Money and Savings

Inspector Coptoor

Theta why you don't have kids.
There are enough people in the world.
We all Don need to reproduce.

A_Sober_Paddy

Supercell wrote: »

OP wait until you have a mortgage, kiddies, a car.. and then see how easy it is to save.
There is ALWAYS something - the fence that broke last winter in the storms, the 9 year old car that's going to need replacing soon or sooner if another sprog comes along. The walls outside that need painting, the room that herself wants redecorated. Did i mention the kiddies, you know,they grow, all the time, you have to keep buying them clothes all the time!, they want an xbox, a air pump trainer or a school trip to Paris .etc etc
I'm going to OD on easter eggs tomorrow.
Enjoy it while you can!

Why does everyone assume getting a mortgage is somehow an inevitable part of life?

vickers209

Years ago i had money saved but then the resession hit wage cuts while the cost off living went up And with all these new taxes too theres very little left after paying the bills. I work full time pay my bills rent tax ect and im lucky to get out once a month.
While friends of mine are on the dole and are out every weekend get rent alowance and manage a holiday once a year too and are afraid too look for work because they will lose there comfy lifestyle.

Ive worked since i was 15 (summerjob) now 29 and never been near the dole office once but when i see people on dole with free house rent out every weekend and able to run a car too.
i wonder whats the point of me working my ass off and have notting to show for it while others get it handed to them

Ann Landers

Supercell wrote: »

OP wait until you have a mortgage, kiddies, a car.. and then see how easy it is to save.
There is ALWAYS something - the fence that broke last winter in the storms, the 9 year old car that's going to need replacing soon or sooner if another sprog comes along. The walls outside that need painting, the room that herself wants redecorated. Did i mention the kiddies, you know,they grow, all the time, you have to keep buying them clothes all the time!, they want an xbox, a air pump trainer or a school trip to Paris .etc etc
I'm going to OD on easter eggs tomorrow.
Enjoy it while you can!

A lot of this is kid stuff - how do you know the OP wants kids? :P

c_man

Worst poll ever.

Sir Arthur Daley

Supercell wrote: »

OP wait until you have kiddies

Not everyone needs to tick that box.

the 9 year old car that's going to need replacing soon or sooner if another sprog comes along

My girlfriends 2001 golf is seriously living on borrowed time need to address that tomorrow.

Ludikrus

OP buy some new clothes dude u stink.

mikemac1

Clocked up 30 hours of overtime last month, ca-ching, this was to be the biggest payslips got in years

Even despite over 1k gone on various taxes :rolleyes:

I'm paid monthly and it was supposed to be lodged on Thursday but something went wrong and HR says they don't know when anyone will be paid. Incompetent feckers :mad:

Will be living on cat food and fresh air until Tuesday

Arthur Beesley

Specialun wrote: »

What if i have 1000.50.

What do i tick then

Buy yourself a creme egg.

Antar Bolaeisk

Currently have zero expenditure which means lots of savings

ytpe2r5bxkn0c1

15,000 is an extremely low maximum to have in a poll like this, ffs!



Why is the poll result hidden?

Crappiest poll ever!

crazygeryy

Nelson Teeny Tableware wrote: »

15,000 is an extremely low maximum to have in a poll like this, ffs!



Why is the poll result hidden?

Crappiest poll ever!

Why? How much have you got saved?

Cee-Jay-Cee

Oh it's it great to be young and carefree. Enjoy it for when the time comes to buy a house, get married, have children and pay your bills, those savings soon dwindle away. I had 25k+ in savings less than 8 years ago, my wife had about half that. We have little or no savings now but we're happy and we earn enough to survive.

monflat

CJC999 wrote: »

Oh it's it great to be young and carefree. Enjoy it for when the time comes to buy a house, get married, have children and pay your bills, those savings soon dwindle away. I had 25k+ in savings less than 8 years ago, my wife had about half that. We have little or no savings now but we're happy and we earn enough to survive.

Ah sure the op says he wont even get a mortgage but if he does he will have At LEAST 50% IN SAVINGS.

