Age Verus Savings

BigEejit

c_man wrote: »

Don't try and judge yourself against others OP, you'll always feel bad. Look at your own spending and see where you can make cuts.

+1
There is always going to be someone in any financial type thread who says they are (your age minus 10 years) and they own their own house and have (your savings + 200%)
Burying your head in the sand will not make your finances better*, but if you dont start somewhere you will get to middle age with nothing but the state pension to support you....


*Unless you happen to bonk your head on a diamond or lump of gold.

AlmightyCushion

tomwaterford wrote: »

I was lead to believe it could come againest you,never having a loan before...if yous were to go about getting a mortgage??


Something about credit history or similar?

That's how it works in the US, not here. Here, it's mainly about savings and consistency of savings. Missed or late payments on loans here could hurt you when applying for a mortgage or loan but not having any shouldn't have any affect.

BigEejit

One thing that often surprises me in these threads is people having children, struggling to make ends meet and then saying they are planning another. Its doesn't make any sense to me.

BigEejit wrote: »

Not wanting to drag the thread off topic but the energy costs look crazy...
Not knowing size of property or is its double glazed etc, but is €250 a month

Its insane. Two of us in a standard 3 bed semi-detached house and our esb averages about 45 euro a month and gas about 25 euro a month (averaged over the year almost nothing in summer and higher in winter). Have a fire and access to free timber too which helps keep heating costs down a bit but that's mostly at weekends really it would be lit.

Burial. wrote: »

Never been in debt, never had a credit card and never will, .

I don't see why people think its such a great thing to never have had a credit card, in fact I think its foolish not to have one. They are a great tool when used correctly and are far far safer for using online etc than exposing your current account to fraud.

The J Stands for Jay

Four Phucs Ache wrote: »

Just for the craic here's my month.
2 kids 1 adult and me.

Mortgage 900
Mortgage insurance 25
Life insurance 25
Stuff that makes lights work 100
Stuff that heats the house 150
Big square thing near couch 40
Shopping 500
Box that allows me to Google 40
2 mobiles 80
2 car insurance 100
1 car tax disc 300
2 Petrol 500
Laptop because other one **** itself 450
Kids party 150
2 new rads coz they **** themselves aswell 200
About 8 takeaways 170
New shoes 50
Xbox live 30
Car service 100
Printer ink 30
New kettle 30
Cinema 50
Birthday gift for me ma 50


NO SAVINGS.

Next month......repeat.

If I had such a cheap mortgage, I'd be loaded. What's the big square thing near the couch that costs 40 a month? The other half?

The J Stands for Jay

Four Phucs Ache wrote: »

The big square thing is my TV.If that sh1ts itself I'm going to dance on it.

Take 200 from the 500, buy a freesat box, plug it in and spend the 40 a month on more takeaways. As an added bonus, it doesn't do saorview, so no more getting annoyed at seeing Tubbs on a Friday night.

The J Stands for Jay

bear1 wrote: »

At the start of the year I had near on 12k in savings and regularly 10k left over in our current account.
After the summer it's all gone to **** with our savings done to 3k and our current account has hit 4k until I'm paid.
Honestly I'm ****ting it.
But, I look at my equity.
2 cars worth in the region of 40k combined and a house worth about 400k of which 260k is the banks.
If things keep going down then one of the cars will go and prop up the savings and current account.
We've been offered a 3rd car for free which isn't worth more than 2k but that will be sold too.
Equity wise we are quite good but hard cash wise up **** creek.
I'm 30, wife is 32 with one 2 year old and another on the way.

Keep the free car, sell one or both of the others.

Burial.

Freya Broad Barter wrote: »

I don't see why people think its such a great thing to never have had a credit card, in fact I think its foolish not to have one. They are a great tool when used correctly and are far far safer for using online etc than exposing your current account to fraud.

I'm sure there are some pros to them but I don't think I'm the right person to have one. Even though I can budget well and financially I'm pretty sound I wouldn't trust myself with one....as I said above I'm a lunatic for spending. I also hate the idea of owing money. Even if it's twenty euro for petrol when I forgot my wallet I feel awful until I give back the money. Maybe I'll change but I'm far more comfortable using my own money.

I'd use PayPal or Skrill for online stuff more so because it's handier rather than safety wise but I guess it doubles up...haven't used the card online in a long while.

Adventure1

I don't have much savings but I have a vague idea that I'm somehow going to become rich at some unspecified time in the future, so hopefully that works out

Geuze

Before I bought a house in 2005, I was saving 700 pm towards the deposit.

I had been doing that for several years.

So 700pm while aged 25-30.

Geuze

At age 42 I had net wealth, including house, of 200k.

It's okay I suppose.

Many of my friends would have lower wealth, although some have 1m+ gross wealth.

I have three dependents, and save 450 pm, not great, but ok.

server down

tomwaterford wrote: »

I was lead to believe it could come againest you,never having a loan before...if yous were to go about getting a mortgage??


Something about credit history or similar?

That’s very true in the US. Not so much here.

Black_Knight

Four Phucs Ache wrote: »

Just for the craic here's my month.
2 kids 1 adult and me.

