How much do you save a month ?

We make them for the Rolls Royce Trent 1000 & GE GEnx-1B, which both are made for the new 787 dreamliner :)

My dad used to have the contract for that job. Not sure how long ago the company lost it. Unless they still have it, do you work for Siemens?

I'm still surprised you get paid so much to make them. My dad was the quality supervisor for the operation, basically never lifted a finger, and made the same as you :confused:
 
The reason I can save as much a month as I can, is down to pure luck with timing the housing market bubble correctly

I always wanted a big house, didn't matter if I had much money left a month. Bought one as soon as I could (age 22/23 IIRC) which just so happened to be just before house prices started going through the roof.

This helped us a few years later when we sold to move to a bigger house as we had perceived equity meaning we could get a really good rate on the new mortgage. House prices then just went silly going up and up and up. Shocking really as if we were starting out now we'd be in a house 1/4 of the size, with double the mortgage.

Now we are in the house we want, the kids are just starting school so both back to work full time we can save again.

Played out nicely for us......but it's all down to luck at the end of the day
 
Nothing at the minute. Not going to be anything great for the future either.

I turn into the green eyed monster reading this thread, I would love to be earning what some are saving, and no matter how you try and look at it and be cool about it, it does make you angry.

I think the thing is some of us are more naturally gifted than others, and then add on the ability to work a lot harder naturally. Humans are different and that is why we earn differently, I will never be well off no matter how hard I try. I want to believe other wise, but every month seems a struggle so far, don't know why it is going to get much better.

The biggest thing that i've seen is that 'luck' does play a part in it too.

For instance, lowly technician man in my last place (when I was IT Support), did an incident response for the head of the company. He got chatting to the head about a mutual interest (tennis), then, based on that conversation leading to a mini-rant of the technician's doing, a Senior Supervisor position was created and the technician was instantly seconded to this role for 1yr.

Monetarily, jumping from £21k to £38k. Then, based on his 'demonstrable experience' at that level, he had a Technical Manager post created to manage the team he was part of. Within 2yrs, he had doubled his salary to £49k.


Another example is a mediocre soloist, was approached by the higher ups about advising them on the general IT-area related to a obtaining a grant. They were on £24k at this stage. Funding bid was won by the higher ups, and the soloist complained that the workload increased. So soloist got more colleagues. He was least qualified and experienced in this new team, but he complained that they lacked direction. So higher ups made him the Manager. £24k -> £55k, and i'm not even embellishing the salary.


You could argue that these people 'make their own destiny', but as far as I can see, they were not impressive, skilled or qualified - they merely were well-placed and were given an opportunity that they didn't seek nor create.

On the flipside, a blight on the family sleeps with her managers whenever possible, and mysteriously, she gets very highly paid roles. The worst of it is that she is positively lethal at the lowest level, at the highest level that she is at now, she has seen the demise of several big business contracts. But, jumps from organisation to organisation when the proverbial hits the fan, as the previous job titles impress more than she does.
 
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Between the other half and I, we save maybe £500 per month - it could be more, but we both work hard and we like to spend money on nice things to help us relax - food, wine, holidays, gadgets, etc. So often it is far lower.

We also have a wedding/honeymoon to pay for and it's only six months away now!
 
Is there any point in saving after you have enough to cover 3 months of outgoings in case you loose your job? Unless you're saving for a big one-off such as a house/wedding/car.

Saving rates are pants at the moment, long term savings are better put into overpaying the mortgage or into a pension thus avoiding 30%+ tax/NI.
 
Only cleared all my debt last month, so hopefully around £300 from now on.

Very much similar to me, I've been working on a £4,000.00 debt recently and I managed to pay it off in 10 months. I should now continue to save £400 a month, but I doubt that's going to happen because I'm going to be moving to a place of my own next month.
 
Very much similar to me, I've been working on a £4,000.00 debt recently and I managed to pay it off in 10 months. I should now continue to save £400 a month, but I doubt that's going to happen because I'm going to be moving to a place of my own next month.

Good job, took me 5 years to clear £18k.
 
I think those that are jealous or intrigued as to how to save even on a lower salary, it really helps if you pay off your debts. once you've done that, and you're less frivolous with your spending, you'll be amazed how you can save up. Even if it takes you a year to save up a few hundred quid, it starts to get easier.

You've got to be really strict with your spending. Budget, and stick to it, and cut out frivolous expenses.

I struggled for about 3-4 years (despite earning a reasonable salary) as I was clearing debts (clocked up nearly 20ks worth through living like a madman), and trying to save for holidays, and buy stupid things I didn't need. I then accepted that I'd just have to accept no new gadgets for a while, no fancy holidays, buy food in bulk to cook it in bulk then freeze it, keep the heating on low and just use a jumper and move onto a PAYG type of call plan etc...

Yes it was / is tough - but once I had everything paid off, and had a bit of a buffer built I was able to relax the budget a little and start to enjoy life again. In the short term it's a pain and not fun - but long term it was (for me) the right thing to do.