He wont have children unless he can really afford them.......



Its great to be mid 20 s with an attitude like that.

Give him another 10 yrs.........

FURET

It depends on your attitude and on knowing what you want from life.

For example, if you weren't born into money, if you know that money is important to you, or if you simply want to maximize the money that you have now and in the future, it's probably not a good idea to:

• Have x number of children if x number of children means that you could no longer hope to build wealth at the desired rate
• Marry someone who can't manage money or who is not your economic equal (many marital breakdowns arise from financial pressures, so if you want a happy marriage, couples generally do need to see eye to eye about money)
• Live in a one-off house far from where you intend to work as this maximizes your travel expenses
• Buy a span new car when a decent used car would suffice
• Buy a house that is bigger than you actually require
• Neglect savings and pension planning

I've little sympathy for anyone who constantly complains that they don't have enough money if they've done any of the above things.

mickydoomsux

monflat wrote: »

Ah sure the op says he wont even get a mortgage but if he does he will have At LEAST 50% IN SAVINGS.

He wont have children unless he can really afford them.......



Its great to be mid 20 s with an attitude like that.

Give him another 10 yrs.........

Yeah, what an idiot for being financially responsible.

Seriously, people in this country think it's a given right to have kids and/or a house despite not being able to afford them. Then they'll claim it the banks/government/whoever's fault when they inevitably wind up scraping by.

We as a nation need a good kick up the arsed when it comes to money management. It should be taught in schools instead of the utter waste of time and resources that is the Irish language.

fermanagh_man

Can we ask people what there salary is next? Asking about savings just isn't nosey enough

FURET

monflat wrote: »

Ah sure the op says he wont even get a mortgage but if he does he will have At LEAST 50% IN SAVINGS.

He wont have children unless he can really afford them.......



Its great to be mid 20 s with an attitude like that.

Give him another 10 yrs.........

The OP is shrewd and you're giving him stick for that? It's good that he's copped on so young. Give him another 10 years and he'll probably have well over 100k put away.

Mantis Toboggan

Given current interest rates saving money with mainstream banks is a fools game

keith16

Buddy Holly wrote: »

Given current interest rates saving money with mainstream banks is a fools game

What alternatives would you propose?

monflat

mickydoomsux wrote: »

Yeah, what an idiot for being financially responsible.

Seriously, people in this country think it's a given right to have kids and/or a house despite not being able to afford them. Then they'll claim it the banks/government/whoever's fault when they inevitably wind up scraping by.

We as a nation need a good kick up the arsed when it comes to money management. It should be taught in schools instead of the utter waste of time and resources that is the Irish language.

Im not blaming anyone
If you read thru the posts the op does not have many outgoings

Its my choice to have what i have
But he is highlighting the fact that when he or friend on the dole they can save thousands.

FURET

Buddy Holly wrote: »

Given current interest rates saving money with mainstream banks is a fools game

Generally, yes. However it's often a good idea to have between 3-6 months living expenses immediately available to you in cash to cover major emergencies and to give you scope to avail of good financial opportunities if they happen to come along.

I'd say it's important to have several things in place before going on to actively invest in pension funds etc.

• 3-6 months living expenses in cash
• Home / contents insurance
• Life insurance / a will if you have dependents or if your death would leave behind a liability for others

Once you have these things in place, you have a good foundation.

Daveysil15

I'm excluded from the poll because I have 15,000 euro and 50 cent.

Gummy Panda

Micky Dolenz wrote: »

Scientific study me hole, I'm giving you something far more valuable. My experience. You're welcome.

Don't listen to him paddy. He is a pig farmer. He wants you to buy pork instead

Celly Smunt

Why do people complain about bills, its something I've never understood.

Take a mortgage for example.You have a friggin house, its not like somebody is taking your money for nothing. The bills that come with it are the same.

Some people are idiots with money too and generally are the ones who always complain about being broke.I'm sure if these people went through their statements they'd find countless useless direct debits from years ago.

