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

S

Sly21C

Expert Member
Joined
Feb 14, 2008
Messages
4,632
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

Dolby

Honorary Master
Joined
Jan 31, 2005
Messages
26,957
50 views and no replies, eh?

Guess it's too private tbh ;)
 
M

Messugga

Honorary Master
Joined
Sep 4, 2007
Messages
10,378
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 ;)
 
blunomore

blunomore

Honorary Master
Joined
Jul 8, 2007
Messages
26,789
Messugga said:
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 ;)
Click to expand...

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

AntiThesis

Executive Member
Joined
Jul 30, 2005
Messages
5,314
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.
 
A

andres101

Expert Member
Joined
May 14, 2004
Messages
2,125
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%
 
P

Picard

Guest
AntiThesis said:
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.
Click to expand...
With 12 grand you're hardly poor.
 
D

Deenem

Expert Member
Joined
Apr 20, 2005
Messages
1,724
unit trusts are a better option.
Click to expand...
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.
 
B

Bondizzo

Expert Member
Joined
Jun 11, 2005
Messages
1,336
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.
 
Last edited:
S

Sly21C

Expert Member
Joined
Feb 14, 2008
Messages
4,632
AntiThesis said:
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.
Click to expand...
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

blunomore

Honorary Master
Joined
Jul 8, 2007
Messages
26,789
Deenem said:
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.
Click to expand...

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

Devill

Damned
Joined
Mar 25, 2008
Messages
26,781
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.
 
S

Sly21C

Expert Member
Joined
Feb 14, 2008
Messages
4,632
Dolby said:
50 views and no replies, eh?

Guess it's too private tbh ;)
Click to expand...
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.
 
You must log in or register to reply here.
Top