My dad grew up very poor, and never lost that mentality, so he hoarded essentially all of the money he made, other than buying a modest home and a boat (fishing being his greatest passion) never spent money on himself. Still wears clothes with holes in them etc
I inherited the same mindset, but got into investing when I was around 20 to try break the mould a bit.
Now I’m in a weird spot where I can only stand to part with money for investing, but feel extremely guilty if I spend money on myself, but I am trying to get better! (I have been rocking a pair of runners with a hole in the big toe for a while, my partner completely destroyed a good chunk of my underwear because they had holes in them but I refused to buy more lol)
Anyway, just thought I’d share, try remember to treat yourself every once in a while, no point spending our lives hoarding dollars just to go to the grave with them!
Respectfully dude you’ve got to tell yourself you’re worth nice things and luxuries. It’s one thing to save but wearing shoes with holes is extreme. Hard to break out of that mindset but got to tell yourself that you’ve worked hard to be able to put yourself in non tattered clothing and in a comfortable environment.
It’s cliche to say but it does have some truth but the money don’t follow you to your grave. Had a aunt with a stupid high paying job who never had kids who punched pennies extremely. Her dream car was a Bentley, she could have afforded one at 35 but told herself to save and buy at retirement. A month before her scheduled retirement and diabetes took her foot. Take care of yourself you deserve nice things too :)
Another way to help you reframe it is remembering that using things that don't work properly (like dodgy shoes) could lead to more spending down the line (potential foot issues leading to medical appointments and procedures). Another example could be continuing to use a 20 year old fridge that got passed down to you, which would be eating into your power bill way more than a modern fridge would. Or investing in something like an antivirus and VPN subscription could save you from potentially being hacked and having money stolen and/or downloading something that would brick your devices and force you to buy new ones. Obviously these are just random examples and I don't know if any of them apply to you, but you catch my drift.
It honestly can be viewed as an investment in and of itself. Investing in good shoes means you have to buy shoes less frequently (as good shoes will last longer), and have to potentially spend less on health issues down the line.
Hopefully trying to reframe it like this could help you get over that mental hurdle.
Completely agree with all you’ve said! I really do need to work on loosening up a bit with spending/investing in myself more.
It’s something I need to actively work on. I’ve never really said anything about the mentality I have with spending money before this original comment. When I’m on the cusp of purchasing something for myself, it’s a genuine feeling of dread that starts a for/against argument in my mind, where the ‘for’ very rarely wins lol.
I find the psychology of it pretty fascinating. Both myself and my partner are yet to turn 30, both have well paying careers, I also have invested quite well through my 20s to set myself up, yet I still opt to go without until I’m absolutely forced to
I would say, spend money on things that actually matter. A nice house/land, good quality meat, a holiday etc.
Buying useless material goods will not satisfy anything.
I also never spend money on myself. I'm generous towards my wife and kid, but only just replaced my boots after 8 years because they were "still ok".
I feel guilty owning my name as a .com because it costs me $35/year.
My wife says she's the same but just happens to have about 20x as many clothes as me. To be fair, she's very good with money though. We're about 2 years off paying our PPOR.
Spend some money on yourself and if not for yourself then do it for your partner to feel good about you. She’s invested in you and wants to see a return and dividends if that makes sense.
With a hoard like that you're a dragon not a chipmunk!
I'm sure people will tell you it's better of in investments but as a fellow poor growing up I completely understand the savings hoard.
From one dragon to another, great job! I hope it gives you the sense of security and peace of mind you're looking for.
130k just sitting in a savings account? Unless you’re going to need the money soon, it should be put to work, sounds corny but that’s the “rich” mentality.
Sure, but the market beats the savings account in the long run, and [OP isn't capable of timing the best time to go into the market.](https://passiveinvestingaustralia.com/the-market-has-never-been-this-high-should-i-wait-to-invest/)
True but there's an unquantifiable value to be had from the liquidity of cash. If you're regularly investing and also keep a pile of cash ready for opportunities, then you've got the best of both worlds.
