22: Not sure what to do

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MidnightSociety

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Hey guys,

Thanks for the advice and insight.

I have redacted the post for now, as I think I have the info I need.
 
Last edited:
bwana said:
Get rid of the domestic and clean up after yourself.
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The domestic might be unhappy about that. Personally, I am happy to employ a domestic. She cleans so much better than me. It's not my skill-set.
 
Rule of thumb is the harder you work when you are young, the less you have to work when you are older. I would say hold of on the car for now, try to build a second income if possible. If you see that running a small business isn't for you then invest your money.
 
RedViking said:
How the hell do people get so much money. What the heck am I doing wrong. :crying:
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Always be unhappy with how much you are making and actively work to make more. Once you make more be disappointed in how much you are making and then work to make even more after that.
 
Splinter said:
The domestic might be unhappy about that. Personally, I am happy to employ a domestic. She cleans so much better than me. It's not my skill-set.
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The technology of today makes it easier and easier. I sucked at ironing, changing the temp and cleaning the burned on soleplate so I got a steam generating iron that does it all automatically and will never get sticky. That's just one example.
 
Invest a part of what you are left with and another part set aside to buy yourself a car or whatever else you desire. This way, you have everything covered and won't later live with any regrets.
 
I'd setup a couple of saving buckets, but I'd also speak to a financial planner/professional. Think about retirement now, the more you put away now the less you worry about this later on in life

1 - Money for when you actually want to retire (50,60 etc) - I'd say minimum of 15% of pre-tax earnings should go here. There are tax breaks here, financial planner can help. Make sure you understand the details of these tax breaks carefully, some can only be cashed at 55 or older (retirement) and then some can be cashed earlier and tax paid on it at the point it is cashed

2 - Money for that car you long for, whats the point of working hard if you don't enjoy your money. Buying cash is a good idea if you can save enough but large downpayment might be the way you balance this. New cars usually come with > insurance, so just consider that.

3 - Some money for big purchases that you will need in life, eg. a house downpayment - The rest of you money. Look at Tax free saving accounts here as well
 
Papa Smurf said:
:oops::oops::oops:
Rum & Snorting coke off a hookers ass is what i would invest in if i had that cash floating around after every month
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Wrong country to be doing that in IMO

namzsteve said:
Please give us an answer, how are you spending R500 on petrol per month?
As for R900 for electricity/water/domestic...
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I have no long distance commutes

Barbarian Conan said:
Change that to:

Bond: Rxxk

And then you can decide if you still want a car.
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I'm not prepared to buy property in this country

WesleyDB said:
Rule of thumb is the harder you work when you are young, the less you have to work when you are older. I would say hold of on the car for now, try to build a second income if possible. If you see that running a small business isn't for you then invest your money.
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Fair enough, all though I assume you have to stick to it for around 2 years?

Doris_L said:
Invest a part of what you are left with and another part set aside to buy yourself a car or whatever else you desire. This way, you have everything covered and won't later live with any regrets.
Click to expand...

phiber said:
I'd setup a couple of saving buckets, but I'd also speak to a financial planner/professional. Think about retirement now, the more you put away now the less you worry about this later on in life

1 - Money for when you actually want to retire (50,60 etc) - I'd say minimum of 15% of pre-tax earnings should go here. There are tax breaks here, financial planner can help. Make sure you understand the details of these tax breaks carefully, some can only be cashed at 55 or older (retirement) and then some can be cashed earlier and tax paid on it at the point it is cashed

2 - Money for that car you long for, whats the point of working hard if you don't enjoy your money. Buying cash is a good idea if you can save enough but large downpayment might be the way you balance this. New cars usually come with > insurance, so just consider that.
Doris_L said:
Invest a part of what you are left with and another part set aside to buy yourself a car or whatever else you desire. This way, you have everything covered and won't later live with any regrets.
Click to expand...


3 - Some money for big purchases that you will need in life, eg. a house downpayment - The rest of you money. Look at Tax free saving accounts here as well
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1. Wasn't there a whole uproar with retirement funds and the government?

2. I'm fine with waiting. I don't like spending money I don't have, unless it were on a bond.

3. I probably have +-3 years to build this. Hopefully by then i'll know where I want to live (In or outside of SA)
 
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