Is your paycheck enough?

spanek · Post by **spanek** » Thu Mar 08, 2007 10:19

I am creating this thread to discuss what you earn and if it is enough for you. I know, I know we all want all the money of the world but I am asking if the money you are earning are enough to live a normal life.

Let me start. I work in an outsourcing company and I earn 1200 euros per month. For now, this amount of money is enough for me because I still live with my parents and I don't have to pay for anything except my own expences. But in a few days (if everything goes as I have planned), I will be moving to my own house together with the gf. She earns another 1200 as a social worker. This makes us 2400 euros for both per month.

We will need 600 euros per month for the rent and another 100 euros per month for the upkeep of the building we will live in. Then I have the petrol for the car and cigarettes to pay which makes aroung 300-400 per month. We will also need to take a loan from the bank to equip (electrical equipment and furniture) our house and we will pay them around 200 per month. Another 200 will be needed for bills (mobile phones, phone, electricity, water). These are all fixed charges and sum up to 1500 euros per month.

This gives us 900 to use for : food, clothing, excursions and whatever unexpected happens (doctors, car malfunction etc).

As you can understand we will be tight, very tight... And yes I am not happy with my paycheck!!

SFault · Post by **SFault** » Thu Mar 08, 2007 11:09

At the moment I'm desperatily trying to find a summer job for me, but without greater experience it's quite hard to get work. I'm a student and I get student aid, but after the rent I get about 150 euros a month. Luckily I have some savings, so I can live, but I cannot buy much stuff and I always have to buy from the cheapest end. But from some things I just cannot save, like insurance and medicine. At these days the Internet & computer are the substitute for phone, TV and other entertainment.

Scythe · Post by **Scythe** » Thu Mar 08, 2007 11:09

It's kind of a difficult discussion because wages and living costs are very different across borders.

Five years ago I was a poor student who had 500 €/month, with more than 400 € worth of expenses, minus food.

Today I earn almost 4000 €/month, but the state takes its share, so I have about 2200 €. My monthly expenses add up to about 500 € - one room apartment since I'm single, including electricity, phone, internet, heating, water, payoff on loan that I should just have paid in full but what the heck it's tax deductible, minus food though.

But, I don't have a car, I don't smoke, I don't party every weekend, I don't pay for the cell phone (work issued), I have free public transportation with trains, free health insurance (beyond what the state offers), and some of my work issued clothes double as personal clothes. All this means I have very few non-regular expenses. Which means I buy whatever I like.

As long as I'm able to keep my current lifestyle, I am more than happy with my income, and it's worked out fine for three years so far. I've spent money on improving the apartment, furnishing it, taking vacations, and still managed to save a decent amount. I've calculated that I can put aside more than 1000 €/month if I cut back a little on my "fun" expenses.

Maz · Post by **Maz** » Thu Mar 08, 2007 23:49

My paycheck allows me to live. I know I should not complain since last year I earned approx the half of what I now earn but...

Well, it's the word 'trainee' I have in my title

I assume I could get ~ 1000 EUR / month more if I did not have that magic word in my title... But it requires graduation, and it seems I will not have time to finish my studies in near future

Anyways, we are able to live, not fancy lfe but bearable anyways. So I assume I should be happy instead of whining

Post by **Chroelle** » Fri Mar 09, 2007 11:26

Well both me and the GF are social educators (pedagogues). We earn a very low salary both of us, but we have the jobs we want to have.
I make around 4000$ before taxes, and the GF makes around 3600$ (I work mor than her, it is not a gender thing). After taxes that is halved more or less. We pay around 2000$ to live in our great apartement.

All in all we have an ok life, but we are known to choose this line of work becuase of the joy of it and not the pay... But I would love to make more money, and the biggest dream would be to be able to live off writing. I love writing, and hope to get published some day. I would however propably not quit my job, but go very much down in how much time I worked there. Something like max 18 hours a week, so I wont get weird staying in all day...

spanek · Post by **spanek** » Fri Mar 09, 2007 11:52

4000 euros (before taxes) is considered a low salary in Denmark?

I earn 1600 euros before taxes and I am considered to have a normal salary here in Greece...

I wish I could live in Denmark

Post by **Chroelle** » Fri Mar 09, 2007 13:05

But what is your taxrate? Mine is about 50%

Alot of things are very expensive in Denmark as you can read from Scythes post too.
If you smoke you will most likely spend about 100$ a month on that.
If you have a car then you will most likely spend about 150$ a month on that. If you dont have far to work.
Busfare is close to 3,5$
A hamburger at Macdonalds would be (I think- I boycutted McDonalds about 6-7 years ago) 2$
Buying a liter of milk is around 1,5$
What else to compare with...
Oh yeah, we pay a TV-license for 200$ a year, and insurance is simply crazy.
To save up for my retirement (in about 40 years) I have to put (adviced by banks) at least 15% of my income away.
And housing in general is crazy expensive too.
But Denmark does alright and I am not complaining...

