How much of you wages do you save?

Mtx

I aim for at least 70% and that's after rent and bills paid for. I might as well save before getting a mortgage. I'm 25.

suicide_circus

You're doing well

Cee-Jay-Cee

About 1/4 of my wages after mortgage bills childcare food petrol tax insurance repairs maintenance blah blah blah

Sleepy

Fair play OP, I wish I'd had as much sense before I was married with kids, had I saved something then, I might be able to have savings now instead of just paying back loans!

thebull85

0

Creamy Goodness

About 50%. If you include rent and bills its closer to 70%

amcalester

About 50% since January so that I could buy a house, got mortgage approved on Friday so will probably be spending all of it for the next few months.

Before that about 30%, aiming to get back to that by the end of the year.

mimimcmc

Nada, don't have that luxury when living day to day

_Kaiser_

thebull85 wrote: »

0

Same Long commute + rent + bills + a little fella to support = not much left at the end of the month, and there always seems to be something unexpected that comes up

Oh well!

Trigger Happy

I have no income at present so don't save.
But am enjoying my savings at this time.

verycool

I suppose "better late than never" applies to me. Recently set up a DD to the credit union there.

Should be financially comfortable fifteen years after I die.

thebull85

_Kaiser_ wrote: »

Same Long commute + rent + bills + a little fella to support = not much left at the end of the month, and there always seems to be something unexpected that comes up

Oh well!

Same boat mate, l feel your pain, lucky to have 50 quid to go for a pint at the end of the week. Thank f**k i enjoyed my 20s

Tom Mann Centuria

Nothing or less than nothing, overdraft gets used if unexpected bills come in.

zell12

But de meeja says we are all living hand to mouth

Tell me how

Creamy Goodness wrote:

About 50%. If you include rent and bills its closer to 70%

Why would you include rent and bills as part of what you save?

Is Mr BinMan managing a stock portfolio for you?

Creamy Goodness

Tell me how wrote: »

Why would you include rent and bills as part of what you save?

Is Mr BinMan managing a stock portfolio for you?

Even second person mentioned their bills/rent I just gave a percentage of my wage, but you single mynpost out?

Tell me how

Creamy Goodness wrote:

Even second person mentioned their bills/rent I just gave a percentage of my wage, but you single mynpost out?

Yes. Yes I did.

Kevhog1988

33% of income of main wage and 100% of anything else i earn

Sin City

I cant even get my wages to last the month
Let alone save

ytpe2r5bxkn0c1

From our pensions we put about 25% in to deposits. Covers changing the cars, home improvements etc.

zl1whqvjs75cdy

Jorge Defeated Sandbox wrote: »

From our pensions we put about 25% in to deposits. Covers changing the cars, home improvements etc.

You raided your pension to buy a car?

Tell me how

Izabella Spicy Smallpox wrote:

You raided your pension to buy a car?

Keep up. That man is receiving his pension and is in the fortunate position to be able to save 25% of that payment.

_Kaiser_

thebull85 wrote: »

Same boat mate, l feel your pain, lucky to have 50 quid to go for a pint at the end of the week. Thank f**k i enjoyed my 20s

The REALLY depressing thing is that I'm on a supposedly "good wage", but the cost of living in this country is ridiculous - and for what? Piss-poor "services", crap infrastructure, and yet another property-related crisis (we've learned nothing!)

ytpe2r5bxkn0c1

donkeyoaty0099 wrote: »

You raided your pension to buy a car?

What? Read it again.

theteal

It used to be about 60%. Did that for a few years before I emigrated. Only recently spunked that fund on a house.

In the last few months I have saved exactly £50pm and that's just to accumulate a pot for a session in Edinburgh later in the Summer. I'd normally like to save quite a bit but there have been a few unexpected bills (as well as expected new bills) since moving into the house a few months back. So our proper saving is being done by the wife at present.

clio_16v

I'm currently studying so I spend about 200 a week more than i earn. Savings will be gone by the time I start work again

tobsey

thebull85 wrote: »

Same boat mate, l feel your pain, lucky to have 50 quid to go for a pint at the end of the week. Thank f**k i enjoyed my 20s

You’ll never save anything if you save at the end of the week/month. You have to do it at the start and train yourself to survive on what’s left. I’ve always been crap at saving and it’s only since I’ve had a deduction from wages straight to the credit union that I’ve managed to build up some savings

Mickeroo

100 goes to the credit union on a standing order every week then I try and spend as little as possible from what's left. I essentially pretend I earn 100 less a week than I do so even if I don't save much from what's left I don't feel too bad.

Donald Trump

thebull85 wrote: »

Same boat mate, l feel your pain, lucky to have 50 quid to go for a pint at the end of the week. Thank f**k i enjoyed my 20s

Might want to find a different pub if it's costing you 50 quid for a pint

beertons

Skimpy enough here. 50 a month to prizebonds, and 100 per month special savings account I only access when I've a big bill to pay. Painter, chippy or plumber. When I do get a little extra, I play around in Degiro with it, on penny stocks.

ytpe2r5bxkn0c1

Mickeroo wrote: »

100 goes to the credit union on a standing order every week then I try and spend as little as possible from what's left. I essentially pretend I earn 100 less a week than I do so even if I don't save much from what's left I don't feel too bad.

