There are so many factors that will Impact how much individuals are capable of saving ranging from income, fixed/variable expenses, debt, lifestyle, dependants etc.
With the cost of living on the rise.. Would be interested to know how much monthly disposable income everyone is potentially able to save after taking into account all their bills ? What tips or sacrafices to achieve your saving targets? For simplicity let's keep it at an individual rather than the family level.
Will you marry me?
Just another ordinary day in whirlpool forums and or r/ausfinance
Need a negative option, if living off loans, because “Drives a high yield”.
I've got a gut feeling that I'm going to die in some Final Destination accident, so I don't save anything.
I invest all my money into high yield assets.
99.99% of disposable income goes to buy hard assets.
Buying items on sale is savings right?
Poll categories are a total mess. Like my finances
Yep.. sums up where I'm at!
5% of monthly salary
let's keep it at an individual rather than the family level
I can't answer then, although we are a single income family if that counts?
Hi frens
Pain 🚂 coming in fast
Australia housing market is nuts!
“As of March 2022, new home buyers spent 41.4% of their income to repay mortgage repayments
In Sydney, that number is 51.3%. And if they bought a standalone house rather than an apartment, they spent 64.4% of their income on the new mortgage” https://t.co/oJvHNmbzLD
People better start asking for extra shifts or get a 2nd or 3rd job.
Enjoy.
Ah sounds about right. Locked myself into a mortgage with my partner in 2017 and it's sucked the life out of me at around 55% of my after-tax income each month. It's now down to 42.8% thanks to the new job.. but it still hurts with the prospect of higher payments on the way!
Anything worth doing (owning) will be painful. It will test people financially and mentally.
You'll be fine. Keep HODL for the price.
Where is the negative option? I am dipping into my credit cards each month after my wage runs out.
Everyone on here is making over 150k gross so atleast 50k a year. Obviously.
Hmm appears that all the wise years of deals and bargains from the site are working some magic.. as the majority of participants in the polls are have a nice buffer with their disposable income
You would have had more $4000+ I'd you had put it at the end of the poll list.
For the people that are capable of saving over $4,000 per month, you folks must be doing really well. Let us in on your secrets.
My income falls into the top 90% quartile and I might be able to cough up about 3k a month in savings after expenses in a good month.
@Karaxela: I simply meant that in the polls, most people will choose the last option, as it's the most ridiculous normally.
As a serious answer, perhaps it's not about earnings, but living within your means?
@Karaxela: Owning your home outright or having the loan fully offset helps as is being DINKs
Everyone is different though
Every time anti liberal "Scott" locks me out of this forum I also lose temptation to buy junk.
Turning misery into an advantage!
Where's the saving > $16k pm option