Money and Savings

A_Sober_Paddy

Hey all,

Was having a chat with a mate today, about how broke he was came up in conversation...

Now this guy has some expenditure like a car(Insurance, Tax & Petrol), also does a bit like going to the gym and plays indoor soccer...Now this guy said at least he has a fairly solid savings account as a backup until he starts his new job...

Despite being broke he can still manage to put a little of his dole money away each week. He then told me his savings are in and around the 4 figure mark...For a guy whose been out of work for a while i thought was good...

But this conversation got me thinking of a few other people I know, who have worked full time for the last 2-3 years with no savings who live paycheck to paycheck...

In the last 5 years(60 Months) I've worked full time for 17 months, unemployed for 24 months, in Oz for 4 months and working part time for 15 months(mostly this was 5-12 hours a week)...

Now I've savings in the region of 5 figures and I still a manage to pay all my bills on time and aim to save a bit each month, and I just can't understand how people manage their money so poorly in this country, especially since there are so few jobs about I'd have imagined people would try and be more careful with their money in case they lost their jobs...

Is it just me who thinks like this?

What sort of savings to people on here have? Or do you just live payday to payday?

Specialun

Nosey ba$tard

wazky

The social welfare is the place to be, basically everything for nothing and free money every week.

It's the middle class who get hammered.

Specialun

What if i have 1000.50.

What do i tick then

A_Sober_Paddy

wazky wrote: »

The social welfare is the place to be, basically everything for nothing and free money every week.

It's the middle class who get hammered.

I know, when i was on the dole had loads of time for sleep, cycling and the gym and managed to keep myself a whole lot more productive than I can be while working full time

A_Sober_Paddy

Specialun wrote: »

What if i have 1000.50.

What do i tick then

Use your best judement:D

monflat

op have you dependants ? Or just yourself to look after .

Have you a mortgage , health insurance? Do you fully pay the bils where u live or do you all share ???

Sh1tbag OToole

With a name like A_Sober_Paddy you probably think its easy to save but feck is most Paddys are far from sober and used to spending 100 quid or more on a night out. Overpriced drinks, pay to get into a nightclub, taxi home, maybe sit in a restaurant where someone puts a bit of white cloth on your lap before it.

Then ya have to get a morekesh and spend 30 odd k on a brand new car to save 200 quid a year on tax to be with the cool kids

orangesoda

I am about to finish university with £850 in overdraft, not a sixpence in savings

A_Sober_Paddy

monflat wrote: »

op have you dependants ? Or just yourself to look after .

Have you a mortgage , health insurance? Do you fully pay the bils where u live or do you all share ???

No dependents myself, all my friends who I've mention also have no dependents and are in the same boat as myself pretty much...

Bills are shared, but in saying that I pay more for my tv and internet for my half than my mother...as i went for a better package

A_Sober_Paddy

Sh1tbag OToole wrote: »

With a name like A_Sober_Paddy you probably think its easy to save but feck is most Paddys are far from sober and used to spending 100 quid or more on a night out. Overpriced drinks, pay to get into a nightclub, taxi home, maybe sit in a restaurant where someone puts a bit of white cloth on your lap before it.

Then ya have to get a morekesh and spend 30 odd k on a brand new car to save 200 quid a year on tax to be with the cool kids

I'm sober by Irish standards when I opened this account, but I've started to drink a little bit more in recent months, like I was out twice in the last week...I also live in the city centre so taxi's aren't really needed for me

monflat

A_Sober_Paddy wrote: »

No dependents myself, all my friends who I've mention also have no dependents and are in the same boat as myself pretty much...

Bills are shared, but in saying that I pay more for my tv and internet for my half than my mother...as i went for a better package

Ok great enjoy those times

When you have dependants a mortgage health insurance and all the hpusehold bills to pay on ur own youl realise you have **** all savings.

Both myself n d husband work.

Middle income family .
100 euro to our name. Savings is that what its called ???

Frosty McSnowballs

If your mother went for a better package....maybe you wouldn't be here....heyoooooooo!

