How much money do you earn? And how do you spend it?

[Sly21C]

I know this is a very private question and I apologise for it, but I would realLy like to know how much people in South Africa earn per month, and how they spend it.

I am 23 years old and I earn R8 000 a month before tax, I spend my money on:
Transport (taxi and bus) - R1 500
Groceries (Food and toiletry) - R1 100
Entertainment (Movies, Cd's purchases, clubbing) - R 500
Clothes - R 300
Loan repayments (Furniture, student loan) - R 1500
and I save about R 1200 a month

I don't have a car, house (I stay with my parents), internet access at home nor medical aid because I can't afford them.

[Dolby]

50 views and no replies, eh?

Guess it's too private tbh ;)

[blunomore]

Most people's answer will always be : too little.

[Messugga]

Well, there was a poll a while ago where quite a few people voted. It's thought of as being rude to talk about the money you earn. That said, I'm a student with a part time job, so I don't earn much, but it's enough for the odd toy here and there ;)

[Killove]

on june first when my salary doubles ill tell you then :D

[blunomore]

Well, there was a poll a while ago where quite a few people voted. It's thought of as being rude to talk about the money you earn. That said, I'm a student with a part time job, so I don't earn much, but it's enough for the odd toy here and there ;)


I think people do not talk about it, because some people think if they disclose the salary, others wil either look down on them because of their small salary, or will think they have way too much money and is trying to show off.

The point with money is this: everything is relative - there will always be people who have more than you and there will always be people who are much worse off than you.

[AntiThesis]

I don't care about it so I'll post :D

Help out poor sly man.

I am 25 years old and I earn ~R12 000 a month before tax, I spend my money on:
Transport (petrol) - ~R1 000
Groceries - ~R1 100
Entertainment - ~R 200
Bond - ~R5500
Car payment - ~R1800

Misc other things such as RA, other investment plans and so on.

[Messugga]

blu, true that. What's a lot to some, is little to others.

[andres101]

good going with the savings! always try to save at least 10% of your salary. I hope you are not keeping it in a bank account!? unit trusts are a better option.

my guess is that you just started working... nobody will tell you how much they earn. it makes people jealous and unhappy and creates conflict. I learnt that the hard way!

I will however give you some percentages from my budget (post tax):
accommodation 50%
savings 20%
transport 10%
food 5%
insurance 4%
clothing accounts 3%

[Picard]

I don't care about it so I'll post :D

Help out poor sly man.

I am 25 years old and I earn ~R12 000 a month before tax, I spend my money on:
Transport (petrol) - ~R1 000
Groceries - ~R1 100
Entertainment - ~R 200
Bond - ~R5500
Car payment - ~R1800

Misc other things such as RA, other investment plans and so on.

With 12 grand you're hardly poor.

[Deenem]

unit trusts are a better option.

Unit trusts are a terrible option!!!

I put thousands into unit trusts before realising before realising the only person making money was the broker.

If you're going to invest some money every month put it into one of those index linked products like SATRIX.

[Bondizzo]

Wont say how much I earn but here are my expenses

Transport - R600 (Petrol)
Water Bill - R1200
Electricity - R900
Telkom/ADSL - R900
Cell Phone Contract - R250
Investment into my own business - R2000
Entertainment - R1000
Misc Accounts (MyUs/WebHosting) - R300
Money Market Savings - 4000

Still live with my parents but I help out with the bills and the cars paid off.

[Sly21C]

I don't care about it so I'll post :D

Help out poor sly man.

I am 25 years old and I earn ~R12 000 a month before tax, I spend my money on:
Transport (petrol) - ~R1 000
Groceries - ~R1 100
Entertainment - ~R 200
Bond - ~R5500
Car payment - ~R1800

Misc other things such as RA, other investment plans and so on.

Thank you very much for disclosing how much you earn and how you spend it. I think it's good for people to share information with other people, but I realise that this (disclosing of a salary) is very private. If I see someone who is about my age, who earns more or less the same salary that I earn but drives a very nice car or lives in a nice place, I'd always ask myself how that person spends his salary.

[blunomore]

Unit trusts are a terrible option!!!

I put thousands into unit trusts before realising before realising the only person making money was the broker.

If you're going to invest some money every month put it into one of those index linked products like SATRIX.


I could not agree more about the unit trusts. Waste of time and money.

[AntiThesis]

With 12 grand you're hardly poor.

There are a good few other misc. costs that aren't in there (for more personal reasons) that wipe me right out :) But I'm working to fix that so meh.

[xrapidx]

blu, true that. What's a lot to some, is little to others.


With 12 grand you're hardly poor.

In your eyes maybe..... it all depends on the person. I know I need a lot to come out each month.

[Devill]

35% entertainment (you only live once)

35% Need to buy things (food, rent, ect)

10% Clothes / shoes

10% gf (and no not hiring her :p, just upkeep :D flowers and stuff like that)

10% Save

Im lucky my parents are paying for my studies....that really helps alot :)

And i have a payed for car.

[Devill]

In your eyes maybe..... it all depends on the person. I know I WANT a lot to come out with each month.

:D:D:D

[Sly21C]

50 views and no replies, eh?

Guess it's too private tbh ;)

I'm definitely not going to ask how much money you have or how much you are worth (RA, savings, etc), I think that is too private, but asking how much someone earns is private, but not unacceptible (I think if I asked how much money you have in RA and/or savings is totally unacceptible). I know a few people who earn more or less the same salary I earn but they are driving very nice cars (expensive cars for the salary they are earning), and I wondered how they find the money to pay for their car's instalments, insurance and general maintenence costs.

[xrapidx]

Bond1 - R5000
Bond2 - R5000
Income from both, R8000


Thats a pretty good ratio.

[xrapidx]

:D:D:D

No... I have quite a bit left each month :p I'm content with what I earn at the moment.

[bodhi]

Rent , food , CDs and DVDs , clothes - the usual stuff :)

get about 7K per month :D

[greg_SA]

I know this is a very private question and I apologise for it, but I would realLy like to know how much people in South Africa earn per month, and how they spend it.

I don't have a car, house (I stay with my parents), internet access at home nor medical aid because I can't afford them.

Dude, please get some form of medical cover! At least a Hospital Plan... in a car accident, it is easy to see hospital bills of say R50k... without medical cover, you are screwed! IMHO this is necessary even if you save a bit less each month.

[Dolby]

Dude, please get some form of medical cover! At least a Hospital Plan... in a car accident, it is easy to see hospital bills of say R50k... without medical cover, you are screwed!

Agreed ...

[blonde one]

Wont say how much I earn but here are my expenses

Transport - R600 (Petrol)
Water Bill - R1200
Electricity - R900
Telkom/ADSL - R900
Cell Phone Contract - R250
Investment into my own business - R2000
Entertainment - R1000
Misc Accounts (MyUs/WebHosting) - R300
Money Market Savings - 4000

Still live with my parents but I help out with the bills and the cars paid off.

I have to ask :D
What do you do with R1200.00 worth of water?

[Arzy]

My split is basically as follows:
Medical 2,435.00
Insurance 1,710.00
Clothing Accounts 350.00 (soon to be 0.00)
Cellular Phone 500.00
Petrol 1,500.00
Levy 1,800.00
Maid 800.00
Phone & Internet 355.00
Food 2,000.00

[Bondizzo]

I have to ask :D
What do you do with R1200.00 worth of water?

lol, about 6 other ppl use the water, plus theres a garden, pool, fishpond. I haven't checked the actual statements but our payments are backlogged a month back so I chip in a bit more to eventually get it cleared

[Shake&Bake]

I was gonna ask about that water bill as well - thought he ran a water park or car wash from home :) j/k

[Sly21C]

My split is basically as follows:
Medical 2,435.00
Insurance 1,710.00
Clothing Accounts 350.00 (soon to be 0.00)
Cellular Phone 500.00
Petrol 1,500.00
Levy 1,800.00
Maid 800.00
Phone & Internet 355.00
Food 2,000.00

So you probably earn about R15 K/R20 K per month?

[xrapidx]

Just turned 28 - so I've been working for 7-years.

Cellphone/Data: R1200.00
Rent: R7000.00
Medical: Need to get on a new one
Car Repayment: R3700.00
Home Insurance: R170.00
S2000 Insurance: R700.00
Hilux Insurance: R400.00
Maid: R400.00
Petrol: R2000.00
Food: R3000.00
Entertainment: R3000.00 (includes eating out/take-ways)
Investment Policies: R2000.00
Savings Account: R7000.00

Can't think of anything else.

Don't have any clothing accounts, or any accounts besides a cheque and credit card.

[Dolby]

Just turned 28 - so I've been working for 7-years.

Cellphone/Data: R1200.00
Rent: R7000.00
Medical: Need to get on a new one
Car Repayment: R3700.00
Home Insurance: R170.00
S2000 Insurance: R700.00
Hilux Insurance: R400.00
Maid: R400.00
Petrol: R2000.00
Food: R3000.00
Entertainment: R3000.00 (includes eating out/take-ways)
Investment Policies: R2000.00
Savings Account: R7000.00

Can't think of anything else.

Don't have any clothing accounts, or any accounts besides a cheque and credit card.

Er. How are your priorities? ;) You don't own properties, but between yours cars, saving, rent & investments - you're spending over 20,000? And you're still spending excessivly on entertainment?

[Sly21C]

Just turned 28 - so I've been working for 7-years.

Cellphone/Data: R1200.00
Rent: R7000.00
Medical: Need to get on a new one
Car Repayment: R3700.00
Home Insurance: R170.00
S2000 Insurance: R700.00
Hilux Insurance: R400.00
Maid: R400.00
Petrol: R2000.00
Food: R3000.00
Entertainment: R3000.00 (includes eating out/take-ways)
Investment Policies: R2000.00
Savings Account: R7000.00

Can't think of anything else.

Don't have any clothing accounts, or any accounts besides a cheque and credit card.

So you earn about R35 000/R40 000 per month? What job do you do if you don't mind me asking?

[Roller]

One post wonder since I would prefer not to reveal names.

35yrs old - R40000 gross + R3500 Rent

Tax - R11k
Bond - R9k
Rent - R4k (incl elec & water)
Car - R2k
DSTV & ADSL - R1k
Phones - R1k
Entertainment - R4k
Food - R3k
Living Expenses - R4k
Tithing - R1k
Savings - R1.5k
Loans - R2k

2 member household, wife doesn't work. Renting a place that is willed to me.

[xrapidx]

Er. How are your priorities? ;) You don't own properties, but between yours cars, saving, rent & investments - you're spending over 20,000? And you're still spending excessivly on entertainment?

I own two properties as part of a trust - but I don't really consider them mine.

I was very keen on buying a property recently, but worked out that I'd be paying about R18,000/pm INTEREST, only R2,000 would go to the bond. If I paid R7,000 rent, and put R13,000 into investments, I'd probably end up with more over the same period of time.

