How much of you wages do you save?

Mtx · 22-05-2018 1:02pm

So better feeling than zero debt

Pac1Man · 22-05-2018 1:30pm

These threads always end up with very specific, detailed, personal posts. Bizarre.

Tell me how · 22-05-2018 1:38pm

I'm actually thinking that for a country that is apparently useless/f*cked/a disaster, we have surprisingly high levels of saving.

Geuze · 22-05-2018 2:02pm

Tell me how wrote: »

I'm actually thinking that for a country that is apparently useless/f*cked/a disaster,

It's not.

There is approx 94 bn on deposit by Irish households.

https://www.centralbank.ie/statistics/data-and-analysis/credit-and-banking-statistics/private-household-credit-and-deposits

Geuze · 22-05-2018 2:08pm

Tell me how wrote: »

I'm actually thinking that for a country that is apparently useless/f*cked/a disaster, we have surprisingly high levels of saving.

Household wealth is 750 bn, and that's after deducting liabilities.

https://www.centralbank.ie/statistics/data-and-analysis/financial-accounts

https://www.centralbank.ie/docs/default-source/statistics/data-and-analysis/financial-accounts/quarterly-financial-accounts-for-ireland-q4-2017.pdf?sfvrsn=2

lmimmfn · 23-05-2018 12:01am

Savings? other than saving for a mortgage or having it paid off already i dont see the point in having any savings( other than several K emergency funds ). Any savings i have i use to pay off the mortgage. Also cashed in my work shares scheme because ill be f***ed if ill wait 3 years, pay 50+% to revenue before i even sell them( which might be at a loss after ive paid 50%+ on taxes ) and then give an extra 33% Capital Gains Tax on any of potential profit.

Basically other than like i said saving for a mortgage its a complete waste of time having "savings" in this country.

On the original point i "save" 50-70% per month and bung it on the mortgage, 13% left at 7+ years.

ChikiChiki · 23-05-2018 1:20am

1000$ a week, about half my weekly wage here in Oz. Slogging around building sites and staring into trenches pays quite well. Make double what i made consulting.

It wont last for ever as I'll be home next year so saving like fook while i can. For people saving for mortgages you'd get it done far quicker out here and you wouldnt have to forego an actual life for 2/3 years.

Apocalypticism · 23-05-2018 7:14am

I am saving 1500 out of 2390 which is my monthly pay. Advantage of living with parents I guess. Could make some improvements to make it larger e.g I spend 10 euro per day on food and I think 6 would be enough. Also if I bought weekly bus tickets online I would get free ticket every 10 weeks which is worth 46 euro also online the ticket costs 43.50.

facehugger99 · 23-05-2018 7:19am

Min 500 - Max 1,000. Depending on what other outgoings we have that month

Not counting pension contributions.

posturingpat · 23-05-2018 9:17am

0-5 euro per week depending how flush i'm feeling.

Cookie_Monster · 23-05-2018 9:59am

26% to joint savings, 4% to personal savings and 3% to pension

23-05-2018 10:41am

lmimmfn wrote: »

.................. pay 50+% to revenue before i even sell them( which might be at a loss after ive paid 50%+ on taxes ) and then give an extra 33% Capital Gains Tax on any of potential profit.

Basically other than like i said saving for a mortgage its a complete waste of time having "savings" in this country.

On the original point i "save" 50-70% per month and bung it on the mortgage, 13% left at 7+ years.

Share scheme at work should be more benefical than you describe .... Full income Tax relief is allowed on the amount of pay foregone. However, any shares awarded under
an Approved Profit Sharing Scheme (including shares awarded as part of a Salary Foregone arrangement) will be
liable to Pay Related Social Insurance (PRSI) and Universal Social Charge (USC). Salary Forgone deductions will
therefore be made free of Income Tax only.

How much of you wages do you save?

Comments