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Is is possible to rent AND save?

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    #32
    ztoical
    Registered Users Posts: 4,788 ✭✭✭ztoical


    Dragging the thread alittle of topic and back on something that was said in an early post about saving money for a deposit on a house....when people talk about savings is that what they are taking about? I know it's been a very Irish attitude to buy rather then rent so is that what peoples focus is when it comes to savings? It wouldn't be for me, maybe because I have lived in several different countries and don't have the Irish need to buy a house as a long term goal. To me I've two types of savings - long and short term. Long term is a set amount I try and save each month that goes into an account that is very difficult for me to access...I've no long term goal with this money and view it as rainy day savings. Short term is money I put aside to pay for things like equipment I need for my studio or to pay for flights for trips, it's things I know are coming up but I've got some time to put the money aside and would rather do that then pay with my credit card and have to pay that off after.



    RedXIV wrote: »
    Heh heh,

    Can't wait for some of ye to have kids :)

    You'll be waiting a long time cus it ain't gonna happen :p


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    #33
    CiaranC
    Closed Accounts Posts: 6,300 ✭✭✭CiaranC


    RedXIV wrote: »
    Heh heh,

    Can't wait for some of ye to have kids :)
    Id rather die


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    #34
    coffee_cake
    Registered Users Posts: 81,310 CMod ✭✭✭✭coffee_cake


    I saved for a year or so to buy a car while renting so yes it is possible.
    800 as rent may be pushing it though, I would suggest sharing a house/flat with someone instead, for cheaper rent.


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    #35
    seanmc1980
    Closed Accounts Posts: 346 ✭✭seanmc1980


    from my experence everyone is different.
    some people can get buy on a couple of hundred a month while others spend a couple of hundred a week! its all down to what the individual see as important in life. saving for the future/viewing anything beyond the essentials as a waste or living in the moment. personally i see myself as in the middle of these 2 extremes, i enjoy being social meet friends after work for coffee, lunch meets with friends, dinners out with Fiancee during the week, golf at the weekends, gym during the week, nights out/in with friends at the weekends, some new clothes etc...
    i do end up saving varying amounts a month sometimes as high as 1k sometime as low as 20, it depends on the month.


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    #36
    ongarboy
    Registered Users Posts: 5,201 ✭✭✭ongarboy


    johndaman66 wrote: »
    By the way OP without knowing your full circumstances I think your mother charging you €450 per month rent is a bit OTT on the face of it

    I don't know OP's full circumstances either but anyone I know still living at home and pays rent there usually gets all meals at home, heating, electricity, refuse collection, Sky/UPC and sometimes even laundry,ironing and phone use also included in that price. So €450 seems a reasonable amount IMO if it includes all that. I'd be surprised if OP's mom charged him additionally for each meal he consumed etc.

    OP - if you value immediate independence over near future home ownership, then go ahead and rent if you feel after making a list of all expected income and outgoings that you can still put a sufficient amount into saving for a future house deposit. OK, it will take longer this way then the cheaper option of living at home. I rented from 18 to 29 but am now a proud homeowner. I don't regret paying 11 years of "dead money" as some call it as they were my circumstances at the time, I had independence throughout and I got to live in several cities in 3 countries over the years, make new friends with housemates along the way while still managing to save and buy during the crazy house boom. My salary was similar to OPs taking inflation into account during much of that period so it can be done.


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    #37
    johndaman66
    Registered Users Posts: 4,097 ✭✭✭johndaman66


    ongarboy wrote: »
    I don't know OP's full circumstances either but anyone I know still living at home and pays rent there usually gets all meals at home, heating, electricity, refuse collection, Sky/UPC and sometimes even laundry,ironing and phone use also included in that price. So €450 seems a reasonable amount IMO if it includes all that. I'd be surprised if OP's mom charged him additionally for each meal he consumed etc.

    Hmm, perhaps your correct ongarboy. I assumed when dropstar said he was paying €450 a month in rent it was including a roof over his head and even perhaps some basic bills such as refuse collection and esb. Of course if €450 per month covers food/ cooking/ heating/ Sky/ UPC/ broadband/ phone/ laundry etc. it is a different story and then €450 would seem much more reasonable.


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    #38
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    Mr. Loverman wrote: »
    You probably need a better job so!

    I rent and save quite a lot of money every month.

    If you live on €500 a month I'm not surprised.


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    #39
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    RoverJames wrote: »
    If you live on €500 a month I'm not surprised.

    Fresh food, no pubs, bring lunches to work, etc.

    You get used to it really quickly, and you get a lot of savings really quickly.


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    #40
    seanmc1980
    Closed Accounts Posts: 346 ✭✭seanmc1980


    we get the hint Lover man, you dont like pubs! you dont need to say it in every one of you posts.

    r u saving for anything in particular?


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