I only owe a small amount on the Honda S2000 - the Hilux I own. Entertainment isn't really that excessive, I decent restuarant is about R500 for two. A night out the same.

[Bondizzo]

Just turned 28 - so I've been working for 7-years.

Cellphone/Data: R1200.00
Rent: R7000.00
Medical: Need to get on a new one
Car Repayment: R3700.00
Home Insurance: R170.00
S2000 Insurance: R700.00
Hilux Insurance: R400.00
Maid: R400.00
Petrol: R2000.00
Food: R3000.00
Entertainment: R3000.00 (includes eating out/take-ways)
Investment Policies: R2000.00
Savings Account: R7000.00

Can't think of anything else.

Don't have any clothing accounts, or any accounts besides a cheque and credit card.

cool thing you saving alot.

[xrapidx]

So you earn about R35 000/R40 000 per month? What job do you do if you don't mind me asking?

Not comfortable posting that here, but no.

IT Consultant (and a contractor) - generally anything Microsoft, but mostly data orientated, e.g. data warehousing.

[Dolby]

I assume you use the Hilux for work?

I'm sure if they see your S2000 etc, they'll think they're paying you too much ;)

[xrapidx]

Here's the thing - I probably should be paid just about half of what I'm getting, but I got lucky - it happens sometimes, I'm hoping it will last - but all good things end.

[xrapidx]

I assume you use the Hilux for work?

I'm sure if they see your S2000 etc, they'll think they're paying you too much ;)

I've actually been worried about that... cause they have noticed... but no one seems to believe I paid R178,000.

[Pitbull]

Er. How are your priorities? ;) You don't own properties, but between yours cars, saving, rent & investments - you're spending over 20,000? And you're still spending excessivly on entertainment?

What is the use of earning money and being able to enjoy it.

I pay my debt and rent, Rest I spend :D

I note little of you guys have medical aid :eek: My medical aid alone is just over R 5k :eek: Lucky I only pay 40% but My share is R 2200 or something like that. Now that is nasty :(

[xrapidx]

I note little of you guys have medical aid :eek: My medical aid alone is just over R 5k :eek: Lucky I only pay 40% but My share is R 2200 or something like that. Now that is nasty :(

Does that include your gym 'equipment'????

I've only ever been on a hospital plan - considering I never go to the doctor, paying more would really be a waste for me.

[alf101]

I own two properties as part of a trust - but I don't really consider them mine.

I was very keen on buying a property recently, but worked out that I'd be paying about R18,000/pm INTEREST, only R2,000 would go to the bond. If I paid R7,000 rent, and put R13,000 into investments, I'd probably end up with more over the same period of time.

I only owe a small amount on the Honda S2000 - the Hilux I own. Entertainment isn't really that excessive, I decent restuarant is about R500 for two. A night out the same.

Good to hear.
Once u have over 100k to put in the bond, you'll be fine for a couple of years.

I did the same.
Adding an extra 50k to 100k to it per year as well.

[xrapidx]

Good to hear.
Once u have over 100k to put in the bond, you'll be fine for a couple of years.

I did the same.
Adding an extra 50k to 100k to it per year as well.

If you have a bond repayment of R20,000 over 20 years, R100,000 will only cover five months though :( I suppose over the course of the entire bond, the R100,000 makes a huge difference.

After financing R138,000 on the Honda S2000, and seeing the interest is R2,300pm and the monthly payment R3,700, I realised I never want to borrow money again.

[Jonny Two Shoes]

Lets see, Im 22 years old.

Gross salary: R10700-00
After tax, medical aid, retirement plan etc: R7950-00

Car: R1925-00
Insurance on car: R975-00
Boarding fee: R2000-00
Martial arts: R120-00
Cellphone: R300-00 (In the region of)
Internet: R300-00 (In the region of, my portion of shared cost)

That leaves me with roughly: R2200-00

Petrol + food + entertainment + bank charges etc.. eats R2200-00 pretty quick during a month.

So thus far I am saving nothing. I have been meaning to try work a better budget and save a bit more somehow :/

[Pitbull]

Does that include your gym 'equipment'????

I've only ever been on a hospital plan - considering I never go to the doctor, paying more would really be a waste for me.

I would love too, but I have 2 small kids :( Once they get little older, I'll get a Hospital plan only ;)

[xrapidx]

I would love too, but I have 2 small kids :( Once they get little older, I'll get a Hospital plan only ;)

Ah...right... forgot about that, assumed everyone was quoting as single :p

[alf101]

If you have a bond repayment of R20,000 over 20 years, R100,000 will only cover five months though :( I suppose over the course of the entire bond, the R100,000 makes a huge difference.

After financing R138,000 on the Honda S2000, and seeing the interest is R2,300pm and the monthly payment R3,700, I realised I never want to borrow money again.

If you're unemployed yes.

If your bond repayment and other expenses were to go up and your normal salary doesn't cover it, u have the 100k to help u through it.

[xrapidx]

If you're unemployed yes.

Thats my biggest concern in South Africa - If I one day am out of work, I'll probalby immigrate, I'm not going through the hassel of trying to match my current job and benefits.

[cyberarmy]

Staying with parents, no girl friend, walking distance to work, R18000 before any deductions and R15000 before tax. 24yrs young and going to make a plan for help with family expenses and investment.

[alf101]

Staying with parents, no girl friend, walking distance to work, R18000 before any deductions and R15000 before tax. 24yrs young and going to make a plan for help with family expenses and investment.

Think u beat everyone here, as far as % expenses goes..

[dhez]

I could not agree more about the unit trusts. Waste of time and money.



buy sasol shares as a long term investment 5-10years, buy a little every month

[cyberarmy]

Think u beat everyone here, as far as % expenses goes..

I know.....Although it's walking distance but I still drive to work, I putted full tank before price hike beginning of month and till today it shows more than 3/4 tank left. This includes my daily trip to work/back and going out during weekends. But my mom had two stokes during early March so I will need to help with the medical expenses (we pay before claim from med aid) and re-hab costs.......

[Pitbull]

Ok let me be out right and say how much i earn


a Louzy R 120 - 200 a month.

The wife gets the rest. The above is my WoW subscription :D

[Pitbull]

buy sasol shares as a long term investment 5-10years, buy a little every month

U need to be BLACK !

[alf101]

Here's some of my expenses over a year.
Spend more on smoking than on my car it seems.:o

Bank Charges 1,769.32
Bills 45,356.68
Car / Petrol 7,315.84
Cigarette 7,804.39
Clothing 4,144.20
Computer 876.96
Dining Out 5,562.74
Education 2,858.00
Flying 52,216.86
Gifts 4,168.86
Groceries 23,312.17
Healthcare 3,936.27
Household 17,766.07
Insurance 3,440.71
Leisure & Entertainment 9,013.68
Personal Care 1,638.39
Travel/Vacation 5,432.00

[xrapidx]

You use ms money.

lemme do mine

[xrapidx]

Last 12 months, sorted by amount.

Automobile R 82,086.54
Bills R 75,316.39
Food R 46,147.37
Household R 37,193.68
Loan R 24,488.09
Leisure R 23,212.53
Insurance R 17,351.15
Vacation R 10,387.70
Travel R 9,893.91
Miscellaneous R 9,163.61
Computer R 9,056.85
Bank Charges R 8,751.09
Clothing R 7,636.51
Gifts R 7,126.11
Other R 3,341.89
Personal Care R 2,807.04
Income/Expense Mistake R 2,094.67
Pet Care R 1,777.37
Sport R 867.85
Healthcare R 668.04
Accounts R 495.00
Education R 376.76

[Mephisto_Helix]

Pet Care 1777.37

... mine is about 2500 a year :o

[xrapidx]

... mine is about 2500 a year :o

Thing is... I don't have a pet... A bit confused now. :confused:

[Mephisto_Helix]

Err .... so what the hek is Pet Care, lol

[alf101]

Thing is... I don't have a pet... A bit confused now. :confused:

Does this help?
http://mybroadband.co.za/photos/showphoto.php?photo=1508&ppuser=25919

[xrapidx]

Err .... so what the hek is Pet Care, lol

Ah... my girlfriends fish tank, and fish... had to check on that for a second...

[xrapidx]

Does this help?
http://mybroadband.co.za/photos/showphoto.php?photo=1508&ppuser=25919

ROFL... wrong.... but right too :rolleyes:

[Jonny Two Shoes]

Err .... so what the hek is Pet Care, lol



Caring for your pet?

[Mephisto_Helix]

Ah... my girlfriends fish tank, and fish... had to check on that for a second...

Expensive little fskers eh :D Mine is for 5 dogs. :eek:

[xrapidx]

Expensive little fskers eh :D Mine is for 5 dogs. :eek:

It includes the tank which was about R700 :p

[Mephisto_Helix]

Meh .... never seen the point in caring/paying span cash for my food :p

[xrapidx]

Meh .... never seen the point in caring/paying span cash for my food :p

I wasnt even allowed to flush the wish when I left Jhb... she made me find them a new home... I had to go and buy a new soap-free bucket just to transfer the damn potential sushi.

[Sly21C]

Lets see, Im 22 years old.

Gross salary: R10700-00
After tax, medical aid, retirement plan etc: R7950-00

Car: R1925-00
Insurance on car: R975-00
Boarding fee: R2000-00
Martial arts: R120-00
Cellphone: R300-00 (In the region of)
Internet: R300-00 (In the region of, my portion of shared cost)

That leaves me with roughly: R2200-00

Petrol + food + entertainment + bank charges etc.. eats R2200-00 pretty quick during a month.

So thus far I am saving nothing. I have been meaning to try work a better budget and save a bit more somehow :/

I think it's a good idea to save, I save rather than get a car but I would be lying if I said I'm happy that I don't have a car. I also need to get medical aid.

[dhez]

johnny two shoes is getting ripped off on insurance

[Dolby]

He's 21 ...

I was quoted R1500.00 for my insurance at 27 ... no claims ... for a R200,000 car :/

[xrapidx]

He's 21 ...

I was quoted R1500.00 for my insurance at 27 ... no claims ... for a R200,000 car :/

Yup... before going through a broker, I was quoted between R1500 and R1750 for the S2000, this from the Dial Directs, A&G, Budget, etc. 'cheap' companies... now I pay R700.

[Loman]

I'm gonna wait for another 2 years before i get insurance. ( i'll be 25 then)

[cyberarmy]

I'm gonna wait for another 2 years before i get insurance. ( i'll be 25 then)

Or put the car insurance together with your household/your parents' household insurance. It's cheaper like that and that's what we do.

[xrapidx]

Or put the car insurance together with your household/your parents' household insurance. It's cheaper like that and that's what we do.

It also won't pay out if he's not specified as the regular driver.

[cyberarmy]

It also won't pay out if he's not specified as the regular driver.

It depends on what insurance company and broker you spoke to I guess.

[Loman]

Or put the car insurance together with your household/your parents' household insurance. It's cheaper like that and that's what we do.

My parents' car is, well...........kinda mycar.

