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Disposable funds after Bills

  • 25-01-2021 11:08pm
    #1
    Registered Users Posts: 68 ✭✭


    So, I am looking at getting a new car (Second Hand) with low milage as what I'm driving now is over 130k - luckily have kept my job through all this but that also means I'm still driving 800+ km a week - unfortunately company car or fuel compensation is not an option!

    With rent / bills / food shopping / petrol & tolls I am left with about 7/800 for the month, the best deal I could find for a car that will suit my needs (size & km's on the clock) will cost me another 200 leaving me with around 500 for the month.

    Long story short.. how much are you left with at at end of the month after all your Mortgages, loans, bills,loans and the like are settled?


Comments

  • Registered Users Posts: 2,394 ✭✭✭ManOfMystery


    I know plenty of people who live hand to mouth. Are you concerned you don't have enough left over each month? To be honest, on an 'average' income, I think if you've 500 (I assume euro) left over each month after outgoings, you're doing ok - if you were putting that into an ISA or a high interest account, it's €6k per year + interest and over time would grow to be a decent lump.


  • Registered Users Posts: 949 ✭✭✭Neames


    Fics wrote: »
    So, I am looking at getting a new car (Second Hand) with low milage as what I'm driving now is over 130k - luckily have kept my job through all this but that also means I'm still driving 800+ km a week - unfortunately company car or fuel compensation is not an option!

    With rent / bills / food shopping / petrol & tolls I am left with about 7/800 for the month, the best deal I could find for a car that will suit my needs (size & km's on the clock) will cost me another 200 leaving me with around 500 for the month.

    Long story short.. how much are you left with at at end of the month after all your Mortgages, loans, bills,loans and the like are settled?

    I'm driving a car with close to 400k km. My advice is to keep the car well serviced and you'll easily have another 200k km in that car.

    That way you can save up over the next few years to get another car.


  • Registered Users Posts: 684 ✭✭✭zapper55


    Its tight. Do you have an emergency fund in case your car breaks down/unexpected medical bill etc arises? And money put aside for annual bills like insurance etc?

    I second the above poster. Ive 60km on mine and expect to do triple the mileage over the next few years.


  • Registered Users Posts: 1,942 ✭✭✭bilbot79


    Are you spending the minimum on the mortgage? If not you could elect for a longer term and smaller payment until things improve?


  • Registered Users Posts: 5,007 ✭✭✭Rubberchikken


    If you've 500 a month over after everything then maybe consider saving some if it for a rainy day.
    Trust me they show up with regularity.

    Even 250 a month is 3000 in a year and that can go a long way.


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  • Registered Users Posts: 850 ✭✭✭radiotrickster


    Definitely look at saving. I have 150ish after savings left aside each month as disposable income, in case I want a new game, some clothes, takeaway, etc. It does me fine. It’s not like any of us need a lot of disposable income right now as we’re not going anywhere!


  • Closed Accounts Posts: 3,292 ✭✭✭TheBoyConor


    130k kms is nothing on a car that is well looked after. You should be able to double that at the very least before it starts to break down badly.


  • Registered Users Posts: 601 ✭✭✭Snails pace


    130k kms is nothing on a car that is well looked after. You should be able to double that at the very least before it starts to break down badly.

    I agree with this. If you keep it serviced regularly it will last a lot more than that. Put the excess money into something that will go up in value and not down.


  • Moderators, Recreation & Hobbies Moderators Posts: 4,466 Mod ✭✭✭✭dory


    My car has around 250k up on it. If I change it it'll be to get something bigger, not because of the milage. I look after it well.
    I can't really answer the money question as I'm saving for a mortgage now so saving a lot and have no rent/mortgage at the moment. I think €500 extra is good enough. Try to save some bit as others have said.


  • Registered Users Posts: 3,190 ✭✭✭Tork


    If I was in your position I'd hold my fire for now. Is there any particular reason why you want to change the car, other than you're getting a bit bothered by the mileage? If the car is being looked after properly and isn't giving you any problems I don't see why you wouldn't get a few more years out of it.

    Another reason I'd advise you to keep your money in your pocket is the uncertainty over what will happen in the aftermath of Covid-19. Somebody is going to have to pay for all of this and I wouldn't rule out tax increases. If you know anybody who was working in 2008/2009, they'll have plenty to say about what the budget/emergency budget did to their take home pay. I think for now it'd be wiser to start saving your money and revisit replacing the car in the future.


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  • Closed Accounts Posts: 58 ✭✭bunnyboxer


    130KM is absolutely nothing on a car. You've a good 180,000 KM to go or more.

    After my rent, Broadband, electric, heating I have roughly 1600 left over and my car 200000 Kms on it. I only support myself and have spent more than 1200 euro on a car.

    Complete and utter waste of money.


  • Closed Accounts Posts: 3,292 ✭✭✭TheBoyConor


    I think people are confused about what is a high milage. Years ago, like 25 or 35 years ago a car with 100,000 miles (160,000km) would be pretty worn out. But we must remember that our roads were crap and would shake a car to bits, and the cars themselves were not as good, many with terrible rust issues, and just less well built and durable overall.

    Firstly, there is a wrong mental habit of looking at the number of miles and kilometres and at first glance thinking the numbers mean the same thing. Remember 100,000 miles is 160,000km. In ops case, 130,000km is only 81,250 kilometres. That is small at any rate.

    Secondly, most modern cars generally speaking are far far more durable and reliable than their predecessors from 25 or 30 years ago in the days of actual milage. Of course, there are a good few models and brands with a bad reputation for disastrous reliability such as Landrover, BMW etc (and some trading on a historical reputation of reliability that is not really credible anymore, ie, VW and their kin). But for the most part, cars are much more reliable and durable. Especially the Asian makes.

    My car is a nissan Almera with 200,000 miles. That is 320,000 kilometers. Aside from routine maintenance costs and expendable wear items, it has been extremely reliable. I have no plans on changing it as long as it is reliable. I expect to get to perhaps 400,000km.

    Also op, if you sell that car, you will get a good deal of money for it. Therefore, it has value, therefore it is obviously not a worn out piece of junk if someone is willing to hand over many thousands of euros for it.

    So OP, get the idea that it is a high milage car out of your head. That is a very mistaken assumption on your part. It is not high milage by any measure. It is not even middle aged in terms of milage. It is still a relatively young car. It is in it's teenager life stage.


  • Moderators, Society & Culture Moderators Posts: 6,794 Mod ✭✭✭✭Hannibal_Smith


    Mod Note

    Hi OP

    Although your thread wasn't asking for advice per se, we left it open so that you might get a steer (no pun intended!) from some posters here.

    You have a good few things to go on now, so rather than have it go further into discussing cars, which goes beyond what Personal Issues is for, I'll close the thread. You could try the Motors Forum if you want to further explore the pros/cons/merits in changing cars.

    Thanks to all who offered advice

    HS


This discussion has been closed.
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