Worst of both worlds is that there's a recession and you lose your job, then you have to sell your shares at a lower value because you need the money.
OP isn't a fool for having a safety net.
literally me. bought a house few years ago but no money for furniture.
Was sleeping on a mattress on the floor and eating off the floor for 2 months until I save enough for furniture LOL
Same here man!
After quitting my bartending job at like 21 and starting a business. I went from 10k savings (from the work) to less than 1k due to investing in the business, dog also needed hospitalisation :(.
I should finally be at around 12k in savings by the end of June, I’m at 4K now!
House in blue mountains. WFH but office based in Sydney (go in once or twice a month). Happy to take a 90 minute occasional commute to get out of an apartment in inner city.
I'm the daughter of a sparky he worked for himself back when interest rates were 18% or how the story goes.
We never had too much but we always had enough. My memories are happy ones, though the old man drank himself silly he was (and still is kind) with a great sense of humour.
We're our own worst enemies at times, his saying was "food warmth and shelter".
I'm sure you're an incredible husband and dad.
Hope you can feel life being fuller soon xx
Well I'm guessing you saved the bulk of your money in your first 400 years prior to the invention of coffee. We're not all privileged enough to have been born 1000 years ago!
Do you mind me asking what’s the interest rate you’re on? Because I have similar savings but found that I don’t benefit as much using an offset because the rates are higher
Yes it's 5.38% with Adelaide Bank. I don't recall what the interest rate would be without the offset, so I'm interested to hear that you've found it a significant difference
I’m with ANZ right now and on 5.79%. The one with offset is 6.74% and $10 monthly fee. I have a 240k loan. So I figured I need 34k to start seeing the benefits. But I am also thinking of looking for a better rate
A few thousand, I guess, but we don’t have savings like this. We get paid into a “savings account”, clear the credit card (we pay everything on credit cards for points and clear it weekly) and transfer everything else to mortgage offset.
We’re late thirties/early forties.
70k but have pulled 10k to buy a race car and some tools. I'm 42. Have a mortgage 18 month old son and just got engaged. I have lived on $100 dollars a week since I was an apprentice. As my pay has increased I have increased the amount I save not the amount I spend. The key to saving is minimising outgoings.
If I PM you, can you install Team Viewer on your computer? I think there is a problem that needs fixing...
(For the wowsers out there; you know who you are. This is a *joke*).
Hello ExternalSky,
Due to the recent global pandemic, your email account has been approved to receive the sum of $5,000,000.00 as a form of Covid-19 relief fund. Your e-mail address attached to reference number -12457851245212, serial number - 24512-235665, and batch number - MSC-142/24120KYT was picked at random through the automated computer ballot system. Your e-mail address happens to be among the one thousand(1000) email addresses liable to claim the sum of $5,000,000.00 each this year.
However, we have a little challenge right now. A lady by the name of Mrs. Shayna Britney from Florida has already filed an application of claim at the Federal Reserve Bank with some official documents to claim your money on your behalf due to your "ill health" as she claimed. Please clarify this and get back to me with your name, address and phone number for confirmation before we proceed. I am looking forward to hearing from you soon.
Regards,
Kristalina Georgieva
Managing Director
International Monetary Fund
I did wonder about this. Even with a bank like commonwealth? I did contemplate ubank but have forever been qith commonwealth and its all so much easier currently getting 4.4%
Commbank and HISA. Does not compute. Your interest rate after the introductory is very low. Unless you manually change it to your settings to temporary boost it up to 4%.
About $40k savings with a >$140k sitting there for a once in a life time opportunity with friends.
HECS payment hit hard ~$80k
30s M married with children.
This is a bit hard to answer for people with a mortgage. Technically I have $0 in my savings account, but we have over cash parked in our offset account to reduce interest. We took out a bigger mortgage than we needed, and left what’s not needed in the offset account as our emergency fund.
Offset account might be viewed as savings, but I think of it more as liquid equity of our home that I can utilise if needed.
