Babbles Budget plan 2023 - Maternity leave in Ireland - Short Term Low Income - living off savings.
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- Опубликовано: 30 сен 2024
- Hi everybody! welcome to my first budgeting video! Its very nerve wracking putting our expenses out there but I thought it would be interesting and valuable for people to compare their costs with ours. We all should be more financially aware because sticking our head in the sand isnt going to help anyone.
I hope this is interesting to someone!
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This was very interesting and appreciated. I was wondering though, how did you come up with what was left after you took out the first expenses (the set that include your mortgage). It seems like the figure would be closer to $2700 (4140-1415). No matter what the figure is, budgeting is hard and I need to get better at it!
Really enjoyed this and I’m going to have to start budgeting in the new year once I’m in the house. I will have a look at what family/friend discounts we have on plans in Vodafone if that is any use to you. I’m not sure what the signal is like with them out your way. x
Three isn’t great. I think eir is the best signal but they’re terrible customer service has me hesitating 😅
We had a 30 year mortgage at 8%. We paid extra by rounding up maybe $15. sometimes more. We paid it off by 7 years early. Which is a crazy amount of money.
My parents started off at 15% in the early 90’s.
This is great. In the States, I don’t know where you get six months of maternity leave. When I was that age, women were only allowed six weeks. Which is not enough. Your budget breakdown is amazing. I don’t drink anything other than water most of the time but that is expensive if you can’t drink tap water (or coffee) which has fluoride in it. I agree that food in the USA is terribly expensive right now. If there were any places that had gluten free wheat free options in this small town, it would probably be cheaper to eat takeout. I actually buy some things on Amazon because they are less in bulk quantities.
6 months is actually quite low compared to other European states. The U.K. gets 9 months.
As for the water thing, we moved to a new property where we have well water and I’ve had such problems with my teeth! Always sore & sensitive. Maybe it’s the lack of fluoride! Interesting!
US based viewer here, Can you explain why ppl need to buy oil in Ireland? Is like oil for your electricity? Or oil for your fireplace? Or oil for the car?
So our heating is based on a kerosene boiler system. It’s home heating oil. It supplies our radiators and also heats our hot water. We turn on the boiler for two hours in the morning and two hours in the evening as it’s so cold right now.
I’m scared to look at my budget. I know I’m doing ok and I have some savings but it’s not something I was tought and speaking about money is so taboo somehow. I would really need to speak to a financial advisor to better plan for my future.
About food, do you do a meal plan? This really helps me. I don’t mind eating leftovers all week so that’s a bonus 😉 The day before I go food shopping I check what I have left that needs using up and what I have in stock and what is on offer that week and then plan for the week. I’ve also built a database for recipes so I can search by ingredients or number of servings or general inspiration.
This is a great idea. I have been trying to make meals plans and it defo helps! But I’m finding when I get stuff from the olio app I need to use it quicker so my plan needs to change.
As for budgeting I defo reccomend it. I have a financial planner and he really helped us plan for this coming fre lean months. He’s even said that we are in a much better position than a lot of others. There’s so much shame around money. But there’s no need. It’s just a tool.
I have been budgeting since I first started work. My mum used to do it and taught my sister and myself. She made a lot of our clothes went to jumble sales and family passed clothes round for the children. The latest budget I came across is for my printer. Its a HP printer and I pay monthly for my ink. The cartridges are bigger than the ones in the shop and last longer. Any pages not printed roll over to the next month. Worth a look into . Good to see the difference between Ireland and England
For the printer, I actually invested in a laser printer. It’s a more expensive investment up front and only prints black & white but the toner costs 80 euro every three years or so!
Brilliant video Grace ! I think more like that are needed.I certainly do not understant why we are not taught in school how to managa a budget as it is such a valuable thing to know! when my kids were teens I gave one of them the risponsability of managing our family budget for 3 months , they all did it in time and learned valuable lessons from it. they are all very good with their money and I like to think that their education had something to do with it! ;-). Well done! you are on top of it! xxx
Very good! That’s a great way to teach kids about money! I bet they weren’t asking for random stuff after that!
I found this very interesting. I have never budgeted as I grew up comfortable, inherited money from a young age, and also hoard money like nobody's business as savings. Maternity pay for self-employed people is shocking in England so I'll have to look into budgeting in the future. Thank you for sharing x
You get 250 euro a week for 26 weeks if you are self employed when pregnant here. It’s no way enough.
@GraceTheBabbler it's between £27 and £156.66 a week for 39 weeks, depending how much NI you've contributed. It's insulting.
This was so interesting. Brought me back to my grad school days when I had to budget down to the last penny and eat a lot of beans and pasta. Interesting to see the differences in what goes in an Irish budget vs an American budget. For example, we have to pay for personal liability, homeowners, and car insurance, don’t have a tv tax, might have a copay for the doctor if we have health insurance and the same for prescriptions, gas 🚗 prices are thru the roof, as are groceries, for some reason. I really enjoyed learning how you budget.
I’ve been eating beans & pasta for years 😂
What’s involved in personal liability insurance?
It’s to cover you in case someone is hurt on your property, for example, and tries to sue you. Very American concept, I’m afraid. ☹️
Thanks a mill for making this video… Such a great insight into maternity leave finances in Ireland which is something that’s definitely not talked about enough!
Tesco mobile might be a good shout for reducing the phone bill, I have the SIM only deal for €15 a month and as far as I know they use the 3 network.
Oh that’s a great idea!
Yeah I was actually so nervous and confused about the actual finances of maternity in ireland. I wish someone had explained it to me.
Great video. Is your budget for you only, or is it a total budget for both you and James? If it’s a total budget, everything is just very cheap compared to the costs here in Denmark.
Yes that it our total budget for both me and James. Denmark is much more expensive than ireland. I can confirm that.
I just looked it up. Consumer goods are way cheaper but rent in ireland is 45% higher than in Denmark! We just got a mortgage so we are lucky.
www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Denmark&country2=Ireland
This site is fascinating!
Thanks for your transparency. It IS interesting. And I'm really struck by how much more expensive it is to live in the U.S., especially in an urban / semi-urban setting. Costs of things are at leasts 1.5-2x MORE than what you're paying. Mortgages, for example, could easily easily be double what you're paying. Many pay a lot more. And yes, we have health insurance payments-- I will be paying $600 per month in health insurance next year; and that's our "affordable care act" (aka "Obamacare")!! I don't know how most people afford it. AND that's really only "catastrophic" -- I still have to pay out of pocket for most of my regular stuff. And we are paying probably $750/month in groceries (includes booze). But I"m inspire by you doing this to revisit our budget in this way. Doubt I'll publish it on RUclips, though. :-)
We could have gone for a much more expensive house. But we decided to go with something affordable and about 30 minutes away from the city centre.
Our health insurance was €1000 for both me and James and our baby is free on it until she is two
As for groceries, I’ve recently had a look into comparisons and yeah. Your food expenses are insane!
Great video Grace!! Times are getting crazy so this will be helpful!! Dishwashers use less water than washing by hand, so saving on water would be helpful!
I know but we need to get a carpenter to fit it and it’s a big rigmarole.
Good for you Grace, hope it all works out according to plan.
I hope so too!