Post # 1
if you think im being rude please dont post. I dont mean to offend
How much a month do you save? vs how much a month do you make (bring home after tax) vs what bills do you have?
How much i make: I make $2360 a month after tax. but some months i recieve bonuses usually $200 they go straight to savings. FI earns $2580
How much do I save: we save together $1600 a month unless a recieve a bonus
What bills. Rent $1200 a month. car payments $550 a month. car insurance $120 a month. Home insurance $70 a month. Groceries $480 a month. $100 for fuel. 2 phone bills and net bills equal $160 a month. and we put a way $160 a month for electricity, gas and water
Post # 4
I wont bother you with explaing my details, but I save about $1000 US a month. That is about 1/3 of my income after rent, pension and insurance, but before groceries/ transportation/ student loan/ other expenses…
That money is to go to a bunch of things though (airtickets, immigration costs, postgrad/graduate study). Its also hard to compare because the cost of living (and incomes) can vary so much around the world.
Post # 5
You are so organized! I have no idea, I really should plan things better. Based on your breakdown though, you don’t every splurg and buy something for yourself? Fancy dinner, pair of shoes, etc?
Post # 6
I don’t have a particular number as it depends on what we spend that month! But usually we’ll transfer the remaining money out of the current account that’s left at the end of the month the day before payday, which can be anything from £50 to £700. We’ll be able to save basically my whole salary once I start my ‘real’ job in a couple of months so our savings will increase hugely!
Post # 7
@Azalea_Bee: yeah FI always tells people that im his financial planner. lol. we have basically $75 a week each spending money that we can spend on whatever we want with out justifying it to the other. i get my nails done every fortnight (it costs $100 + in stores but i found a lady who works from home and because i was her first ever client and have been going for 2 years every two weeks she only charges me $25 for whatever i want nail wise and for eyebrow wax. bonus she does a fantastic job) And he usually uses his to take me out for dinners, i dont ask him too he says he likes doing it.
Post # 8
After paying for bills, and budgeting for groceries, utilities, eating out, entertainment (movies,shows, etc) we save roughly $2000 between the two of us monthly. As much as we spend a lot, we are also very aware of where our money goes. the FI is amazing when it comes to finances, so he tracks everything. we plan on paying for our entire wedding in cash (no credit card), and since we are paying for the entire wedding ourselves, our saving has gone into overdrive. 😉
Post # 9
@faithamicka: same before wedding we kinda of saved half of what we do now :/ we are also pay for it ourselves with no help or credit 🙂
Post # 10
$0.00 – we don’t save at all – there are too many people on my ass who want my cash!
“First me then you, okay?”
That’s my life! sigh
Post # 11
@happyface: ithe IRS is like your version of the ATO right? i think it is.
Post # 12
@Pokemon: Yes, IRS is American and Revenue Canada is Canadian.
Post # 13
@happyface: haha i love comics that perfectly describe life.
not mine though, I’m still in school, the SO’s done and works full time. We both live at home so lots of disposable income but we’re saving up for a house so here’s a general break down.
He makes a little over $2400 a month net. After car insurance & repairs, gas, gym membership, phone and food, he saves about half his pay (unless there’s a new game out he really wants or console).
With my set hours (24.5 hours 🙁 biweekly) i only make $1000 a month net but if i pick up extra shifts or holiday pay, i could make as much as the SO. I don’t have to pay for anything aside from food outside of the home, clothing and entertainment so i save 75% or more usually.
I’m trying to max out how much i can contribute to my TFSA ($5k/year) and i don’t want to touch that money until retirement.
Post # 14
We save a minimum of $650 every month. I make $2340 a month net, I put $650 a month into our joint savings account. If I have money left over at the end of the month I’ll put that into my personal savings sometimes it’s a little as $25 and sometimes it’s a couple hundred. Soon I’ll be able to put more into my personal savings since I’ll be paying off my car next month. My personal bills are student loans, cell phone and car plus insurance.
FI pays all of our household bills out of her paycheck. I’m really not sure how much her paychecks are, I just know that she makes more than I do. FI is horrible at saving and budgeting, so our method works for us. As long as I put money into our savings and she pays the bills we are both happy and are free to spend our money as we please.
Post # 15
Since I am still in grad school, my mothly income is not much. I take home about $1600 per month and $600 goes to rent. FI pays the rest of the bills out of his paycheck and I spend about $300/month on lunch, groceries and household needs then the rest sits in my account. Monthly direct deposit means I don’t see the money so I am less likely to spend it but I also don’t feel bad if I spend it on dinner out, shopping, travel, etc. Once my account is over $5k, I transfer 3-4k into our joint savings account which will happen as soon as this month’s check hits.It’s a pretty unscientific system but FI is really in charge of our accounts and we mostly live off of his income so mine is our discretionary spending. However, I won’t have any income starting in November but I will move to him so my rent payment will go away.Once I have a real job, our goal is to continue to live off his salary and save 90% of my income with the goal of buying an investment home on a significant downpayment. Our real problem is not saving but investing, we save into a bank account but with interest currently lower than inflation it’s not a smart move. I think investing needs to become our 1st post-wedding priority.
Post # 16
We put $600 a month straight into savings a month. It’s allocated right out of DH’s paycheck, I’m a SAHM at the moment. We never spend all of what’s left over though, so I would say we save upwards of $1000 a month.