Is it still possible for the middle class in Germany to build up assets?

1Semana

@HoldTheMike There is nothing to add to your answer 👍🏻

I can only encourage you to go in the direction of family. On the one hand it's a great fulfillment and on the other hand you get something back that can't be expressed in money.

But it's really hard. I won't deny that.

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Thomas@Thomas_1963

1Semana

@HoldTheMike I always wanted children of my own. And my two sons are the best gift I have ever received in my life.

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Ein(Invest)Horn@Herr-Horn

1Semana

@Thomas_1963 how beautiful 🙏

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TYo@kroenchenTrade

1Semana

@HoldTheMike if the salary increases were at least really useful... that's frustrating too. As a normal employee without having salaries of 90-130k that some have now, you are simply trapped in the spiral of all the costs you mentioned.

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1Semana

@HoldTheMike My wife and I feel the same way. We've had a son since August, are super happy with him and have an income that is top in MV. Now the apartment is slowly becoming too small, houses are only affordable in the surrounding area without a direct connection to the city. Renting in the city is not worth it, then you can pay off a loan straight away. We would still find a 4-room apartment in a cooperative and the rents there are reasonable, but in the long term we need a 5-room apartment (a study and room for planned child no. 2). These are super rare and therefore extremely expensive. It would be easier to have just one child, concentrate our financial resources on the child and save on other purchases such as larger apartments or a bigger house.

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Stephan K.@StrahlemannLP

1Semana

Moin.

I would say yes. When I look at my family history: Definitely, and I would also say that it was harder in the past: I haven't completely worked through the history yet, but when I look at the interest rates for home loans and compare them with what is paid today, it's a mighty pile of money that the banks have taken for themselves and compared to that, the costs today are...almost low.

For example, a turnkey house that cost 250,000DM including the plot of land in 1964 is not that far removed from what modern houses cost today. Yes, back then you could build cheaply because nobody cared if you burned 10,000 liters of oil for 100m² of space. My grandpa didn't care about the business side of things and preferred to go the extra mile for "technology from high-rise construction" so that the operating costs for this house were as low as possible and where he could help (he had two left hands when it came to assembly), he and my grandma tackled it.

You only had access to the capital market via local banks - if they offered it - or via insurance companies, so that Allianz, for example, thankfully pocketed 300DM every month and then did something with it. Once a year it was then paid out into my grandfather's securities account and when he died far too early, a considerable fortune was paid out.

Did they have a lot of vacations? Sure, but then on the balcony. They only traveled internationally a handful of times in over 25 years of marriage.
Did he have lots of opportunities to spend money? Yes, but it was much harder. Nowadays, it's so easy to sink huge amounts of money into things you don't need than it used to be.

Did he work himself to death? Yes, because unfortunately it was fashionable at the time and nobody wanted to hear about work-life balance and, as I said, it took both my father and my grandfather out of the world far too early.

So is it generally more difficult these days? I would say no. However, the challenges have changed because that's the way life is. From a distance and superficially, your situation is therefore exhausting, but not unmanageable.

And I personally call for an opinion: Anyone who wants to create something fortunately has the chance to do so in Germany or in our western culture. Is it easy? No...nobody ever told you that and to be honest, it's a good thing that it is.

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RenaTess@RenaTess

1Semana

@StrahlemannLP I mean mortgage rates were 8% and higher in the 70s and 80s

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Stephan K.@StrahlemannLP

1Semana

@RenaTess That can be the case if you're lucky. The mortgage rates I saw were around 20% in 1964 and around 17% in 1978.

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1Semana

I don't know how old you are. In my mid-40s, I'd say
1) The tax burden is far too high and as an employee you can't get rich but you can build something up.
2) Anyone who has ever traveled the world as a backpacker (once a year in Malle/Asia is not meant by this) will also get out of their bubble and away from the typical German doom and gloom. Most people are worse off and have less security + health.

3) If you want to be financially free, in the vast majority of cases this is only possible by being an entrepreneur yourself.

All That Said

What's the point of all this saving if you're just frugal and don't allow yourself anything? Old and frail, a paid-off house and 500-1 million in assets won't get you anywhere in my opinion.

I just accept the taxes and optimize the system as much as possible. Really deduct everything you can from your taxes and take subsidies with you.

I only have a 10% savings rate (see my pin post) and it's primarily about the family being well off and children being prepared for life.

Everyone as they like. But getting out of your bubble helps you not to get worked up about this stuff.

