What's your savings/ earnings ratio?
- Thread starter Disco Boy
- Start date
[TW]Fox;20787789 said:
Nope. I didn't go to university. I joined the RAF as soon as I left school at 16.
There's not much discipline, I take home over 2k a month and my outgoings are around £200 a month. That's including food and accommodation, mobile phone, bike insurance and petrol. That leaves me with over £1800. For the past three years or so I've saved £1000 from my pay a month in one way or another. On top of my salary, because I'm the military I do out of area tours for which I get a substantial tax free danger bonuses and something like an extra £15 a day while I'm away. These tours usually last 4 months but I've done 6 month tours.
On top of this I inherited about £8000 when I was 18.
Edit: oh and I was lucky enough to win 3k from bonds last yearthough I think I spent that one holiday....
That's what most people took as I am afraid
Which is a pointless measure as a few others have said already.
Some time ago, people used to say aiming for 10% of net income is a good measure:
E.g. Clear £2,000 and save £200.
Of course, that's not possible for all though at least it gives an idea. Right now I aim for 20-30% only possible due to the position I am currently in.
I have saved at around 25% net, some months that was easilly 50%, but other months 5-10% depending on outgong expenses.
From next year I will have a new job, he first months will be epensive (buying a car...), and I will liekly treat myself to a lot of new clothes, gadgets, couple of pairs of skis, big TV, laptop. I don't exect to save more than 10-15% of my net salary for the next 6 months, after that I hope to be saving 50%.
From next year I will have a new job, he first months will be epensive (buying a car...), and I will liekly treat myself to a lot of new clothes, gadgets, couple of pairs of skis, big TV, laptop. I don't exect to save more than 10-15% of my net salary for the next 6 months, after that I hope to be saving 50%.
In which case I suggest reading lessons; the OP is perfectly clear.
I didn't claim, at any stage, that it was meaningful.
I don't spent much on myself but don't really save either.
Most of what's left after expenses goes on gifts/treats nights out for friends & family & the gf.
I've convinced myself the second I get a decent amount of money saved in the bank I'll die in some random horrible accident, but annoyingly I suck at spending money personally.
Most of what's left after expenses goes on gifts/treats nights out for friends & family & the gf.
I've convinced myself the second I get a decent amount of money saved in the bank I'll die in some random horrible accident, but annoyingly I suck at spending money personally.
Really? Why bother posting something like that
Rereading that will probably answer the question above
Ok, we are agreed, your question is not meaningful hence my comment a few posts ago
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How much do you have saved away - how much do you have in savings
compared to
how much you take home - how much do you earn
I fail to see where the lack of clarity lies for anyone with a basic grasp of the English language. The only confusion comes from where people are assuming that I am interested in comparing two months figures. I am not, I am interested in comparing an absolute and annual figure - which is almost useless I will agree, but I am interested in it nonetheless.
I'll edit the OP so that the semi-literate don't get confused.
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Ok great, that will clarify things for all.
Though with that, it means your answer to your own question is incorrect. You haven't saved AWAY 15K from 18K a year have you?
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Nope. I didn't go to university. I joined the RAF as soon as I left school at 16.
There's not much discipline, I take home over 2k a month and my outgoings are around £200 a month. That's including food and accommodation, mobile phone, bike insurance and petrol. That leaves me with over £1800. For the past three years or so I've saved £1000 from my pay a month in one way or another. On top of my salary, because I'm the military I do out of area tours for which I get a substantial tax free danger bonuses and something like an extra £15 a day while I'm away. These tours usually last 4 months but I've done 6 month tours.
On top of this I inherited about £8000 when I was 18.
Edit: oh and I was lucky enough to win 3k from bonds last year
How much were you on when you were 16????
From my workings out; last 3 years you have saved £1,000 pcm, giving you a total of £36k in savings. That's £17k shy of your quoted £59k of your hard earned savings....
Something doesn't add up here.
To be fair, he did say £8K inherited and £3K on some bonds was it? So that's a further £11K.
Then he also said danger money, I don't really know what this equates to in real money after a tour
To have "money saved away" is a colloquial term. Either you are not familiar with this, or you are simply being obtuse.
I expect the latter as you know exactly what I meant.
He has already deducted the £8k from his dad. See above quote. He says he spent the £3k on a holiday.
Anyway, spending 50% of the year on "tour" would equate to a terrible hourly rate of pay.
Well I clearly know what you meant. As I, like most people, took it as percentage of net income.
If you saved £15K from £18K per annum, then you must be living like a hermit with no out-goings. Even when I lived at home, that would be a pretty boring life or no real hobbies.
I thought the danger pay was pretty poo for the amount of danger you are actually in?
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Soldato
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Depends how much danger you're actually in....
I mean disarming bombs - Very dangerous.
Disposing of old ammunition that may go off because it's gone past it's 'best-before' date (or whatever it's called) - Not too dangerous - although if something does go wrong you're screwed..
kd