Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all,
Vanilla are planning an update to the site on April 24th (next Wednesday). It is a major PHP8 update which is expected to boost performance across the site. The site will be down from 7pm and it is expected to take about an hour to complete. We appreciate your patience during the update.
Thanks all.

How much do you spend a month before you actually buy anything?

1356

Comments

  • #62
    [Deleted User]
    Posts: 0 ✭[Deleted User]


    ELM327 wrote: »
    Which is called a "loan".

    Ok, I understand what you're saying, but lets get pedantic/off topic
    Say a new car is going to cost you €50k
    You can afford €50k and have it sitting in your bank account
    The dealership will offer you the car on PCP at 0% finance
    Would you rather pay the €50k from your account, or pay back €1388.89 a month (€50k/12 months), and let the rest of the money sit in your account, accruing interest, and available in the case of emergencies?


  • #63
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    Scotty # wrote: »
    You mean per week surely? No way you could feed a family of 4 here for €50/week.

    Different family make-up (and different country) but 2 adults and a 2 yr old, yes £50 per week. I'd say standard weekly shop is closer to £40 tbh (it was closer to £30 a year or two ago!), I've allowed extra for nik-naks during the week.


  • #64
    jimgoose
    Registered Users Posts: 20,174 ✭✭✭✭jimgoose


    ELM327 wrote: »
    Yes but you do not own the asset.
    In the form that it is presented to you, as a leveraged asset if you will, it is an expense in the form of depreciation monthly.


    This is more formalized in the case of PCP deals but is equally true for all forms of car finance.

    No, it is not. If you raise a term-loan product with a bank or credit union to buy the car, then you own it and no-one else. The finance on the car, i.e. the aforementioned loan, is your liability and that car is your asset.


  • #65
    ELM327
    Registered Users Posts: 21,318 ✭✭✭✭ELM327


    bazwraf wrote: »
    Ok, I understand what you're saying, but lets get pedantic/off topic
    Say a new car is going to cost you €50k
    You can afford €50k and have it sitting in your bank account
    The dealership will offer you the car on PCP at 0% finance
    Would you rather pay the €50k from your account, or pay back €1388.89 a month (€50k/12 months), and let the rest of the money sit in your account, accruing interest, and available in the case of emergencies?




    The opportunity cost of having the 50k in your bank account is being provided for free via 0% finance.
    The interest rate doesn't change things (unless it's something exorbitant like 9%), I would always finance cars even when I have the funds to pay up front.


  • #66
    jimgoose
    Registered Users Posts: 20,174 ✭✭✭✭jimgoose


    bazwraf wrote: »
    ...the rest of the money sit in your account, accruing interest, and available in the case of emergencies?

    ...and you get to call it a "current asset". :D


  • Advertisement
  • #67
    ELM327
    Registered Users Posts: 21,318 ✭✭✭✭ELM327


    jimgoose wrote: »
    No, it is not. If you raise a term-loan product with a bank or credit union to buy the car, then you own it and no-one else. The finance on the car, i.e. the aforementioned loan, is your liability and that car is your asset.


    Yes but that is not, as I stated "a form of car finance". That is a personal loan which you elect to spend on a car. A subtle difference but one which changes the ownership and expense question a nuance.


  • #68
    jimgoose
    Registered Users Posts: 20,174 ✭✭✭✭jimgoose


    ELM327 wrote: »
    Yes but that is not, as I stated "a form of car finance"...

    Of course it is, what else would it be? :confused:

    The original topic didn't say anything about different types of finance, only ISTR the term "car loan" was mentioned once or twice.


  • #69
    BrokenArrows
    Registered Users Posts: 7,500 ✭✭✭BrokenArrows


    The second the pay comes in about 2k goes out. :(:mad:


  • #70
    D3V!L
    Registered Users Posts: 2,923 ✭✭✭D3V!L


    Currently saving for a house. All my salary is accounted for apart from €80 a week for myself. :(

    I'm not going into figures but I'm saving a third of my salary, then paying rent on a 2 bed house and then repayments for a bike loan. I basically have the €80 as pocket money or I'd go mad.


  • #71
    TeaBagMania
    Registered Users Posts: 1,192 ✭✭✭TeaBagMania


    D3V!L wrote: »
    Currently saving for a house. All my salary is accounted for apart from €80 a week for myself. :(

    i know the feeling brother, im on the fast track to get my mortgage paid off, almost every penny i earn goes towards the principal.
    Should be finished in no more than 15 months. (its the only debt i have left)

    it sux but you have to sacrifice now to have a better life tomorrow


  • Advertisement
  • #72
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    McGaggs wrote: »
    This planet. I've never had a car loan.