[Loman]

Which insurance company is the best value for money, considering i don't have a lot of money.

I thought outsurance is beating everyone a.t.m

[alf101]

Which insurance company is the best value for money, considering i don't have a lot of money.

I thought outsurance is beating everyone a.t.m

Phone a multi broker, they take a commission, but they find it for u.

[Loman]

I've only been to Hippo, ill try outsurance next

[Dolby]

I've actually been worried about that... cause they have noticed... but no one seems to believe I paid R178,000.


What is the use of earning money and being able to enjoy it.

I pay my debt and rent, Rest I spend :D

I note little of you guys have medical aid :eek: My medical aid alone is just over R 5k :eek: Lucky I only pay 40% but My share is R 2200 or something like that. Now that is nasty :(


Which insurance company is the best value for money, considering i don't have a lot of money.

I thought outsurance is beating everyone a.t.m

Try Miway insurance too ....

[xrapidx]

I know I wont get lower than what I currently pay.... The broker is through a friend, and is doing it as a favour, he usually only does corporate clients.

[LancelotSA]

Unit trusts are a terrible option!!!

I put thousands into unit trusts before realising before realising the only person making money was the broker.

If you're going to invest some money every month put it into one of those index linked products like SATRIX.

Damn, that is a generalisation if ever there was one. Unit trusts give you access to virtually limitless portfolios so to state they do not make you money is mad. Your portfolio choice obviously did not match your objectives and expectations. In my experience most investment decisions are made on fear and greed! Chase the top performers when you should be looking for value and selling out in times of strife instead of buying in while the units are cheap.

Yes, there are fees but there are fees with any product. It is how transparent the fees are that make an investor "think" certain products are expensive. Hey, I have heard someone telling me they'll rather just put their money in a bank as there are no fees there!! ha ha ha.


In line with industry trends, Satrix will reduce its initial fee on its investment plan from 0,65 to 0,35%. However, the annual management fee will be raised from 0,8 to 1%. The changes will take effect after June 1 2006.

Although this fee structure will be cheaper for investors in the short term, it will prove more expensive over longer periods.

For example, if you invest a lump sum of R10 000 for ten years, and it grows at 20% per year, you will save R30 on initial fees, but pay roughly R120 more on annual fees.

The cost of selling your Satrix shares through the investment plan remains unchanged at 0,1%.

[LancelotSA]

Which insurance company is the best value for money, considering i don't have a lot of money.

I thought outsurance is beating everyone a.t.m

These guys and dial direct do make me laugh... they base their whole advertising campaign on cutting out the middle man and therefore being able to offer you cheaper rates, but can someone please tell me who pays for those 30 minute segments on TV then? Do you not think this would cost more than the percentage a broker takes?

My personal experience is that they have not been cheaper.

[xrapidx]

These guys and dial direct do make me laugh... they base their whole advertising campaign on cutting out the middle man and therefore being able to offer you cheaper rates, but can someone please tell me who pays for those 30 minute segments on TV then? Do you not think this would cost more than the percentage a broker takes?

My personal experience is that they have not been cheaper.

Dial Direct are a vile company - Still sitting with a damaged vehicle after they tried to fit pirate parts. I honestly believe the vehicle was in a better condition right after the accident than after they 'fixed' it.

Its now with the short-term ombudsman. Hopefully they nail them - Dial Direct had a chance to rectify recently, and I told them I wouldn't take the car to one of their backyard mechanics until I'd seen a fax of what was to be done. They couldn't even get the fax right. So I've resubmitted the complaint to the ombusdman.

[alf101]

I use Mutual and Federal.
They let me go to Orbit Coachworks to fix my car.
Pretty happy with them.

[Maelly]

Threadkiller!!!!!!!!!!!

[Turtle]

I know this is a very private question and I apologise for it, but I would realLy like to know how much people in South Africa earn per month, and how they spend it.

I am 23 years old and I earn R8 000 a month before tax, I spend my money on:
Transport (taxi and bus) - R1 500
Groceries (Food and toiletry) - R1 100
Entertainment (Movies, Cd's purchases, clubbing) - R 500
Clothes - R 300
Loan repayments (Furniture, student loan) - R 1500
and I save about R 1200 a month

I don't have a car, house (I stay with my parents), internet access at home nor medical aid because I can't afford them.

Kudos for saving, that's a very good habit, a must actually.

Funny, I (in early 30s) earn around R16K/month after tax and I currently spend less than you per month on entertainment and clothes - not more than R200/mo on entertainment, and less than R200/mo average on clothes (you can wear old crappy clothes, seriously). But I do have a basic medical aid (hospital plan, +/- R800). I have an 11-year old car which I bought second hand 9 years ago and is already paid off - a new car would be nice, but this one works, I don't need a fancy car.

My two biggest monthly costs are a home loan repayment (about R7K - was about R6K when I bought, but has gone up now with the interest rates) and retirement annuity (about R3K). Groceries are about identical to you, around R1.1K. Then there are property levies, around R1K. Other odds and ends (cellphone, electricity, Internet etc.) probably around R1.5K. I save a lot on transport by working from home (and don't go out much either). If/when I have extra money I use it to pay off the home loan faster, you pay much less interest that way in the long run (I suggest taking a portion of your 'savings' allocation to pay off your debt faster too if you can save interest that way, as you usually pay higher interest on debt than you generally earn on savings).

[Brawler]

As a 20 year old I.T technician its not even worth mentioning my salary :sick:

[Turtle]

I'm definitely not going to ask how much money you have or how much you are worth (RA, savings, etc), I think that is too private, but asking how much someone earns is private, but not unacceptible

Most of us aren't posting under real names anyway so I think it's OK :)

Actually, I think it's good to talk about these things, maybe if we actually talked about them more, we might learn a few things and wouldn't be so bad at handling our money. I do NOT despise the rich (that's childish) PROVIDED they actually *earned* their money honestly; in fact, if somebody else is successful, perhaps one can learn a few things from them about how to become successful. If you 'hate the rich', it means you can't logically become rich, or you'd have to hate yourself. And I don't envy the rich (if they've earned what they have) because I trust I'll get there one day, in my own time, when I've earned it :) I don't look down on people who earn less either - I used to earn much less too, that would mean looking down on my (old) self, it makes no sense. Anybody has the potnetial to become anything.

What I've noticed though in most cases that there seems to be a pretty strong correlation between age and wealth. The older and more experienced you get, the more you earn and the more you learn about better handling money and so on. I.e. it just takes time.

Unfortunately there's a lot of dishonest money about in SA, but I think most wealthy people really really worked hard and sacrificed a lot to get there, and they deserve it. It has more to do with hard work and smarts than with 'luck', if somebody is more successful than me, usually if I look I can find reasons for it (e.g. they waste less time in online forums ;)) and learn from those.


I know a few people who earn more or less the same salary I earn but they are driving very nice cars (expensive cars for the salary they are earning), and I wondered how they find the money to pay for their car's instalments, insurance and general maintenence costs.

Probably lots of different possible answers to that: Other (legal or illegal) sources of income on the side (and sometimes moonlighting = illegal) they won't tell you about, rich parents who help them out, or they got an inheritance, or have gotten too deep in debt, possibly leeching off other people for certain other expenses, having zero savings etc. Some people don't have student loans to pay off because they got bursaries/scholarships or because their parents paid for their studies. Some may get additional vehicle/transport subsidies that you may not know about if you just hear their salary. Some loan money from friends/family when they need some and then 'forget' to pay it back. I don't know though!?

[Turtle]

I was very keen on buying a property recently, but worked out that I'd be paying about R18,000/pm INTEREST, only R2,000 would go to the bond. If I paid R7,000 rent, and put R13,000 into investments, I'd probably end up with more over the same period of time.
Sh*te, what property are you looking at, why not just start with a smaller property? You'd pay less interest and could save a huge amount on the interest by paying it off a LOT faster, plus you'd have a buffer in case your 'good thing ends' job-wise. You don't need a big property to live in, two-bedroom townhouse type thing is fine, so if push comes to shove (rainy day etc.) you'd at least have an affordable place to stay - if not, the rest can go into other savings/investments anyway and then you at least have the luxury of a balanced investment portfolio (and comparatively further-paid-off assets) - a much better position to handle 'emergencies' too, or if you decide to have kids then you'll have more robust savings. (Once the smaller property is paid off, then you could consider either renting it out or selling and using the cash as a deposit on a larger property if you see you're still earning well, or diversify further e.g. offshore investments as a hedge against possible Rand depreciation especially as you're considering emigration someday (since if the Rand dives and you sell and leave, Rand assets will not be worth all that much anyway in a foreign currency = bad --- get a bit of savings in other currencies).) You've also got a fair bit of room elsewhere to trim other expenses and save a lot more, you're in a 'fortunate' position for your age, why not be hyper-frugal and aim for relative 'financial independence' :). You're right about avoiding interest at least, but if you earn R40K you should be saving/investing closer to half of that, seriously, you never know what's round the corner. (Plus emigrating costs a lot too, you should put aside at least R50K-R100K just for that.)

[xrapidx]

I am investing more than half..... anything thats left each month goes away.... the savings account is for a rainy day.

Problem is, where do you find a decent property, in a decent area, close enough to work for under 1.2 - 1.5m?

With the price of petrol, its pointless buying a place miles away from work because its cheaper, only to find out you make up the difference in petrol?

[Picard]

Most of us aren't posting under real names anyway so I think it's OK :)
... I do NOT despise the rich (that's childish) PROVIDED they actually *earned* their money honestly ...

Then I hope you don't look down upon the people that doesn't make as much even if they also put in a decent day's work.

[AutoX]

lol

[Turtle]

Then I hope you don't look down upon the people that doesn't make as much even if they also put in a decent day's work.

Clearly you've assumed I do, but apparently you didn't finish reading my post. The only people I look down on in life are people who are not decent, honest human beings, which in my experience has absolutely nothing to do with how much money a person has or makes. I look down on people who look down on people, amongst other things; I respect people who treat others with respect and have honesty, integrity and manners. I also do not respect lazy people (both laziness to think and laziness to work).

I don't know what you mean by a "a decent day's work", that could mean a helluva lot of things, but how much you end up earning in life is a combination of (a) hard work, (b) smarts (I don't mean 'intelligence'), (c) luck, (d) self-respect, (e) the labour market value of your skills, and (f) the willingness and drive to learn new skills. A "decent day's work" could mean "strictly 8 hours a day 5 days a week, and family/relationships/personal after hours", but it could also mean "12-14 hours a day 7 days a week, sacrificing personal relationships and health, taking on greater responsibility and greater debt and risking everything to start a business". The difference is massive. Such a phrase could mean absolutely anything, and you never know what any other person has truly been through to get to where they are. Feel free to assume you know, but it doesn't change the fact you never, ever, ever know, even if somebody tells you 'it was easy', nobody ever tells the whole truth. You can't know and never will. You can chalk up differences to the whole world being unfair, or you could be realistic, try not to judge, and just try to learn what you can out of any encounter to improve yourself.

