I am 22 years old, graduated with a biology degree in September. Began my job in November. I earn €24,000 a year- my take home pay is €1848 a month.
.... The most money I had was when I worked 20 hours a week in a supermarket which worked out at about €150 a week.
When I finished college I worked there for the summer.
I earned about €300- €350 a week and had rent, food and bills to pay, but still had maybe 2k of savings after 3 months.
Now I earn about €460-480 a week and until I got paid today, I had €868 of savings, after 9 months.
...I have moved out before to go on a J1 and was delighted to move home again as my parents are so easy going and never ask what time will you be home at, etc. But I am 22 and feel I really should! Also with the car- I worked so hard at learning to drive that I feel I deserve a nice new car.
The 24,000 is before tax. My take home salary is about 22,200. Got a bonus of €1200 yesterday.
I would love to move out but my mother has always drummed into me that "Rent is dead money, you are paying someone else's mortgage rather than paying your own". I mean if I was to move out I would only move a 5 minute drive away.
The fact that I am spending more now than I did when I was earning far less and paying rent and bills really gets to me.
I have earned about 19800 since I started my job and only have €3800... all that money... gone.
...My boyfriend is no better, he is about 9000 in debt and he also lives at home. He spent about 5500 on his first car (mine was 600 but I had to tax it). I suppose thinking of his situation makes me feel better.
It sounds weird but I think we might actually save money by renting a room together. We are both bored to death with our lives and really need some change. The boredom makes us go out to the cimena, shopping, etc etc. I know it sounds very strange.
Just a few things Strawberries, same experience as several other posters, for my first job out of college I gave myself a year's free rein to fritter if I fancied. Time-bounded, as soon as my first year was up I set up a savings scheme which took about 10% of my takehome straight out of my salary at the start of the month so I would get used to it. But it was a pleasure and an indulgence to give myself that year of carefree enjoyment of my income. I didn't abuse it, but I didn't have anything close to €3800 to show at the end of it! I think you are being a little hard on yourself. Yes wasteful spending is not to be encouraged but you are hardly living beyond your means. By all means look seriously now at what you intend to do with your income over the next year, but you haven't wasted your income this year, you should have enjoyed it. Ephemeral maybe, but as you didn't go overboard or run up huge debts, it is okay to enjoy spending money that you can afford to spend, you are not obliged to scrimp and save when you don't have to. €3800 is approximately 20% of €19000, seems like a pretty healthy savings habit to me.
I would disagree with your mum on rent being dead, while it is definitely preferable not to pay it, it is not dead. You are paying for the use of a place. The question is, is the cost of it worthwhile?
On the other hand, your boyfriend's approach to finance seems to be something I would be a little more concerned about if I was considering moving in with him. If you do decide to, then lay the ground rules clearly in terms of rent and common household expenses. You do not want to be the one paying for his lifestyle.
Why are you bored? You have a new job, a good income, a boyfriend, other friends (I assume
), a supportive family and your health. What is it you need? You are the only one that can answer that. Perhaps instead of worrying over your ability to only save 20% of your income you should turn your mind to that question. Resolving the boredom will give you less reason to shop, if the reason you shop is because you are bored.