Good luck, and don't be jealous - it's hard not to feel a little envy towards others who seem to be living "the dream" but it's so diluted to reality when you post on a forum that it's not really fair to yourself to compare yourself on here. Whilst some of your may not be saving you may still be enjoying a good life or haven't unlocked the potential that isn't currently obvious to you now.
 
I think those that are jealous or intrigued as to how to save even on a lower salary, it really helps if you pay off your debts. once you've done that, and you're less frivolous with your spending, you'll be amazed how you can save up. Even if it takes you a year to save up a few hundred quid, it starts to get easier.

You've got to be really strict with your spending. Budget, and stick to it, and cut out frivolous expenses.

I struggled for about 3-4 years (despite earning a reasonable salary) as I was clearing debts (clocked up nearly 20ks worth through living like a madman), and trying to save for holidays, and buy stupid things I didn't need. I then accepted that I'd just have to accept no new gadgets for a while, no fancy holidays, buy food in bulk to cook it in bulk then freeze it, keep the heating on low and just use a jumper and move onto a PAYG type of call plan etc...

Yes it was / is tough - but once I had everything paid off, and had a bit of a buffer built I was able to relax the budget a little and start to enjoy life again. In the short term it's a pain and not fun - but long term it was (for me) the right thing to do.

That is my plan...

As a student, I wracked up insane level of debt (~£30k) on buying all-sorts - phones, PCs, laptops, books, cars etc.

I'm now in a position to pay stuff off, and am doing so gradually. I've just paid off a high interest credit card (some £1500, costing £50 per month). Leaving me with just 2 more student debts to clear (totalling some £4k).

The funny thing is that I am still able to splash out of stuff, just not as frequently as before. Once everything is fully paid off, I aim to have 3-4 months salary in my current account as a buffer before I start to save like a madman.
 
I save about £5600 a month in my business which gets taxed at 25% at the end of the year.

28, own business as a GIS subcontractor. I live with my wifey and son and pay rent.

But then I did get a masters and move abroad for a good job.

I think a lot of high earners prioritise salary more than others and so are prepared to move/work really hard to get it.
 
My dad used to have the contract for that job. Not sure how long ago the company lost it. Unless they still have it, do you work for Siemens?

I'm still surprised you get paid so much to make them. My dad was the quality supervisor for the operation, basically never lifted a finger, and made the same as you :confused:

The company i work for went through a major struggle production wise, so when i took the job, i had the responsibility to get production started again, build bridges with the customer and also manage a team of 15 over 3 shifts.

It was either i sort it out, or they find someone else to do it, hence the wage.

It wont last much longer i hope, all this pressure on me is hard, the spotlight is on me to get this fixed.

Im taking full advantage of the money as i want to move out, for all i know, i could go to work monday to find im back on normal money, working the same old press.
 
I save about £5600 a month in my business which gets taxed at 25% at the end of the year.

28, own business as a GIS subcontractor. I live with my wifey and son and pay rent.

But then I did get a masters and move abroad for a good job.

I think a lot of high earners prioritise salary more than others and so are prepared to move/work really hard to get it.


The Masters degree isn't that big a deal (although it was a costly one @ £4.5k on top of other student debt), but the relocation is the issue here for many people. I am confident I could earn double what I earn currently by moving to London or moving abroad, but it is such a big gamble that i've discounted it.

Obviously, having debt denies you the ability to emigrate anyway...
 
Freefaller hit the nail on the head on post #109.

Good job, took me 5 years to clear £18k.

Thank you :)

The debt was planned in all fairness though, I knew it was coming for about a year, so it wasn't as though I fell into it by mistake or misjudgement. Although I could've saved up for it before, I was just stupid not too.
 
Well it will be even less for most now since energy bills are going though the roof again.

All we get from the government is you must save, you must put money away for a pension etc, which planet do they live on really :rolleyes::rolleyes:
 
The Masters degree isn't that big a deal (although it was a costly one @ £4.5k on top of other student debt), but the relocation is the issue here for many people. I am confident I could earn double what I earn currently by moving to London or moving abroad, but it is such a big gamble that i've discounted it.

Obviously, having debt denies you the ability to emigrate anyway...

Yeah its luck at the end of the day. Having a masters or not is important in GIS but not so in other lines of work I suppose.

Also I must admit that at first I didn't like Denmark, I was missing my friends back home, the culture is a bit nonexistent, I basically wanted to leave. I was also earning much less as an employee. But I met my misses here and she didn't want to just up sticks and leave her job (she's the sensible one :)) So I just knuckled down to setting up my business to make the best of the situation.

Her contract is up in 2 years and I'm really looking forward to moving back to the UK even though the coin will be way less cushy...
 
It is just easier to look and feel envious than actually do something about it ;)

I understand the situation to be honest, it is my own fault. My past involved a lot of my money being wasted, if I had not fallen into that life style then I would have had a lot more than I do now.

This new young lady I have been seeing said to me how much I had spent on various things over the years, and I almost cried when I worked out a rough estimate.

I could have had my own deposit for a house & an M3 by now :( But it is all my own fault and I know that. It is time to make up for it now though.
 
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