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How to save dolla bills. Help

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  • 03-07-2018 3:41pm
    #1
    areyouwinning
    Closed Accounts Posts: 33 ✭


    Hi,

    I'm new to boards & hoping someone can help.
    I'm 21 & on an internship for the rest of the summer in Dublin before I go back to college in Limerick. I earn roughly €790 a month after all bills etc.

    I have absolutely no savings (which is embarrassing for my age and I'm stressing like no other). I have a few events coming up during the summer & I want to visit America for a week but doubtful about it now.

    I want to start putting money away for my future. How do I max this out & also enjoy my summer? Should I park some of my plans & invest in my future instead? I'm not too pushed about America. I feel like a bit of a failure because I have no savings. (Self inflicted I know).
    Some savings tips would be appreciated.

    Thanks
    Tagged:


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    #2
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    Start saving for your future when you finish 3rd level and are working full time.

    You just need to save enough over the coming months to enable you to manage away until then :)

    Preparing all of your own meals is a decent money saver though, a veg curry (chopped tomatoes with chilli as the paste, 4 sweet potatos and a tin of chickpeas) can be made for €4 and you get 4 meals out of it.

    There's 16 portions of rice in a 1kg bag, €0.30 ish a portion.

    So that's 4 dinners for just over €5 :)


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    #3
    Idjit
    Registered Users Posts: 853 ✭✭✭Idjit


    areyouwinning wrote: »
    Hi,

    I'm new to boards & hoping someone can help.
    I'm 21 & on an internship for the rest of the summer in Dublin before I go back to college in Limerick. I earn roughly €790 a month after all bills etc.

    I have absolutely no savings (which is embarrassing for my age and I'm stressing like no other). I have a few events coming up during the summer & I want to visit America for a week but doubtful about it now.

    I want to start putting money away for my future. How do I max this out & also enjoy my summer? Should I park some of my plans & invest in my future instead? I'm not too pushed about America. I feel like a bit of a failure because I have no savings. (Self inflicted I know).
    Some savings tips would be appreciated.

    Thanks

    Is that €790 excluding money you need for transport, food etc too?
    A good way I've found for saving is by allowing myself 'fun money' each week and putting the rest into a side account, that is accessible if I really need it for miscellaneous expenses (like doctors fees etc) but not in my main account to be dipped into whenever I'm out drinking and of a lesser will power :P

    I usually allow myself about €50 per week, or €100 per week if there's a specific event on (someone's birthday etc) to spend on socialising. Everything else goes into savings.

    So if you allowed yourself €50 per week for enjoying yourself, you'd have €590 per month into savings. That will really build up quickly, you'll have over a thousand in only two months!

    It's all about finding a balance between still enjoying yourself in the here and now, and planning for adventures down the line. It's doable.


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