How should I dispose of my €150 this month - Credit Union Survey

Rabidlamb

http://www.independent.ie/business/personal-finance/latest-news/half-a-million-people-left-with-no-money-after-paying-bills-3081570.html

MORE than half a million adults have no money left at the end of the month after paying essential bills.

Just one-third of the population is able to save money every month, while almost two-thirds of motorists say they are struggling with spiralling fuel prices and increases in motor tax.

The bleak assessment of the state of the public's finances is contained in the latest 'What's Left' tracker compiled by the Irish League of Credit Unions.

It found that:

560,000 adults, or 16pc of all adults, have no disposable income left at the end of the month once their bills are paid.

1.5 million adults, or 45pc of all adults, have a maximum €150 left to spend each month.

Half of all consumers struggle to pay all of their bills on time.

42pc of households have no intention of paying the €100 household charge.

The survey of 1,000 adults, carried out last month, will be repeated each quarter this year in order to track trends in household expenditure.

The most recent poll found that just one-third of adults were able to save every month, with 46pc saying they cannot afford to put any money by.

So, 61% of us have about €150 or less a month to splash around on luxuries.
So all the entertainment sectors have to compete for our €35 a week, no wonder the pub trade is one it's arse.
Were I the purveyor of a luxury service or goods I'd have lost over half my potential customers since the start of the recession.

Where should I blow my wad this month then ?.
Where does one intend to blow one's wad ?.
We used blow €150 easy on a night out back in the "good" days.

Mr Benevolent

I usually don't have anything left at the end of the month.

Rabidlamb

Confab wrote: »

I usually don't have anything left at the end of the month.

Is that after the coke & Faberge eggs or before ?.

xzanti

Mine goes on Chinese takeaways, wine and midget porn.

Steven81

Keep it for your water meter

SEPT 23 1989

Irish Government Bonds

Mr Benevolent

Rabidlamb wrote: »

Is that after the coke & Faberge eggs or before ?.

After. Definitely after.

padma

RTE, says its less than 100 euro a month.

http://www.rte.ie/news/2012/0416/new-survey-reveals-households-financial-hardship.html

Kaner2004

dont tell anyone you have or the government will take it off you somehow.
i dont know anyone who has less than a few hundred left every month. and thats after holidays, meals out and all sorts of nice things. i think its the new "keeping up with the jones". "keeping down with the smiths". "rois, well im worse off than you mate."

padma

Kaner2004 wrote: »

dont tell anyone you have or the government will take it off you somehow.
i dont know anyone who has less than a few hundred left every month. and thats after holidays, meals out and all sorts of nice things. i think its the new "keeping up with the jones". "keeping down with the smiths". "rois, well im worse off than you mate."

Maybe its the people you know. I on the other hand dont know anyone who has anything left at the end of the month. It isn't about monthly budgeting no more its about daily living and waiting for dole day to keep the bill;s paid and food in the cupboard.

Tea_Bag

"Where does one intend to blow one's wad ?"

your m oh never mind.

Mickey Dazzler

Thai Lady Boys.

maximoose

Woah. If that's accurate then I'm nowhere near as bad off as I sometimes think.

chrismon

I love saving for a few weeks so I can have a night out with my friends.
Can't wait for car tax to go up again!

starbelgrade

Rabidlamb wrote: »

Where should I blow my wad this month then ?.

Into a sock.

Anyone

starbelgrade wrote: »

Into a sock.

Can buy a lot of socks with €150!

CardBordWindow

xzanti wrote: »

Mine goes on Chinese takeaways, wine and midget porn.

That just goes to show how bad times are, when people can't afford full-sized porn!

Rabidlamb

padma wrote: »

RTE, says its less than 100 euro a month.

http://www.rte.ie/news/2012/0416/new-survey-reveals-households-financial-hardship.html

That's after they deduct Tubirdy & Finucane's salary.

44leto

150 spondulies who are these millionaires.

They mustn't be paying any tax or are on benefit.

Mr. Manager

I'd be curious to see/hear of peoples break downs. Outside people with mortgages, I can't see how someone, on an average salary of ~€26k, can have less than €150 at the end of the month.

Obv I know a lot of people have mortgages but surely the % can't be that high.

Don't get me wrong, I don't have much money after paying rent/bills/food but I have a bit more than €150.

Vicxas

Mine and the missus wages each month brakedown;

Combined Wages are: €3300 P/M

Deductions;

Rent: 650
Food: 400
Bills: 300
My Car loan: 172
Petrol: 300
Car insurance: 93

Leaves us with roughly €1380 between us which is roughly €650 each.