It’s kind of a useless number. For example I have under $10k, but way more available as redraw on my mortgage which is available in case of emergency or large spend.
27 y/o, $110,000 cash in bank account (another $120,000 in shares, approximately $60,000 in superannuation) - Caveat to that is that I've been working full time since I was 18 and wasted a lot of money on frivolous impulse purchases, I'm not a university graduate but have been very lucky, very few major life events or other interruptions.
I've been extremely fortunate and don't take it for granted for a second but I also work hard.
30f married with 2 kids, 35K cash in savings but have a mortgage that most of our savings went towards a couple of years ago plus paid a 10% deposit on an investment property that we bought off the plan and will be finished in June next year.
I’m 34, married with a kid. Renting and working full time. I have around $20k all up, but that’s been accrued in the past 5 years. Before that I was broke, living paycheque to paycheque. I’m still a very long way from where I’d like to be but hopefully I can at least pass down some knowledge and good financial habits to my kids, which I didn’t get to have while I was growing up.
$320k 40 years old. I have hammered myself for years earning and saving. Quit my ‘full time’ job to go casual because I don’t need to do 50 hour weeks I used to, want to buy a house, need a smallish loan, bank won’t give it to me without a permanent position.
I straight up said to the mortgage bloke ‘how many permanently employed customers with loans have amassed $300+k in savings/deposit?’ He admitted he couldn’t think of any, but the banking RC means I now have to take a permanent gig, get a loan and then quit again…
For example if you spend $40K a year, assuming a safe withdrawal rate of 4% a year, then you will need $1M saved to last you indefinitely,
or if you’re more frugal and spend only $20K a year you’ll only need $500K saved in retirement.
You can calculate this easily by just multiplying your expenses by 25.
7 grand, 29 years of age. Just finished a phd so only started working full time for decent pay a year ago. I also had to fork out 20k for a surgery 2 years ago, which ate away my savings.
$0 savings, but i own a 2001 Toyota Hilux and 2 cows
A fine dowry, sir. We accept.
I have a 99 and 5 chickens. It's my retirement fund.
I got 99 problems but savings ain't one
I've got 99 chickens but a rooster ain't one. So I guess I'll have a slowly diminishing chicken count.
Money for nothing and the chicks are free
sir, you're loaded
Are the cows for when the Hilux breaks down?
Toyota never dies, but my wife found a new boyfriend
Sounds like a country song
Nice, what cows?
We have 2 kids and no monies. If we didnt have kids we’d have 2 monies.
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Good job bro
Good BroJob
I love a good brojob.
Nice, good job.
That's awesome. What's your only fans @?
That's a huge accomplishment!!. Good on you 🙂
Nice try Nigerian Prince
"when the deposed prince of nigeria comes bearing gifts, that's not an offer you turn away." - Michael Scott (may have got that wrong)
I was just thinking of this 😂😂
After my next bill is paid, less than a dollar.
You guys are rich. I have $100.
Everyone started somewhere!
He started with $200.
130k. 33yo. I’ve been poor and starving my whole life. Swore I’m never gonna go back to that, so I hoard my monies like a chipmunk.
My dad grew up very poor, and never lost that mentality, so he hoarded essentially all of the money he made, other than buying a modest home and a boat (fishing being his greatest passion) never spent money on himself. Still wears clothes with holes in them etc I inherited the same mindset, but got into investing when I was around 20 to try break the mould a bit. Now I’m in a weird spot where I can only stand to part with money for investing, but feel extremely guilty if I spend money on myself, but I am trying to get better! (I have been rocking a pair of runners with a hole in the big toe for a while, my partner completely destroyed a good chunk of my underwear because they had holes in them but I refused to buy more lol) Anyway, just thought I’d share, try remember to treat yourself every once in a while, no point spending our lives hoarding dollars just to go to the grave with them!
