# How can a couple in their 20s survive both earning 400 or more a week?



## Cs23 (6 Jul 2007)

We are in our early 20s but are finding it very hard both work hard full time jobs. Wages go on 800e rent and bills(petrol, credit card, credit union, car insurance, tax, food, gas, heat..) then left with nothing spare for any luxury things. How to people manage to do it.


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## ClubMan (6 Jul 2007)

Moved from .


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## ClubMan (6 Jul 2007)

What do each of you earn gross? 
Are you married? 
Are you claiming all relevant tax credits/allowances (Are you paying too much tax? A guide to tax credits)?
What would be an indicative monthly budget breakdown (incomings and outgoings)?
Do you habitually have an outstanding credit card balance on which you pay interest (and maybe make only the minimum repayments)?
Do you have other debts?
Do you have any savings?


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## CCOVICH (6 Jul 2007)

Do you need a car?
What is the 'credit union' payment?


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## annR (6 Jul 2007)

You need to budget and cut out things you can do without.


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## monkeyboy (6 Jul 2007)

CCOVICH said:


> Do you need a car?
> What is the 'credit union' payment?



More to the point do you have 2 cars??!! 

400x2x4.3=3400

You should be able to live ok on that unless due to excessive costs on one or 2 cars.


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## ClubMan (6 Jul 2007)

monkeyboy said:


> 400x2x4.3=3400


What is this all about - in particular the 4.3?

Update: oops - I guess you're extrapolating the stated weekly income to a calendar monthly figure?

The original poster doesn't clarify if the €400 p.w. is net or gross.


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## larkin (6 Jul 2007)

First priority - get rid of debt. 

Make a plan between you and take pleasure in meeting it's goals together - and know that by following it you are getting somewhere. 
Take a long-term view.

After that you can think about luxuries. And maybe you should reevaluate what they are - personally I enjoy a good cheese...

Any trips we take are done mid-week with Ryanair - our summer holiday flights this year cost 124 euro for 2 adults and a baby.


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## ClubMan (6 Jul 2007)

larkin said:


> personally I enjoy a good cheese...


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## niceoneted (6 Jul 2007)

400X2X4.3 this gives the monthly take home. Clubman I thought you'd have been quicker thatn that!!!


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## ClubMan (6 Jul 2007)

I did eventually!  It's not clear whether the €400 is take home or gross.


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## Cs23 (7 Jul 2007)

Take home for me and 480 for him.


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## DrMoriarty (7 Jul 2007)

1. [broken link removed] (see weekly budget, p. 16)
2. MSN Money - Five ways to spend less and grow rich
3.


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## Murt10 (7 Jul 2007)

Some of this may be of interest especially the Living Below Your Mean board. It's UK based but a lot of it is relevant here as well.

[broken link removed]


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## ClubMan (8 Jul 2007)

Cs23 said:


> Take home for me and 480 for him.


Hardly a pittance as mentioned above. Sounds like gross income of c. €22K and €29K? Perhaps if you post a more detailed information as I suggested then people might be able to comment further. As it is it's difficult to post anything but the general advice mentioned already.


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## monkeyboy (8 Jul 2007)

ClubMan said:


> What is this all about - in particular the 4.3?
> 
> Update: oops - I guess you're extrapolating the stated weekly income to a calendar monthly figure?



Yup 52/12
....


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## Wonderwoman (9 Jul 2007)

I take home €2700 a month, thats about €620 a week, single income, 3 kids, we manage! Granted, €515 per month tax free from the government every month, and an additional €500 this month(under 6's payment), so €1015 extra every quarter helps in a big way. Mortgage €900 per month, run 2 cars. I am starting to wonder how we do it now! Budget is the only way I guess.


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## ClubMan (9 Jul 2007)

Wonderwoman said:


> Granted, €515 per month tax free from the government every month


What is this €515?


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## Mel (9 Jul 2007)

child benefit probably?


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## ClubMan (9 Jul 2007)

Ah - 3 kids at €160 + €160 + €195 = €515.  Thanks _Mel_.


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## efm (9 Jul 2007)

Cs23 said:


> Take home for me and 480 for him.



So, you take home around €3,800 a month, after rent this leaves you with €3,000 for bills and living.

This means you are better off than me and I have a wife and two kids to feed and clothe!