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1Semana

@Papiertiger yes, those are the struggles you have. And that's what I meant. I - from my point of view - achieve a lot, but as an employee with a house and family, it's actually impossible to achieve prosperity.
I'm just over 40 😅

Thanks for your post. There's a lot of truth in it.

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1Semana

@trade_commander_2498 Based on your choice of words in all your posts, there is a lot of bitterness, anger and sometimes unfair thinking in there.

Look at it, you work 5-6 months a year for the streets, a bureaucratic system that is too inefficient but at least still functions, a health system (where you are not immediately 30-60k / bankrupt with a knee operation), cheap daycare/school/studies and quite good security and much more.

OT:
At some point this leads to radical views, which are often only part of the truth, regardless of whether they are completely left, center or right.

I have a migration background and apart from the organic Germans, migrants are in the same mood and drift off because of all the social media stuff, among other things.

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Lockerflockig@Lockerflockig

1Semana

@Papiertiger yes and no. Bitterness yes because I am convinced that I work hard and perform well. I limit myself and my family because I want to build something. I save money that I have paid tax on through my salary and from the income I pay tax again and buy something from the remaining income, such as food or a bag, for example, and pay VAT. So at some point it's just fine.

It's not unfair, it's just out of kilter. It's just not made easy to build up something halfway sensible.

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@trade_commander_2498 Statistically speaking, our lives get better and better over the years. I'm 30 and my grandparents always shake their heads when they hear someone young talk about how little you earn and how little money you seem to have.
Some people back then only worked for lunch and money to live on... yes, it's an individual story. But if you are employed and don't become self-employed and really take responsibility for your financial history, I think you should realize that there are limits somewhere.
And apart from that... if your family is doing well, you can go on vacation, you can save something for your pension, I would say that you have everything you need to live.
I would rather think about my expectations of life.
If it's financial freedom or early retirement at 50, then something has to be done about it. That can also be at the expense of your family... and then it's also questionable whether it really is.
And another point that is important to me, how is our social system supposed to work if everyone only wants to work for 20 to a maximum of 25 years and then opt out, or how do you imagine your financial freedom?
I hope this is factual... I mean no offense. I often have discussions like this with younger people who want a good life with 4 days of work... but in my opinion the calculation just doesn't work out...

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@Lockerflockig GapMinder Habs Rosling watch, actually shows very well how everyone is doing better overall...

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❤️DIST-LOVE@DISTLOVE

1Semana

Of course you can still "build up" assets in Germany, but only very slowly and obstacles are constantly being put in your way. If you have the opportunity and the money, you should seriously consider leaving Germany.

I currently have a savings rate of around 60% and live on around €500 a month (not including rent). I completely understand your criticism and feel the same way. I wasn't born with a golden spoon, I'm a migrant and we came to Germany with a single suitcase without claiming a single day of welfare. So I really started from scratch and tried to build a life for myself step by step.

I have tax arrears every year, often several thousand euros, simply because you make more than the average person. In Germany, it feels like you're being punished for this instead of being supported.

It basically works well for me, I don't feel like I have to do without anything big. But when I see how much I would have left over in other countries, I honestly feel sick. Especially as Germany is no longer safe, the services and infrastructure are getting worse every year, and I have no hope that anything will change for the better in the next ten years.

As I don't have any family here, I'm planning to emigrate, just like hundreds of thousands do every year. And quite honestly, I understand every single one of them.

Some may say that this is complaining on a high level, but I see it completely differently. After all, money doesn't just fall at your feet. You're constantly dealing with the issue, cutting out unnecessary spending wherever you can, which many others simply don't do.

You optimize, look for cheaper insurance, don't go on vacation every year and don't go out drinking or to a restaurant every weekend.
Anyone who puts up with all of this in order to build something for themselves and is then told that they are just putting themselves in line or that it is their own fault is simply disrespectful and unrealistic.

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1Semana

@DISTLOVE well said. Yes, I admit that I don't like the comments "that's complaining at a high level". Like you, I am a child of migrants. I didn't have any start-up capital and won't inherit a family home. My wife as well. I've been working since I was 16 and try to work hard on myself. But it's made so difficult here. At some point you just run out of energy.

I wish you from the bottom of my heart that you live the life you want. May your hard work and attitude help you with everything you have planned 🤝👍🏻

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Stefan@Da_Fischi

1Semana

Perhaps you will see the whole thing a little more positively if you compare yourself with southern Europe. Here in Spain, for example, there is
- no annual tax-free allowance
- no holding period for gold or BTC (always taxed)
- no child benefit
- no parental allowance
- no possibility of a gift every 10 years...