Senna

If you have been out of work for a period of time you will have an apprication for money when you do have it and make an effort to save.
People who have never been out of work might be inclined to live wage packet to wage packet and save less.

monflat

Senna wrote: »

If you have been out of work for a period of time you will have an apprication for money when you do have it and make an effort to save.
People who have never been out of work might be inclined to live wage packet to wage packet and save less.

Not necessarily
In my case if we had a spare few pound after all the bills n childmindin fees we would put it away.

Depends on how much peoples necessary expenditure is

Micky Dolenz

15K is feck all in fairness.

*Sips cognac*

A_Sober_Paddy

Senna wrote: »

If you have been out of work for a period of time you will have an apprication for money when you do have it and make an effort to save.
People who have never been out of work might be inclined to live wage packet to wage packet and save less.

But even when i started work part time I always tried to budget to save 25% of my pay...

Also to the people who have mortgages, it was their choice to get a mortgage, I'd never consider getting a mortgage unless i'd be able to put up 50% percent minimum...

Also the amount of people who have multiple kids despite not being able to afford even one is something that boggles the mind...

Sh1tbag OToole

A_Sober_Paddy wrote: »

Also the amount of people who have multiple kids despite not being able to afford even one is something that boggles the mind...

It's only working people that can't afford to have kids.

Olive8585

I can't imagine how you could have savings into 5 figures while working so little. I work full-time and have very, very little left at the end of the month. I don't do anything particularly extravagant. I bought 2 pairs of jeans and a top from Primark today and feel guilty about it. What's your trick?

bikeman1

Jaysus man, you can't bring it with you!

I don't have a big nest egg, but don't live month to month. Have a couple of grand in case I need it (for what I don't know). I enjoy spending my hard earned wages on after the basic expenditures on:

Making the house nice, going on holidays, spending it on my hobbies, enjoying nights out with my partner and friends etc etc.

whirlpool

A_Sober_Paddy wrote: »

Hey all,

Was having a chat with a mate today, about how broke he was came up in conversation...

Now this guy has some expenditure like a car(Insurance, Tax & Petrol), also does a bit like going to the gym and plays indoor soccer...Now this guy said at least he has a fairly solid savings account as a backup until he starts his new job...

Despite being broke he can still manage to put a little of his dole money away each week. He then told me his savings are in and around the 4 figure mark...For a guy whose been out of work for a while i thought was good...

But this conversation got me thinking of a few other people I know, who have worked full time for the last 2-3 years with no savings who live paycheck to paycheck...

In the last 5 years(60 Months) I've worked full time for 17 months, unemployed for 24 months, in Oz for 4 months and working part time for 15 months(mostly this was 5-12 hours a week)...

Now I've savings in the region of 5 figures and I still a manage to pay all my bills on time and aim to save a bit each month, and I just can't understand how people manage their money so poorly in this country, especially since there are so few jobs about I'd have imagined people would try and be more careful with their money in case they lost their jobs...

Is it just me who thinks like this?

What sort of savings to people on here have? Or do you just live payday to payday?

In the past 5 years you've worked full time for no more than 17 months and you have savings that are in five figures?

Your outgoings must not be the outgoings of a regular person, for the past 5 years. i.e. there's no way you could be paying your fair share of full rent and full bills, and you must be scrimping on important things like health insurance and food.

Have you honestly been paying your fair share of rent and bills, and eating properly? Have you honestly not had any financial help from anyone? ....besides the times you were on the dole, at which times it must have been doubly as difficult to pay your fair share of outgoings and staying healthy (decent food, medical expenses, etc.)

What am I missing here?

monflat

A_Sober_Paddy wrote: »

But even when i started work part time I always tried to budget to save 25% of my pay...

Also to the people who have mortgages, it was their choice to get a mortgage, I'd never consider getting a mortgage unless i'd be able to put up 50% percent minimum...

Also the amount of people who have multiple kids despite not being able to afford even one is something that boggles the mind...

So those " taxpayers " that have children
And educate them to get a good careers and therefore become tax payers themselves
who in turn ARE Keeping people like you with that attitude on the dole.

Right time you realised how most of the middle class poor live.

A_Sober_Paddy

Olive8585 wrote: »

I can't imagine how you could have savings into 5 figures while working so little. I work full-time and have very, very little left at the end of the month. I don't do anything particularly extravagant. I bought 2 pairs of jeans and a top from Primark today and feel guilty about it. What's your trick?