So maybe you can't buy that 44" plasma or that 07 car or have two holidays a year - well neither can I, and neither can a lot of people - but we can buy a lot of very nice cheese!


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## ClubMan (9 Jul 2007)

efm said:


> So, you take home around €3,800 a month, after rent this leaves you with €3,000 for bills and living.


The original post does not make it clear whether the €800 rent is per week or per month.


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## elefantfresh (9 Jul 2007)

> The original post does not make it clear whether the €800 rent is per week or per month.


 
If the rent is €800 per week, then i think we've found the source of the problem.


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## aircobra19 (9 Jul 2007)

elefantfresh said:


> If the rent is €800 per week, then i think we've found the source of the problem.



http://www.independent.ie/national-news/thousands-in-serious-trouble-on-home-loans-995610.html



Cs23 said:


> ....How to people manage to do it.



A lot of people don't. Theres an awful lot of people leaving beyond their means. You have to live within your budget.


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## z107 (9 Jul 2007)

If you're only getting €400/week, then maybe you should consider giving up work completely. Find out what your options are at your social welfare office. Might even be able to get your rent paid.

A bloke in the pub told me yesterday that he gets €400/day doing a FÁS course. Maybe you could find out more about this as well.


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## elefantfresh (9 Jul 2007)

> €400/day doing a FÁS course


I find that a little difficult to believe.  2k per week - 100k per year?


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## z107 (9 Jul 2007)

> I find that a little difficult to believe.  2k per week - 100k per year?



I find it difficult to believe too, it sounds great! Maybe there is some truth to it. Does anyone know more about this?

(I did say that it was a bloke in the pub told me)


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## nelly (9 Jul 2007)

probably could give you more specific advice if we know some other random details like what type of car do you both run? what type of debt you have and how you spend your money day to day. 
What exactly is your rent for example?


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## Wonderwoman (9 Jul 2007)

Sorry Clubman, yes €515 is Child Benefit, or a godsend! 

Giving up your job at €400 a week? That is just crazy advice in my opinion. Maybe if there were children involved and childcare to take into account along with quality of life etc etc But that is not bad money for someone in their 20's, you have to start somewhere. At least you can be proactive when it comes to working hard getting promotions or educating yourself. Social Welfare payments are often means tested also so you would probably find your partner puts you over the threshold of being entitled to anything!


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## poppy1 (11 Jul 2007)

Hey Cs23 - We manage. Both on 25k a year. Both have cars, building a house at the mo and mortgage will probably be 1100 per month on a 220k mortgage.  We were lucky we could build, defo couldnt afford to buy.
We have no loans and no high credit card bills and have enjoyed 1 good holiday every year. This year we are having no holiday, the house is our priority, and maybe we wont have one next year either! We cant have it all. I drive a 94 car, he drives a 98!! yep would love to have a flashy car but why pay more tax, insurance etc when they all do the same thing..... Spend about 100 per week on food, and go out for a few 1 nite a week and might have a mad night once a month. Bring lunch to work, as it was costing a tenner a day. (weight watchers had a bit to do with that too). And i can still afford to buy €120 euro jeans (at times)!!!
Pay the bills then blow the rest, since the SSIA i only save €100 per month, thats plenty at the moment. Wages will never go up too much (3% each year) so we just get used to it......
So like the rest of the posters say - budget and have a look at what you need as opposed to what you want (or looks good to others etc).


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## nelly (11 Jul 2007)

excellent post Poppy - our situation is similar although we are cheaper eaters thanks to Lidl!


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## Klesser (11 Jul 2007)

I earn 2000pm + 150 CB, my rent is 800pm, childcare = 450pm, Loan repayments 160pm and Save 100pm.  That leaves me with the grand total of 640.00 to live on and pay bills. God i feel so poverty stricken now yet I manage fine, my child never goes without, theres always food in the cupboards and I even get a few nights out as well!  
Budgeting is really annoying when you first start but you get used to it.


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## ClubMan (11 Jul 2007)

It would be useful if the original poster could respond to some of the comments so far when they get a chance but they seem to have gone AWOL.


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## monkeyboy (11 Jul 2007)

umop3p!sdn said:


> A bloke in the pub told me yesterday that he gets €400/day doing a FÁS course. Maybe you could find out more about this as well.



