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

[^^vampire^^]

72k ctc, no benefits etc. Private school

People unfortunately think teachers are living the dream if they work at a private school. Many people don't know that private schools pay teachers far less than those in public education paid by the GDE or similar. Private schools tend to have better behaved kids and this is one of the reasons why they state they pay less. Working as a teacher in public schools can definitely take it's toll, especially in high school. It's not just mentally abusive anymore but also physically.

 

[Priapus]

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.

As long as you've learnt from them and making changes, that's all that matters.

Myself, I'm 31. Around 24 I stopped being stupid with money and ended up buying my first house in December last year. I plan to have it paid off before I am 40 by putting as much money into it as I can. My wife and I both drive 10 year old cars that are fully paid off and have zero intention on buying a new one for a long while.

 

[Priapus]

Is that 72k ctc or pocketed salary

Per month or annum?

 

[Priapus]

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

I would love to hear more about your investments and what you have setup if you don't mind sharing?

 

[genetic]

1k for other bills, a clothing account, banks fees

It will serve you well to kill all debt and not have clothing accounts.

In short if you cant pay cash you cant afford it.

A lot of clothing accounts are interest free for 6 months.

 

[genetic]

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.

Well done, especially considering your age.

 

[Verrayne]

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

I'm at a collection gym, so it's R1245 per person, I pay for myself and my fiancée. Now that I finally have my discovery banking card it will go down a bit since i'll get at least 75% back instead of having a 50% discount.

 

[Verrayne]

I would love to hear more about your investments and what you have setup if you don't mind sharing?

So I have a USD and a Euro account at FNB. It helps with my eBucks level and that is also what I use as my savings account for holidays that I want to take.

From an investment perspective. I used to trade CFD's which I stopped at the moment, I'm focusing on increasing my local and international share portfolio's. I stick to ETF's in my tax free account. I'll short a company here and there. For instance I took put options on Alpha Pro Tech

Internationally:
Tesla
Apple
Microsoft
Beyond Meat
Disney
Nvidia
Netflix
Sony
China Molybdenum

Locally:
Shoprite
Naspers
Sibanye
Purple Group
First Rand
Discovery
Capitec
AngloPlats

 

[Priapus]

So I have a USD and a Euro account at FNB. It helps with my eBucks level and that is also what I use as my savings account for holidays that I want to take.

From an investment perspective. I used to trade CFD's which I stopped at the moment, I'm focusing on increasing my local and international share portfolio's. I stick to ETF's in my tax free account. I'll short a company here and there. For instance I took put options on Alpha Pro Tech

Internationally:
Tesla
Apple
Microsoft
Beyond Meat
Disney
Nvidia
Netflix
Sony
China Molybdenum

Locally:
Shoprite
Naspers
Sibanye
Purple Group
First Rand
Discovery
Capitec
AngloPlats

Thanks for the reply; very helpful. Would you mind if I PM you at some point for guidance on investing in companies like above? Always wanted to invest in the likes of Apple, Tesla, etc.

 

[Verrayne]

Thanks for the reply; very helpful. Would you mind if I PM you at some point for guidance on investing in companies like above? Always wanted to invest in the likes of Apple, Tesla, etc.

Not at all. I'm always willing to help out

 

[akescpt]

Doesn’t even matter how much I earn. It’s worth less and less every month. Why even bother? ****ing **** show.

 

[Wut]

Doesn’t even matter how much I earn. It’s worth less and less every month. Why even bother? ****ing **** show.

My pay keeps going up with the exchange rate which seems to be outpacing inflation, so I'm smiling even though I only got a small 3.5% increase.

 

[mr_norris]

Thanks for the reply; very helpful. Would you mind if I PM you at some point for guidance on investing in companies like above?

Easy Equities is pretty straightforward. You go through the motions of signing up, fund your account (ZAR or US), and then invest away.

