approx. 4500€ net per month?
Hello, my boyfriend and I would like to move in together soon. We've both finished our studies and our combined net income would be around €4,500 per month. With two children, we'd be able to earn around €5,000 in the future. We both prefer a less urban lifestyle, more like a rural area. However, since we have no experience at all, we want to know if we can live comfortably with this money, even with children in the future. Sure, the house should be nice, but it shouldn't be a luxury home or anything like that.
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Could be tight. Depending on whether you want to buy or rent a house.
Have you ever considered what expenses you will have and whether the 5,000 euros will be enough at all?
Remember that you also have to pay much less money if an earner or both fail, e.g. due to an accident or due to an inability to work. Therefore, you cannot expect that you will be able to get the 5,000 euros a month on your head. There must also be self-sufficiency, etc.
For the time being, we would be renting because we would have to invest in equity.
Cars would no longer fall into weight as they are present. Otherwise, only usual, such as fixed costs,food, Wlan, possible streaming services, mobile phone contracts. (These are only about 10-15€ pp.)
Oh, and insurance of cars.
Still close. Because at some point you must also buy new cars, etc.
Make a long-term financial plan over the next 20 years. Then you seem to see yourself that you should save at least 2000 euros per month for retirement and for other things like car, etc.
Of course, we do not want to get everything on our head, but also have the opportunity to put a buffer on our side. (Also here: not much, but so that a sum can accumulate after a time.)
A 30-year-old should have already saved 53,000 euros alone for retirement.
https://www.focus.de/finanzen/altersvorsorge/mit-30-40-50-und-60-weckruf-fuer-vorsorge-aufklappen-so-viel-sollten-sie-mit-30-40-oder-50-read-as-all-as-all-be-all-be-all-be-all-be-all-be-all-be-be-all-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-be-
Children cost about 100,000 euros per nose up to the age of 18. That is why you should be able to finance 200,000 euros from the 5,000 euros over the next 18 years. In addition, you should have saved up to 30 together at least 106,000 euros so that it is sufficient for the pension.
But are 2000€/month not a lot? I mean, 500-700 would be enough. I don’t know what to do with 24000€ a year of savings. If, for example, 7200€ are not used up in the year, this will continue to grow.
The poverty line for a couple with 2 children is about EUR 2,500.
So you need at least the double to get over the rounds.
And this will be pretty close with 5,000 euros.
Keywords Children: How much does your wife deserve? If only 65% of parental allowances remain over, it may see financially. quite different from now on. Or if, as usual, it does not work at all for a time and then only part time. In addition to the lower income, you also have to consider pension provision for them as a wide cost point.
It is difficult to say that village next to Munich is financially of something quite different than village in no place in East Germany far from any large areas of cities. Just when it comes to house prices.
It is important that you plan enough financial buffers and reserves, especially in villages a broken car has to be repaired directly or bought a new one, as k
Your income is enough to provide yourself with it properly, but all too great wishes are not possible in parallel for the first time, except for it increases again the next few years. So if you want a house, for example, what will be a lot of money at rate and reserves for reperatures, expensive cars and expensive vacations are then possibly no longer possible in parallel. You have to look and set priorities, which is more important to you, especially when there are two children who often cost much more than children.
Do you have to start with the children or are they already on the way? If no, I wouldn’t start counting with children. If you only want to start with children in 5 or 10 years, your financial situation can look completely different and you may have 5500 or 6000 or…
There are raises. Then you can calculate when the topic becomes relevant.
And twins are now rare. So, after Baby 1, you can determine whether your finances are enough for Baby 2.
See that you find a living situation that allows you to save. With reserves one catches a lot on e.g. expensive purchases/renovations. the child.
What is possible for a house also depends on whether we talk about East German Pampa or Munich surrounding area. Rent as well as purchase can be dramatically different.
With the money, life is easily possible without having to worry about poverty. Great luxury is rarely in it, but not entirely excluded
It depends.
You want to get away from the big city, there’s the question whether you end up in a small town or really move into a village with less than 10 thousand inhabitants. Then, of course, you have to have work there to get solid income. And then, depending on the location, you can watch the rental prices. Buying houses is really expensive. Maybe a rental apartment or a small house. Theoretically, a 4 room apartment is enough and it doesn’t have to be too big. If really a small village is the rental prices are also a bit cheaper than in your current city(depending on how the prices are there). You’ll have to look with that. I’d say, depending on how you live, that’s good at 5000. However, you have to save enough in any case, both if something happens, job or something, as well as for the future of children. You must also consider that when you buy a house and one of you loses the job, you can’t pay the loan and then fly out of the house. In addition, you have to Calculate that the woman has to be in pregnancy protection and, depending on how long she is in there, there is some time less pay.
Best regards
Yeah, that can work.
But a house SIG becomes more difficult without equity. It’s possible to rent.
What do you want to know? Which house should you buy? I can’t follow you.
No, whether a reasonable life is possible with the overall salary, or whether we should approach our home search a little “more favourably” with consideration of possible costs (judgment, maybe animals..).
Yes, the remuneration should be able to guarantee you a normal medium-sized life, provided you are not incapable of working or are terminated.
In the case of children, there would be a lot of savings in clothing and shoes if you were to leave it free of charge by acquaintances. The most expensive in children are the diapers.
Pets and holidays would also be possible annually.
The house counts you in rats. The price category is not so important because the duration of the loan is only extended by zig years, the more expensive a house. The company Scanhaus Marlow offers many savings potential.