I aim to save as much as I can, when i was on the dole I saved at least 20€ a week...so in those 2 years I managed to save roughly 2 grand...I find it harder to safe while working as I've added expenses like higher rent & bills...Also with work I find myself spending more on my down time as I feel I need it alot more than when I was unemployed, not much stress when unemployed, but at times the working live can be stressful

monflat

A_Sober_Paddy wrote: »

I aim to save as much as I can, when i was on the dole I saved at least 20€ a week...so in those 2 years I managed to save roughly 2 grand...I find it harder to safe while working as I've added expenses like higher rent & bills...Also with work I find myself spending more on my down time as I feel I need it alot more than when I was unemployed, not much stress when unemployed, but at times the working live can be stressful

So would i be right to say you fit into the age group of 18- 25 yrs

Talib Fiasco

I'm just about to leave my teen years and I have five figures in a savings account that won't need to be touched for some time hopefully.... I have to laugh at my friends too sometimes. They haven't a penny of savings yet they still go out weekly and spend crazy amounts of money on drink etc. yet always struggle to pay pills and complain how broke they are.... Now I myself spend a fair bit on nights out but that's because I can afford to. If I had less than a grand to my name I would be seriously considering every euro I spend nevermind no savings.

A_Sober_Paddy

whirlpool wrote: »

In the past 5 years you've worked full time for no more than 17 months and you have savings that are in five figures?

Your outgoings must not be the outgoings of a regular person, for the past 5 years. i.e. there's no way you could be paying your fair share of full rent and full bills, and you must be scrimping on important things like health insurance and food.

Have you honestly been paying your fair share of rent and bills, and eating properly? Have you honestly not had any financial help from anyone? ....besides the times you were on the dole, at which times it must have been doubly as difficult to pay your fair share of outgoings and staying healthy (decent food, medical expenses, etc.)

What am I missing here?

I've not taken money from my parents since third year(except for school books and my leaving cert fees)...

My family didn't have much money when I was growing up, we were always given much better than my parents could possibly afford. As I got a little older i realized this I took the approach that school tours to France were something I didn't want to do, cause I could not afford them and my parents certainly couldn't I didn't wish to put them under pressure.

I had a few part time jobs during school and the summer, worked full time for a year between college and leaving cert, enough to pay my registration...But eventually got a grand to cover college for me which did help, but a lot of people who i hung around with in college got the same grands as me(some got larger ones)...I worked part time(2 days a weeks) in college for the most part

Then I guarduated and went to oz for 4 months came home on the dole for 2 years until i go my job which started as part time and then full...Actually those 17 months weren't all full time, only 12 months now that i think of it...

I've always done my best to budget, despite Oz costing my a fortune(My biggest mistake ever from a money stand point, but learnt alot about myself over there)

Temptamperu

Ha! savings?

A_Sober_Paddy

monflat wrote: »

So would i be right to say you fit into the age group of 18- 25 yrs

Just turned 26 last month mate, was on 144€ when I was drawing the dole

Stavros Murphy

A_Sober_Paddy wrote: »

I've not taken money from my parents since third year(except for school books and my leaving cert fees)...

........insert waffle...

Then I guarduated and went to oz for 4 months came home on the dole for 2 years until i go my job which started as part time and then full...Actually those 17 months weren't all full time, only 12 months now that i think of it...

I've always done my best to budget, despite Oz costing my a fortune(My biggest mistake ever from a money stand point, but learnt alot about myself over there)

I wish to adopt you, where do I apply? Mine are profligate fcukers that seem to be under the impression I'm a millionaire despite my best efforts to claim poverty.

monflat

A_Sober_Paddy wrote: »

Just turned 26 last month mate, was on 144€ when I was drawing the dole

Ah surw.tis great these days on the dole. People can actually save money.
Theres another.thread on AH where a fella on the dole bought a 141 focus.

I must go now . Working tomorrow.
Where 1500 of my monthly wages goes on taxes.

God would i be better on the dole=.YES
BUT i wont get dole if i " leave" my job.