By asking another bloke in another pub !?!


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## Sherman (11 Jul 2007)

Klesser said:


> Loan repayments 160pm and Save 100pm.


 
You'd probably be better off putting the €100 against your outstanding debts than saving it.


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## ClubMan (11 Jul 2007)

Klesser said:


> I earn 2000pm + 150 CB


Plus €250 per quarter _Early Childcare Supplement _or is the child over 6?


> Loan repayments 160pm and Save 100pm.


 I agree with _Sherman _- clear debts first, then save.


> That leaves me with the grand total of 640.00 to live on and pay bills. God i feel so poverty stricken now yet I manage fine, my child never goes without, theres always food in the cupboards and I even get a few nights out as well!


 Fair play to you.


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## Sn@kebite (11 Jul 2007)

umop3p!sdn said:


> A bloke in the pub told me yesterday that he gets €400/day doing a FÁS course. Maybe you could find out more about this as well.


That's _rubbish_ unless he's getting it from the work he's doing not from FAS? (which is still difficult enough to believe)
Or maybe the alcohol intake level impaired his numerical ability.


ClubMan said:


> It would be useful if the original poster could respond to some of the comments so far when they get a chance but they seem to have gone AWOL.


I agree, it's like they've run off to find another job.


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## Sarsfield (11 Jul 2007)

Cs23 said:


> Wages go on 800e rent and bills(petrol, credit card, credit union, car insurance, tax, food, gas, heat..) then left with nothing spare for any luxury things.


 
I'm never sure whether to be amused or concerned when people list their credit card bill in with ESB etc.

Credit card isn't "bills", it's spending!

If your spending is food, heat, insurance, petrol etc, what is on your credit card?  Are you double counting?  Or is your credit card bill in fact the bill for the luxury things you claim not to be able to afford?


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## Sarsfield (11 Jul 2007)

Sherman said:


> You'd probably be better off putting the €100 against your outstanding debts than saving it.


 
Debts or no debts, I think it's a good idea to have a rainy day fund, even at the cost of potential interest savings.  Once there's enough cash put aside for that rainy day, only then should surplus income be put towards repaying debt.


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## PM1234 (11 Jul 2007)

Sarsfield said:


> Debts or no debts, I think it's a good idea to have a rainy day fund, even at the cost of potential interest savings. Once there's enough cash put aside for that rainy day, only then should surplus income be put towards repaying debt.


 
I agree a few months salary will make you feel more comfortable should unforeseen events happen. 

Savings otherwise would be better off used reducing debt and would be more advantageous if ever applying for a mortgage etc also.


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## Marinchik (12 Jul 2007)

Hi all,

just want to add regarding FAS course. I did one before, 1 year ago, maybe they pay a bit more now, but back then it was €180 per week, so there not a chance it could be €400/day 

Plus just to mention, i earn €20K i have a loan repayment €160pm, i'm foreigner and support my family back in my county which costs me €200pm then my rent €400pm, and all this health insurance, gym and plus somehow i do manage to go out, buy outfits and enjoy my life to the fullest..

I gess you just have to work out a budget and live by it.....


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## shanesgal (12 Jul 2007)

How can you not afford to live on that money?  I live on my own, earn €440 and pay all my bills and my mortgage.


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## ClubMan (12 Jul 2007)

Marinchik said:


> i earn €20K


Gross or net of tax/deductions?


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## Marinchik (12 Jul 2007)

Hi Clubman,

Thats gross €20K, i get €360 pw.

Tnks


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## Klesser (12 Jul 2007)

You'd probably be better off putting the €100 against your outstanding debts than saving it.Yesterday 03:20 PM

I had considered this but Im comfortable with the current repayments and will be debt free come november.

"Plus €250 per quarter _Early Childcare Supplement _or is the child over 6?"

I keep forgetting about this!! Yippee off to the post office to collect it!


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## Jaid79 (12 Jul 2007)

umop3p!sdn said:


> If you're only getting €400/week, then maybe you should consider giving up work completely. Find out what your options are at your social welfare office. Might even be able to get your rent paid.
> 
> A bloke in the pub told me yesterday that he gets €400/day doing a FÁS course. Maybe you could find out more about this as well.


 
Which one of you where drunk both maybe?


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