Sh1tbag OToole

SPM1959 wrote: »

Having an active social life in Dublin has prevented me from saving the last year or so. Crazy to think how much I have spent on meals, drinks and taxis with nothing to show from it.
Prefer to it to when I was able to save a good portion of my wages though and had a few friends/options to go out.

Dublin is desperate for that sort of thing

Sam Kade

Celly Smunt wrote: »

Why do people complain about bills, its something I've never understood.

Take a mortgage for example.You have a friggin house, its not like somebody is taking your money for nothing. The bills that come with it are the same.

Some people are idiots with money too and generally are the ones who always complain about being broke.I'm sure if these people went through their statements they'd find countless useless direct debits from years ago.

Are you married?

Sam Kade

Specialun wrote: »

What if i have 1000.50.

What do i tick then

Withdraw 50 cent

Sh1tbag OToole

Celly Smunt wrote: »

Why do people complain about bills, its something I've never understood.

Take a mortgage for example.You have a friggin house, its not like somebody is taking your money for nothing. The bills that come with it are the same.

Some people are idiots with money too and generally are the ones who always complain about being broke.I'm sure if these people went through their statements they'd find countless useless direct debits from years ago.

You have a friggin house but you end up paying double for it with interest, to a bank who created the money out of thin air because some high up fella gave them a banking license at one point.

Then you have property tax, mandatory insurance and soon you wont be able to do any DIY work on it because everything will have to be done by a registered installer or qualified nail hitter.

Life itself is one big scam

The One Who Knocks

Double?

holystungun9

Daveysil15 wrote: »

I'm excluded from the poll because I have 15,000 euro and 50 cent.

The likes of you shouldn't be posting on Boards but some fancy dancy posh site like Marble Floors.

Celly Smunt

Sam Kade wrote: »

Are you married?

If you're going to use the argument of having a wife as the reason of why a person is broke it shows an even greater stupidity when it comes to money.Especially when you take into account the tax breaks for married couples.

Wanderer2010

monflat wrote: »

Ok great enjoy those times

When you have dependants a mortgage health insurance and all the hpusehold bills to pay on ur own youl realise you have **** all savings.

Both myself n d husband work.

Middle income family .
100 euro to our name. Savings is that what its called ???

What if the OP doesnt want dependants? Thats a pretty big assumption on your behalf to add future debt to a person you dont even know.

FURET

Wanderer2010 wrote: »

What if the OP doesnt want dependants? Thats a pretty big assumption on your behalf to add future debt to a person you dont even know.

Exactly. If you're starting off from a low monetary base and then decide to have multiple kids, don't complain when you find you've only a hundred euro to your name. It's not like people couldn't see it coming.

mrsdewinter

Whew. Not a lotta love for the OP's basic contention that *if* you are in a position to save, you *should* set aside a few quid out of every pay packet in order to pay for emergencies that may arise.
Wish I'd had his attitude at the same age.
What I'd like to see a poll on is the gender breakdown of boardsies with >€5k in savings.

Robson Lobson

Sh1tbag OToole wrote: »

You have a friggin house but you end up paying double for it with interest, to a bank who created the money out of thin air because some high up fella gave them a banking license at one point.

Then you have property tax, mandatory insurance and soon you wont be able to do any DIY work on it because everything will have to be done by a registered installer or qualified nail hitter.

Life itself is one big scam

Banks lending money isn't creating money out of thin air.

Mantis Toboggan

keith16 wrote: »

What alternatives would you propose?

Pay off debt, spend and invest!

A_Sober_Paddy

Robson Lobson wrote: »

Banks lending money isn't creating money out of thin air.

Technically it is, look up the economic principle of money creation, banks only hold a small percentage of your savings and lend the rest out in loans

Celly Smunt

A_Sober_Paddy wrote: »

Technically it is, look up the economic principle of money creation, banks only hold a small percentage of your savings and lend the rest out in loans

Which isnt creating money out of thin air..

Thespoofer

Whats the point in the poll results being hidden ?

