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

 

[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

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

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

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 , just upkeep 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.

 

[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.