Fairly active thread is here: https://mybroadband.co.za/forum/threads/easy-equities-good-or-bad.637974/

 

[Priapus]

Easy Equities is pretty straightforward. You go through the motions of signing up, fund your account (ZAR or US), and then invest away.

Fairly active thread is here: https://mybroadband.co.za/forum/threads/easy-equities-good-or-bad.637974/

Thanks!

 

[Mrcricket]

It differs from month to month. I am 24 and earn just over 13k a month from my contract job as a reporter. I do a few jobs as a side hustle which bring in some extra money. On a good month, it brings in a few thousand and on a bad month, a few hundred.

I don't have any major expenses. I moved back home as I got a job in Durban and don't have a car as yet. Media houses are not doing very well and as I am on contract, I could be released at anytime so I will probably only get a car as soon as I get a permanent contract.

My money mainly goes towards eating takeaways and uber's.

Data (about R169 a month)

Airtime (about R300 a month)

Fast food (about R1500 a month)

(other expenses: about R2000 a month)

 

[Priapus]

It differs from month to month. I am 24 and earn just over 13k a month from my contract job as a reporter. I do a few jobs as a side hustle which bring in some extra money. On a good month, it brings in a few thousand and on a bad month, a few hundred.

I don't have any major expenses. I moved back home as I got a job in Durban and don't have a car as yet. Media houses are not doing very well and as I am on contract, I could be released at anytime so I will probably only get a car as soon as I get a permanent contract.

My money mainly goes towards eating takeaways and uber's.

Data (about R169 a month)

Airtime (about R300 a month)

Fast food (about R1500 a month)

(other expenses: about R2000 a month)

That's a lot of fast food. Is it necessary?

 

[Snyper564]

That's a lot of fast food. Is it necessary?

Agreed, Fast food is a luxury. Way cheaper to buy bulk prep food and freeze etc will also help with savings towards a car.

 

[PhreakBoy]

It differs from month to month. I am 24 and earn just over 13k a month from my contract job as a reporter. I do a few jobs as a side hustle which bring in some extra money. On a good month, it brings in a few thousand and on a bad month, a few hundred.

I don't have any major expenses. I moved back home as I got a job in Durban and don't have a car as yet. Media houses are not doing very well and as I am on contract, I could be released at anytime so I will probably only get a car as soon as I get a permanent contract.

My money mainly goes towards eating takeaways and uber's.

Data (about R169 a month)

Airtime (about R300 a month)

Fast food (about R1500 a month)

(other expenses: about R2000 a month)

Good thing you're in journalism, cause your maths isn't very good

What is happening with the other R9,031?

I hope you're saving and investing a lot. Do you have a Tax Free Savings Account (TFSA) yet?

I was about that age when I bought my first property on my dad's insistence (he didn't want me spending it all on booze and parties). It was during the property boom and I ended making a 60% profit when I sold. If I were to be in your position now, I would do it in a TFSA and ETF's.

 

[Mrcricket]

Good thing you're in journalism, cause your maths isn't very good

What is happening with the other R9,031?

I hope you're saving and investing a lot. Do you have a Tax Free Savings Account (TFSA) yet?

I was about that age when I bought my first property on my dad's insistence (he didn't want me spending it all on booze and parties). It was during the property boom and I ended making a 60% profit when I sold. If I were to be in your position now, I would do it in a TFSA and ETF's.

Just sticking around in my bank account to be honest. Yes, I need to do that, thanks for the heads up.

 

[jman]

Good thing you're in journalism, cause your maths isn't very good

What is happening with the other R9,031?

I hope you're saving and investing a lot. Do you have a Tax Free Savings Account (TFSA) yet?

I was about that age when I bought my first property on my dad's insistence (he didn't want me spending it all on booze and parties). It was during the property boom and I ended making a 60% profit when I sold. If I were to be in your position now, I would do it in a TFSA and ETF's.

How many years between where you bought and sold? Need to provide an annualised return. (i.e. if it was 2 years, it'd be great, but 10 years, not so much)