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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?

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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

A_Sober_Paddy

monflat wrote: »

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

Limerick...Sorry i just assumed my location was visible

Olive8585

A_Sober_Paddy wrote: »

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

Well, anyone could save loads if they were paying that little rent. Most people have no option but to pay 2 or 3 times what you pay. My rent is well over 50% of my take home pay.

A_Sober_Paddy

Olive8585 wrote: »

Well, anyone could save loads if they were paying that little rent. Most people have no option but to pay 2 or 3 times what you pay. My rent is well over 50% of my take home pay.

Understood, but in saying that my mates who are poor with money, are paying rent in the same region(or lower) than me

Kaizersoze81

Olive8585 wrote: »

Well, anyone could save loads if they were paying that little rent. Most people have no option but to pay 2 or 3 times what you pay. My rent is well over 50% of my take home pay.

nobody should be paying over 50% of their take home pay on rent. You need to move somewhere cheaper

Kaizersoze81

Why are the poll results hidden?

monflat

A_Sober_Paddy wrote: »

Understood, but in saying that my mates who are poor with money, are paying rent in the same region(or lower) than me

Do your mates go out and spend a monthly budget on socislising like u do ?

Whats your DEFINITION OF POOR ??
Someone with no savings or someone of savings less than 4k ?

A_Sober_Paddy

monflat wrote: »

Do your mates go out and spend a monthly budget on socislising like u do ?

Whats your DEFINITION OF POOR ??
Someone with no savings or someone of savings less than 4k ?

Someone who works 42 hours a week and is in overdraft 90% of his time, i don't know where there money goes, as I start i'll be starting budget myself a little bitter and recording it too

Ah-Watch

Are the results hidden for everyone yeah?

I'm out of college a year and a half and paid my way through for absolutely everything and I mean everything bar my registration fees which the parents paid. I paid for rent, books, food, bills , every type of transportation inc car tax insurance (yeah maybe say it's not a necessity but it kinda was for where I went to college and the car was 12 years old ) any extra help such as grinds etc. I think it gave me a good grasp on supporting myself financially in life. I worked 1 day a week at €69.20 and still put myself through college somehow. A year and a half on I have into 5 figures saved. I live down the country so haven't high rents to be paid that you'd have in Dublin, but that's luck really.

I see a lot of my friends saying they're broke but they're out the whole time or throwing it away stupidly. I'm not tight when it comes to spending, I go to the pub one night minimum every week and probably the cinema once every fortnight or three weeks but save what I can so I can go travelling in the near future. Even putting a few bob aside every week will help with a rainy day and it baffles me to see ppl just live paycheck to paycheck -some have to yeah and others don't. At the moment I'll save to do the things I want to do like travelling before I'm bled dry in years to come by a wife and kids ha

monflat

A_Sober_Paddy wrote: »

Someone who works 42 hours a week and is in overdraft 90% of his time, i don't know where there money goes, as I start i'll be starting budget myself a little bitter and recording it too

Ur workin all that ??
Ur in overdraft ?

I dont believe it

A_Sober_Paddy

monflat wrote: »

Ur workin all that ??
Ur in overdraft ?

I dont believe it

My mate is, i had to loan him money for rent last week