And yet im always broke at the end of the month

Rabidlamb

Vicxas wrote: »

Mine and the missus wages each month brakedown;

Combined Wages are: €3300 P/M

Deductions;

Rent: 650
Food: 400
Bills: 300
My Car loan: 172
Petrol: 300
Car insurance: 93

Leaves us with roughly €1380 between us which is roughly €650 each.

And yet im always broke at the end of the month

Good breakdown, the lack of a Celtic Tiger mortgage or kids is the obvious saving here.

Mr. Manager

Vicxas wrote: »

Mine and the missus wages each month brakedown;

Thanks for that! I probably have roughly the same as you after all my outgoings and again, same as, am broke at each payday. Have €84.48 left in my current acc and my CC is minus a little over €500. Payday is 10 days away

Although I've just moved into a new house (subtle brag can be found here, here, here and here!) which cushions the blow.

:pac:

token101

Rabidlamb wrote: »

http://www.independent.ie/business/personal-finance/latest-news/half-a-million-people-left-with-no-money-after-paying-bills-3081570.html



So, 61% of us have about €150 or less a month to splash around on luxuries.
So all the entertainment sectors have to compete for our €35 a week, no wonder the pub trade is one it's arse.
Were I the purveyor of a luxury service or goods I'd have lost over half my potential customers since the start of the recession.

Where should I blow my wad this month then ?.
Where does one intend to blow one's wad ?.
We used blow €150 easy on a night out back in the "good" days.

Well if it's your wad you're looking to blow and you've €150, that should get you half an hour with someone on Escort Ireland. They'll probably throw in some Tesco Sparkling wine, jonnies and some baby wipes aswell.

Vicxas

Cereal Rapist wrote: »

Thanks for that! I probably have roughly the same as you after all my outgoings and again, same as, am broke at each payday. Have €84.48 left in my current acc and my CC is minus a little over €500. Payday is 10 days away

Although I've just moved into a new house (subtle brag can be found here, here, here and here!) which cushions the blow.

:pac:

Lol shameless self promotion

But i think the reason im so broke is that we tend to get a bit lazy during the middle of the month and order take aways, which as most of you know puts a sizeable dent in your money

Rabidlamb

Vicxas wrote: »

Lol shameless self promotion

But i think the reason im so broke is that we tend to get a bit lazy during the middle of the month and order take aways, which as most of you know puts a sizeable dent in your money

Yep, 30 squids for the takeaway (cause you wanted the spring roll starters) when you've a fridge full of food is always hard to justify, still we all do it.
I used to smoke & that's the one expense I can't get my head around anymore.
20 a day is €9x7=€63 a week :eek: no wonder everyone's smoking the imports.

token101

Rabidlamb wrote: »

Yep, 30 squids for the takeaway (cause you wanted the spring roll starters) when you've a fridge full of food is always hard to justify, still we all do it.

We do in our bollocks!

phasers

Ah here, 30 quid for a Chinese? get a 3 in 1 and a portion of chicken balls to share :cool:

jimthemental

Buy some Tesco cola and some coat hangers. The budget version of coke and hookers.

Mr. Manager

Rabidlamb wrote: »

Yep, 30 squids for the takeaway (cause you wanted the spring roll starters) when you've a fridge full of food is always hard to justify, still we all do it.
I used to smoke & that's the one expense I can't get my head around anymore.
20 a day is €9x7=€63 a week :eek: no wonder everyone's smoking the imports.

Used to smoke too and haven't noticed a penny more in my pocket since quitting if I'm being honest

Nothing left in my life that I can cut back on...

shedweller

Cereal Rapist wrote: »

Used to smoke too and haven't noticed a penny more in my pocket since quitting if I'm being honest

Nothing left in my life that I can cut back on...

Write down everything you spend your money on then you'll see where the money is going.

I'm so happy I started teaching English.. Even after paying shared rent and bills in one of the most posh and beautiful houses I've ever been in (ex diplomat millionaire house), I have considerably more euro left each month than the total net income I got from my fund accountant job in Ireland.
In Vietnam, that translates into a ridiculous lifestyle. No road taxes etc., 20 cigarettes or a beer are about a euro, a good dinner/delivery is about 2/3 euro and a really nice treat yourself meal/delivery is about 5/7 euro.

Nothing that much against Ireland but even if I got my "well paid" career job back, I'm not living there again for the foreseeable future.

