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

zulucat · Feb 28, 2020

Stokstert said:
In government?

Does every black person you know work for government - or is this some weird generalisation? We run a family business with mom - farming, trucking, feeds

Gaz{M} · Feb 28, 2020

themba990 said:
I’ve started watching Dave Ramsey after someone suggested his videos in a certain other thread about personal finances.
He shouts a lot but he made me realize walking around broke all the time is not the only option.
So I’m on debt reduction mission starting today. I have 400k odd in short term debt, mostly car, but a journey of a 1000 steps...

It was me

Yeah Dave is a real motivator.

Gaz{M} · Feb 28, 2020

crawler said:
One things for sure

More is never enough

Despite my income going up generously in the past 5 years, I really do not feel much better off. I guess the cost of things in SA just went up by as much. Plus taxes and self provisioning has become really expensive (security,schools etc.)

Gtx Gaming · Feb 28, 2020

Tman* said:
yasis, R160k CTC is borderline slave labour for a teacher. I salute your wife.

My wife was earning 72k as a teacher. I luckily managed to get to get a better job and she got retrenched and told her stay at home, could hardly find any jobs paying more.

Toxxyc · Feb 28, 2020

Yeah I earn almost double what I earned 5 years ago. I definitely don't live double though. We drive the same cars, eat significantly cheaper, don't spend nearly as much on other stuff like fast foods and hobbies, and our house rental only went up about 50%. Where's the money?

Not_original · Feb 28, 2020

Gtx Gaming said:
My wife was earning 72k as a teacher. I luckily managed to get to get a better job and she got retrenched and told her stay at home, could hardly find any jobs paying more.

Is that 72k ctc or pocketed salary

Gtx Gaming · Feb 28, 2020

gertvanjoe said:
Is that 72k ctc or pocketed salary

72k ctc, no benefits etc. Private school

Matt91 · Feb 28, 2020

Verrayne said:
Age: 32
Got an increase to take my gross from R63k to R100k from next month. So my investments will go up.

My car is paid off and my house as well. Think I'm doing all right but I squandered a lot of money in my 20's.

Net Worth currently sitting at R3.5 Million.

Fixed Expenses
-R 11 909,32
Short Term Insurance R 3 234,32
Gym Membership R 2 490,00
Life Insurance R 1 921,73
Pineapple Insurance R 537,77
Fibre R 998,00
Rates & Taxes R 1 791,00
Levies R 936,50
Variable Expenses
-R 14 211,84
Water & Electricity R 2 368,35
Sweep South R 2 146,00
Credit Card R 11 843,49
Investments
-R 20 250,00
RA R 2 000,00
USD Investment R 2 000,00
USD Savings R 3 000,00
Euro Savings R 3 000,00
Tax Free Shares R 2 750,00
Off Shore Shares R 5 000,00
ZAR Shares R 2 500,00
Incomes & Cash Backs
R 47 361,79
Salary R 43 000,00
Other Income R 3 282,02
Car Insurance Cash Back R 340,61
Healthy Food Cash Back R 106,16
Other Cash Backs R 633,00
Fixed Monthly Expenses -R 11 909,32
Variable Monthly Expenses -R 14 211,84
Monthly Investments & Savings -R 20 250,00
Monthly Incomes & Cashbacks R 47 361,79
Net Effect R 990,63

Gee you're doing very goodly, what do you do if I may ask?

Verrayne · Feb 28, 2020

Matt91 said:
Gee you're doing very goodly, what do you do if I may ask?

Used to be a Business Analyst, got promoted to Chief Operating Officer (i oversee development of a system and then 3 companies our holding company has a stake in) a year or so back. Starting to make a profit now so now I can justify the increase.

Matt91 · Feb 28, 2020

Verrayne said:
Used to be a Business Analyst, Got promoted to Chief Operating Officer a year or so back. Starting to make a profit now so now I can justify the increase.

Ah I see, well you're investments are stellar wish I could do that kinda saving!