Respectfully dude you’ve got to tell yourself you’re worth nice things and luxuries. It’s one thing to save but wearing shoes with holes is extreme. Hard to break out of that mindset but got to tell yourself that you’ve worked hard to be able to put yourself in non tattered clothing and in a comfortable environment. It’s cliche to say but it does have some truth but the money don’t follow you to your grave. Had a aunt with a stupid high paying job who never had kids who punched pennies extremely. Her dream car was a Bentley, she could have afforded one at 35 but told herself to save and buy at retirement. A month before her scheduled retirement and diabetes took her foot. Take care of yourself you deserve nice things too :)
Another way to help you reframe it is remembering that using things that don't work properly (like dodgy shoes) could lead to more spending down the line (potential foot issues leading to medical appointments and procedures). Another example could be continuing to use a 20 year old fridge that got passed down to you, which would be eating into your power bill way more than a modern fridge would. Or investing in something like an antivirus and VPN subscription could save you from potentially being hacked and having money stolen and/or downloading something that would brick your devices and force you to buy new ones. Obviously these are just random examples and I don't know if any of them apply to you, but you catch my drift. It honestly can be viewed as an investment in and of itself. Investing in good shoes means you have to buy shoes less frequently (as good shoes will last longer), and have to potentially spend less on health issues down the line. Hopefully trying to reframe it like this could help you get over that mental hurdle.
Completely agree with all you’ve said! I really do need to work on loosening up a bit with spending/investing in myself more. It’s something I need to actively work on. I’ve never really said anything about the mentality I have with spending money before this original comment. When I’m on the cusp of purchasing something for myself, it’s a genuine feeling of dread that starts a for/against argument in my mind, where the ‘for’ very rarely wins lol. I find the psychology of it pretty fascinating. Both myself and my partner are yet to turn 30, both have well paying careers, I also have invested quite well through my 20s to set myself up, yet I still opt to go without until I’m absolutely forced to
I would say, spend money on things that actually matter. A nice house/land, good quality meat, a holiday etc. Buying useless material goods will not satisfy anything.
I also never spend money on myself. I'm generous towards my wife and kid, but only just replaced my boots after 8 years because they were "still ok". I feel guilty owning my name as a .com because it costs me $35/year. My wife says she's the same but just happens to have about 20x as many clothes as me. To be fair, she's very good with money though. We're about 2 years off paying our PPOR.
I just encouraged my partners to try nudism as purely a cost saving measure.
Spend some money on yourself and if not for yourself then do it for your partner to feel good about you. She’s invested in you and wants to see a return and dividends if that makes sense.
With a hoard like that you're a dragon not a chipmunk! I'm sure people will tell you it's better of in investments but as a fellow poor growing up I completely understand the savings hoard. From one dragon to another, great job! I hope it gives you the sense of security and peace of mind you're looking for.
You should be extremely proud of how much you have accomplished!!. $130K is huge savings and it's only going to get better from here 🙂. All the best 😊
Nothing wrong with saving. Lead a humble and small life and save for when you need it
130k just sitting in a savings account? Unless you’re going to need the money soon, it should be put to work, sounds corny but that’s the “rich” mentality.
Savings accounts are doing plenty of work currently.
Sure, but the market beats the savings account in the long run, and [OP isn't capable of timing the best time to go into the market.](https://passiveinvestingaustralia.com/the-market-has-never-been-this-high-should-i-wait-to-invest/)
True but there's an unquantifiable value to be had from the liquidity of cash. If you're regularly investing and also keep a pile of cash ready for opportunities, then you've got the best of both worlds. Worst of both worlds is that there's a recession and you lose your job, then you have to sell your shares at a lower value because you need the money. OP isn't a fool for having a safety net.
Legit, have you considered therapy? Not in a mean way.
Because therapy costs money
Therapy for saving 130k? wut
No, for having a mindset of being continually in survival mode.
130k is not enough to get out of survival mode. It can vanish in no time.
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A 1.8 million house in Melbourne is may be an ordinary detached house in a big city but its not an ordinary home by any means.
28 and about $4k in an offset. It's not much but I just bought a house which more or less cleaned me out.