Mortgage 900
Mortgage insurance 25
Life insurance 25
Stuff that makes lights work 100
Stuff that heats the house 150
Big square thing near couch 40
Shopping 500
Box that allows me to Google 40
2 mobiles 80
2 car insurance 100
1 car tax disc 300
2 Petrol 500
Laptop because other one **** itself 450
Kids party 150
2 new rads coz they **** themselves aswell 200
About 8 takeaways 170
New shoes 50
Xbox live 30
Car service 100
Printer ink 30
New kettle 30
Cinema 50
Birthday gift for me ma 50


NO SAVINGS.

Next month......repeat.

80 on 2 mobiles a month? Bit much. Any network provider can get you a nice package for less. €20 a month with meteor (eir) for unlimited calls/texts and 15GB of data.

Nice bit of petrol. Its a bigger commitment, but something more economical might be an idea?

8 takeaways in 4 weeks?

Takeaways + changing your phone provider would give ya near €100 saved a month.

Move TV and Broadband provider for a nice introductory deal. Even telling them you're moving and want to cancel will result in them giving you a better deal. UPC consistently did it (I assume Virgin do the same), and Eir do too.
Same for Gas and electric. Usually get intro credit (€150-€200), just use bonkers.ie to get the best provider for you.

Burial.

Burial. wrote: »

I'm sure there are some pros to them but I don't think I'm the right person to have one. Even though I can budget well and financially I'm pretty sound I wouldn't trust myself with one....as I said above I'm a lunatic for spending. I also hate the idea of owing money. Even if it's twenty euro for petrol when I forgot my wallet I feel awful until I give back the money. Maybe I'll change but I'm far more comfortable using my own money.

I'd use PayPal or Skrill for online stuff more so because it's handier rather than safety wise but I guess it doubles up...haven't used the card online in a long while.

I can relate to this. Once upon a time I had one and used it like money was going out of fashion and running up plenty of debt along the way.These days I only have a debit card and while I would be more sensible in my old age a credit card is definitely something I do not need.

ytpe2r5bxkn0c1

Deleted User wrote: »

I can relate to this. Once upon a time I had one and used it like money was going out of fashion and running up plenty of debt along the way.These days I only have a debit card and while I would be more sensible in my old age a credit card is definitely something I do not need.

I had one years ago and only used it for convenience while abroad, with the strict rule that it was cleared in full every month - DD set up to do so. I got rid of it when the Visa Debit came out and never felt the loss at all.

Wanderer2010

I owe a fortune and only have a few thousand savings, so this thread has well and truly depressed me!

Four Phucs Ache

Black_Knight wrote: »

80 on 2 mobiles a month? Bit much. Any network provider can get you a nice package for less. €20 a month with meteor (eir) for unlimited calls/texts and 15GB of data.

Nice bit of petrol. Its a bigger commitment, but something more economical might be an idea?

8 takeaways in 4 weeks?

Takeaways + changing your phone provider would give ya near €100 saved a month.

Move TV and Broadband provider for a nice introductory deal. Even telling them you're moving and want to cancel will result in them giving you a better deal. UPC consistently did it (I assume Virgin do the same), and Eir do too.
Same for Gas and electric. Usually get intro credit (€150-€200), just use bonkers.ie to get the best provider for you.

Thanks.It is all relative though.

The mobiles.
Where I live other providers where shyte, I have massive data and all calls etc and need to ring UK a lot.Im happy

Petrol.
We drive a lot and don't want diesel, we own both cars so I won't be spending 30k to save 20 a week on a new diesel yoke.

Takeaways.
No fookin way are they going

TV provider.
Again where I live sky is the best, plus I like it.

Heating.
Oil + Real fire....Hate the fookin cold.

Electric.
Electric hob, 5 showers a day, home office, hairdryers, kettle never fookin off, laptops, iPads, charge this charge that, power out to the shed, and the rest....I'm happy

Austria!

Conspectus wrote: »

A man on the Ivan Yeats show earlier today said that to save for a pension you need to have saved 1½ times your yearly income by your 28th birthday.

And to think at 28 mam was giving out about me having only €470 and no income

tomwaterford

Austria! wrote: »

And to think at 28 mam was giving out about me having only €470 and no income

Tbh you had 470% of your income saved too

TerrorFirmer

Can we pour one out for the homies on this thread who are clearly in the pits of despair at the obvious wealth and general well being of some contributors.

On a crap salary, low savings, dismal prospects. At this stage the thought of owning my own home seems like a fanciful notion akin to getting to spin the wheel on Winning Streak.

Not happy about it, but here we are, hoorah!!

amondenise

Lara_Croft.ie wrote: »

Hi guys...

Just out of interest....how many people here actually save or can save money from their wages?

I'm 31 yrs and i have 10K in savings...

I'm just wondering if that is a good or bad level to have at my age...

Please feel free to contribute

It all differs with everyone what is acceptable and what is enough. You ddnt say but you could just have 10k savings but your own house and a stable job?

Personally I've been lucky and able to save €1000 a month and I am 22 years old, but I'm still renting and have a temporary job.
So it's all different for everyone.