Many people here don't manage to move out financially until they are 30, and owning their own property is often just a dream because the down payment on the mortgage is already a problem.

I have 3 children myself and it's really not easy, but everyone here is actually quite envious of how good things are in Germany, at least financially.

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Sansebastian@Sansebastian

1Semana

@Da_Fischi A quick look at childcare in Switzerland: 2-3000 CHF per month, for example, even if you earn more/ have more net income. In percentage terms, children are significantly more expensive there for everything including studies etc.

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Stefan@Da_Fischi

1Semana

@Papiertiger That's really tough. So it's no wonder why there are so many German cross-border commuters.

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Kai@Dividenden-Sammler

1Semana

Is there actually still a middle class in Germany or do we still have an upper and lower class?

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1Semana

We are a family of three. The little one is 2 years old and my wife is at home. We live in rented accommodation. We can save around €300-400 a month + the child benefit is invested. We've already been on vacation three times this year and want to go to the mountains again in December. We're actually doing well for the fact that my wife is still at home.

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1Semana

@Sansebastian I'm happy for you. You probably earn well. 👍🏻
My wife isn't working at the moment either but would like to start part-time.

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David@Redfox77

1Semana

Do I understand correctly that you can set aside 35-40% of your income each month?

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yieldhunter@randomdude

1Semana

@Redfox77 That's how he wrote it. Whining at a high level 🤷🏻‍♂️

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AI sagt@GoDividend

1Semana

@randomdude or: once in the bubbles, it becomes difficult

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1Semana

@Redfox77 It was clear that this would happen. ALSO:
I wrote that we are very frugal. I've never bought a cocktail anywhere in my life. The last time I treated myself to something small was many months or years ago.
Furthermore: do you know how often you have to draw on your reserves as a family? Braces here, glasses there, a birthday here, shoes there.

Yes, that can be whining on a high level, as @randomdude writes. I don't see it that way. I didn't get a cent as a present and I won't inherit a cent either. But I wrote that I actually want to achieve something for myself and my family. How can I do that without being forced to save. But it hurts when you're constantly being taxed.

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yieldhunter@randomdude

1Semana

@trade_commander_2498 You asked for honest reactions. I have a family myself and know what you are describing.
If you are suffering so much from taxes: What is the alternative? Would you rather pay high school fees (because childless people don't contribute to their funding) and road tolls on every corner?
Sure, there are alternatives to everything. I, too, can think of lots of government spending that I think could be eliminated. But others think they are right. In a democracy, there is a hard struggle every day to decide which way is the right one.
Overall, I think that western-style industrialized countries organize the coexistence of people relatively efficiently and at a high level of prosperity. If you have had these doubts for 2-3 years, the main question would be what has changed for you. The tax rates have remained the same.

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David@Redfox77

1Semana

@trade_commander_2498 What specifically do you want to achieve for your family?

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1Semana

@randomdude fits already. Thanks for the answer.

My point is that it is becoming more difficult to build up assets - perhaps it just feels that way. I haven't inherited anything and nothing will come of it. I don't want to be on the state's back, so I have to do it myself. But if everything you own is taxed several times over, then there are no incentives or opportunities to put in even more effort.
Increasing the tax-free savings allowance alone would be an important step.

I'm also concerned that the service for what I pay is getting less and less and worse. The schools? Horrible. The infrastructure? The same.
And that has changed. You pay and pay, but the value is not there.

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Michael@Happysurfer

1Semana

Are you really serious? With a house and a child, you put away 40 to 50% of your salary to save and moan that you're getting nowhere? If I didn't know any better, I'd think it was April 1st.
Very well trolled

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1Semana

@Redfox77 simply to build up more stable assets. To do this, however, I also need a little more net from gross. Both in terms of salary and income, for example.

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1Semana

@Happysurfer So, where do I start:

1.) Yes, I am serious. And very serious. Why? Why am I saving 30-40%? Because I do without everything that others probably treat themselves to all the time.
New clothes, indulgence, technical innovations, Netflix subscriptions, eating out, going for a drink. It just doesn't exist for me, or hardly ever.
I've never treated myself to a cocktail or a glass of wine in a restaurant. I bought my last pair of trousers 2 or 3 years ago. 25€ trousers, mind you.