BTW... Are you Spongebob?

Verrayne said:
Pineapple Insurance

Toxxyc · Feb 28, 2020

Verrayne said:
Age: 32
Got an increase to take my gross from R63k to R100k from next month. So my investments will go up.

My car is paid off and my house as well. Think I'm doing all right but I squandered a lot of money in my 20's.

Net Worth currently sitting at R3.5 Million.

Holy ****. At 32 you are very close to where I hope to be when I retire one day.

Verrayne · Feb 28, 2020

Matt91 said:
Ah I see, well you're investments are stellar wish I could do that kinda saving!

BTW... Are you Spongebob?

Haha nah, but it was the quickest and easiest way to insure the engagement ring I bought in December.

I studied economics and since day 1 of making any meaningful money I started saving up and investing.

Gaz{M} · Feb 28, 2020

Verrayne said:
Age: 32
Got an increase to take my gross from R63k to R100k from next month. So my investments will go up.

My car is paid off and my house as well. Think I'm doing all right but I squandered a lot of money in my 20's.

Net Worth currently sitting at R3.5 Million.

Fixed Expenses
-R 11 909,32
Short Term Insurance R 3 234,32
Gym Membership R 2 490,00
Life Insurance R 1 921,73
Pineapple Insurance R 537,77
Fibre R 998,00
Rates & Taxes R 1 791,00
Levies R 936,50
Variable Expenses
-R 14 211,84
Water & Electricity R 2 368,35
Sweep South R 2 146,00
Credit Card R 11 843,49
Investments
-R 20 250,00
RA R 2 000,00
USD Investment R 2 000,00
USD Savings R 3 000,00
Euro Savings R 3 000,00
Tax Free Shares R 2 750,00
Off Shore Shares R 5 000,00
ZAR Shares R 2 500,00
Incomes & Cash Backs
R 47 361,79
Salary R 43 000,00
Other Income R 3 282,02
Car Insurance Cash Back R 340,61
Healthy Food Cash Back R 106,16
Other Cash Backs R 633,00
Fixed Monthly Expenses -R 11 909,32
Variable Monthly Expenses -R 14 211,84
Monthly Investments & Savings -R 20 250,00
Monthly Incomes & Cashbacks R 47 361,79
Net Effect R 990,63

It's SICK how much money we have to waste on insurance...

hellfire · Feb 28, 2020

Verrayne said:
Age: 32
Got an increase to take my gross from R63k to R100k from next month. So my investments will go up.

My car is paid off and my house as well. Think I'm doing all right but I squandered a lot of money in my 20's.

Net Worth currently sitting at R3.5 Million.

Fixed Expenses
-R 11 909,32
Short Term Insurance R 3 234,32
Gym Membership R 2 490,00
Life Insurance R 1 921,73
Pineapple Insurance R 537,77
Fibre R 998,00
Rates & Taxes R 1 791,00
Levies R 936,50
Variable Expenses
-R 14 211,84
Water & Electricity R 2 368,35
Sweep South R 2 146,00
Credit Card R 11 843,49
Investments
-R 20 250,00
RA R 2 000,00
USD Investment R 2 000,00
USD Savings R 3 000,00
Euro Savings R 3 000,00
Tax Free Shares R 2 750,00
Off Shore Shares R 5 000,00
ZAR Shares R 2 500,00
Incomes & Cash Backs
R 47 361,79
Salary R 43 000,00
Other Income R 3 282,02
Car Insurance Cash Back R 340,61
Healthy Food Cash Back R 106,16
Other Cash Backs R 633,00
Fixed Monthly Expenses -R 11 909,32
Variable Monthly Expenses -R 14 211,84
Monthly Investments & Savings -R 20 250,00
Monthly Incomes & Cashbacks R 47 361,79
Net Effect R 990,63

Are you living at your folks?

Cius · Feb 28, 2020

Verrayne said:
Haha nah, but it was the quickest and easiest way to insure the engagement ring I bought in December.

