Hi all,
Posted before but not for a while. Circumstances have changed lots of times since, so I could do with some money work-out help if possible.
The last time I posted, I had just been made redundant. I had been with the company for 2 and a bit years, statutory pay given. Found another job within two weeks, one that I am still in. the salary is a good bit less than what I was on.
My fiancé got offered a job away from home with standard start-out graduate pay. Knowing he needed the experience (he had just qualified), he accepted the job. It meant we had to move as we couldn’t afford the costs of renting two places long term. I was luckily able to do this without affecting my job. We used a bulk of our savings to get set up away so quickly.
Within a few weeks, there were pay cuts, and “re-structuring”. Long story short, financially we were unable to save due to the lower wages for both of us but we were covering our outgoings and were comfortable. He was let go about 4 weeks ago due to lack of business, and we decided to move back nearer home for lower rent, and family nearby. Again, I was able to do this with work luckily. We lost out on our security deposit in the other place, and also the tank of oil we had filled (thinking we were there longterm), Bins, etc.
By the grace of whatever person is up there, he has been offered a job yesterday with an immediate start and a decent salary. So we can finally start saving again and put everything behind us.
As it stands:
Me weekly wage: 357.00 (I actually get paid monthly)
Him weekly wage: 424.00
Outgoings: Right now, Living at home with family until Sept / Oct. Offering services and helping out in lieu of rent. Fortunate to have nothing to cover apart from food, approx. 60 per week and petrol approx. 80 euro every 2 weeks between us.I won’t know for sure if this changes until he starts working this week but I would imagine if there is a rise it will be very small.
400 euros rent P/M, due to commence in Sept / Oct. Great offer from family on condition we save at least 400 a month. We were always saving well over that before so this is a brilliant deal. Hope to save at least 1k a month.
Unsure of what bills will be at present, but we’re very good at keeping them low. Also we will have sky back in Oct which as a package is 55 per month. On hold for now. Happy with this package, and we don’t go out much so it’s our “thing”. All packages used and recorded to watch at later times, so wouldn’t change a thing.
No debts at all. Savings currently are approx. 19k. I locked a little over 10k into a deposit account at 3.2%, due to finish in October (7 month lock-in). The remainder is mostly in the Credit Union, and the last 2K in our joint savings account. Both have healthy normal bank balances at present, and at the end of the month we plan to throw whatever is not needed into the savings. We held off doing this until now in case he didn’t find work.
Our aim is to buy a house in 2-3 years and we need a sizable deposit to do so. It’s a particular house that is waiting for us and will need renovations etc. so we want to be well prepared. There's also our wedding next year (small, low cost and not a concern as already covered and excluded from savings listed) and we would like to have a nice honeymoon somewhere different like Cambodia or Vietnam.
I cant even describe how had we worked to get our savings to where they are - we haven't been on a holiday in god knows how long, and worked away as much as we could - extra jobs / hours, whatever was going. We were gutted to have the savings drop recently but it was the best option going. Hoping to get our second 10K together before October, merge the two and put on deposit again with (fingers crossed) a better rate.
There's also the fact I plan on returning to college in the near future (possibly next year, finances depending). I want to do this if financially we can. We're only coming close to mid-twenties so I know we have time, but I'd like to get on the property market while rates / prices are still ok. also should not I might work part time in another job also to boost savings while we can.
Any / all advice appreciated. How much can we save at present, and also going forward from October?
Posted before but not for a while. Circumstances have changed lots of times since, so I could do with some money work-out help if possible.
The last time I posted, I had just been made redundant. I had been with the company for 2 and a bit years, statutory pay given. Found another job within two weeks, one that I am still in. the salary is a good bit less than what I was on.
My fiancé got offered a job away from home with standard start-out graduate pay. Knowing he needed the experience (he had just qualified), he accepted the job. It meant we had to move as we couldn’t afford the costs of renting two places long term. I was luckily able to do this without affecting my job. We used a bulk of our savings to get set up away so quickly.
Within a few weeks, there were pay cuts, and “re-structuring”. Long story short, financially we were unable to save due to the lower wages for both of us but we were covering our outgoings and were comfortable. He was let go about 4 weeks ago due to lack of business, and we decided to move back nearer home for lower rent, and family nearby. Again, I was able to do this with work luckily. We lost out on our security deposit in the other place, and also the tank of oil we had filled (thinking we were there longterm), Bins, etc.
By the grace of whatever person is up there, he has been offered a job yesterday with an immediate start and a decent salary. So we can finally start saving again and put everything behind us.
As it stands:
Me weekly wage: 357.00 (I actually get paid monthly)
Him weekly wage: 424.00
Outgoings: Right now, Living at home with family until Sept / Oct. Offering services and helping out in lieu of rent. Fortunate to have nothing to cover apart from food, approx. 60 per week and petrol approx. 80 euro every 2 weeks between us.I won’t know for sure if this changes until he starts working this week but I would imagine if there is a rise it will be very small.
400 euros rent P/M, due to commence in Sept / Oct. Great offer from family on condition we save at least 400 a month. We were always saving well over that before so this is a brilliant deal. Hope to save at least 1k a month.
Unsure of what bills will be at present, but we’re very good at keeping them low. Also we will have sky back in Oct which as a package is 55 per month. On hold for now. Happy with this package, and we don’t go out much so it’s our “thing”. All packages used and recorded to watch at later times, so wouldn’t change a thing.
No debts at all. Savings currently are approx. 19k. I locked a little over 10k into a deposit account at 3.2%, due to finish in October (7 month lock-in). The remainder is mostly in the Credit Union, and the last 2K in our joint savings account. Both have healthy normal bank balances at present, and at the end of the month we plan to throw whatever is not needed into the savings. We held off doing this until now in case he didn’t find work.
Our aim is to buy a house in 2-3 years and we need a sizable deposit to do so. It’s a particular house that is waiting for us and will need renovations etc. so we want to be well prepared. There's also our wedding next year (small, low cost and not a concern as already covered and excluded from savings listed) and we would like to have a nice honeymoon somewhere different like Cambodia or Vietnam.
I cant even describe how had we worked to get our savings to where they are - we haven't been on a holiday in god knows how long, and worked away as much as we could - extra jobs / hours, whatever was going. We were gutted to have the savings drop recently but it was the best option going. Hoping to get our second 10K together before October, merge the two and put on deposit again with (fingers crossed) a better rate.
There's also the fact I plan on returning to college in the near future (possibly next year, finances depending). I want to do this if financially we can. We're only coming close to mid-twenties so I know we have time, but I'd like to get on the property market while rates / prices are still ok. also should not I might work part time in another job also to boost savings while we can.
Any / all advice appreciated. How much can we save at present, and also going forward from October?
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