lucashood1977
Registered User
- Messages
- 15
If you have no savings you cannot buy a house just yet.I am a 42 year old single man with 0 dependents and no mortgage despite having a very good salary I have no savings . I would like advice on how to better take care of my finances and whether I should buy a house . Im in my current role for the past 13 years but Im unsure whether to buy a house as I dont think I want to stay in Waterford. Ive pretty much resigned myself to ever wanting kids or getting married so I only have myself to look after . I am currently doing a course in the hope of getting contract roles in the field im in to make more money . Im just wandering if I should try and buy a house anyway as an investment since i am currently in full time employment.
My rent is 600 a month.first things first - what is your current rent? You're taking home 4,000 a month, your car loan is 327 a month, that leaves a lot of money that could be saved.
You need to really examine where your spending is going. Since lockdown this should be easier as most of us are using cards for every purchase. Sit down and go through your last 6 months bank statements and see where the money went.
If you are saving nothing at present jumping to 2k monthly will be difficult. Start at 1250 and put 750 into a separate savings or credit union . We’re necessary dip into the 750 if you feel you have too but leave the 1250. After a few months increase the 1250 to 1500 and decrease the 750 to 500 . See how it goes . Find a wine you like in Aldi or lidl .My rent is 600 a month.
elec is 200.
Internet 40
Diesel 50
I should be able to save at least 2k a month. I drink too much and spend quite a bit on very expensive wine
If you automate your savings, you won't have the disposable income to spend on expensive wine. When it gets to the month end, you'll have to buy €9 bottles.I should be able to save at least 2k a month. I drink too much and spend quite a bit on very expensive wine
he seems to have at least 2500 a month disposable income, he can still afford to buy some decent wine and save some money at the same time.If you automate your savings, you won't have the disposable income to spend on expensive wine. When it gets to the month end, you'll have to buy €9 bottles.
I think that a less indignant tone is needed here.
A very true statement. Unfortunately many financial advisors are selling products on which they make commission. They don't really care whether it is right for you or not as long as they get you signed up!So many people in the financial arena will offer you help with investing your payday surplus.
Yet hardly anyone will help with the financial potty-training needed to generate the surplus in the first instance
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