How much of you wages do you save?

D3V!L · 21-05-2018 02:52PM

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.

21-05-2018 02:52PM

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

ytpe2r5bxkn0c1 · 21-05-2018 02:54PM

Deleted User wrote: »

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

As Laser Cards were replaced in 2014, no.

MilfordBud · 21-05-2018 02:55PM

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.

21-05-2018 02:58PM

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 · 21-05-2018 03:00PM

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

21-05-2018 03:06PM

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. · 21-05-2018 03:08PM

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 · 21-05-2018 03:13PM

Save?

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Creamy Goodness · 21-05-2018 03:15PM

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 &#55357;&#56898;

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 · 21-05-2018 03:15PM

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 · 21-05-2018 03:18PM

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 · 21-05-2018 03:20PM

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 · 21-05-2018 03:23PM

Shrouds have no pockets

_Puma_ · 21-05-2018 03:27PM

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 · 21-05-2018 03:29PM

_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 · 21-05-2018 03:33PM

SEPT 23 1989 wrote: »

Shrouds have no pockets

But funerals cost a lot...

Graces7 · 21-05-2018 03:35PM

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_ · 21-05-2018 03:40PM

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 · 21-05-2018 03:45PM

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...

c6ysaphjvqw41k · 21-05-2018 03:48PM

This post has been deleted.

LirW · 21-05-2018 03:51PM

_Puma_ wrote: »

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.

It is absolutely ridiculous, Insurance is a huge factor that eats money away. A month before renewal our car broke down, the money we saved for the renewal was now our car budget, got a quite reasonable banger, 11 years old.
I don't wanna be in debt for a car, I simply need something that brings me from A to B.

Anyway, we save a little bit every month, maybe 300 Euros, we're living incredibly frugal and our disposable income isn't high but we make by and are quite happy.

Creamy Goodness · 21-05-2018 03:53PM

Zascar wrote: »

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...

you'll find a lot of people won't as Irish are a bit cagey about their wages.

a few tips I've used over the years:

* give up smokes/vapes if you smoke, possibly booze too if you find yourself regular sinking €50 on booze on a single night.

* find the amount you can save, not talking about what's left at the end of the month. what can you put away the second you get paid and not miss it. it doesn't matter how small it is, it's the act of doing it that's key.

* if you've a car, learn some simple car maintenance, do oil changes, filters etc. Simple DIY is another one, don't pay a handyman to stick up some shelves, clear ivy etc. Youtube has a wealth of knowledge

* Bring your own treats to the cinema, go to cinema on the weekdays (tuesday, wednesday or early saturdays) it's cheaper then.

* If you go out eating, share a starter/dessert, or get one or the other, never both, also I used to go out to a sit down meal at least once a week, I've cut it down to every second week and the savings are very noticeable.

* If you're buying something that's outside of the ordinary groceries, fuel etc. walk away for an hour, if you still want it, go back. 9 times out of 10 you'll find it was just an impulse.

* cut out the fancy flat whites and caps. Get an aeropress and some bagged coffee and make your own (just as good).

* If you've an overdraft, kill it. it's a vicious circle, same for credit cards, if you have ever paid a cent in interest on these, cut it up and cancel it.

taheen · 21-05-2018 03:56PM

Half my wages are mortgage, 2 cars insurance+tax, phones, broadband, health insurance, bins.
If u start adding petrol and food - thats over the half :-D

SEPT 23 1989 · 21-05-2018 03:58PM

Zascar wrote: »

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...

No kids and living with the mammy?

sarcasticus magnificus · 21-05-2018 04:02PM

The sad truth nowadays is that most people can only save by giving up on other things.
Young people give up on the option to leave their parents house and find their own place just to save for a few years.
If you want to save, you need to put yourself into a frugal regime, give up on many things that make life bearable (I know people who don't have a TV or an internet connection because they are trying to save, people give up leisure activities, etc) and in general your life becomes miserable.
It wasn't like this in the past as far as I can remember.

2smiggy · 21-05-2018 04:04PM

Devin Tangy Typhoid wrote: »

This post has been deleted.

sounds depressing !!

ytpe2r5bxkn0c1 · 21-05-2018 04:05PM

sarcasticus magnificus wrote: »

The sad truth nowadays is that most people can only save by giving up on other things.
Young people give up on the option to leave their parents house and find their own place just to save for a few years.
If you want to save, you need to put yourself into a frugal regime, give up on many things that make life bearable (I know people who don't have a TV or an internet connection because they are trying to save, people give up leisure activities, etc) and in general your life becomes miserable.
It wasn't like this in the past as far as I can remember.

In fairness, except for a very few years of the Celtic Tiger that has always been how the average working person managed to save.

TerrorFirmer · 21-05-2018 04:16PM

About 30 percent every month. My biggest luxury is probably food.....eat out a fair bit. I can see where I could very easily make massive savings but, life's for living too and I'm alright with my rate of saving at the moment so not too concerned. Easily said as a single person though with no real commitments.

mark_jmc · 21-05-2018 04:23PM

€1,400 each month into pension & €750 each month into savings

How much of you wages do you save?

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