How Hard Is It To Save?

Postby way_downsouth on Tue 14/Jul/09 11:34am

I was just reading an article on Stuff about how we need to save money/reduce debt to save/help the economy.

I had a look at the comments that said it was just about impossible to save because of cost of living, crappy NZ wages etc.

Personally, I don't have a lot of difficulty with saving/reducing debt (we are working hard at reducing our mortgage at the moment) and while at times I have not saved, I would say my consumption of BBW (booze, bikes and women) was excessive.

Is saving really that hard? Are vorbii able to save and/or reduce debt? I don't get what these people are complaining about.
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Re: How Hard Is It To Save?

Postby Conners on Tue 14/Jul/09 11:37am

way_downsouth wrote:I was just reading an article on Stuff about how we need to save money/reduce debt to save/help the economy.

I had a look at the comments that said it was just about impossible to save because of cost of living, crappy NZ wages etc.

Personally, I don't have a lot of difficulty with saving/reducing debt (we are working hard at reducing our mortgage at the moment) and while at times I have not saved, I would say my consumption of BBW (booze, bikes and women) was excessive.

Is saving really that hard? Are vorbii able to save and/or reduce debt? I don't get what these people are complaining about.

Bloody rich accountants...





:D
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Re: How Hard Is It To Save?

Postby Henry Dorset Case on Tue 14/Jul/09 11:38am

let me guess: you're white, have a job (maybe you and your partner both have jobs) own a property, and have skills.

so it isnt hard for you, but if you were brown and had no job and a bunch of screaming kids it might be different.

relativity is the concept.
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Re: How Hard Is It To Save?

Postby snr_merv on Tue 14/Jul/09 11:38am

Well on half the average wage I've managed to buy 3k worth of bikes and travel to a few concerts and races in the last year, I know someone who gets paid the same as me "can't afford to buy a washing machine" :blink:
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Re: How Hard Is It To Save?

Postby bigJIMMY on Tue 14/Jul/09 11:39am

saving to help the economy?

SPEND PEOPLE SPEND!!!!!
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Re: How Hard Is It To Save?

Postby snr_merv on Tue 14/Jul/09 11:39am

Henry Dorset Case wrote:let me guess: you're white, have a job (maybe you and your partner both have jobs) own a property, and have skills.

so it isnt hard for you, but if you were brown and had no job and a bunch of screaming kids it might be different.

relativity is the concept.

Listen to the sex ed lady, it's a concept :D
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Re: How Hard Is It To Save?

Postby bigJIMMY on Tue 14/Jul/09 11:40am

snr_merv wrote:Well on half the average wage I've managed to buy 3k worth of bikes and travel to a few concerts and races in the last year, I know someone who gets paid the same as me "can't afford to buy a washing machine" :blink:

half the average wage? $18,000 ? how do you live?
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Re: How Hard Is It To Save?

Postby way_downsouth on Tue 14/Jul/09 11:47am

Henry Dorset Case wrote:let me guess: you're white, have a job (maybe you and your partner both have jobs) own a property, and have skills.

so it isnt hard for you, but if you were brown and had no job and a bunch of screaming kids it might be different.

relativity is the concept.


I am white, was at university, with a part time job and was able to save a small amount during that time.

But you are right, I am in a good place now. However, I have worked with people that earn similar amounts to me and after 2-3 years of work were in a worse financial position than they were when they started work.

So, where I was going is, do a large number of New Zealanders struggle with saving regardless of income?
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Re: How Hard Is It To Save?

Postby phunk on Tue 14/Jul/09 11:47am

way_downsouth wrote:So, where I was going is, do a large number of New Zealanders struggle with saving regardless of income?

Yes.
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Re: How Hard Is It To Save?

Postby wgtngrl on Tue 14/Jul/09 11:49am

I'd guess yes - because they spend rather than save. And many spend before they have the money - HP/deferred payments/interest free periods - see it, want it, buy it, pay for it later.
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Re: How Hard Is It To Save?

Postby jo on Tue 14/Jul/09 11:51am

Yes. My spending expands with my income. I have no debt, pay my credit card off in full each month, but still struggle to save.
Trying really hard right now, but sometimes its hard to say no (to activities, trips etc). :huh:
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Re: How Hard Is It To Save?

Postby phunk on Tue 14/Jul/09 11:55am

The reality is that if you dont have a goal to save for there really is no point in saving.
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Re: How Hard Is It To Save?

Postby Spyder on Tue 14/Jul/09 11:56am

phunk wrote:The reality is that if you dont have a goal to save for there really is no point in saving.


Like retirement??
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Re: How Hard Is It To Save?

Postby scatter on Tue 14/Jul/09 11:58am

Spyder wrote:
phunk wrote:The reality is that if you dont have a goal to save for there really is no point in saving.


Like retirement??


I don't think a lot of people actually realise how much they need to have saved to be able to retire :huh:
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Re: How Hard Is It To Save?

Postby jo on Tue 14/Jul/09 11:59am

phunk wrote:The reality is that if you dont have a goal to save for there really is no point in saving.

:D too true! I'm saving hard now cos I want to go on holiday to Canadia. :)
Saving for house deposits (and all that other serious grownup stuff) is boring and completely not motivating. :huh:

I like the idea of saving for retirement, but I tend to go for immediate gratification instead. :paranoid: I was kiwisaver-ing in NZ, and now my company contributes to super here in oz.
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