Being poor doesn't make a person noble any more than being rich makes a person evil.

You sound bitter, as though you feel you've put in exactly what 'someone else' has but haven't earned as much. I'm willing to bet that if we were to really analyse this critically and fairly it's not as straight-forward as you suggest. See, I also feel that way often - I'm not rich, but have seen others less capable and less hardworking than me earn far more - but I don't get bitter about it, rather, I acknowledge that they are doing something differently to what I am doing, and that ideally I should learn what that difference is, and then decide whether or not I'm willing to adopt those differences myself. And if I'm willing to be really self-critical, I always find something --- for example, selling myself short, e.g. allowing myself to put up with a lower salary when I could really have just moved to another company - or, not marketing my skills well, or not respecting myself enough to expect better. My own decisions, and I bear the responsibility - it's not a grand plot by the whole world to keep Turtle down, we all have roughly equal opportunities. I started with nothing.

[IzZzy]

Projected budget for next year January when I start work:

Rent: 4000-6000
Petrol: 1400-2000
Medical Aid: Dont know exacts
Food: 1000ish
Car Repayment: 1600
Insurance: No Idea
Entertainment: Expected to be non-existent
Savings: Expected to be non-existent for the short term
Expenses: Buying suits/shoes/start up furniture/appliances
Tax: ???
Flights to Durban once a month minimum: +-R700

Total salary: R15400 pre-tax
Age: 22

[adamr]

i am earning good enough to save half my income, after expenses. Past two months i have not grown my balance for the first time ever. Need to relook at the management of my finances

[sly]

R17.5 Pre-tax
Company Deductions R5k(MED AID,TAX, PENS. GROUP LIFE.ETC)

R12.5 Net
-rent R1000
-food R700
-loan R2300
-donations To Friends(missionaries) R500.

3g + Petrol + Car Is Covered By Company.. I Just Send Them The Bill

The Rest Saved

Age 23(first Job)

[alf101]

R17.5 Pre-tax
Company Deductions R5k(MED AID,TAX, PENS. GROUP LIFE.ETC)

R12.5 Net
-rent R1000
-food R700
-loan R2300
-donations To Friends(missionaries) R500.

3g + Petrol + Car Is Covered By Company.. I Just Send Them The Bill

The Rest Saved

Age 23(first Job)

Do u eat at your parent house, or the gf's?

[CharlesM]

I think people do not talk about it, because some people think if they disclose the salary, others wil either look down on them because of their small salary, or will think they have way too much money and is trying to show off.

The point with money is this: everything is relative - there will always be people who have more than you and there will always be people who are much worse off than you.

Ouch!

Don't you have medical aid, levies, domestic help, etc?

How do you manage?

[CharlesM]

R17.5 Pre-tax
Company Deductions R5k(MED AID,TAX, PENS. GROUP LIFE.ETC)

R12.5 Net
-rent R1000
-food R700
-loan R2300
-donations To Friends(missionaries) R500.

3g + Petrol + Car Is Covered By Company.. I Just Send Them The Bill

The Rest Saved

Age 23(first Job)

I'm curious to know why you rent for R10k pm? You could buy a very nice place if you spend that on a bond.

[alf101]

I'm curious to know why you rent for R10k pm? You could buy a very nice place if you spend that on a bond.

Rent is only 1k.

[CharlesM]

I think it's a great idea to discuss income and expenses on open forums.

In my opinion the idea that income/salaries are taboo to discuss, is rediculous. This might be the very reason so may people (not only younger people) don't have proper money management skills.

Why is it ok to talk about drugs, sex, crime, aids, Zimbabwe but not about money???

[sly]

Do u eat at your parent house, or the gf's?

gf, she loves cooking, she buys lots of food and makes more than me.

[xrapidx]

I think it's a great idea to discuss income and expenses on open forums.

In my opinion the idea that income/salaries are taboo to discuss, is rediculous. This might be the very reason so may people (not only younger people) don't have proper money management skills.

Why is it ok to talk about drugs, sex, crime, aids, Zimbabwe but not about money???



Good point. I guess some people are worried you'll see them in a different light when you know what they earn, the same can be said for when you know someone takes drugs, or beats his wife/girlfriend, or is an alcoholic... it changes your perception of that person....

[CharlesM]

Good point. I guess some people are worried you'll see them in a different light when you know what they earn, the same can be said for when you know someone takes drugs, or beats his wife/girlfriend, or is an alcoholic... it changes your perception of that person....

Very true.

At the end of the day, somebody earning around R10 000 to R15 000 is earning a good and very much above average salary. Those that cause the prices of things to go up so badly are the ones who should be ashamed and they must hide from people for fear of being put in a strange light.

I can just imagine how tough life must be for someone that earns like R4000pm or so... It must be living hell!

[xrapidx]

Very true.

At the end of the day, somebody earning around R10 000 to R15 000 is earning a good and very much above average salary. Those that cause the prices of things to go up so badly are the ones who should be ashamed and they must hide from people for fear of being put in a strange light.

I can just imagine how tough life must be for someone that earns like R4000pm or so... It must be living hell!

I think everyone feels the same though.... When I earned R4000/pm and a friend earned R12000/pm, I was amazed at how much money that was, and couldn't fathom how he was always broke by the end of the month, then when I earned what he earned, I felt like he did... even now, I get paid very well, but some months I just don't come out... there's always some expense that pops up.

As your income increases, so does your lifestyle and way of living.

[Johand]

I haven't really read through the entire thread, but I would assume most people won't disclose how much they earn.

I do suggest visiting http://www.itweb.co.za/surveys/salary/2007/ . This will give you a good indication of who earns what. And isn't prone to "I know a guy who knows a guy who once installed a swimming pool for a guy who is the gardener for a VB.NET programmer earning R1.2 mil/month and only works 2 days a week."

Frankly - I was surprised. Most people earn less than you'd think. And if you visit mybroadband.co.za you probably earn more than 75% of the people in the world.

It is just not worth stressing about money. If you don't have enough now, you will never have enough. You'd probably give most of it back to rich people anyway :-)

[CharlesM]

I haven't really read through the entire thread, but I would assume most people won't disclose how much they earn.

I do suggest visiting http://www.itweb.co.za/surveys/salary/2007/ . This will give you a good indication of who earns what. And isn't prone to "I know a guy who knows a guy who once installed a swimming pool for a guy who is the gardener for a VB.NET programmer earning R1.2 mil/a month and only works 2 days a week."

Frankly - I was surprised. Most people earn less than you'd think. And if you visit mybroadband.co.za you probably earn more than 75% of the people in the world.

I is just not worth stressing about money. If you don't have enough now, you will never have enough. You'd probably give most of it back to rich people anyway :-)

OMG! I think I'm leaving accounting and going into IT, lol...

[Sly21C]

Projected budget for next year January when I start work:

Rent: 4000-6000
Petrol: 1400-2000
Medical Aid: Dont know exacts
Food: 1000ish
Car Repayment: 1600
Insurance: No Idea
Entertainment: Expected to be non-existent
Savings: Expected to be non-existent for the short term
Expenses: Buying suits/shoes/start up furniture/appliances
Tax: ???
Flights to Durban once a month minimum: +-R700

Total salary: R15400 pre-tax
Age: 22

I would really like to know what you do for a living? I mean earning that kind of money immediately when you start work is must mean that your job is something else.

[TiredOfWaiting]

Damn, I used to think that I earned a very small salary, but after reading the posts on this thread I should really reconsider that position.

Gross salary: R20,000
Nett salary: R14,000

Transport (Car payment + insurance + fuel): R4,500
Accomodation: R3,800
Food: R2,000 - R3,000

Not much left after that, I'm afraid. Entertainment takes the rest of the money, so I'm pretty much broke way before the end of the month. :(

[Sly21C]

Damn, I used to think that I earned a very small salary, but after reading the posts on this thread I should really reconsider that position.

Gross salary: R20,000
Nett salary: R14,000

Transport (Car payment + insurance + fuel): R4,500
Accomodation: R3,800
Food: R2,000 - R3,000

Not much left after that, I'm afraid. Entertainment takes the rest of the money, so I'm pretty much broke way before the end of the month. :(

I earn R8 000 before tax, next month I am moving out of my parent's house to live on my own in a flat were I will be paying R2100 a month. Do you think that is too much money to pay for rent for a person earning only R8 000 a month. I know I have to make my own desition but I would really like to know what you think.

[TiredOfWaiting]

I earn R8 000 before tax, next month I am moving out of my parent's house to live on my own in a flat were I will be paying R2100 a month. Do you think that is too much money to pay for rent for a person earning only R8 000 a month. I know I have to make my own desition but I would really like to know what you think.

Does the R2100 include electricity? The water is usually included with the flat's levy, but the electricity is your own baby.

And in South Africa you can't go without insurance, so you'll have to add about R150-R200 a month for R50,000 household insurance.

All of those things add up, but believe me, it's definitely worth it. Moving out on mt own was the best decision I've ever made.

[Sly21C]

Does the R2100 include electricity? The water is usually included with the flat's levy, but the electricity is your own baby.

And in South Africa you can't go without insurance, so you'll have to add about R150-R200 a month for R50,000 household insurance.

All of those things add up, but believe me, it's definitely worth it. Moving out on mt own was the best decision I've ever made.

No it doesn't include electricity, it doesn't even include water levy, I think I'll end up paying R2100 for rent, R98 for water levy and maybe R150 for electricity which adds up to about R2350 a month in total and it's a bachelor flat.

I have the option of finding someone to live with in a two bedroom flat and end up paying about R1500 for rent alone, that's a saving of about R600 a month, but I really don't like living with other people, especially if i don't know that person, so that is why I'll live alone in a bachelor flat for a few months to see if the flat rent doesn't choke me. If it does "choke me" then I'll look at other alternatives.

But do you think other people who earn more or less the same salary I earn would pay R2000+ for a place to live?

[Bondizzo]

No it doesn't include electricity, it doesn't even include water levy, I think I'll end up paying R2100 for rent, R98 for water levy and maybe R150 for electricity which adds up to about R2350 a month in total and it's a bachelor flat.

I have the option of finding someone to live with in a two bedroom flat and end up paying about R1500 for rent alone, that's a saving of about R600 a month, but I really don't like living with other people, especially if i don't know that person, so that is why I'll live alone in a bachelor flat for a few months to see if the flat rent doesn't choke me. If it does "choke me" then I'll look at other alternatives.

But do you think other people who earn more or less the same salary I earn would pay R2000+ for a place to live?

I'm still living with my parents but luckily I stay in the Bachelors flat so I do have freedom. I think it would be worth it for the freedom you'll get but at the same time if you're going to be living it at the bare minimum just to survive each month then you might need to reconsider it. Add up all your other costs and check if you have atleast 10-15% savings each month for unexpected expenses

[alf101]

No it doesn't include electricity, it doesn't even include water levy, I think I'll end up paying R2100 for rent, R98 for water levy and maybe R150 for electricity which adds up to about R2350 a month in total and it's a bachelor flat.