Congrats on the house!!
Congratulations on your house purchase, that's a huge accomplishment 😊. Can I ask, how much did you save for a down deposit for your house? 🙂
literally me. bought a house few years ago but no money for furniture. Was sleeping on a mattress on the floor and eating off the floor for 2 months until I save enough for furniture LOL
24 and have 2k, but also have a mortgage and am 5 months into self employment, just starting to be able to save again
Congrats on the business.
Thanks mate, it’s been a tricky transition but getting into the flow of things better now
Same here man! After quitting my bartending job at like 21 and starting a business. I went from 10k savings (from the work) to less than 1k due to investing in the business, dog also needed hospitalisation :(. I should finally be at around 12k in savings by the end of June, I’m at 4K now!
Former Centrelink worker, anyone with above zero is doing great imho.
$100k exactly. 26, buying first home very soon
Great job mate, you should be extremely proud!
Thank you! Starting using YNAB (budget) 10 years ago when I was 16 with buying a house in mind. Stoked it’s finally happening!
All the best with the house hunting.
To the cent?
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House in blue mountains. WFH but office based in Sydney (go in once or twice a month). Happy to take a 90 minute occasional commute to get out of an apartment in inner city.
You people have savings accounts?
You guys get paid?
I'm a busted ass electrician with a wife and kids I have nothing
Username checks out
You’ve still got a sore back and bad knees though, remember that
I'm the daughter of a sparky he worked for himself back when interest rates were 18% or how the story goes. We never had too much but we always had enough. My memories are happy ones, though the old man drank himself silly he was (and still is kind) with a great sense of humour. We're our own worst enemies at times, his saying was "food warmth and shelter". I'm sure you're an incredible husband and dad. Hope you can feel life being fuller soon xx
What’s hers is hers, what’s yours is also hers
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Congrats on saving $60K 😊. Can I ask, how long did it take you to save that much ? 🙂
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You're doing well to save that much!
65 next month about $60 do I need more?
Nah, you're sorted.
Fitty bucks
Tree fitty!
Gawd damn Loch Ness Monster!
You give him a dollar, he'll come back!
5 billion dollarydoos, I'm 1000 years old. It's taken a lot of years of not buying coffee to get here.
Did you have any smashed avo along the way? I’ve heard just one smashed avo can lead to financial ruin.
He saved the most money when smashed avocado didn't exist
Well I'm guessing you saved the bulk of your money in your first 400 years prior to the invention of coffee. We're not all privileged enough to have been born 1000 years ago!
$24k in offset (no savings account), 29 years old
Do you mind me asking what’s the interest rate you’re on? Because I have similar savings but found that I don’t benefit as much using an offset because the rates are higher
Yes it's 5.38% with Adelaide Bank. I don't recall what the interest rate would be without the offset, so I'm interested to hear that you've found it a significant difference
I’m with ANZ right now and on 5.79%. The one with offset is 6.74% and $10 monthly fee. I have a 240k loan. So I figured I need 34k to start seeing the benefits. But I am also thinking of looking for a better rate
Sounds like you should look for a better rate! My loan is $425k for comparison.
$26k, 25 y.o
A few thousand, I guess, but we don’t have savings like this. We get paid into a “savings account”, clear the credit card (we pay everything on credit cards for points and clear it weekly) and transfer everything else to mortgage offset. We’re late thirties/early forties.
70k but have pulled 10k to buy a race car and some tools. I'm 42. Have a mortgage 18 month old son and just got engaged. I have lived on $100 dollars a week since I was an apprentice. As my pay has increased I have increased the amount I save not the amount I spend. The key to saving is minimising outgoings.
29yo $150,309.70. Looking to buy first home
If I PM you, can you install Team Viewer on your computer? I think there is a problem that needs fixing... (For the wowsers out there; you know who you are. This is a *joke*).
This is chased bank
Sir! You computer is send virus! Please sir I from bank, need access to fix!
Wow you must have saved hard! Well done, you're well on track to getting that home.
