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01-02-2019, 13:58   #46
Scotty #
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Originally Posted by pwurple View Post
You guys have WAY too short a list if this is for budgeting.
I was thinking the very same!

Groceries €210.00 per week
Diesel €280.00
Toll €70.00
Mortgage €700.00
Gas €63.00
Electricity €162.00
Car Insurance €175.00
Car Loan €265.00
House Insurance €43.90
Mortgage cover €28.45
Phones €60.00
Kids phones €50.00
Panda €74.00 every 3 months
SKY Digital €55.00
Broadband €45.00
BT Sport €27.50
Netflix €13.99
Amazon Prime €9.00
Kids Extra Curricular €120.00 sports, classes, etc
Savings €800.00

Not counting incidentals like take-outs, clothing, medical, dentist, social life, etc, etc, etc.

So about €2.5k not counting savings. Based on two adults and two teenagers.
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01-02-2019, 13:59   #47
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Originally Posted by nox001 View Post

I know of one or two people paying up on 1k a month in a car loan, now that is high but the cars are special.
In my mind, if you can't afford a car without a loan, you can't afford it.
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01-02-2019, 14:00   #48
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What I usually do is when my car goes down to 5k in value I sell it and get out another loan for 5k. Buy something then for around 10k.

Doesn’t cripple me whatsoever to be fair.
I don’t understand people buying brand new cars
Luckily some do or there wouldnt be any bangers left for you to buy at 5l


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Originally Posted by facehugger99 View Post
The guy paying €1,000 a month.

Keep up.

What if it's only a small percentage of takehome? Keep up


1k to someone on 30k might be a lot, but it's not to everyone.
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01-02-2019, 14:01   #49
 
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Originally Posted by blackbox View Post
In my mind, if you can't afford a car without a loan, you can't afford it.
Not really, why save for a couple of years and then get the car when you can just get a loan.

Same model then is that people shouldn’t get a mortgage if they need the loan
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01-02-2019, 14:02   #50
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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.
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01-02-2019, 14:02   #51
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Break down? Have to laugh at this sorry.
If they can afford a brand new high spec car then fair play to them. People crippling themeselves with car payments is a another story
A car is not an asset it is an expense, therefore should not be financed with capital.
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01-02-2019, 14:04   #52
theteal
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Originally Posted by Scotty # View Post
I was thinking the very same!

Groceries €210.00 per week
Diesel €280.00
Toll €70.00
Mortgage €700.00
Gas €63.00
Electricity €162.00
Car Insurance €175.00
Car Loan €265.00
House Insurance €43.90
Mortgage cover €28.45
Phones €60.00
Kids phones €50.00
Panda €74.00 every 3 months
SKY Digital €55.00
Broadband €45.00
BT Sport €27.50

Netflix €13.99
Amazon Prime €9.00
Kids Extra Curricular €120.00 sports, classes, etc
Savings €800.00

Not counting incidentals like take-outs, clothing, medical, dentist, social life, etc, etc, etc.

So about €2.5k not counting savings. Based on two adults and two teenagers.
I know things cost more in Ireland than the UK (and teenagers will eat you out of the house) but that seems a really high amount on groceries. I aim for about £200 per month.

Also, with those TV/Broadband prices, I'm in no hurry to move back. Our Virgin is 100mb, full TV (bar Sky, we can get NowTV is something is of interest) and BT Sport UHD for £33pm. Netflix full package can be got fro cheaper too
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01-02-2019, 14:05   #53
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Interesting thread. I think about something like this every time I get paid and update my spreadsheet.

Currently, my bills/consistent outgoings each month are:

Rent: €525
Eir: €27.50
Spotify: €15
Car Repayments: €312
Phone Bill: €45
Netflix: €11
Savings: €600
Electricity: €65 (This is a guess, I always forget about this, and it comes up every 2 months)

Totals: €1600 per month

On top of that, I have my discretionary budget of
€40 per week general spending (€160 p/m)
€15 per week for lunch at work (€60 p/m)
€30 per week for diesel (€120 p/m)
€50 per week for socialising (€200 p/m)

Total: ~€540 per month

Then each month, there are one-offs such as birthdays for family members. Trips away. Unexpected expenses
Basically €2500 a month is just enough to live on if we want to keep saving
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01-02-2019, 14:07   #54
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Originally Posted by ELM327 View Post
A car is not an asset it is an expense, therefore should not be financed with capital.
Nonsense. A car is a depreciating asset. Just like houses were back around 2009.
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01-02-2019, 14:08   #55
bazwraf
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Originally Posted by turdball View Post
Not really, why save for a couple of years and then get the car when you can just get a loan.

Same model then is that people shouldn’t get a mortgage if they need the loan
And why even get a loan when some dealerships offer 0% finance.
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01-02-2019, 14:08   #56
Scotty #
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Originally Posted by theteal View Post
I know things cost more in Ireland than the UK (and teenagers will eat you out of the house) but that seems a really high amount on groceries. I am for about £200 per month.
You mean per week surely? No way you could feed a family of 4 here for €50/week.

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Originally Posted by theteal View Post
Also, with those TV/Broadband prices, I'm in no hurry to move back. Our Virgin is 100mb, full TV (bar Sky, we can get NowTV is something is of interest) and BT Sport UHD for £33pm. Netflix full package can be got fro cheaper too
Yea I've been looking at this lately, getting TV Broadand all in one pack and if I go with Eir then BTSport is included.
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01-02-2019, 14:10   #57
ELM327
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Originally Posted by jimgoose View Post
Nonsense. A car is a depreciating asset. Just like houses were back around 2009.

How is a car an asset? The use of the car is a day to day expense, which manifests as depreciation.


So you take a loan because the opportunity cost (especially for a 0% loan) is higher, and you let the bank take the risk on some of the depreciation (via PCP) It's a win win.


In the time it takes to save up to buy the car, the opportunity cost and cost of inflation will likely be more than the cost of the (often 0-3%) interest.
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01-02-2019, 14:10   #58
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Originally Posted by bazwraf View Post
And why even get a loan when some dealerships offer 0% finance.

Which is called a "loan".
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01-02-2019, 14:11   #59
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Originally Posted by ELM327 View Post
How is a car an asset? The use of the car is a day to day expense, which manifests as depreciation.


So you take a loan because the opportunity cost (especially for a 0% loan) is higher, and you let the bank take the risk on some of the depreciation (via PCP) It's a win win.


In the time it takes to save up to buy the car, the opportunity cost and cost of inflation will likely be more than the cost of the (often 0-3%) interest.
The car is an asset. The finance on the asset, e.g. car loan, is a liability, as is the expense of driving it.
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01-02-2019, 14:12   #60
Scotty #
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Originally Posted by ELM327 View Post
How is a car an asset?
It has a financial value to you. Therefor it is an asset, which is deprecating all the time. To maintain that asset, involves an expense.
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