I have the option of finding someone to live with in a two bedroom flat and end up paying about R1500 for rent alone, that's a saving of about R600 a month, but I really don't like living with other people, especially if i don't know that person, so that is why I'll live alone in a bachelor flat for a few months to see if the flat rent doesn't choke me. If it does "choke me" then I'll look at other alternatives.

But do you think other people who earn more or less the same salary I earn would pay R2000+ for a place to live?

I'd say u need about 10k saved up before u move out.
Then you won't have to phone up the parents for at least 6 months.

[Velenoso]

Expenses in South Africa

Property:

Bond 1 R 18,500-00
Bond 2 R 11-500-00
Bond 3 R 6,500-00
Bond 4 R 8,500-00
Bond 5 R 24,500-00
Bond 6 R 19,000-00
Bond 7 R 14,500-00

Total: R 103,000-00

General Expenses:

Groceries: R 2,500-00
Alcohol: R 2,500-00 (at home)
Cigarettes: R 750-00
Fuel: R 3,000-00
Insurance: R 1,400-00
Medical: Don't have any in South Africa
Cellphone: R 3,000-00
3G: R 349-00
Land line + Net R 3,500-00 (high since my office is now at home)
Clothing R 3,500-00 (self and girlfriend)
Dining out: R 8,000-00 (including my daily lunch)
Entertainment: R 5,000-00
Electronics: R 2,500-00 (incl. DVD's etc.)
Hobby (cars): R 5,000-00
Sundries: R 2,000-00

Cars are all paid off.

Total: R 42,999-00


Other Personal Monthly Investments

R 150,000-00 (Transport co. etc.)


Grand Total: R 295,999-00


I have around R 50,000-00 a month remaining after everything at the moment. This is set to increase substantialy next month when my transport and trading company opens officially.

This list excludes my expenses and investments in the USA, where I spend about six months of the year. If anyone is interested for comparative reasons, I can list those here as well.

[Sly21C]

Expenses in South Africa

Property:

Bond 1 R 18,500-00
Bond 2 R 11-500-00
Bond 3 R 6,500-00
Bond 4 R 8,500-00
Bond 5 R 24,500-00
Bond 6 R 19,000-00
Bond 7 R 14,500-00

Total: R 103,000-00

General Expenses:

Groceries: R 2,500-00
Alcohol: R 2,500-00 (at home)
Cigarettes: R 750-00
Fuel: R 3,000-00
Insurance: R 1,400-00
Medical: Don't have any in South Africa
Cellphone: R 3,000-00
3G: R 349-00
Land line + Net R 3,500-00 (high since my office is now at home)
Clothing R 3,500-00 (self and girlfriend)
Dining out: R 8,000-00 (including my daily lunch)
Entertainment: R 5,000-00
Electronics: R 2,500-00 (incl. DVD's etc.)
Hobby (cars): R 5,000-00
Sundries: R 2,000-00

Cars are all paid off.

Total: R 42,999-00


Other Personal Monthly Investments

R 150,000-00 (Transport co. etc.)


Grand Total: R 295,999-00


I have around R 50,000-00 a month remaining after everything at the moment. This is set to increase substantialy next month when my transport and trading company opens officially.

This list excludes my expenses and investments in the USA, where I spend about six months of the year. If anyone is interested for comparative reasons, I can list those here as well.

Wow! you must earn a hell of a lot of money, that's very good, i wonder how much you earn per month, how much if you don't mind me asking? Do you mind telling me your age? And what you do for a living in order for you to earn so much money?

[alf101]

Wow! you must earn a hell of a lot of money, that's very good, i wonder how much you earn per month, how much if you don't mind me asking? Do you mind telling me your age? And what you do for a living in order for you to earn so much money?

Think u can work it out

Grand Total: R 295,999-00

I have around R 50,000-00 a month remaining after everything at the moment.

[Velenoso]

@ Velenoso

http://www.nvnews.net/vbulletin/images/smilies/bsflag.gif

:p You wish

Sly21C, I am in property development. I do a little import export as well. I'm currently in the process of opening a transport/trading company.

[Sly21C]

:p You wish

Sly21C, I am in property development. I do a little import export as well. I'm currently in the process of opening a transport/trading company.

I must definitely get close to you hey, I can definitely learn a lot from you. Most people would envy you or worse hate you because of the amount of money you make, but I admire you for your succes. But I think it's very important for successful people like yourself to share information with other people who want to be successful, like how you started out with property development, what you have learned, etc.

[xrapidx]

Dunno if its true - but if it is... I'd work for 5 years, saving as much as possible, and retire... living off the interest.

[JK8]

Expenses in South Africa

Property:

Bond 1 R 18,500-00
Bond 2 R 11-500-00
Bond 3 R 6,500-00
Bond 4 R 8,500-00
Bond 5 R 24,500-00
Bond 6 R 19,000-00
Bond 7 R 14,500-00

Total: R 103,000-00

General Expenses:

Groceries: R 2,500-00
Alcohol: R 2,500-00 (at home)
Cigarettes: R 750-00
Fuel: R 3,000-00
Insurance: R 1,400-00
Medical: Don't have any in South Africa
Cellphone: R 3,000-00
3G: R 349-00
Land line + Net R 3,500-00 (high since my office is now at home)
Clothing R 3,500-00 (self and girlfriend)
Dining out: R 8,000-00 (including my daily lunch)
Entertainment: R 5,000-00
Electronics: R 2,500-00 (incl. DVD's etc.)
Hobby (cars): R 5,000-00
Sundries: R 2,000-00

Cars are all paid off.

Total: R 42,999-00


Other Personal Monthly Investments

R 150,000-00 (Transport co. etc.)


Grand Total: R 295,999-00


I have around R 50,000-00 a month remaining after everything at the moment. This is set to increase substantialy next month when my transport and trading company opens officially.

This list excludes my expenses and investments in the USA, where I spend about six months of the year. If anyone is interested for comparative reasons, I can list those here as well.

I always wondered how you rich guys spend all your money!!
Now I know!:)
Crap thing is I spend more than you on smokes!:(

[Bondizzo]

Dunno if its true - but if it is... I'd work for 5 years, saving as much as possible, and retire... living off the interest.

I don't know if 5 years is enough. With R1mil at 10% interest per annum, you'll be earning appx R8333.33 per month which is taxable under the normal rate, so you'll only net appx R7500 for doing nothing which isn't bad but it isn't enough either

[AutoX]

lol

[xrapidx]

I don't know if 5 years is enough. With R1mil at 10% interest per annum, you'll be earning appx R8333.33 per month which is taxable under the normal rate, so you'll only net appx R7500 for doing nothing which isn't bad but it isn't enough either

R300,000 x 12m = R3,600,000 x 5y = R18,000,000.... work out the interest on that pm.

Remember, he has R300,000/pm thats usable, according to his post, so if he didn't use it, but invested it for maturity in 5 years.

[Velenoso]

My plan is to work for another 10 years or so. I'm still young. It was a lot easier for me to get started here because I came over with a bit of cash from the US and had the good fortune of starting out young. I'm finishing up all my properties, want to sell them all by June. I have one large project that I'd like to start before year end (property) and concentrate on my new venture. I think my buying and selling of residential property in JHB is coming to an end. I'm not making as much as I used to. Time to try a few properties in Florida maybe...

Also, I don't exactly earn that amount monthly or every month. It varies. I generally get around 1 million every four months, etc. depending on what is happening with my properties.

[Bondizzo]

R300,000 x 12m = R3,600,000 x 5y = R18,000,000.... work out the interest on that pm.

Remember, he has R300,000/pm thats usable, according to his post, so if he didn't use it, but invested it for maturity in 5 years.

of course in that case, I was thinking you talking about the general ppl here who don't do over 200k per annum

[HavocXphere]

I don't know if 5 years is enough. With R1mil at 10% interest per annum, you'll be earning appx R8333.33 per month which is taxable under the normal rate, so you'll only net appx R7500 for doing nothing which isn't bad but it isn't enough either
Inflation.

I reckon one would need about 5 mil to live sustainably of interest.:( Anything less, one would eat into the capital portion slowing since the diff between interest and inflation is to small to sustain oneself.

[IzZzy]

I would really like to know what you do for a living? I mean earning that kind of money immediately when you start work is must mean that your job is something else.

Starting salary for Candidate Attorney.

As I've spoken with Velenoso before, my dream is what he does. I've read countless books on the subject. Had my game plan mapped out in matric. I do not have the luxury of family wealth so my only option to get into the business is through a profession that yields a high capital each month which I could use in turn to get started.

Whether it pans out is another story

[Bondizzo]

:p You wish

Sly21C, I am in property development. I do a little import export as well. I'm currently in the process of opening a transport/trading company.

Quick question, do you trade property under your own name or under a company ?

[dhez]

Yup... before going through a broker, I was quoted between R1500 and R1750 for the S2000, this from the Dial Directs, A&G, Budget, etc. 'cheap' companies... now I pay R700.

i went through FNB insurnce brokers i was 23 when i bought my car it was a bmw 130i!! everyone quoted me around R2500/month i went to firstlink thats what it was called then and because I was a graduate i was given a reduced premium; they have a special portfolio for grads and im paying R700/month

[Velenoso]

Quick question, do you trade property under your own name or under a company ?

Both, it depends what suits tax and other purposes best.


IzZzy, I still plan on typing you a nice lengthy PM. I've just been hectic. Give me a couple days. ;)

[Bondizzo]

Both, it depends what suits tax and other purposes best.


IzZzy, I still plan on typing you a nice lengthy PM. I've just been hectic. Give me a couple days. ;)

Okay cool, since I still stay with my parents I'm thinking I should look into getting property under 500k and stick it out for a bit, instead of putting it all into a savings account

[IzZzy]

IzZzy, I still plan on typing you a nice lengthy PM. I've just been hectic. Give me a couple days. ;)

Awesome, I was to shy to ask if you received my pm - nothing worse than being viewed as prudent and impatient. If the pm will help me, as I'm 100% sure it will, then take all the time you need :)

PS: Any offer to help with accommodation for two weeks in June? (I know I'm pushing my luck here :) )

[xrapidx]

I was to shy to ask

O/T: Never be afraid to ask - EVER!

[Picard]

O/T: Never be afraid to ask - EVER!

The above is a strong statement. But know that with significant questions comes many qualifications. Asking is never ... just asking.

Beggars also ask alot. But their success ratio next to nothing.

[IzZzy]

O/T: Never be afraid to ask - EVER!

Indeed, I did initially ask but did not want to be a rash. If a person's doing you a huge favour then as far as I'm concerned, they can take all the time they want.