2) I work hard. I didn't say that I don't earn much or that I'm lazy. BUT the fact that I work so hard should make it easier to build up assets. But if I pay tax on all my income, sometimes several times over, and pay less and less for my taxes, the effect is missing for me.

For me, it no longer fits together.
What an incentive it would be, for example, to increase the tax-free allowance? Many people would take on more personal responsibility.

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Charlyfirpo@Charlyfirpo

1Semana

@Happysurfer I earn approx. 4500€-5000) gross + 500€ child benefit .... The bottom line is that I have approx. 3600€ net at my disposal. My wife does not work.
2adults 2children 2&4years (so far the children are "cheap" due to their age.

We travel through Europe every year for 8-10 weeks with the Womo. Public service, lots of free "little" money😃

Of the 3600€ net go away:
600€ goes towards the condominium (loan)
1000€ goes on living expenses
2000€ remain at least.

Depot meanwhile summarized at approx. 450.000€

We buy what is necessary, everything else is just burdensome consumption!!!!
It works for us, but our system is not compatible with everyone because I have the perfect framework conditions.

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Richard@-Richard-

1Semana

I'm right there with you. I feel the same way. That's why I invested in real estate early on. After a holding period of 10 years, you have the option of selling tax-free. You have to observe the 3 properties in 5 years rule. But you can always withdraw capital tax-free.
You can also save in gold and Bitcoin, which are tax-free. As long as the music is still on here, I'll dance along to the parties. It remains to be seen how long that will last.

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Sansebastian@Sansebastian

1Semana

@-Richard- could you explain the 3 objects in 5 years rule in more detail?

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Richard@-Richard-

1Semana

@Sansebastian you can sell 3 properties within 5 years tax-free. If you sell more, you will be deemed to be trading commercially.

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Sansebastian@Sansebastian

1Semana

@-Richard- thanks for the clarification

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NichtRelevant@NichtRelevant

1Semana

@-Richard- Thanks for the article. Real estate is indeed a very powerful instrument for building wealth. You just have to be prepared to familiarize yourself intensively with the subject so that you don't fall flat on your face.

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Epi@Epi

1Semana

My circumstances are not that different from yours. I have thought about the tax issue prospectively. Maybe you should too, because there are certainly options.

Ex: Gold and BTC tax-free gains after 1 year. Mylife Private Rente profits tax-free until payout with approx. 0.2%pa costs. Wikifolio also tax-free until payout. As an employee, you can also deduct all sorts of things, e.g. business expenses. As a family, there are various benefits. Music school costs, e.g. for the kids, can be paid out of your gross salary.

In Germany, you can also deduct a property that you don't use yourself from your taxes. But I don't have any.

So, of course, things are slowly going downhill in Germany and politicians are making very few sensible decisions. But with hard work and a few tricks, you can maintain your prosperity. And that's something, isn't it?

Addendum: By buying a house, you have of course treated yourself to the biggest wealth killer of all. Many of your financial worries can probably be traced back to this to a greater or lesser extent. I myself deliberately chose not to own a home so that I could be financially free and grow. Ownership tends to be punished in Germany - so it's better to go other ways.

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1Semana

@Epi this comment 👆🏻 TOP
THANKS!

Question: I haven't heard about Wikifolio before. So if I buy the certificates there, such as umbrella, I end up paying taxes on the profit, right?

Gold is also a good idea.

Yes, the house issue is of course special. On the other hand, I also view the topic of renting with a certain amount of uncertainty. But you're right about one thing. It's a wealth killer.

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Divflo@Divflo

1Semana

I agree with you that having children should be promoted more. The current birth rate in Germany of 1.35 speaks volumes and is probably the biggest economic risk at the moment... I have 2 children myself and building up assets is not as easy as I had hoped. But without children, building up assets would not be worthwhile either, because then who do you want to leave it to - the state? :D

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1Semana

@Divflo 💯I agree with you exactly.

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MarTheRadi@marda304

1Semana

Yes, that's how I feel too. I regularly question whether this still makes sense. You go the extra mile. You educate yourself on the side, trying to grow. And then you give up more and more of it for those who simply hold out their hand. And I don't even mean that just in terms of money. In this country, the idea of performance has been reversed. It's called "justice".