I.

keith16

Do you know what annoys me about savings?

It's my money that I choose to save. This is money I take from my salary. A salary which is taxed quiet a bit.

So these savings from my net pay go into an account.

Last month, I earned approx 300 euro in interest on my savings. This money was taxed. I lost around 140 to DIRT. I think this is lousy.

If I spend money, it is taxed.
If I earn money , it is taxed.
If I save money, it is taxed.

I realise this is a simple assessment of things, but it's annoying me. I wish the gov would at least stay out of my bank account.

A_Sober_Paddy

Stavros Murphy wrote: »

I wish to adopt you, where do I apply? Mine are profligate fcukers that seem to be under the impression I'm a millionaire despite my best efforts to claim poverty.

It seems I'm 1 in a million in this regard...I told one of the girls in work this a while back to which she said that her 30 year daughter still need money off her on a regular basis...I just felt that It was a responsible approach from me, as i know my parents are pretty poor with money to be honest, rarely would they put their foot down and say no, on a regular basis

Micky Dolenz

keith16 wrote: »

Do you know what annoys me about savings?

It's my money that I choose to save. This is money I take from my salary. A salary which is taxed quiet a bit.

So these savings from my net pay go into an account.

Last month, I earned approx 300 euro in interest on my savings. This money was taxed. I lost around 140 to DIRT. I think this is lousy.

If I spend money, it is taxed.
If I earn money , it is taxed.
If I save money, it is taxed.

I realise this is a simple assessment of things, but it's annoying me. I wish the gov would at least stay out of my bank account.

That is the price you pay for living in the 1st world.

Stheno

monflat wrote: »

Ah surw.tis great these days on the dole. People can actually save money.
Theres another.thread on AH where a fella on the dole bought a 141 focus.

I must go now . Working tomorrow.
Where 1500 of my monthly wages goes on taxes.

God would i be better on the dole=.YES
BUT i wont get dole if i " leave" my job.





I.

I prefer to think of how many people my tax supports

It's 814e per month in taxes to pay one person 188e of dole per week

Temptamperu

Lads save nothing dont buy a house and get in as much debt as you can! it cant follow you below the sod you know.

Stavros Murphy

keith16 wrote: »

Do you know what annoys me about savings?

It's my money that I choose to save. This is money I take from my salary. A salary which is taxed quiet a bit.

So these savings from my net pay go into an account.

Last month, I earned approx 300 euro in interest on my savings. This money was taxed. I lost around 140 to DIRT. I think this is lousy.

If I spend money, it is taxed.
If I earn money , it is taxed.
If I save money, it is taxed.

I realise this is a simple assessment of things, but it's annoying me. I wish the gov would at least stay out of my bank account.

Then you die, and what you leave is taxed..:(

A_Sober_Paddy

monflat wrote: »

Ah surw.tis great these days on the dole. People can actually save money.
Theres another.thread on AH where a fella on the dole bought a 141 focus.

I must go now . Working tomorrow.
Where 1500 of my monthly wages goes on taxes.

God would i be better on the dole=.YES
BUT i wont get dole if i " leave" my job.





I.

Yes the dole is certainly too high if you've no dependents i was able to live quite comfortable...thankfully I've off tomorrow not back until Tuesday:D

Temptamperu wrote: »

Lads save nothing dont buy a house and get in as much debt as you can! it cant follow you below the sod you know.

I'm a fella for the record

Stheno

A_Sober_Paddy wrote: »

Yes the dole is certainly too high if you've no dependents i was able to live quite comfortable...thankfully I've off tomorrow not back until Tuesday:D

Just out of curiosity what are your outgoings now ref

Rent
Food
ESB/GAS/Rubbish/Internet
Socialising

Stavros Murphy

This thread is a bit "where did you shyte last??", or is that just me?

Plazaman

*Adjusts Monocle.

Haha, peasants. When I started work many moons ago I opened up a credit union account and got a direct debit of £5 now €5 per week into it. I'm sure there must be a couple of thou in there now. Although I did invest in Valkrainian Zlotys as a currency speculation which I think may have either increased in value or have disappeared off the face of the earth.

