Personal Finance

4388 readers

4 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago

MODERATORS

[email protected]

nieceandtows

[email protected]

My salery is decent but I somehow can't afford anything (lemmy.world)

submitted 2 weeks ago* (last edited 2 weeks ago) by [email protected] to c/[email protected]

18 comments fedilink hide all child comments

Where I am from my salery is quite okay to be honest. I get about 3700 € after taxes (state insurances, health care etc.) each month but I don't see me affording a car anytime soon.

I pay about 1200 € a month on my debt for my house, so I have about 2500 € left. Another 600 € go away for electricity, water, trash, internet, phone provider etc...

Leaves me with 1900 € left for the month. I'd say I spend about 900 € for food and household supply a month.

1000 € I save 500 € for my house for later. 250 € for vacation (3000 € in total a year) And 250 € for car.

It is going to take me about 5 years to save for a 15.000 € car. I don't know how people buy BMWs, etc. I know I don't earn that much but I need a car somehow my current car is breaking down and I got no money saved yet. Only about 1500 € cause I spent all my money on paving (had to be done) and my emergency saving wasn't enough for the bill of the paving and other work on that area around my house.

I only save since 3 years cause I wasnt able to before.

I am not even ranting about the joke of a car I might get with 15.000 €. In my country I can't even get the smallest Toyota with that. It's a friggin' joke that a Toyota Aigo or whatever it is called is going for 19.000 € (new) but whatever.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 13 points 2 weeks ago (1 children)

I'm the last person you ever want to ask for financial advice, but I was shocked at how much food costs for you. We spend a little more than half of what you do on groceries.

Also, I'm not sure how common this is in your country, but here in the US, the vast majority of people finance their cars. Most of the people you see driving around in "nice" cars don't own them outright; their bank does, and they're paying off their loan over a period of (usually 5) years.

[–] naonintendois 4 points 2 weeks ago (1 children)

It costs more to finance than to buy outright. The bank wants to make money in interest, so it'd be more than the cost of saving for the car. The longest loan I've seen is 72 months (6 years) and that's still not going to help OP get a new car.

[–] [email protected] 5 points 2 weeks ago

Oh, you're absolutely correct. If you can buy outright, that's the way to go. The only reason I brought that up is because OP mentioned "I don't know how people buy BMWs, etc." Some are rich; a lot are financing. Saving first, if you can, is certainly the best option, though.