a deposit account that's not so easy to access. Rest goes into an easy access account which I can dip into for occasional expenses. There's nearly enough in that at moment so I should switch more to go to other account.

Bog Standard User

wretcheddomain wrote: »

I should have had that as a poll option

you left out atari jaguar games left me broke option too....for shame my friend for shame :mad:

jjbrien

Have to have money to save money. I end up being pennyless at the end of the week. Planning to emigrate next year so we will have to make big cuts to our budget

Bog Standard User

jjbrien wrote: »

Have to have money to save money. I end up being pennyless at the end of the week. Planning to emigrate next year so we will have to make big cuts to our budget

tax dodger - if more leave how will enda top up his pension?

wretcheddomain

jjbrien wrote: »

Have to have money to save money. I end up being pennyless at the end of the week. Planning to emigrate next year so we will have to make big cuts to our budget

So how would you pay for a ticket and living expenses while looking for work?

jjbrien

wretcheddomain wrote: »

So how would you pay for a ticket and living expenses while looking for work?

Well sell car etc hate having to liqudate the stuff i got

Alpha Dog 1

Pointless saving these days with low interest rates and increasing inflation rates.

davo2001

Alpha Dog 1 wrote: »

Pointless saving these days with low interest rates and increasing inflation rates.

So just blow it all you say, I like the cut of your jib, although the wife might have something to say about that! :P

wretcheddomain

Surprised 30% of those polled save absolutely nothing per week - didn't think it'd be that high a % to be honest...

pwurple

Alpha Dog 1 wrote: »

Pointless saving these days with low interest rates and increasing inflation rates.

How are things over there in opposite land?

Inflation rate is decreasing. CSO reported 0.3% Nov 2013
Source:
http://www.tradingeconomics.com/ireland/inflation-cpi


Savings accounts can be had for ~3.5% AER
http://www.kbc.ie/personal/savings/regular


Unless my sums are funny, 3.5 is greater than 0.3.

Sleepy

I'm managing to keep the head above water whilst clearing old debts at a fairly high rate so, whilst not saving, I'm improving my net worth month on month. Once the debts are gone, I plan to put that level or higher away each month to get saving for a deposit.

Wabbit Ears

Id love to save money but seriously, I cut back on one thing and a few others creep up and cancel those small savings out.

Alpha Dog 1

pwurple wrote: »

How are things over there in opposite land?

Inflation rate is decreasing. CSO reported 0.3% Nov 2013
Source:
http://www.tradingeconomics.com/ireland/inflation-cpi


Savings accounts can be had for ~3.5% AER
http://www.kbc.ie/personal/savings/regular


Unless my sums are funny, 3.5 is greater than 0.3.

Yes but over a 10 year period inflation rates are likely to be at 5% while you best you will get on interest will be around 2.5%.
Don't forget DIRT is 41%.

o1s1n

Alpha Dog 1 wrote: »

Yes but over a 10 year period inflation rates are likely to be at 5% while you best you will get on interest will be around 2.5%.
Don't forget DIRT is 41%.

It's a tough one. I always get pissed off when I see how much DIRT tax I get hit with. Would almost make you wonder what the point is.

However, there is still a safety net type security which comes from having savings. For that reason alone I'll continue to squirrel away as much as I can each month - just in case.

Mint Aero

I put away 50% of my income

wretcheddomain

Mint Aero wrote: »

I put away 50% of my income

I'll assume you have no income. :pac:

o1s1n

How many squares is 50% of a Mint Aero? :pac:

wretcheddomain

o1s1n wrote: »

How many squares is 50% of a Mint Aero? :pac:

You'd have to break the rectangular aero piece into 3 squares. If there are 8 pieces in the aero bar then 12 squares constitutes 50% of a Mint Aero.

Jagdtiger

ScumLord wrote: »

I'm saving barrows of turf, it's brown money and it'll be worth much more once everything goes tit's up.

Come the next world war and you'll be raking in the money...

Teyla Emmagan

Not a red cent.

gramar

I only spend about half of my monthly salary on the mortgage, bills etc.

The missus takes the other half.

Galwayguy35

I use nearly all my wages in the week paying bills, I'm putting about €20 aside weekly as savings though.

Penny Tration

Except for at Christmas time, when all my savings and wages are spent on presents, I save about a hundred a month. I only get about 260 a week and have to pay rent, work travel costs and bills, so can't afford to save more just yet. Whenever I get a bonus, which is usually a hundred euro, I save that, too.

draiochtanois

This post has been deleted.

liliq

I aim for €100/month but its usually less.

Antar Bolaeisk

I'm currently saving about 90% of my income in a couple of different areas which isn't too bad.

The Rad Runner

Mortgage paid in full in a little over 18 months so I may dig up this thread again then

EDIT: At the moment nothing

Teyla Emmagan

Not a red cent.

Raminahobbin

40 goes into my 'do not touch on pain of death' account that's locked up tight and a pain to get to.

30 goes into an account from which I'll allow myself pay big stuff that might crop up once a year, like car insurance or a weekend away or something unexpected.

25 goes into an extra account that is used to top up my weekly expenses- birthday presents, unplanned nights out, additional petrol etc.

They're my savings type accounts, I have 3 more but they're for other stuff! I'm a bit of an account whore.

Xidu

2013 whole year saved around 20k, so just about 400/week. But it's all going into building our house, so we had 0 savings for 2013. After the house finished we will be -150k at least.

UCDVet

Good News - I save all of my income.
Bad News - I have no income.

ytpe2r5bxkn0c1

It was always recommended that you had at least 3 months net salary in savings, so you have enough to fall back on in an emergency or due to unemployment. Easier said than done but strangely when you get to that figure it seems easier to build on it.

CrabRevolution

Raminahobbin wrote: »

40 goes into my 'do not touch on pain of death' account that's locked up tight and a pain to get to.

30 goes into an account from which I'll allow myself pay big stuff that might crop up once a year, like car insurance or a weekend away or something unexpected.

25 goes into an extra account that is used to top up my weekly expenses- birthday presents, unplanned nights out, additional petrol etc.

They're my savings type accounts, I have 3 more but they're for other stuff! I'm a bit of an account whore.

When I first read that I thought those were percentages, but realised you'd have to be making a serious amount of money to be able to put at least 95% of your weekly earnings away and still have enough left for another 3 accounts, plus living expenses.....

Carpet diem

Antar Bolaeisk wrote: »

I'm currently saving about 90% of my income in a couple of different areas which isn't too bad.

That is impressive. You must be rent free?

Irishcrx

Depends on the month I try for a minimum of €150 a month, some month's when I don't have ESB, car tax etc it can be €500 plus. I spent a long time not managing money correctly of budgeting and as a result I never had any money , spent it on crap and when something happend I was stuck and it gets really frustrating. So I started putting some away , when I get paid I pay all my bills , mortgage straight away work out what's left, allocate X amount per week and take that out on a certain day in cash and thats my weeks money so food, petrol, lunch etc, take an excess of 50 quid or so that I can dip into through the month and everything else goes into my savings.

It works for me anyway and have a few quid in the bank now, income vs outgoings is differant for everyone of course on how much they can afford to save and have in free cash flow. But I'd advise anyone who hasn't to budget , look at all their outgoings and what can be cut out or saved on. I saved a small fortune by looking deep at my finances,chopping and changing insurance etc.

I think you should change the poll to savings per month rather than week.

The options at the higher end are very high. €200 per week means €800 per month which is very hard to do an average salary without curtailing your lifestyle quite significantly

Cookie_Monster

275 or so, 47% of income - though we are saving to start building a house in Feb so it's a little higher than normal.