I studied economics and since day 1 of making any meaningful money I started saving up and investing.

Is that gym bill accurate? Seems a bit steep or is that including private coaching etc?

Stokstert · Feb 28, 2020

zulucat said:
Does every black person you know work for government - or is this some weird generalisation? We run a family business with mom - farming, trucking, feeds

I didn't generalise, I asked only you if you are in government nothing else and you gave me a decent answer, thank you.
Many in government acquire a lot of wealth by illegal dealings like young tenderpreneurs driving incredible expensive cars.

Priapus · Feb 29, 2020

eehellfire said:
Are you living at your folks?

Read much? Literally the second line says:

My car is paid off and my house as well.

Willie Trombone · Feb 29, 2020

Verrayne said:
Age: 32
Got an increase to take my gross from R63k to R100k from next month. So my investments will go up.

My car is paid off and my house as well. Think I'm doing all right but I squandered a lot of money in my 20's.

Net Worth currently sitting at R3.5 Million.

Fixed Expenses
-R 11 909,32
Short Term Insurance R 3 234,32
Gym Membership R 2 490,00
Life Insurance R 1 921,73
Pineapple Insurance R 537,77
Fibre R 998,00
Rates & Taxes R 1 791,00
Levies R 936,50
Variable Expenses
-R 14 211,84
Water & Electricity R 2 368,35
Sweep South R 2 146,00
Credit Card R 11 843,49
Investments
-R 20 250,00
RA R 2 000,00
USD Investment R 2 000,00
USD Savings R 3 000,00
Euro Savings R 3 000,00
Tax Free Shares R 2 750,00
Off Shore Shares R 5 000,00
ZAR Shares R 2 500,00
Incomes & Cash Backs
R 47 361,79
Salary R 43 000,00
Other Income R 3 282,02
Car Insurance Cash Back R 340,61
Healthy Food Cash Back R 106,16
Other Cash Backs R 633,00
Fixed Monthly Expenses -R 11 909,32
Variable Monthly Expenses -R 14 211,84
Monthly Investments & Savings -R 20 250,00
Monthly Incomes & Cashbacks R 47 361,79
Net Effect R 990,63

No family to support? Don't eat?

Ancalagon · Feb 29, 2020

Tander said:
Read much? Literally the second line says:

I made some poor financial decisions as a young man. At 35, I earn very well, but I don't have much in the way of actual wealth. Oh well.

I'm hoping to be made a team lead this year, and if I do, I might get a good raise come January next year. Hopefully a big bonus too.

Snyper564 · Feb 29, 2020

Daruk said:
No family to support? Don't eat?

I would assume the 11 odd k under credit card

Fixed Expenses	-R 11 909,32
Short Term Insurance	R 3 234,32
Gym Membership	R 2 490,00
Life Insurance	R 1 921,73
Pineapple Insurance	R 537,77
Fibre	R 998,00
Rates & Taxes	R 1 791,00
Levies	R 936,50
Variable Expenses	-R 14 211,84
Water & Electricity	R 2 368,35
Sweep South	R 2 146,00
Credit Card	R 11 843,49
Investments	-R 20 250,00
RA	R 2 000,00
USD Investment	R 2 000,00
USD Savings	R 3 000,00
Euro Savings	R 3 000,00
Tax Free Shares	R 2 750,00
Off Shore Shares	R 5 000,00
ZAR Shares	R 2 500,00
Incomes & Cash Backs	R 47 361,79
Salary	R 43 000,00
Other Income	R 3 282,02
Car Insurance Cash Back	R 340,61
Healthy Food Cash Back	R 106,16
Other Cash Backs	R 633,00
Fixed Monthly Expenses	-R 11 909,32
Variable Monthly Expenses	-R 14 211,84
Monthly Investments & Savings	-R 20 250,00
Monthly Incomes & Cashbacks	R 47 361,79
Net Effect	R 990,63

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