Cee-Jay-Cee

After mortgage, loans, bills, creche and weekly shopping is paid for i have maybe 300 left over each month which is 75 a week. Out of that i then have to pay car tax, insurance, clothes, car servicing etc etc so spread over the year i probably have maybe €30 a week to 'go mad' on...brilliant isnt it and i'm considered a middle income earner!

Corvo

I would be left with about €300 per month to blow (no children, rent a house, no car) sometimes more and still I find myself broke by week 2 of the month.

I'd say I could be paid €1,000,000 a week and still be eating like a student come the end of the month. Just not good with money!

Logical Fallacy

padma wrote: »

RTE, says its less than 100 euro a month.

http://www.rte.ie/news/2012/0416/new-survey-reveals-households-financial-hardship.html

RTE adjusted on the assumption that people paid a TV license.

Mickey H

Rabidlamb wrote: »

Where should I blow my wad this month then ?.

starbelgrade wrote: »

Into a sock.

Under the mattress...

Logical Fallacy wrote: »

RTE adjusted on the assumption that people paid a TV license.

Well whoop dee f***ing do, another €160 odd quid for the year.

Kaner2004

I smoke €100 a week. I probably spend as much again going out on the piss and taxis.
So thats at least €800 a month on vices.
How many of the people who only have €135 a month left smoke or drink?

Mr Benevolent

Kaner2004 wrote: »

How many of the people who only have €135 a month left smoke or drink?

Well I don't smoke. If you can afford to drink and smoke loads, fair enough, just make sure you divert some of that cash to health insurance. I really don't want to have to pay for your emphysema treatment when you hit 60.

Confab

Confab wrote: »

Well I don't smoke. If you can afford to drink and smoke loads, fair enough, just make sure you divert some of that cash to health insurance. I really don't want to have to pay for your emphysema treatment when you hit 60.

The taxes paid on cigarettes and alcohol over the course of one's life would go along way towards paying for any medical problems arising as a direct result.

Mr. Manager

shedweller wrote: »

Write down everything you spend your money on then you'll see where the money is going.

Okey doke.

So, I got paid on the 22.03.12 €1,649.29.

Rent - €420
CC - €80
Debenhams (quilt and pillows) - €92
Crosscraft (homeware) - €65
Flamingo (homeware) - €55
Falcon House (homeware) - €40
Scott's Supermarket - €114.47
Mother Bday - €40
Café Cuba - €30
Trips to the ATM to cover lunch in work - €120
Eden Cinema/Bowling - €30
Second lot of rent (overlapping accommodation for 1 month) - €250
Petrol - €20

Total spend - €1,356.47

Leaving me with €292 for this month.

Obviously there is quite a few things in that list that won't be there next month hence why I estimated my monthly spend to be around €650.

speedboatchase

That figure seems crazy to me. I'm on a fairly modest wage but I can save a little bit every month. Are we to believe that 1 million+ people have zero savings?

mathie

Deleted User wrote: »

The taxes paid on cigarettes and alcohol over the course of one's life would go along way towards paying for any medical problems arising as a direct result.

...and the taxes I pay on fruit and veg?

mathie

speedboatchase wrote: »

That figure seems crazy to me. I'm on a fairly modest wage but I can save a little bit every month. Are we to believe that 1 million+ people have zero savings?

An AH poll would tell us the answer

mathie

mathie wrote: »

...and the taxes I pay on fruit and veg?

... are nowhere near as high per euro spent.

mathie

Deleted User wrote: »

... are nowhere near as high per euro spent.

And so it should be as cigarettes are a health hazard and the total opposite to fruit and veg.

Anyway I don't want to take the thread off topic so ..... LOOK A DOG WITH A FLUFFY TAIL!

marketty

I have too much month left at the end of the money.
I wonder how much people had 'left over' each month during the bubble, probably not a lot then either seen as so few people have savings to fall back on now. Seems that even when you're making loads you find a way to spend it each month unless you are a prudent saver, which I think a lot of people will be in future

Capt'n Midnight

€150 a month eh ?


TV license

Household charge
Water Meter
Another New stealth taxe

Increase in price of fuel and it's knock on effects.

kingtut

What do they class as luxuries? Seems hard to believe that people only end up with €150 a month ...

Capt'n Midnight

kingtut wrote: »

What do they class as luxuries?

Tap water.

Carter P Fly

There is no way that's accurate. Im the sole earner in my gaff and if I only take utility bills into account plus two mortgages amd petrol money and food I still have more then 150 at the end of the month.
Its clear that whoever is answering these surveys are takking chinese takeaways and saturday nights down the local as a Utility bill/nessisity.