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M1099@M1099

1Semana

This is a debate that would go on forever. But I have to add my two cents. I also have three children between 11 and 20. My wife and I have struggled our whole lives. No vacations, no extras. Rent, energy, cars (2 because both have to commute ((Polo, i30))), kindergarten costs back then, food (vegetarian) - it's all expensive + has become a lot more to this day. There were months when you had to decide on the 20th whether to buy oil for the heating or go grocery shopping. And it's all getting worse and worse. As a geriatric nurse and civil servant in the civil service, there is simply nothing left. And there are many more who are much worse off. Then the injustice towards families in general is immense, and that's what nobody wants to see. All these alleged state benefits and aid are just a drop in the ocean. The split (rich/poor) in society is getting bigger and bigger and I don't want to turn against "the rich" or get upset. The fact is, they are increasing their money in the most perfect way and know how to exploit the system. They buy one property after another, rent them out at "normal" prices and fill their pockets more and more. All inner cities are degenerating into AirBnb hells, which unfortunately also belong to them. Just as an example. If you walk through the city and side streets with an open eye, you'll see all the little combination lock key-lockers of the AirBnbs. Then there's the food. The German's favorite illustrative currency is the kebab currency. A Dinki (double income no kid) couple pays 20 euros instead of 10 euros for two kebabs. I now pay 50 euros instead of 25. At the swimming pool I pay 75 euros instead of 30 euros for two entries. Train tickets, bus, clothes. It doesn't matter. Our earned euros are always divided by 5. No, it's not enough. (Why can't you press Enter for a paragraph here?) Anyway. I wish everyone all the luck in the world who starts a family and makes a contribution to the future of our society and our country. There is nothing better than raising children, watching them grow up, laughing and crying with them as they discover the world. But the price is high, damn high, if you don't belong to the top half.

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4sym@m3trica1

1Semana

People, don't complain, stop always voting for the same parties...

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DrWindbeutel@DrWindbeutel

1Semana

Maybe not what you want to hear, but that was exactly my concern when it came to starting a family. That's why I opted for a childless life.
Unfortunately, I'm very much part of a bubble when it comes to families - mom & dad are academics and possibly still have a little starting capital from their parents. At least there it feels as if nobody has to do without anything and the wealth can still be built up. Although I don't think all that glitters is gold. But of course life becomes more difficult as long as real wage losses are the order of the day. And of course you feel it all the more as a family ...

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Keks@Keksbaer

1Semana

My thought would be, do you always have to own a house?
We also considered buying a house at the time, but realized that we would have nothing to live on.
Renting is a very good way to live and you can save a lot for old age.
I think you have to think about whether you want to live now or not pay rent as a pensioner.

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Iudicium@Iudicium

1Semana

@trade_commander_2498 You write your displeasure about taxes in every post. However, this is the reality in every country. If you are so
unhappy with it, you have to build a life somewhere else where you think there are fewer taxes.

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NichtRelevant@NichtRelevant

1Semana

DTA - you've started an avalanche. 😅

Me too. Married, 2 children - 6 and 8 years old. I'm probably a bit older than most parents. I also feel like a lot of money just 'evaporates' when you have a family. Insurance, energy costs, food, clothes, school fees, presents, tax, tax consultancy costs - it feels like everything has become pretty expensive and the money just trickles through. Going out for a little ice cream with coffee and cake, 50 euros for 4 people is gone in an instant. Vacations are similar, although we don't go on vacation very often - because it's also expensive. And I don't earn too badly.

I think building up assets has unfortunately become very laborious and an absolute marathon. But basically it sounds like you're taking the right approach. Owning instead of renting. Saving instead of consumption. Securities instead of a savings account. Keep it up and it will pay off in the long term.

I see owning your own property differently to most people here. I am first and foremost a real estate fanatic and I would (almost) always prefer owning my own apartment or house to renting. Of course, only as big/luxurious as it makes sense. It's completely logical that a villa with a large plot of land, pool and sauna costs disproportionately more and then renting is of course much cheaper. But if you buy what you have been renting in a similar way, it should pay off in the long term.
(I also still find rental properties exciting. But that's another topic in itself, of course).

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asset_sage_389@asset_sage_389

1Semana

Demographic change needs to be financed. This is also an important voter group. Between 2025 and 2039, around 13.4 to 16.5 million people will reach the statutory retirement age. The current 190 billion euros in the current budget for pensions and social security will not be enough for this. The approx. 350 billion in the budget of the statutory health insurance funds will not be enough either. You can choose whatever you want. Every party will have to make up for this. The populists from the AFD and the Left are blaming either foreigners or the rich. But it is our own society, with an average of less than two children per family, that has been responsible for this over the last 30-40 years. As no one will or wants to give up their wealth, you will have to continue to pay more taxes. People no longer want to work (see France) and are getting older and older.....

