How much money have you?

Jimmy_oc1998

realdanbreen wrote: »

Keeping the revenue guys a small bit in the dark does no harm either.

All my earnings have been through PAYE.

facehugger99

Jimmy_oc1998 wrote: »

If you want to tell yourself that I'm lying that's fine. But facts are facts.

What good is €78k in the bank?

Go out and spend it on coke and hookers and then come back and tell us how you got on.

Tiddlypeeps

DEFTLEFTHAND wrote: »

Why is it so unbelievable to some that a 28 yr old could have 80k in the bank?

It'd be rare for a 28 year old to have that much cash on hand, but it's not that unbelievable. It's the 21k in a year (technically possible, but would be very tough) coupled with the newness of the OP's account that's probably got people suspicious.

I don't see the point in people making such a big deal of insisting it's fake tho, it's just a meaningless internet post that, fake or not, has no actual impact on anything.

Deebles McBeebles

I'm still worried about how the thread title is phrased.

Keyzer

Jaysis lads, lay off old Jimmy... poor son of a bitch is only looking for a bit of advice.

realdanbreen

As an aside, a guy recently asked me to convert €8000 in fivers into bigger notes, 20's & 50's. He gave me €1200 for doing so. No questions were asked and everyone was happy.

DEFTLEFTHAND

realdanbreen wrote: »

As an aside, a guy recently asked me to convert €8000 in fivers into bigger notes, 20's & 50's. He gave me €1200 for doing so. No questions were asked and everyone was happy.

Be careful, you could get done for money laundering.

There's reams of new legislation on this.

realdanbreen

DEFTLEFTHAND wrote: »

realdanbreen wrote: »

As an aside, a guy recently asked me to convert €8000 in fivers into bigger notes, 20's & 50's. He gave me €1200 for doing so. No questions were asked and everyone was happy.

Be careful, you could get done for money laundering.

There's reams of new legislation on this.

I have no reason to believe that the money was not legit.

iamwhoiam

realdanbreen wrote: »

I have no reason to believe that the money was not legit.

Why didn't he go to a bank then ?

MadYaker

I think there's a fiver under the front seat of my car? I rarely carry money on me any more.

mickdw

realdanbreen wrote: »

DEFTLEFTHAND wrote: »

realdanbreen wrote: »

As an aside, a guy recently asked me to convert €8000 in fivers into bigger notes, 20's & 50's. He gave me €1200 for doing so. No questions were asked and everyone was happy.

Be careful, you could get done for money laundering.

There's reams of new legislation on this.

I have no reason to believe that the money was not legit.

If you got 15 percent to just turn it into different notes, the laundrette was open for business.

Alpha_zero

What sad and pathetic lives we endure, scratching out an existence in the dirt.

Stratvs

How much money have you?

Not so little that it causes worry about paying bills and looking after the family.
Not so much that it causes worry about what to do with it, what it's making, how it's invested.
All in all I'd say, just enough to not be worried about it.

I'm comfortable. I'm not an extravagant person and I'm sensible.

OP, living miserably to have numbers in the bank isn't wise. You're only young once. Save for the future but enjoy the present too.

Sciprio

At the moment just over four grand in savings in my Credit Union account and save there(Have a bank account but thats for getting paid and buying online) and i put a €100 a week into that savings. I am planning on buying a car in a couple of months so it won't last long but i am addicted to saving and have done for years. It's just me so no one else to care for.

Obvious Desperate Breakfasts

Not even enough money to cover my funeral, something that I unfortunately need to start saving for. Not an expense I expected in early adulthood. I have about half the amount I’ll need. It’s hard to save for though - hmmm... should I go on holiday or save up for a hole in the ground and a large box? Decisions, decisions.

JeffKenna

Obvious Desperate Breakfasts wrote: »

Not even enough money to cover my funeral, something that I unfortunately need to start saving for. Not an expense I expected in early adulthood. I have about half the amount I’ll need. It’s hard to save for though - hmmm... should I go on holiday or save up for a hole in the ground and a large box? Decisions, decisions.

I think if you have an amount in the credit union they give money to your next of kin on death to cover just that. Be worth checking it out.

Geuze

DEFTLEFTHAND wrote: »

Why is it so unbelievable to some that a 28 yr old could have 80k in the bank?