    When you have a car loan you can avoid having a car which leaks water into the boot of your focus. :pac:


  • #73
    The J Stands for Jay
    Registered Users Posts: 5,645 ✭✭✭The J Stands for Jay


    Lylah Sharp Yogurt wrote: »
    When you have a car loan you can avoid having a car which leaks water into the boot of your focus. :pac:

    Nah, I stumped up the cash to replace it with a Mondeo. It took me long enough to realise the boot wasn't getting wet through me opening it in the rain...


  • #74
    professore
    Closed Accounts Posts: 5,857 ✭✭✭professore


    ELM327 wrote: »
    Nespresso subscription 40

    Jesus H Christ ....


  • #75
    holliehobbie
    Registered Users Posts: 393 ✭✭holliehobbie


    gibgodsman wrote: »
    Rent - 550
    TV - 30
    Internet - 67
    ESB - 150

    So not much when compared to yourself but for me its quite a bit considering my pay is awful for someone with an Honors Degree....
    Are you in the US?


  • #76
    gibgodsman
    Registered Users Posts: 563 ✭✭✭gibgodsman


    holliehobbie wrote: »
    Are you in the US?

    Nope, Meath, Originally from Dublin


  • #77
    ELM327
    Registered Users Posts: 21,318 ✭✭✭✭ELM327


    jimgoose wrote: »
    Of course it is, what else would it be? :confused:

    The original topic didn't say anything about different types of finance, only ISTR the term "car loan" was mentioned once or twice.


    A car loan is a loan for a car, what you said was a personal loan that the recipient opted to buy a car with. Different proposition with an entirely different use case, and exponentially higher finance costs usually/


    professore wrote: »
    Jesus H Christ ....
    Gotta have some coffee at work. :confused:
    holliehobbie wrote: »
    Are you in the US?
    They don't call the electricity companies ESB in the US
    I don't understand the question.


  • #78
    holliehobbie
    Registered Users Posts: 393 ✭✭holliehobbie


    ELM327 wrote: »
    jimgoose wrote: »
    Of course it is, what else would it be? :confused:

    The original topic didn't say anything about different types of finance, only ISTR the term "car loan" was mentioned once or twice.


    A car loan is a loan for a car, what you said was a personal loan that the recipient opted to buy a car with. Different proposition with an entirely different use case, and exponentially higher finance costs usually/


    professore wrote: »
    Jesus H Christ ....
    Gotta have some coffee at work. :confused:
    holliehobbie wrote: »
    Are you in the US?
    They don't call the electricity companies ESB in the US
    I don't understand the question.
    Did you get your Honor degree in the US?


  • #79
    jimgoose
    Registered Users Posts: 20,174 ✭✭✭✭jimgoose


    ELM327 wrote: »
    A car loan is a loan for a car, what you said was a personal loan that the recipient opted to buy a car with. Different proposition with an entirely different use case, and exponentially higher finance costs usually...

    Yes, I know all that - products such as BoI's "Motorloan" will give you more bobs at lower interest because these particular personal loans are partially collateralised by a... oh dear... :D


  • #80
    petes
    Registered Users Posts: 8,382 ✭✭✭petes


    Working class heroes wrote: »
    I get give or take, it works out at about with expenses 140,000 a year and I pay 30.3% tax on that, so it’s about a net 100,000 and out of that 100,000 I run a home in Dublin, Castlebar and Brussels. I wanna tell you something, try it sometime.

    So should you!


  • #81
    [Deleted User]
    Posts: 14,344 ✭✭✭✭[Deleted User]


    Mortgage - €700
    Interwebs - €60
    ESB/Gas - ~€160

    So I am well within my budget.. yet somehow keep getting suckered into personal bank loans the whole time. I only get paid once every 6-7 weeks, and although that's been the case for the past 18-20 months, I still seem to be struggling with spreading my money out to cover all that time. I keep running short on it, out of poor budgeting.


  • Advertisement
  • #82
    facehugger99
    Registered Users Posts: 7,202 ✭✭✭facehugger99


    Deleted User wrote: »
    Mortgage - €700
    Interwebs - €60
    ESB/Gas - ~€160

    So I am well within my budget.. yet somehow keep getting suckered into personal bank loans the whole time. I only get paid once every 6-7 weeks, and although that's been the case for the past 18-20 months, I still seem to be struggling with spreading my money out to cover all that time. I keep running short on it, out of poor budgeting.

    Maybe because you don't allow for things like food, transport, insurances, entertainment, savings, etc, etc, and stuff like that?