Still, no pain, no gain.

monflat

Stheno wrote: »

Just out of curiosity what are your outgoings now ref

Rent
Food
ESB/GAS/Rubbish/Internet
Socialising

He does not socialise sure he has 4k in savings.
Rent= 25e a week 10 of em living together
Bills 50
Socialising = 0 .00

Savings = 69 e per week

monflat

Stavros Murphy wrote: »

This thread is a bit "where did you shyte last??", or is that just me?

Two things spring to mind


Peel an orange in his pocket

Tight as a ducks arse ....

SCOOP 64

monflat wrote: »

Ah surw.tis great these days on the dole. People can actually save money.
Theres another.thread on AH where a fella on the dole bought a 141 focus.

I must go now . Working tomorrow.
Where 1500 of my monthly wages goes on taxes.

God would i be better on the dole=.YES
BUT i wont get dole if i " leave" my job.

On a other thread on AH a couple months back, a bloke works opp dole office, all he sees allday is brand new cars, some are Ferrari's, Porsche's out side dole office people signing on ,don't know if its true or not.

A_Sober_Paddy

Temptamperu wrote: »

Lads save nothing dont buy a house and get in as much debt as you can! it cant follow you below the sod you know.

Stheno wrote: »

Just out of curiosity what are your outgoings now ref

Rent
Food
ESB/GAS/Rubbish/Internet
Socialising

At the moment

Rent €260(a month)
Food €350(a month)*
Bills €85(a month)
Socializing €500(a month)*

*estimated, they are different month to month...But I try and make it all my LOI teams home games and away games that work allows, recently I've been heading out twice a week of late, been at a few gigs too of late also included my gym membership and cinema visits which a quiet frequent

I've not been keeping a budget for the last few months like i used too but i'll be starting again soon

A_Sober_Paddy

monflat wrote: »

He does not socialise sure he has 4k in savings.
Rent= 25e a week 10 of em living together
Bills 50
Socialising = 0 .00

Savings = 69 e per week

I'm currently working no longer on the dole, live with one mate in the city centre apartment

monflat

SCOOP 64 wrote: »

On a other thread on AH a couple months back, a bloke works opp dole office, all he sees allday is brand new cars, some are Ferrari's, Porsche's
out side dole office people signing on ,don't know if its true or not.

Sure it probably is op is only a few yrs on the savings acc oh sorry dole .
So if he had another few yrs on dole there could be a possibility of purchasing
But he rather see his money pile high.

Stheno

A_Sober_Paddy wrote: »

At the moment

Rent €260(a month)
Food €350(a month)*
Bills €85(a month)
Socializing €500(a month)*

*estimated, they are different month to month...But I try and make it all my LOI teams home games and away games that work allows, recently I've been heading out twice a week of late, been at a few gigs too of late also included my gym membership and cinema visits which a quiet frequent

I've not been keeping a budget for the last few months like i used too but i'll be starting again soon

That totals ups to €1195 per month which I assume you were not spending on the dole

350e per month on food is shocking imo for one person!

Your rent and bills however are very low, those would be next to impossible in Dublin even in a rented room in a house, so you are on a low cost base compared to about a third of the population who live in Dublin

Makes a good case for introducing a differential for the greater Dublin area

Do you still live at home?

Captain Chaos

For me that would be.

Rent €950 pm
Food €400 pm
Bills €200 pm
Socializing €50 pm

That's one person living in Dublin.

Chareth Cutestory

€520 a month for a 2 bed city centre apartment?

A_Sober_Paddy

Stheno wrote: »

That totals ups to €1195 per month which I assume you were not spending on the dole

350e per month on food is shocking imo for one person!

Your rent and bills however are very low, those would be next to impossible in Dublin even in a rented room in a house, so you are on a low cost base compared to about a third of the population who live in Dublin

Makes a good case for introducing a differential for the greater Dublin area

Do you still live at home?

City centre apartment, food is only an estimation, i eat a lot of nuts i could spend €30 a week on nuts as i said its an estimation, i also enjoy a couple of fillet steaks too

monflat

Chareth Cutestory wrote: »

€520 a month for a 2 bed city centre apartment?

What city thou ? Waterford ? Cork ? Galway ?
At that price its not dublin