How much money is in your savings account? We ask a different Dutchman every week. Because although we talk more and more about money, we never talk about exactly how much we earn and save. This week: 27-year-old Melanie, who manages to save after years of financial bumps.
Profession: They are working hard
Net income: 2108.63 and +/- 300 euros
Living situation: rented house with partner
Melanie’s Savings Account
Melanie has stopped her university studies after years and has taken a different path. She is now a mammary laboratory assistant in training. As a mammary laboratory technician, you take X-rays of breasts to detect breast cancer at an early stage. She works, but learns at the same time. In addition, she works at the butcher’s at the weekend, so that her income is just a bit more.
What’s in your savings account?
“On my own savings account now 1675 euros. I also have a spare jar with 65 euros in it. And then I have a so-called holiday jar that contains 181 euros.
Saving is going a lot better than before. I also have a joint savings account and checking account with my boyfriend. He earns a lot more than I do. Each month we both transfer an amount. We have discussed these amounts at length and at length. At first I didn’t want to pay less than he did, which would mean that I would have less left over for myself. For me that was no problem. My friend was not comfortable with that. He can bear the costs more easily and didn’t think it was fair that he would have a lot more left over.”
How did you manage it in the end?
“I was very stubborn, but I still tacked and he now pays more. He is a good saver and thinks it is important that we save together for the future, in order to possibly buy a house later. Because we both now save a fixed amount, saving becomes easier for me. We have now put all costs together, calculated what we need to cover all fixed costs and know what we can save: together we save 1321 euros per month.
We organized it in such a way that we both have 900 euros left: the rest goes to the joint savings and current account. So I transfer about 1500 euros to the accounts we share. We pay practically everything from the joint current account: groceries, cars, rent, internet, subscriptions.”
“Because I pay less to the joint account, I sometimes feel guilty if I buy things that we don’t necessarily need. If I feel like stocking up on an extensive snack platter, I often do so with the money I have left over. My boyfriend doesn’t think it’s necessary at all, but I find it more pleasant myself.
I am happy with this construction. Everything is clear now. It used to be different for me in the past. I was always stressed about which bill was coming, or which Tikkie I hadn’t paid yet. There was absolutely no overview. It was a disaster, especially in my student days. Despite having enough money, it always felt like I had no money. Now that I know that everything will work out, it gives me a lot of peace.”
What contributed to that peace?
“The overview, but also the fact that I spend less. How I handled my money not only stressed myself, but it also made my partner restless. We have tried different constructions, but the way we approach it now works best. There are now five accounts: the joint savings and current account and we both have a personal savings and current account.”
“I found it very exciting to throw all the finances on the table. I always stuck my head in the sand. I spent a lot and always felt like I didn’t have enough money. It was difficult for me to discuss this in order to find a new way together. During those conversations and discussions, I wanted to walk away. It makes a difference that I now earn a lot more in terms of income than when I was still a full-time student. We started this construction in December and it works very well for me. Since then I finally manage to save for myself.”
How did you handle money before?
“Everything that came in went straight into a savings account. In practice, I needed that money to live on. Then I had to pay something again that I had overlooked and then I could have a stomach ache for a week. At the end of that month, the piggy bank was always empty. Even if there were no more unexpected expenses, I still spent the money on new clothes, make-up or in the pub. Because I never succeeded in saving before, I was very afraid that I would never be able to handle money. With the overview I now have, that has changed.”
How are you feeling now, financially?
“Much better. Of the 900 euros that I keep myself, I save another 500 euros and I have the rest to do fun things. It saves endless stress. Having a jar on hand for when I don’t come out once, gives peace of mind. I also lost the fear that I don’t have enough money.”
What about debts?
“My student debt is 65,000 euros. Sometimes I could be jealous of friends whose parents paid for the student room and tuition fees. My parents didn’t have that money. For now I’m still in my grace period. Until I start paying off, I mainly want to save and as soon as I have to pay off I will of course do that. I tried for a long time to finish university studies, but I constantly ran into the same obstacles. It didn’t make me happy at all, but I didn’t want to admit it. Quitting didn’t feel like an option. In the end I took the plunge – which was very miserable. I went to talk to a psychologist and honestly looked at what I did want. Now I am very happy with the choice to become a mammary laboratory technician and my studies are paid for by the employer.”
What is your best financial tip?
“It is difficult to go up to someone and say: I cannot handle money. But that help has been very important to me. I just couldn’t do it myself. Try to find someone with whom you dare to be honest about your relationship with money. It’s okay if you have to learn things and don’t mind getting help with that either. It is a bit of a sour apple and it may not all work out in one day, but it gives peace in the end.”
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Melanie’s savings account (27): ‘We save 1321 euros per month’