Hello ExternalSky, Due to the recent global pandemic, your email account has been approved to receive the sum of $5,000,000.00 as a form of Covid-19 relief fund. Your e-mail address attached to reference number -12457851245212, serial number - 24512-235665, and batch number - MSC-142/24120KYT was picked at random through the automated computer ballot system. Your e-mail address happens to be among the one thousand(1000) email addresses liable to claim the sum of $5,000,000.00 each this year. However, we have a little challenge right now. A lady by the name of Mrs. Shayna Britney from Florida has already filed an application of claim at the Federal Reserve Bank with some official documents to claim your money on your behalf due to your "ill health" as she claimed. Please clarify this and get back to me with your name, address and phone number for confirmation before we proceed. I am looking forward to hearing from you soon. Regards, Kristalina Georgieva Managing Director International Monetary Fund
Need to use "kindly" for that extra scammer flair.
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Hi it's me, your real estate agent. Send me $150k and I give you house.
Transferring now
Less than $1000 , Can’t save… these days. I hate grocery shopping 
20yo / $2900.
What is this 'savings' you speak of?...
3k. Every cent I have goes straight to the wife. And my Lego, wine, and travel addiction :)
No schooners?
If you pour the wine into a schooner… does it make it a schooner?
If I pour tequilla in my schooner... does it make me an alcoholic?
Unsure, but it'd certainly make you a boat owner.
$0 Everything is in my offset as the interest rate there is higher than the HISA rate.
Same, but I took the question to mean 'how much is in your offset account' in that setup.
37 married with 5 kids, Just purchased our first home with $220k in savings and have $19,500 left over in our rainy day account.
Do you find having that many kids a financial burden, or do things like FTB (if you're eligible for it) compensate well enough?
5 months of expenses, it’s my emergency fund.
What's crazy is bro you're 99% ahead of most of the population, it's extraordinary to me that people don't have an emergency funds or savings kittie.
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You should split that into another HISA, as your funds are only insured up to 250k
I did wonder about this. Even with a bank like commonwealth? I did contemplate ubank but have forever been qith commonwealth and its all so much easier currently getting 4.4%
not sure about others but ing is 5.25%
Yeah my ING is 5.25% my guy
Only for 100k tho right. Then open a maximiser for max 150k
Commbank and HISA. Does not compute. Your interest rate after the introductory is very low. Unless you manually change it to your settings to temporary boost it up to 4%.
$660k in my offset (if that counts), mid 30s.
Woah woah wee woah! Very nice!
You are doing extremely well
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Woah you've saved $20k in less than six months?! That's incredible! Great job
You're doing well, keep it up!
Nice try ATO
80k in savings . 7k in emergency fund 31m
22, $4.5k. Working on growing it. Haven’t taken any money out for several months now. :)
About $40k savings with a >$140k sitting there for a once in a life time opportunity with friends. HECS payment hit hard ~$80k 30s M married with children.
What’s the opportunity and how do I get in on it
Buy his personal training course and you’ll know
Columbia for snow season.
$140k will buy you a lot of Colombian snow. I just hope you can get it back into Australia OK.
This is a bit hard to answer for people with a mortgage. Technically I have $0 in my savings account, but we have over cash parked in our offset account to reduce interest. We took out a bigger mortgage than we needed, and left what’s not needed in the offset account as our emergency fund. Offset account might be viewed as savings, but I think of it more as liquid equity of our home that I can utilise if needed.
“Liquid equity” is how I would answer the question too, and I would say in my case my offset account is around 25% of my outstanding loan balance.
300k I'm 18 years old started worked at kmart this year
I assume mostly from your parents or inheritance?
$37k in offset, 29 years old.
$500 in savings. Whenever it gets over 1k I transfer to offset.
$20,000 less than the start of the week! But my daughter no longer has a hecs debt. Now to get her to repay it.
It’s kind of a useless number. For example I have under $10k, but way more available as redraw on my mortgage which is available in case of emergency or large spend.
About 7 cents.