[Velenoso]

IzZzy, funny that you mention accommodation. My new project is a 74 room hotel in the Cresta/Randburg area, but I am only starting construction in June, so it will only be ready third quarter of 2009... Unfortunately, all my properties are either occupied or under construction at the moment but some should be done by June though... What kind of accommodation are you looking for? You coming up to JNB? You should stay permanently. ;)

One thing I don't mind is sharing information. If what I know can benefit someone else in some way, I'm happy to help. Just the same as you guys help me. That's what a forum should be about, no? :)

[Picard]

One thing I don't mind is sharing information. If what I know can benefit someone else in some way, I'm happy to help. Just the same as you guys help me. That's what a forum should be about, no? :)

Great!!! first question if you don't mind. How does your support structure look. Legal staff, secretarial, partners ... in a venture such as land developement?
What does one need to engage in something like property developement. Becuase property developement in SA is only just someway along its route. It still has a long way to go and has many more oppertunities waiting.

...Not that I'll ever go into property developement ... but it's still good to know.

[IzZzy]

IzZzy, funny that you mention accommodation. My new project is a 74 room hotel in the Cresta/Randburg area, but I am only starting construction in June, so it will only be ready third quarter of 2009... Unfortunately, all my properties are either occupied or under construction at the moment but some should be done by June though... What kind of accommodation are you looking for? You coming up to JNB? You should stay permanently. ;)

One thing I don't mind is sharing information. If what I know can benefit someone else in some way, I'm happy to help. Just the same as you guys help me. That's what a forum should be about, no? :)

Pm sent!

[Velenoso]

Tell you guys what... I'm going to create a new thread on property development so we can discuss it there to avoid persecution from forum moderators for discussing this in the wrong thread... :rolleyes:

[HavocXphere]

Tell you guys what... I'm going to create a new thread on property development so we can discuss it there to avoid persecution from forum moderators for discussing this in the wrong thread... :rolleyes:
Sounds good. Fire away.:)

[Syndyre]

Tell you guys what... I'm going to create a new thread on property development so we can discuss it there to avoid persecution from forum moderators for discussing this in the wrong thread... :rolleyes:

Sounds interesting.

[CharlesM]

Plz let us know when the new thread is running...

Post the link here perhaps?

[Velenoso]

Ok, for those that were interested. http://mybroadband.co.za/vb/showthread.php?p=1672843#post1672843

[xrapidx]

Beggars also ask alot. But their success ratio next to nothing.

but if they didn't ask their success rate would be zero...and not close to zero :-)

I.e. rather learn a little than nothing at all...

[IzZzy]

Ok, for those that were interested. http://mybroadband.co.za/vb/showthread.php?p=1672843#post1672843

Any reason why this thread was removed? I know it contained the details of my pm but if the mod who removed it read the thread, it was clear I did not object to it. The content of the pm was merely general questions.

I fail to see the reason why such an intrinsically helpful thread would be removed. Surely it was clear that I tacitly approved of it seeing that I posted "awesome thread".

[xrapidx]

Any reason why this thread was removed? I know it contained the details of my pm but if the mod who removed it read the thread, it was clear I did not object to it. The content of the pm was merely general questions.

I fail to see the reason why such an intrinsically helpful thread would be removed. Surely it was clear that I tacitly approved of it seeing that I posted "awesome thread".

MODS???????

[HavocXphere]

MODS???????
+1

I just managed to read it and then when I checked back for an update....:confused::(

[Velenoso]

I got a PM about the PM rule being broken... :p

ic kindly offered to reinstate the thread provided there are no references to anyone's PM. So I guess when it's back on, if everyone could just re-ask any of the questions which will be deleted that would be great. ;)

This happens after I decide to create a new thread in order to prevent this one from being derailed! :rolleyes:

[IzZzy]

I just posted this:

http://mybroadband.co.za/vb/showthread.php?p=1673329#post1673329



I got a PM about the PM rule being broken... :p


Lol! That in itself is a breach of the pm rule!

[Fern9do]

Its sad reading this thread,im earning peanuts:(
R6500
Expenses
Cellphone-R250
Study Loan-R550
Food-R400
Magazines/Books-R300
Savings-R1500
Entertainment-R200(No gf)

Thats all i can think of bt i usually dont have any money left at the end of the month.

[Sly21C]

Its sad reading this thread,im earning peanuts:(
R6500
Expenses
Cellphone-R250
Study Loan-R550
Food-R400
Magazines/Books-R300
Savings-R1500
Entertainment-R200(No gf)

Thats all i can think of bt i usually dont have any money left at the end of the month.

There's a guy who said he earned about R10500 a month and he also said he saves nothing each month, at least you are saving R1500, that's smart.

I'm thinking of dumping my girlfriend, she's becoming expensive to maintain and is starting to "eat" into the money i save each month.

[greggpb]

I date bolimic's, they usually skinny and the food cost is small.

[Aqua_lung]

I earn between R4000-R20000 a month (self employed and depends on how much clients I have per month)

Spend most of it and save 10% when possible

[TiredOfWaiting]

I date bolimic's, they usually skinny and the food cost is small.

Bulimics throw up, you're thinking of anorexic people. :D

Bulimics are the most expensive food-wise... you fill them up and then they just empty themselves minutes later. It's a vicious circle! :p

[greggpb]

Bulimics throw up, you're thinking of anorexic people. :D

Bulimics are the most expensive food-wise... you fill them up and then they just empty themselves minutes later. It's a vicious circle! :p

Ahh thanks.. *dumps GF and revises budget*

[Killove]

If i didnt have a gf id probably be a lot more liquid.
We eat out once or twice a week, at an average of R400 a meal..
800 per week x 4 = too much :(

Went to the damn Butcher Shop the other day for a lunch. 2 Steaks, a salad, a coke and a glass of wine = R550

[Sly21C]

I earn between R4000-R20000 a month (self employed and depends on how much clients I have per month)

Spend most of it and save 10% when possible

wow, so what do you do?

[Aqua_lung]

wow, so what do you do?

I'm a designer... I do illustration, Corporate Identity, e.t.c.

Lately its not been so good, averaging R5000 I was lucky the end of last year and made under R30000 one month and R20000 the next, after that its been slow :(

[Dolby]

O/T: Never be afraid to ask - EVER!

Why?

[xrapidx]

Why?

Cause thats how you learn. If I didn' ask I would be who I am now, and wouldn't earn what I earn now... most people are to scared to ask because they think it makes them look dumb.

[DarKWateR]

hmmm

Income = R0 - Unemployed :(

Current Debt = R78000+

I'm so fooked :eek:

[Toitjie]

hmmm

Income = R0 - Unemployed :(

Current Debt = R78000+

I'm so fooked :eek:

y so much? :eek:

[Aqua_lung]

hmmm

Income = R0 - Unemployed :(

Current Debt = R78000+

I'm so fooked :eek:

Are you serious? I thought I had money problems, guess it's not so bad now.

[DarKWateR]

y so much? :eek:


Are you serious? I thought I had money problems, guess it's not so bad now.

Dipolar depression + other unforeseen circumstances.

[Aqua_lung]

Dipolar depression + other unforeseen circumstances.

:(

Who do you owe, the Bank?

Do you have Graphic or programming skills?
If you do you should try freelancing on the net, work from home like I do.

[DarKWateR]

:(

Who do you owe, the Bank?

Do you have Graphic or programming skills?
If you do you should try freelancing on the net, work from home like I do.

Absa Loan
Absa Credit Card x 2
MTN Gold Credit Card
MTN Titanium Credit Card
Virgin Credit Card
RCS
BlueBean Credit Card
Direct Axiz
Cell C - MTN
Stikland Hospital

[Aqua_lung]

Absa Loan
Absa Credit Card x 2
MTN Gold Credit Card
MTN Titanium Credit Card
Virgin Credit Card
RCS
BlueBean Credit Card
Direct Axiz
Cell C - MTN
Stikland Hospital

YOU ARE ******! :D

I stay away from credit cards mate, nice to have until you can't keep it up. :(

[DarKWateR]

YOU ARE ******! :D

I stay away from credit cards mate, nice to have until you can't keep it up. :(

I did not have a choice...you don't want to know :(:(:(

[xrapidx]

So what do you do...before being unemployed.

[DarKWateR]

So what do you do...before being unemployed.

Usual IT crap aka desktop support, sales, troubleshooting, assembly, insurance reports blah blah...but since I was hospitalized for more than a month I kinda lost my job (and due some other sad reasons too)

[Dolby]

What is diploar? :/

See bwana ... someone with more credit cards than me ;)

[Sly21C]

I can't believe some of you guys have so many credit cards, wow!!! .....:eek:

[Dolby]

I got 4 ...

Discovery, FNB, ABSA and Vodacom. My FNB is the only one I really use as my credit card. I used the budget on both the ABSA and Discovery when I was unemployed and to help the girlfriend. The Vodacom is clear.

So although I have 4, I don't use as much as people may think

[skig]

Its sad reading this thread,im earning peanuts:(
R6500
Expenses
Cellphone-R250
Study Loan-R550
Food-R400
Magazines/Books-R300
Savings-R1500
Entertainment-R200(No gf)

Thats all i can think of bt i usually dont have any money left at the end of the month.

Goodness me! What do you eat for R400p/m? I probably spend nearly triple that, and I get nice canteen food and only eat a small meal at night...

And R200 for entertainment? That's one meal out a month and *poof*, it's gone!

Also, why do so little people actually have rent/bond payments on their expenses? That alone chows about 30% of my monthly salary!

[skig]

Projected budget for next year January when I start work:

Rent: 4000-6000
Petrol: 1400-2000
Medical Aid: Dont know exacts
Food: 1000ish
Car Repayment: 1600
Insurance: No Idea
Entertainment: Expected to be non-existent
Savings: Expected to be non-existent for the short term
Expenses: Buying suits/shoes/start up furniture/appliances
Tax: ???
Flights to Durban once a month minimum: +-R700

Total salary: R15400 pre-tax
Age: 22

I would really like to know what you do for a living? I mean earning that kind of money immediately when you start work is must mean that your job is something else.

Graduates (fresh from varsity) here at Accenture get paid about R16,5k gross (approx R13k nett) as a starting salary...

So, yes, I do know some 22-year olds who earn this kind of money....

[Fern9do]

Lol.what do i eat,hmm...my mom makes me 4 slices of bread every day so i only buy fast food on fridays and saturdays:)
entertainment for me is going to the movies once or twice a month.dont have a car or a girlfriend and im saving R1500 a month + another R800 pm(PS3 Money) so im in survival mode..+ im earning peanuts.

[skig]

Lol.what do i eat,hmm...my mom makes me 4 slices of bread every day so i only buy fast food on fridays and saturdays:)
entertainment for me is going to the movies once or twice a month.dont have a car or a girlfriend and im saving R1500 a month + another R800 pm(PS3 Money) so im in survival mode..+ im earning peanuts.

ah, ok... so you stay with your parents and they buy groceries... lucky bastard ;)

I've always wondered - how the hell does a police constable, earning R4000 (for DANGEROUS work), survive and feed a family, etc? I mean, that's less than my monthly rent!
No wonder they take the bribes...