  • #83
    Crock Rock
    Closed Accounts Posts: 616 ✭✭✭Crock Rock


    Henley Lazy Gourd wrote: »
    I find that everything I spend is to buy something. Your mortgage is buying a house, a car loan is buying a car, bills for gas or electricity are buying gas and electricity, phone and TV bills are for buying those services. So I don't spend anything without buying something.


    OP, I think you meant to ask: How much do you spend on essentials before being able to spend on non-necessities :)


  • #84
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    ELM327 wrote: »
    Tenner in a card? Do you hate the child or something? Jebus I'd be scarlet giving that. Anyway the question was about how much goes out on recurring payments **before you buy anything** not on budgeting your entire income.

    Scarlet, really. How many kids parties do your kids go to? Mine do about 2 parties a month, each. I am fairly ambivalent to other children to be honest. Tell me, what’s the going rate for ye... 50 quid and keys to a Porsche is it?

    And you will see there, I haven’t bought anything I would consider discretionary. No charity donations, no books, nothing for me. Just kids stuff and groceries and bills. Those are all regular expenses. Holiday is budgeted for, could argue that one maybe. But there are HUGE holes in those lists. I don’t see transport down there for many. Are they all walking around? No leap cards, no car insurance/fuel?

    If you think car tax is not a bill... dunno what to say to you.


  • #85
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    Actually, those on about the car loan... I took out a car loan 4 years ago. Bought an electric car. The cost of the loan repayment, was less than I had been spending on car tax and petrol. Loan lasted 3 years. Have the car 4 years. It’s now earning me that spending power (300 per month)... and I have a car worth 12k. so that loan was an investment.


  • #86
    holliehobbie
    Registered Users Posts: 393 ✭✭holliehobbie


    Phones €40
    Medicines €60
    Private Health Insurance €130
    Mortgage and mortgage protection (a lot less than most people in Ireland)
    GP and Consultants fees approx. €50
    Netflix €11
    Internet €45
    No car
    Travel approx. €100
    House Insurance €21
    Life assurance €47
    Gas and Electricity €110
    All above per month
    Food €120 per week
    I have a rare, probably inherited disease, that has caused me a lot of health problems over the last few years. And I had unsuccessful surgery to treat it. The health insurance is essential for me as I would be dead only for having it.


  • #87
    holliehobbie
    Registered Users Posts: 393 ✭✭holliehobbie


    Forgot the bins : €30 per month.


  • #88
    Wildly Boaring
    Registered Users Posts: 3,629 ✭✭✭Wildly Boaring


    Car €265
    Wife's phone €20
    Sky €30
    Childcare €350
    Bins €30
    ESB €60
    VHI €75

    House bought for cash during downturn after saving like hell for 10 years. This keeps any stress away these days.

    2 cars. One (wife's) new PCP. Other paid over last 2 years. Prefer to keep cash and finance cars.

    Childcare cost be gone in Sept.

    Saving well. Will use most for small extension next year.

    I put my mileage money to a separate account, pays my running costs and will change my car in 18 months or so. Like to buy low mileage in UK 3 or 4 year old and drive till I can still sell for reasonable money (when I have enough mileage savings too)


  • #89
    notsoyoungwan
    Registered Users Posts: 614 ✭✭✭notsoyoungwan


    Mortgage 1200
    Mortgage protection 25
    ESB 50
    Phone/mobile/internet/tv/Netflix/Spotify 160
    Health insurance 105
    Work insurance 325
    Union sub 58
    Bins 26
    Car insurance 62
    Heating approx 100 (not sure on exact figure, I just fill the oil tank twice a year)
    House insurance 20
    Fuel varies, anything from 100-300

    So anything from 2200-2400 before I’ve eaten a bite or drank a drop!


  • #90
    Obvious Desperate Breakfasts
    Closed Accounts Posts: 8,474 ✭✭✭Obvious Desperate Breakfasts


    TeaBagMania wrote: »
    i know the feeling brother, im on the fast track to get my mortgage paid off, almost every penny i earn goes towards the principal.
    Should be finished in no more than 15 months. (its the only debt i have left)

    it sux but you have to sacrifice now to have a better life tomorrow

    Don’t sacrifice too much though. Nobody knows if they have tomorrow after all. I’d rather slightly lower repayments in order to enjoy the day at hand more.


  • Advertisement
  • #91
    Pac1Man
    Registered Users Posts: 4,394 ✭✭✭Pac1Man


    I've spent the last three years trying to be sensible by driving a dull diesel but now I have the car bug again.

    Why are you all making me feel guilty about wanting a car loan to get something nice? :(


Advertisement