Stavros Murphy

A_Sober_Paddy wrote: »

Technically it is, look up the economic principle of money creation, banks only hold a small percentage of your savings and lend the rest out in loans

That's not even correct. The savings are irrelevant. They create the loan on their books, from nothing except your promise to repay that amount plus interest. In that way, Banks create money, literally. Savings held do not come into the equation at all. This is not a revelation either, this is just a simple fact.

Sam Kade

Celly Smunt wrote: »

If you're going to use the argument of having a wife as the reason of why a person is broke it shows an even greater stupidity when it comes to money.Especially when you take into account the tax breaks for married couples.

I simply asked you a question which you haven't answered yet. From your post above it seems that you aren't. Tax breaks for married couples there's a lot more to it than that.

Olive8585

mrsdewinter wrote: »

Whew. Not a lotta love for the OP's basic contention that *if* you are in a position to save, you *should* set aside a few quid out of every pay packet in order to pay for emergencies that may arise.
Wish I'd had his attitude at the same age.
What I'd like to see a poll on is the gender breakdown of boardsies with >€5k in savings.

He's being a bit condescending towards people who can't, though. He can't understand why not everyone can save like him. Really? Most people I know struggle to get to the end of the month. I feel like I'm doing well if I can put £50 aside, and even that requires a level of sacrifice. I work full-time.

Celly Smunt

Sam Kade wrote: »

I simply asked you a question which you haven't answered yet. From your post above it seems that you aren't. Tax breaks for married couples there's a lot more to it than that.

I have been married, as of now, no. What are you getting at? A woman controlling and spending the money?

RedXIV

Having kids is awesome I love being a dad, but it does make things tight financially. I've no doubt that if I was single for the last 5 years, I'd be debt free with a solid start on savings. But instead I have awesome little people at home. I'm living month to month, at least until herself is finished college and loans are paid off.

I used to worry a lot about the idea that kept showing up everywhere that you should have 6 months salary pocketed away somewhere and should be saving at least 20% of your income. Then my dad told me "we hadn't pennies to rub together when ye were growing up!" and they turned out OK.

Every month I see my loans go down a bit more and that makes me happy enough

Arthur Beesley

Thespoofer wrote: »

Whats the point in the poll results being hidden ?

So only the OP knows who to target. Otherwise we'd all know.

Sam Kade

Celly Smunt wrote: »

I have been married, as of now, no. What are you getting at? A woman controlling and spending the money?

Not exactly but as you should know not everyone think alike one spouse could be excellent at managing money the other might not and think money will come out of thin air to pay bills. When the two of them sit down to sort it out it will end up with endless arguments and getting nowhere.

Celly Smunt

Sam Kade wrote: »

Not exactly but as you should know not everyone think alike one spouse could be excellent at managing money the other might not and think money will come out of thin air to pay bills. When the two of them sit down to sort it out it will end up with endless arguments and getting nowhere.

In that case the responsible one should grow a pair, seperate their funds bar the bills and not complain about being broke after they've put themselves in a position they have control of to fix.

Another example of people being stupid with money is people buying a cup of coffee every day. Thats (conservatively) 1.50 per cup.Thats (conservatively) 400 per year.Thats 4000 over 10 years on cups of coffee.

Sh1tbag OToole

Celly Smunt wrote: »

In that case the responsible one should grow a pair, seperate their funds bar the bills and not complain about being broke after they've put themselves in a position they have control of to fix.

Another example of people being stupid with money is people buying a cup of coffee every day. Thats (conservatively) 1.50 per cup.Thats (conservatively) 400 per year.Thats 4000 over 10 years on cups of coffee.

Where are you getting these cups for 1.50? Most places in Dubland do be charging 2.30+ now.

Robson Lobson

Stavros Murphy wrote: »

That's not even correct. The savings are irrelevant. They create the loan on their books, from nothing except your promise to repay that amount plus interest. In that way, Banks create money, literally. Savings held do not come into the equation at all. This is not a revelation either, this is just a simple fact.

How is that creating money? They move money around, they don't create it.