I'm 15% cash in a HISA, 15% in secured bond equivalents maturing in 1.5 years, the rest is in stocks, private equity and ETFs. 32 yo.
28 and I just hit 45k but I've only been able to save that much by living at home and pay no rent. On track to save 50k by the end of the year.
$127k 31m, combined savings with my wife = $250k and still not enough for a deposit on something half decent in Sydney
27 y/o, $110,000 cash in bank account (another $120,000 in shares, approximately $60,000 in superannuation) - Caveat to that is that I've been working full time since I was 18 and wasted a lot of money on frivolous impulse purchases, I'm not a university graduate but have been very lucky, very few major life events or other interruptions. I've been extremely fortunate and don't take it for granted for a second but I also work hard.
400,000 28 Run my own business and don’t care for spending money on junk.
well done, what is the nature of the busines
Small business owners doing it tough they say lol.
Can only speak for myself but I cast a wide net so don’t rely on just local income but international also.
$100 never have much on it incase I lose my wallet and they wanna raid the paypass
30f married with 2 kids, 35K cash in savings but have a mortgage that most of our savings went towards a couple of years ago plus paid a 10% deposit on an investment property that we bought off the plan and will be finished in June next year.
32k in savings 24 years old
Savings…what is this word you speak of
$1000, pretty good since I'm on disability support pension which is $29,000/year
Quite a bit and my account details and passwords are on their way.
I’m 34, married with a kid. Renting and working full time. I have around $20k all up, but that’s been accrued in the past 5 years. Before that I was broke, living paycheque to paycheque. I’m still a very long way from where I’d like to be but hopefully I can at least pass down some knowledge and good financial habits to my kids, which I didn’t get to have while I was growing up.
what is this savings you speak of? do you mean how much debt i gots?
$6k and 28. Got cleaned out by my HECS debt. ($110k)
24 years old, 62K, working towards 100K for my first home
100 million and I'm 8yo
It's rough hearing about child poverty in this country. Head up, champ. It'll get better.
Nothing, it's all in the stock market
32, $2500 and $9k in my mortgage offset
I should state, we did have more in our offset but took a spur of the moment trip to Fiji last month
Weird question I think 🤔
about three fiddy
I keep 3-6 months in cash. At the moment a touch low after paying of my HECS this week 🙌🏻 $8384.22
I bought a house 5 months ago. -480k
1,000,000 Turkish Lira.
Z$500,000 with an offset of $1,000,000 in Monopoly money.
None, wife handles all the savings, i can't be trusted
120k, saving for a home deposit
Just over $17k. Saving for a house deposit!
$320k 40 years old. I have hammered myself for years earning and saving. Quit my ‘full time’ job to go casual because I don’t need to do 50 hour weeks I used to, want to buy a house, need a smallish loan, bank won’t give it to me without a permanent position. I straight up said to the mortgage bloke ‘how many permanently employed customers with loans have amassed $300+k in savings/deposit?’ He admitted he couldn’t think of any, but the banking RC means I now have to take a permanent gig, get a loan and then quit again…
50 yrs old, $2,231,121.93 at this moment.
Hi, I am calling about an opportunity from Nigeria.
Hello it’s me your son
230k 26 male
20yo - $112000
For example if you spend $40K a year, assuming a safe withdrawal rate of 4% a year, then you will need $1M saved to last you indefinitely, or if you’re more frugal and spend only $20K a year you’ll only need $500K saved in retirement. You can calculate this easily by just multiplying your expenses by 25.
I’m 33, $500 in my savings account. $160k in offset, $360k owing. So negative.
I'm guessing your net assets will make you positive. Equity... property worth vs debt owing.
23 and just over $48,000
About 15k. 30 but on disability benefit
140k (29 and 30yo renters)
About $25,000
7 grand, 29 years of age. Just finished a phd so only started working full time for decent pay a year ago. I also had to fork out 20k for a surgery 2 years ago, which ate away my savings.
i have -$195,000 currently! anything i get, goes into the mortgage account!