Free healthcare, education and so forth

Post by **Zyx** » Fri Mar 09, 2007 13:33

50% tax rate for teh win!

spanek · Post by **spanek** » Fri Mar 09, 2007 13:47

Chroelle wrote:But what is your taxrate? Mine is about 50%
Alot of things are very expensive in Denmark as you can read from Scythes post too.
If you smoke you will most likely spend about 100$ a month on that.
If you have a car then you will most likely spend about 150$ a month on that. If you dont have far to work.
Busfare is close to 3,5$
A hamburger at Macdonalds would be (I think- I boycutted McDonalds about 6-7 years ago) 2$
Buying a liter of milk is around 1,5$
What else to compare with...
Oh yeah, we pay a TV-license for 200$ a year, and insurance is simply crazy.
To save up for my retirement (in about 40 years) I have to put (adviced by banks) at least 15% of my income away.
And housing in general is crazy expensive too.
But Denmark does alright and I am not complaining...
Free healthcare, education and so forth

I like this type of conversations as we can compare our countries...

Ok here is the list :
Petrol Unleaded 95RON 1 euro / litre
Cigarettes 3 euro a package
Milk 1 euro / litre
Hamburger 2,5 euros
Busfare 0,75
Subway 0,95

Houses : A new apartment around 85m2 is 600 euros per month. If you want to buy it it can be from 160.000 to 200.00 depending on the area.

Taxes depend on your income. It can be from 15% up to 40%. Also along with the taxes, the government keeps a part of your salary for your pension.

We have almost free healthcare (we pay a small amount but the healthcare in Greece sucks), free education (though you cannot make without having to pay for private lessons) and that's it.

All these prices are in Athens which is the capital. Outside Athens things are a bit different.

Scythe · Post by **Scythe** » Fri Mar 09, 2007 16:59

spanek wrote:4000 euros (before taxes) is considered a low salary in Denmark?
I earn 1600 euros before taxes and I am considered to have a normal salary here in Greece...

Chroelle was actually talking $, not €, but it's a fairly small difference. Still, taxes kill our high income in DK.

Pitkin · Post by **Pitkin** » Fri Mar 09, 2007 21:13

Scythe wrote:
spanek wrote:4000 euros (before taxes) is considered a low salary in Denmark?
I earn 1600 euros before taxes and I am considered to have a normal salary here in Greece...
Chroelle was actually talking $, not €, but it's a fairly small difference. Still, taxes kill our high income in DK.

The difference is actually closer to huge than fairly small. 4,000USD equals around 3,000€. If the salary really was 4,000 _euros_ before taxes, no matter what the taxes are, I'd call that a well-paid job. With 3,000€ it's more average.

Me? I get no paycheck when studying, and when working part-time, I earn enough. Details are funnier left undisclosed. ^^

Scythe · Post by **Scythe** » Sat Mar 10, 2007 0:38

Call me mathematically challenged.

I'm not used to converting that way...

Pitkin · Post by **Pitkin** » Sat Mar 10, 2007 13:57

Aww, I didn't mean it that way, Scythe(-san). ^^ It's just that with the constant talk about the strengthening value of euro against the dollar I felt the urge to... and I study economics too... dang know-it-all.

Chris · Post by **Chris** » Fri Mar 16, 2007 3:08

not telling you guys how much i earn, i will say that now i am in London i earn almost double what i earnt in Wales. So lifes pretty good at the moment

spanek · Post by **spanek** » Fri Mar 16, 2007 9:46

This is true but from what I know, life in London ain't that cheap as in Wales (I spent 4 years in Cardiff as a student so I know).
What is your work?

Post by **Chroelle** » Fri Mar 16, 2007 18:24

Hiya Chris. Good to see you again

Maz · Post by **Maz** » Mon Mar 19, 2007 0:24

OOOOO... Chrissy has become one of those rich yuppie boys... Now we lowpaid ppl are too lousy to share the information with... Well, it seems that's what money does

EDIT:

Oh, and go get an avatar for yourself you lazy git

Maz · Post by **Maz** » Mon Mar 19, 2007 0:48

Oh, I thought Greece was cheaper than that...

Well, in Finland we pay something like:

Petrol Unleaded 95RON 1,25 euro / litre
Cigarettes 3,80 - 5 euro a package (20 pcs)
Hamburger from 2,5 upwards
Busfare, depends on place you life. At my town it's approx 2,5 euros at daytime, 5 euros at night.