That used to be my philosophy when I worked. Plus, whenever I got a rise or promotion I always put a percentage of it into savings immediately, so I didn't get used to having it. It all mounted up over the years and enabled early retirement.

D3V!L

I save about a third of my salary every month. Its killing me at the moment but I need to get a mortgage within the next year.

Does using my cc instead of my laser count as saving?

ytpe2r5bxkn0c1

Deleted User wrote: »

Does using my cc instead of my laser count as saving?

As Laser Cards were replaced in 2014, no.

MilfordBud

A third but wedding's and stags are killing me at the moment, 6 in 3 months and none that can be refused really. Normally it's closer to half.

Jorge Defeated Sandbox

Jorge Defeated Sandbox wrote: »

As Laser Cards were replaced in 2014, no.

You’ve literally blown my mind, maybe I should pay more attention to these magical cards I carry around

cantdecide

My experience of these threads is that you get people who are doing well posting to lord it over the huddle masses and people who are fcuked posting to whinge about how the man is screwing them... I'm the latter

cantdecide

cantdecide wrote: »

My experience of these threads is that you get people who are doing well posting to lord it over the huddle masses and people who are fcuked posting to whinge about how the man is screwing them... I'm the latter

It also weeds out idiots like me who believed they have been using a laser card for the last 4 years

donegal.

Creamy Goodness wrote: »

About 50%. If you include rent and bills its closer to 70%

you can pay your rent and bills with 20% of your wages ?:eek:

Boom_Bap

Save?

Creamy Goodness

donegal. wrote: »

you can pay your rent and bills with 20% of your wages ?:eek:

it's actually closer to 15%, rent is quite low considering the area I live (30 minutes from Dublin CC). But judging by your handle you should know about cheap rents up in Donegal ��

Bills I have are;
Internet & TV (split three ways, I spend €30)
Phone (€25)
Light and heat (split three ways, roughly €40 every two months).
Petrol (€120).

thebull85

Donald Trump wrote: »

Might want to find a different pub if it's costing you 50 quid for a pint

I wouldnt bother going the pub with any less. 7 or 8 pints and maybe a bit of grub on the way home.

10000maniacs

I know this couple who are always whinging about how little they get in benefits as they crack open the gordons and tonic, light up their cigarettes and switch on their Sky Sports Q on their UHD television. They brought the whole family to Spain for a week in March. They could save a few bob from their benefits I think.
The state does not owe them this lifestyle. The man is not to blame for their financial woes.

mighty magpie

0. Paying off wedding loan, credit card, mortgage, rates and usual bills.

Aim to have student loan and zero debt (bar mortgage) in 11 months but there's a honeymoon to be sorted :-(

SEPT 23 1989

Shrouds have no pockets

_Puma_

On Payday quarter to savings, quarter to essential bills (Rent/electricity/Broadband).

Other half is split on non essential bills (car insurance/tax/health insurance/pension/mobile) and disposable income.

Anything left over at the end of the month is put into Credit Union.

Have been doing this for the past few years but am seeing less and less being available for Credit union as the cost of living is increasing and wage not keeping up. Disposable income outgoings has generally decreased as I'm getting older. Have started cutting out non essential bills (like TV, probably pension next).

Saving for a mortgage.

*Edit* Been keeping this system since the start of my professional career but another thing that is really a kick in the stomach is progressing to the higher rate of income tax. Any minor wage increases are now just been eating up the tax man and thanks to the higher cost of living year on year it seems things are just getting harder.

tobsey

_Puma_ wrote: »

On Payday quarter to savings, quarter to essential bills (Rent/electricity/Broadband).

Other half is split on non essential bills (car insurance/tax/health insurance/pension/mobile) and disposable income.

Anything left over at the end of the month is put into Credit Union.

Have been doing this for the past few years but am seeing less and less being available for Credit union as the cost of living is increasing and wage not keeping up. Disposable income outgoings has generally decreased as I'm getting older. Have started cutting out non essential bills (like TV, probably pension next).

Saving for a mortgage.

It makes no sense to stop paying into a pension just so you can keep paying into the credit union.

Graces7

SEPT 23 1989 wrote: »

Shrouds have no pockets

But funerals cost a lot...

Graces7

10000maniacs wrote: »

I know this couple who are always whinging about how little they get in benefits as they crack open the gordons and tonic, light up their cigarettes and switch on their Sky Sports Q on their UHD television. They brought the whole family to Spain for a week in March. They could save a few bob from their benefits I think.
The state does not owe them this lifestyle. The man is not to blame for their financial woes.

If they can stretch their pension to cover that, good for them.

_Puma_

tobsey wrote: »

It makes no sense to stop paying into a pension just so you can keep paying into the credit union.

Will be a more pressing need for a Credit Union pot which will be likely used in the short to medium term (House furnishings, wedding etc...)

One thing that has helped wiping out any disposable income I have is Car insurance. It has jumped over 100% in the past 3 years (€600 - €1300, no claims and NCB increasing every year) . I drive a well maintained car and keep it serviced every year (doing small jobs like oil myself) but am being crucified as it is now over 15 years old. So much for being rewarded for looking after you car. No need or desire to change it other than high insurance cost which is nuts.

Zascar

How the hell can anyone save 30%, 50% or more of their wages? Can someone break down you budget for me? You must live on thin air and have almost zero luxuries...