It's not.

I had similar amounts, although I had been gifted substantial sums.

bells of shandon

Obvious Desperate Breakfasts wrote: »

Not even enough money to cover my funeral, something that I unfortunately need to start saving for. Not an expense I expected in early adulthood. I have about half the amount I’ll need. It’s hard to save for though - hmmm... should I go on holiday or save up for a hole in the ground and a large box? Decisions, decisions.

Never worry about funeral expenses, They will bury you for your smell alone. The Corporation Sanitary Dept takes care of such issues.

Mr_Muffin

About 25k saved over the last 3 years since finished college and started working. I don't have any expensive hobbies and paid cash for my car to avoid getting a loan. I try to save 1250 euro a month, but some months I might have more outgoings etc.

pgj2015

why would you not have the "78k" in a bank? where would you put it, under your mattress for someone to rob. invest it in some scam where you end up loosing half it. keep it in the bank, then when you have enough, buy a house with it.

Ruraldweller56

pgj2015 wrote: »

why would you not have the "78k" in a bank? where would you put it, under your mattress for someone to rob. invest it in some scam where you end up loosing half it. keep it in the bank, then when you have enough, buy a house with it.

Exactly. I see lots of folk on here seem to be making a thing of the fact it's 'sitting in a current account' or whatever. I have similar amounts and listen to the same thing but no one seems to be able to tell me where this magic hole is where I can just leave it and it doubles in 5 years.

MadYaker

pgj2015 wrote: »

why would you not have the "78k" in a bank? where would you put it, under your mattress for someone to rob. invest it in some scam where you end up loosing half it. keep it in the bank, then when you have enough, buy a house with it.

Inflation reduces the purchasing power of your 78k as the years go by if it's in a current account and not accruing interest. Use a savings account instead like all sensible people. Having that much money in your current account is stupid for many reasons.

pgj2015

MadYaker wrote: »

Inflation reduces the purchasing power of your 78k as the years go by if it's in a current account and not accruing interest. Use a savings account instead like all sensible people. Having that much money in your current account is stupid for many reasons.

no point having it in a savings account if you might need it at any time.

Still waters

At this moment in time I've 52 euro in one account and I'm gone 5600 into my 6000 euro overdraft in my other account, self employed and working like a dog since the start of the new year and seemingly nothing to show for it, a few Bob to come in in the next couple of weeks so I'll be alright until the next hiccup comes along to **** up the dream

pgj2015

Ruraldweller56 wrote: »

Exactly. I see lots of folk on here seem to be making a thing of the fact it's 'sitting in a current account' or whatever. I have similar amounts and listen to the same thing but no one seems to be able to tell me where this magic hole is where I can just leave it and it doubles in 5 years.

a friend of mine was called into his bank during the celtic tiger to talk to a financial adviser, he was told he should invest his money. who do you recommend? ford are always a safe bet.

he didnt invest as he didnt trust the financial advisor, a few months later he hears on the radio, ford are in big trouble and loosing money. dont ever trust anyone working for a bank.

bee06

Jimmy_oc1998 wrote: »

Because everyone I know who's on decent wage acts like they're just making ends meat. You always hear people "oh I can't wait until payday" or "it's been so long since we've been paid".

So I was wondering what peoples situation is like.

This is just something people say to make conversation. I say it all the time and I have plenty of savings.

MadYaker

pgj2015 wrote: »

no point having it in a savings account if you might need it at any time.

The money is still accessible if I give a few days notice, but ive no intention of touching it for a few years yet. I can't imagine what sort of situation id end up in where that would't be ok to be honest. I add more to the savings every time I get paid and I keep enough in my current account at all times to deal with unexpected expenses and if I'm really stuck I've a credit card with a big limit on it that I almost never use.

Seriously, don't keep all your money in your current account. Its losing value and if someone were to get your visa debit card or get access to your account some other way they could clean you out.

lawred2

MadYaker wrote: »

Inflation reduces the purchasing power of your 78k as the years go by if it's in a current account and not accruing interest. Use a savings account instead like all sensible people. Having that much money in your current account is stupid for many reasons.

Savings accounts offer way below inflation rate in terms of interest.

Chuck it into equities

Noelmcgov28

900 dollarydoos