# Best thing to do as present for future ref savings (Use or save futher)



## tinkerbell13 (29 Aug 2008)

Age: 25    
Partner's age: 27

Annual gross income from employment or profession: €27000
Annual gross income of spouse: €25000
Type of employment: Both public sectors

In general are you spending more than you earn or are you saving? Saving – Saving maximum amount possible per month.
-         cost 1 / 2 holidays per yrs
-         €450pm on rent/bills
-         €460
           Saving hard for 7 yrs to get minimum mortgage as possible. 
 
Other borrowings – car loans/personal loans etc: None

Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? 0

Savings and investments: 
Savings 170000
Do you have a pension scheme? No

Do you own any investment or other property? No

Ages of children: None

Life insurance: No


*What specific question do you have or what issues are of concern to you? * 
Looking to get best return on saving (with out investing) until savings are required. 

Possibly required over the next 2yrs, waiting on house prices to reduce further. 
Renting for 7 yrs is it time to buy?
Figure we are best waiting ……………???
Personally not leaning either way at the moment, which ever makes move financial since 

Not sure what’s best.
Open to all suggestions/ opinions


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## Kemo_Sabe (29 Aug 2008)

*Re: Best Thing to do with save /buy*

you have a gross annual income of ~50k between you- how the hell have you saved 170k?  well done btw, but assuming you both went to college and graduated age 21, you each been saving about 20k p.a. (on less than the average industrial wage) since then - which seems insane unless you've been living on air

I would continue to save, prices are only going one direction and supply continues to increase. You are saving fortunes by simply sitting and waiting


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## tinkerbell13 (29 Aug 2008)

Not big spenders as you can tell, saving since first job.
Not one to waste money - particularly after looking up the figure of the cost of a mortgage over say 35yrs
Saving them made even more since as the more you have the less you require and the less interest you paid
So sit and wait, what to do with savings until then.
What time scale would be waitin to buy  - any opionion


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## legallady (29 Aug 2008)

wow! I cant believe you have saved that much! May I make a suggestion though, you are only young once, and you should maybe live a little while you can?


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## ClubMan (29 Aug 2008)

Haven't you asked basically the same question twice already!?!

7 regular saver account + 3deposit accounts or 1 deposit account?
What to do with savings!

If you are going to put some or all of your savings on deposit then see here.


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## tinkerbell13 (29 Aug 2008)

Cheers, 
See where you comin from, 
But also see that been strict with money results in longer term benifits! 
Still have have treats and am quite happy with that.
Think i value things even more this way.


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## ClubMan (29 Aug 2008)

tinkerbell13 said:


> Cheers,
> See where you comin from,
> But also see that been strict with money results in longer term benifits!
> Still have have treats and am quite happy with that.
> Think i value things even more this way.


Eh!?!


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## Satanta (29 Aug 2008)

ClubMan said:


> Eh!?!


I assume the reply was in relation to... 


legallady said:


> you are only young once, and you should maybe live a little while you can?


In relation to the query in the OP, it does seem to have been covered in the two existing threads.


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## deedee80 (29 Aug 2008)

Seriously, how in gods name did you save that much???

And pay rent and still have a life?  Thats an incredible amount of money for someone so young with a fairly average wage.

What tips can you lend!


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## ClubMan (29 Aug 2008)

tinkerbell13 said:


> Age: 25
> Partner's age: 27



Married or cohabiting?



> -         €450pm on rent/bills
> -         €460



What is the €460 figure?
€450 sounds very low for rent and all bills?
What other expenditure do you have?



> Savings 170000



I'm also curious about how you managed to accumulate this amount on the salaries mentioned above.


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## tinkerbell13 (29 Aug 2008)

Its not all saving, some is money recieved.
An very good 2 save. 
Rent/house bill is €450 and other exspenses €460 food ect.
Bean a good save is a habit at this stage.


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## tinkerbell13 (29 Aug 2008)

Cohabiting - Salaries as stated above but can also recieve bonus


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## tinkerbell13 (29 Aug 2008)

Its not all savings, some is money recieved.
An very good 2 save. 
Rent/house bill is €450 and other exspenses €460 food ect.
Been a good saver.
Its a habit at this stage.
Cohabiting - Salaries as stated above but can also recieve bonus


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