[efitol]

i drink and party too much, thats where 80%-odd of my income goes. but then again i just turned 23 so i'm allowed to make this mistake... i'll rectify it when i'm 25-27. u only live once ;) like doobi said

[alf101]

First u buy what u need, then u buy what u want.

All u need to know about managing your money.

[Sly21C]

I know this is a very private question and I apologise for it, but I would realLy like to know how much people in South Africa earn per month, and how they spend it.

I am 23 years old and I earn R8 000 a month before tax, I spend my money on:
Transport (taxi and bus) - R1 500
Groceries (Food and toiletry) - R1 100
Entertainment (Movies, Cd's purchases, clubbing) - R 500
Clothes - R 300
Loan repayments (Furniture, student loan) - R 1500
and I save about R 1200 a month

I don't have a car, house (I stay with my parents), internet access at home nor medical aid because I can't afford them.

Well, things have changed a little, I still earn R8000 a month (gross), but I know live in a place of my own and I no longer live with my parents. I spend my money on:
Rent (I stay in a flat, including water) - R2200
Transport (Bus and taxi) - R500
Groceries (Food and toiletries) - R1 100
Entertainment (Movies) - R300
Clothes - R300
Airtime - R300
I spend about R1000 paying for my education and studies
And I save the rest

[Lord Anubis]

http://mybroadband.co.za/vb/showpost.php?p=1885031&postcount=75

I prolly take home about R120k. I use about R60K on debts, car house etal.

Then I spend about R50K on whores and weed and fun. Use about R10K dabbling/gambling buying stock

[dlk001]

Well, things have changed a little, I still earn R8000 a month (gross), but I know live in a place of my own and I no longer live with my parents. I spend my money on:
Rent (I stay in a flat, including water) - R2200
Transport (Bus and taxi) - R500
Groceries (Food and toiletries) - R1 100
Entertainment (Movies) - R300
Clothes - R300
Airtime - R300
I spend about R1000 paying for my education and studies
And I save the rest

after Deductions for Tax, Pension Fund, Medical Aid, Income Protection, Disability

My biggest monthly costs excl savings are

Car, R6000
Insurance, R1000
Petrol, R1950
Bond, R3100
Levies, R500
Water, Electricity, R200
Retirement, R2000
Internet, R650 (Telkom Do3)
Groceries, R800
Cell Phone, R550
DSTV, R678
Booze, R1000
Clothes, R800

[Keeper]

Bond - ~R5500

I almost read "blonde" :D

[Pixie22]

Im 25

Got an increase this month.

I believe I'm getting just over 11 before tax, medaid etc.

I net a little over 8k

-2850 rent/elec/water
=R5150

-R600 transport (petrol)
No car payments for me, just those unbelievably expensive services ^_^
Live close to work, so I can walk if need be.

=R4550

-2000 monthly expenses like food, cell, entertainment. I don't go out much. Rent alot of DVD's and sometimes buy games too.

=R2550 (this number has gone up this month)

This I will try to save, but there is always something that needs paying.
I sometimes send cash to the parentals.

I generally splash the cash on clothes once a year with my 13th if I don't need to pay anything else off at the time ^_^

Oh, and R50 pm to poor pplz

[JK8]

http://mybroadband.co.za/vb/showpost.php?p=1885031&postcount=75

I prolly take home about R120k. I use about R60K on debts, car house etal.

Then I spend about R50K on whores and weed and fun. Use about R10K dabbling/gambling buying stock

Wow! I want that!:)

[Keeper]

Wow! I want that!:)

he's lying....he was begging some other MyBB Users for R5 (http://mybroadband.co.za/vb/showthread.php?t=127352)

[alf101]

I almost read "blonde" :D

Nope, that's BTech

[DJ...]

ROFL, I know what Risk Managers earn, and their gross is nowhere near R2.2m per annum. BTech, this isnt a contest...

[Keeper]

isn't that what that guy did in along came polly? cause his wife left him for a scuba diver!

[ebie]

I know this is a very private question and I apologise for it, but I would realLy like to know how much people in South Africa earn per month, and how they spend it.

I am 23 years old and I earn R8 000 a month before tax, I spend my money on:
Transport (taxi and bus) - R1 500
Groceries (Food and toiletry) - R1 100
Entertainment (Movies, Cd's purchases, clubbing) - R 500
Clothes - R 300
Loan repayments (Furniture, student loan) - R 1500
and I save about R 1200 a month

I don't have a car, house (I stay with my parents), internet access at home nor medical aid because I can't afford them.

Why don't you use the "savings" to speed up the loan repayments ?

[DarkDenim]

I don't save a cent; Instead, I pay more into my home and car loans.

[waynegohl]

i earn almost R6500 a month and give it all to my personal banker, my wife.

[DJ...]

I don't save a cent; Instead, I pay more into my home and car loans.

The interest component on a bond for instance is tax deductible so you can reduce your tax by taking on more debt, whilst increasing your capital as well. Once the interest is paid off I take out a new bond for a new property using my previous one as collateral and pay the interest component off as well and start the cycle again. I reduce my tax, increase my capital but have more debt. I rent out the properties to pay off the majority of the capital repayments, this is necessary.

Once can make a lot of money this way, even during a downturn in the property market.

[dablakmark8]

if i was not so lazy i summarize:) about 200 000 a year..

[dablakmark8]

I earn between R4000-R20000 a month (self employed and depends on how much clients I have per month)

Spend most of it and save 10% when possible

same here,but i also have a day job which really is peanuts,but my business helps me out with my bills where it can,Also i dont have a car and bike no more,even if i wanted it back i cant drive anymore or ride a bike:(
Due to shoulder rotatorcuff injury i am disabled for now:(

[Wurschtler]

HOW MUCH is your difference between gross and net?

I'm paying ~50% of my income for taxes. :(
And my income is even lower than the average.

[Lord Anubis]

DJ WTH! You calling me out for a dance off! You better kick off those higheels first boet!

[alf101]

What is your difference between gross and net?

I'm paying ~50% of my income for taxes. :(
And my income is even lower than the average.

Net is what gets paid into your bank account. Gross is before u get whacked.

[Wurschtler]

Net is what gets paid into your bank account. Gross is before u get whacked.


http://clydeweb.de/thx4info.gif


:rolleyes: :D

[Lord Anubis]

Tax! Thats why i have 3 jobs!

[DJ...]

DJ WTH! You calling me out for a dance off! You better kick off those higheels first boet!

You claim to earn a salary of more than many CEOs - as a risk manager - not even a senior manager. ROFL :D Not even sure if I believe that you are a risk manager. Explain to me how you would manage liquidity risk within your business or how your treasury manages its exposure to inflationary pressures and their resultant affect (if any) on your forex hedging. Or how about an easy one, credit risk (which may or may not be linked to those inflationary pressures)

[iDenTiTy]

http://clydeweb.de/thx4info.gif


:rolleyes: :D


Your tax is high...

Probably because the state looks after it's citizens...

[DJ...]

Google wont help you on this one BTech. Come on, lets hear some strategies. Especially considering all the valuable information you have contributed to the numerous financial threads. Oh, wait - no you havent...

[DJ...]

Considering your position, why not involve yourself more in threads relating to inflation, exchange rates, investment instruments etc. If you were a risk manager you would be able to provide valuable insight into strategies to hedging against market predictions and unlocking value in these areas for investors. Come on, lets hear it...

[alf101]

Considering your position, why not involve yourself more in threads relating to inflation, exchange rates, investment instruments etc. If you were a risk manager you would be able to provide valuable insight into strategies to hedging against market predictions and unlocking value in these areas for investors. Come on, lets hear it...

U picking on people again?

[DJ...]

Come on BTech. Dont be shy. Or is it just difficult trying to get hold of someone who knows anything about this considering google let you down?

I told you not to make this personal. I was prepared to put up with your disgusting posts and occasional lie with a little bit of banter from my side. Not any more though...

[DJ...]

U picking on people again?

Just trying to catch him out in another lie. Did you honestly buy his "I make R2.2m a year" rubbish? And when I questioned him, he went and posted some other rubbish about me in a different thread. So now I want to hear from his perspective...

That and I cant stand another "I need to use my fleshlight more often cause the warts on my hands are growing back" post outside of TK...

[DJ...]

But if BTech is being honest, then I apologise and would love that he involves himself in more of the financial threads - simple...

[alf101]

Just trying to catch him out in another lie. Did you honestly buy his "I make R2.2m a year" rubbish? And when I questioned him, he went and posted some other rubbish about me in a different thread. So now I want to hear from his perspective...

That and I cant stand another "I need to use my fleshlight more often cause the warts on my hands are growing back" post outside of TK...

U've been here long enough to know how to handle that sort of thing.:)
It don't matter.

[DJ...]

U've been here long enough to know how to handle that sort of thing.:)
It don't matter.

Having a bad day today - gramps passed away - so I am particularly vengeful, I might feel differently tomorrow)

[alf101]

Having a bad day today - gramps passed away - so I am particularly vengeful, I might feel differently tomorrow)

My 2nd 5000 post goes to u and your gramps.
My condolences.:(
Lost mine back in the 80's, think I can still remember everthing he ever said to me.

Broke up wih my ex gf for the 5th time in 3 years today.
Not a bad day,

[DJ...]

My 2nd 5000 post goes to u and your gramps.
My condolences.:(
Lost mine back in the 80's, think I can still remember everthing he ever said to me.

Broke up wih my ex gf for the 5th time in 3 years today.
Not a bad day,

Thanks, much appreciated. Sorry to hear about the gf. But it doesnt sound like you are too bent out of shape about it. My ex and I broke up 3 times in a little over 4 years before I called it quits for good...

[alf101]

Thanks, much appreciated. Sorry to hear about the gf. But it doesnt sound like you are too bent out of shape about it. My ex and I broke up 3 times in a little over 4 years before I called it quits for good...

3rd time that its for good on my side.

[Sly21C]

i earn almost R6500 a month and give it all to my personal banker, my wife.

i'm curious, how old are you?

[AutoX]

I agree with the DJ

[Lord Anubis]

DJ c'mon you are acting like my nemisis. For one I partifipate in MYBB for its entertainment value. I get a hoot from looking at how people react to some of my more contraversial posts. I think its halirious to see people squable about nonsense. Some times its really more fun to dumb it down a bit and ask silly questions or make idiotic outbursts to see the reaction. Sometimes I go overboard and yep have iven incurred a few infractions in my time and had a number of posts deleted. Do I earn that amount of cash, well off course. Do I sit on a board, yep. Do I have few degrees racked, hell yeah. Do I work as Risk Manager, yes and more. Do I deem it necessary to give advice on the financial threads, no, it seems you guys are doing just fine all by yourselves. Do I need to defend myself, no and I don't care too.

