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

Cs23 said:
Take home for me and 480 for him.
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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!
 
efm said:
So, you take home around €3,800 a month, after rent this leaves you with €3,000 for bills and living.
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The original post does not make it clear whether the €800 rent is per week or per month.
 
The original post does not make it clear whether the €800 rent is per week or per month.
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If the rent is €800 per week, then i think we've found the source of the problem.
 
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.
 
I find that a little difficult to believe. 2k per week - 100k per year?
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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)
 
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?
 
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!
 
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).
 
excellent post Poppy - our situation is similar although we are cheaper eaters thanks to Lidl!
 
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.
 
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.
 
Klesser said:
I earn 2000pm + 150 CB
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Plus €250 per quarter Early Childcare Supplement or is the child over 6?
Loan repayments 160pm and Save 100pm.
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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!
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Fair play to you.
 
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.
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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.
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I agree, it's like they've run off to find another job.
 
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.
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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?
 
Sherman said:
You'd probably be better off putting the €100 against your outstanding debts than saving it.
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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.
 
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.
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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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