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risk_taker_2194@risk_taker_2194

Ferid D.@NATO-PARA

Live in the here and now, because real health doesn't come from worrying about yesterday or tomorrow. Children are the most beautiful gift 🥰❤️

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1Semana

Buying a house and raising three children is a luxury. Why does it have to be a house? With the interest rates? Renting is better

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The W.@thewolfofallstreetz

1Semana

Difficult, but not impossible.

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Keks@Dachbodentroll

1Semana

I'm pretty sure that the state doesn't want everyone to be financially free at 50! Who should be made to accept retirement at 70? It always pains me when I see the deductions on my payslip or in my dividends. In my egotistical bubble, I always think to myself, give me the pension contributions, I can invest them better. But that's where it starts... today's pensioners would have to be paid entirely out of taxes, and there will be a considerable number of people who wouldn't invest anything even with 800 euros more... because they can't or don't want to! I live here in Munich, and I've been looking for an apartment before! I've seen flats that were probably already paid off 3 times, with the pink colored tiles from 1970 still hanging on the wall, and the prices were beyond good and evil! And there you are not being ripped off by the state, but by your fellow human beings who still have their tax-saving model running. A bit of depreciation here, the tenant pays the loan, there might even be something left over, and after ten years you can sell it tax-free to the next lucky knight! But you mustn't forget to increase the rent (which will still be in pink). If every normal working person could afford housing, it would automatically become more expensive (supply/demand). I think we have far too many opportunities to spend money today! Grandpa didn't have that in the past, he just built a house and then had to pay off loans for years. When I was younger I still had to wear other people's clothes (not only), and today some 5-year-olds are dressed more expensively than I am! Well, I don't have children, so that's like a blind person talking about color... If you decide to have children nowadays, you have to expect that you will be restricted in many things afterwards, financially/timewise/organizationally etc.! The children are hopefully the result of a desire. I'm just imagining Klaus saying to his wife, "Come on Inge, let's save the German pension system".

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Hodlinvestor@Hodlinvestor

Brandon90@Brandon90

1Semana

Why would the state want citizens to have so much money saved up so that they are financially free ? Who would go to work then? The queen needs her ant workers. It has always been like that. You only get money through work and work is the engine of the economy...

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1Semana

I used to have the same problem.

I simply increased the rents and thus generated more income.

What I'm trying to say is that if you can't find any more potential savings, you should work on the income side.

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Tobi@Tobiwankenobi500

1Semana

I always find it amazing how, with a tax burden of almost 50% plus the highest energy costs in the world etc. etc., you can talk about complaining at a high level :D

I pay taxes so that I get a service from the state - be it infrastructure, security or good education for children + support for families so that someone can eventually pay for the pension / health system (will collapse in the next 5-10 years anyway).

When I talk to colleagues, whether in Asia, the USA or Switzerland - they smile at our approach :D

Of course, I wish you and your family all the best and, above all, a perspective for your children in terms of security and opportunities in the future job market (keyword: deindustrialization).

LG

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Toni M.@INOT

1Semana

If our politicians carry on like this, soon there will be nothing left to build
I have to pay taxes on every shit

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Alex@AlexG82

1Semana

Even without a child, I can understand your thoughts. We are both high earners and could no longer stand the tax burden and conditions in Germany. That's why we left Germany in May. Performance must be worthwhile. The bottom line is that my salary is just another unit for my lifetime and I'm not prepared to give up 42% of it to bear the consequences of our policies.

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devnerd_daddy@devnerd_daddy

1Semana

I'm one of those people with three children and 1.5 jobs as a parent and yes, you can build something up. You just shouldn't live lavishly and worship the god of consumption. It also very much depends on where you live. A lot depends on your housing costs. For me, it's about 15% of our total budget per month, and we're talking about loans here, so the place will soon be ours. We can put about 10% aside, even though my wife is a graduate of the Donald Duck School of Finance. It could be more, but lately I like to buy tools. On the other hand, it saves me a lot of money on renovation costs. DIY has saved us five figures since we bought it.

So no, I'm extremely happy living here and I'm honestly not too worried about it. As soon as my wife is finished and we get to 2.0 salaries, the next house purchase is on the cards. By then, the house we live in will not only be paid off, but also renovated enough to keep running costs low.

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