The last think that I want to do during my day when I take a few moments out of my schedule to relax is to pour over financials and talk about it on other forums. I started off working in financials after army in the mid 80's and 25 years later, I like nothing more than to get away from it whenever I can. Unfortunately I have to work and therefore have to scroll reports all day. Fortunately I am in the position to have a whole army of youn CA's do it for me, allowing me the time to come here and have a few laughs. You may actually from time to time see me post on FIN24. I usually also go there by the name BTech. Oh yeah, and while were on the subject you may wonder about why BTech. The real reason is that it somehow conveys an image of a Risk Manager at a Lonely Free State Kooperasie not a JHB RM/MBA/CFA. I think that also loads people a little when I comment on something. Lastly yes, I live in Bryanston, have a second home on the Vaal, enjoy the odd stoogie and ho and of course have no problem gambling away a pack of loot so please, go ahead and debate this post for the next few hours. I'll check in, in a while.

[DJ...]

Not an iota of proof again, nor a single answer to any of my questions. Just more unsubstantiated, bold statements. But it doesnt bother me anymore. Just stop your personal nonsense talk in the other threads about me which make absolutely no sense, okay?

And I re-iterate: If you really are who you say you are, then your contributions to some of the financial threads would be greatly appreciated.

[Pitbull]

Not an iota of proof again, nor a single answer to any of my questions. Just more unsubstantiated, bold statements. But it doesnt bother me anymore. Just stop your personal nonsense talk in the other threads about me which make absolutely no sense, okay?

And I re-iterate: If you really are who you say you are, then your contributions to some of the financial threads would be greatly appreciated.

I only earn R 20 a month .... must i prove it to you too :rolleyes:

[DJ...]

I only earn R 20 a month .... must i prove it to you too :rolleyes:

If you read my first post, I am not asking for proof of income. I am asking that he at least try to convince me that he is a risk manager as in all the time he has been on the forums, there hasnt been even an indication of this. More than just that, a risk manager in some of the largest multinationals in SA doesnt earn what he does, and there is no way that a risk manager could hold down numerous other positions - there is just no time for it. His posts smell like bull, every single time. And the BOD claim is quite funny too. Since when do risk managers sit on boards? Executive or non-executive?

Anyways, I am not bothered. I only had a dig at him here due to him posting rubbish about me on other threads that frankly made absolutely no sense. If he stops, so will I. But his behaviour and online mannerisms are not that of someone who sits on a board. That is for sure...

[Lord Anubis]

Ok DJ you just went from very ineresting to very boring in like 5 seconds.I've been on this board (pun intended) since 2005 and I must say you are the first DJ that has made me laugh so much.You do know I was only pulling your leg in like 99,9% of the posts, and its ok if you don't want friendship. Just don't be so miserable. Did I tell you that I am also medically Licenced. The reason I bring it up is because I thinking you may be pre-op and its just the hormones speaking......hehehe

[Sly21C]

Lets see, Im 22 years old.

Gross salary: R10700-00
After tax, medical aid, retirement plan etc: R7950-00

Car: R1925-00
Insurance on car: R975-00
Boarding fee: R2000-00
Martial arts: R120-00
Cellphone: R300-00 (In the region of)
Internet: R300-00 (In the region of, my portion of shared cost)

That leaves me with roughly: R2200-00

Petrol + food + entertainment + bank charges etc.. eats R2200-00 pretty quick during a month.

So thus far I am saving nothing. I have been meaning to try work a better budget and save a bit more somehow :/

Have you been successfull at saving a bit more...?

[Natasha H]

Gross salary: R20,000
Nett salary: R14,000

(

That is quite scary tax wise.. Tired of Waiting earns R8K more than me, yet grosses only R3200 more?

[kingmonty]

Me:

I get out just ovr 23k a month. Expenses: ~14k a month.

[kingmonty]

That is quite scary tax wise.. Tired of Waiting earns R8K more than me, yet grosses only R3200 more?
Maybe he has bigger contributions towards Provident, etc..

[Natasha H]

Maybe he has bigger contributions towards Provident, etc..

hopefully.. im wanting for a bit of a boost in salary so hoping it doesnt jump me into another tax bracket percentage.

[UnoPanelvan]

If you read my first post, I am not asking for proof of income. I am asking that he at least try to convince me that he is a risk manager as in all the time he has been on the forums, there hasnt been even an indication of this. More than just that, a risk manager in some of the largest multinationals in SA doesnt earn what he does, and there is no way that a risk manager could hold down numerous other positions - there is just no time for it. His posts smell like bull, every single time. And the BOD claim is quite funny too. Since when do risk managers sit on boards? Executive or non-executive?

Anyways, I am not bothered. I only had a dig at him here due to him posting rubbish about me on other threads that frankly made absolutely no sense. If he stops, so will I. But his behaviour and online mannerisms are not that of someone who sits on a board. That is for sure...

Oh mY, pLEASE DO NOT WET A PANTY! :D

[UnoPanelvan]

Not an iota of proof again, nor a single answer to any of my questions. Just more unsubstantiated, bold statements. But it doesnt bother me anymore. Just stop your personal nonsense talk in the other threads about me which make absolutely no sense, okay?

And I re-iterate: If you really are who you say you are, then your contributions to some of the financial threads would be greatly appreciated.

No wonder people spammed you to enforce a name change. Not that it helped, You can change the exterior extreme but a leopard cannot change it spots as much as a snake cannot change his cunning-ness or a jackall ......... never mind.

[Crabby]

That is quite scary tax wise..

Tax is a biatch mine went up to R11.5k with my last raise.

[Krypto]

Show offs, I don't make it enough money. :p

[DJ...]

Oh mY, pLEASE DO NOT WET A PANTY! :D


No wonder people spammed you to enforce a name change. Not that it helped, You can change the exterior extreme but a leopard cannot change it spots as much as a snake cannot change his cunning-ness or a jackall ......... never mind.

Dont you have an ANC coup to go plan?

Can you refute or backup the claims? In any case, it makes little difference because BTech an I sorted it out between ourselves a while back already. But really Uno/NoAdslYet/Pupa, dont enter a financial thread, quote me and start a downward embarrassment cycle for yourself...

[furnic]

Income, not sure, haven't had a job for like 12 years, too white and now probably too old, but sigh, just totaled up roughly monthly expenses:

Bond R3000 (yeh, its low, I purchased b4 the mad price hike)
school fees R1000
Varsity fees R3000
Telkom R700
Cellphone 1 R350
Cellphone 2 R300
water and rates R1200
electricity R800
DSTV R500
Life Insurance R800
Tracker R460
Gym R230
Car and house insurance, R1100
Hospital plan R1000
Part time help/Domestic R1000
petrol R3500 (2 cars)


total R18940

Then food is about R1300 a week, so that’s R5200

total expenses R24140

probably forgotten one or two small thingies like Edgars etc so total is about 26K, no wonder I is always so broke

[dablakmark8]

tracker R460...*mumbles*you should get a better deal somewhere else.

[supersunbird]

I love using the budget spreadsheet from mydebt.co.za, makes my life so easy:

Bond: R6128
Levy: R764
2 Cellphone accounts: R335
Telkom for ADSL and 2 GB: R382
Bantam: R2382
Insurance (2 cars & household insurance): R718
Netstar (2 cars): R196

Total: R10905

The other few thousand is for variables like food and fuel en entertainment.

[Picard]

I'm screwed on a monthly basis. And I don't mean the sexual kind. ... If only :(

[furnic]

tracker R460...*mumbles*you should get a better deal somewhere else.

2 cars...should it be less?

[dablakmark8]

I just about survive every month.I am lucky if i can save 2000 rand in my savings account.

[dablakmark8]

2 cars...should it be less?

WHich tracking com[any is it:)

[supersunbird]

2 cars...should it be less?

Depends on if it just normal after theft tracking or early warning type thing...

[Zwieback]

Bond 23,000
Car Payment 6,400
Maid 3,700
Gardener 600
Telkom, ADSL, Vodacom 1,200
DSTV 600
Armed Response 300
School Fees 2,400
Medical Aid 1,600
Car Insurance 700
House Insurance 700
Life Insurance 2,500
Bank Fees 200
Credit Card Interest 3,500
Food 8,000
Child Extra Murals 1,000
Health/Hair/Gym 2,000
Rates, Water, Electricity 2,000
Entertainment, Clothing, Misc 4,000
Travel 4,000
Savings 4,000 (Hmmm, not enough I know)

I am 42, own my own small magazine publishing business - one trade magazine, one partner, one additional staff member.

[Chris_H]

Bond 23,000
Car Payment 6,400
Maid 3,700
Gardener 600
Telkom, ADSL, Vodacom 1,200
DSTV 600
Armed Response 300
School Fees 2,400
Medical Aid 1,600
Car Insurance 700
House Insurance 700
Life Insurance 2,500
Bank Fees 200
Credit Card Interest 3,500
Food 8,000
Child Extra Murals 1,000
Health/Hair/Gym 2,000
Rates, Water, Electricity 2,000
Entertainment, Clothing, Misc 4,000
Travel 4,000
Savings 4,000 (Hmmm, not enough I know)

I am 42, own my own small magazine publishing business - one trade magazine, one partner, one additional staff member.

:eek: how are you only paying R700 on a car with a repay value of 6400? I'm 27, paying 4500/m on my car and my insurance is R900!?

[alf101]

:eek: how are you only paying R700 on a car with a repay value of 6400? I'm 27, paying 4500/m on my car and my insurance is R900!?

I'm paying R570 a month.
Paid R198000 cash for my car.

[Chris_H]

I'm paying R570 a month.
Paid R198000 cash for my car.

Then I must be getting ripped... never had a large claim and no claims in the last 5 years. I bought my car for R230k... what gets me though is that my settlement is R130k. I have been paying the same value for insurance from day one and I phone every year to check if they can't lower it :(

[alf101]

Then I must be getting ripped... never had a large claim and no claims in the last 5 years. I bought my car for R230k... what gets me though is that my settlement is R130k. I have been paying the same value for insurance from day one and I phone every year to check if they can't lower it :(

Best to phone around

[Zwieback]

That car insurance includes Tracker, Car is nearly 5 years old. Cost R250,000 then and is currently insured for R170,000.

[Chris_H]

That car insurance includes Tracker, Car is nearly 5 years old. Cost R250,000 then and is currently insured for R170,000.

I installed a tracker and my insurance dropped with R7 :cool:

[AcidRaZor]

Then I must be getting ripped... never had a large claim and no claims in the last 5 years. I bought my car for R230k... what gets me though is that my settlement is R130k. I have been paying the same value for insurance from day one and I phone every year to check if they can't lower it :(

I phone the insurance company every year (usually before their annual price hike) and I ask for a discount. What I did last year was make my dad the primary driver (which he now is) and me the secondary. I still own the car and the insurance policy but knocked off R400 on the insurance because of my dad's age. They say they don't discriminate but they do ;)


Food 8,000

I assume you have a family of 12? Because WOA that's alot of money for food.

[AcidRaZor]

I installed a tracker and my insurance dropped with R7 :cool:

And your expenses increased by R250+ for the tracker ;)