How much money is in your savings account? We ask a different Dutchman every week. Because even though we talk more and more about money, we never talk about exactly how much we earn and save. This week: Sera, 24, who moved to the Netherlands from Indonesia six years ago to study here.
Profession: Entry Level IT job
Net income: 2100 euros
Living situation: rented house with roommate
Sera .s Savings Account
Tell me how much is in your savings account?
“I have only just started working, moved to an expensive rental house (I pay 1250 euros in rent) and also send my parents around 200 to 400 euros a month. My savings therefore consist of a modest 1000 euros.
I’m glad I put something aside in an emergency, like a broken bike, or when my family needs more money. But it is definitely less savings than I would like. “
How much do you save per month?
“With my current salary, I just save what I can. This varies from 100 to 400 euros. I really need to get used to the fact that I now work full time. I’ve spent too much money eating out and ordering food just because I have the money now. This ‘lifestyle inflation’ is real and I think people my age tend to forget it.
Soon I will start at my new job where I will earn 3000 euros net. Then I would like to save more than 1000 euros a month. My goal is to save 20,000 euros as an emergency fund and invest the rest.
I do not really have a strategy for this, I just put the money aside and do not look at it. “
Do you ever withdraw money from your savings account?
“Yes, I’m not in a hurry to reach my savings goal. It is now more important for me to send money to my family and enjoy life after living frugally as a student.
Sometimes I transfer small amounts like 50 euros from my savings account to enjoy tasty savings ribs. Now I start cooking more and more myself. So hopefully I will transfer less from my savings account soon, apart from real emergencies.
Once I have a comfortable buffer, I could use some of my savings on airline tickets. I have not visited my home country for three years and have not had a real holiday since I came here. ”
Why did you move to Holland?
“I moved here in 2016 to take a university degree. Fortunately, I received a scholarship of 3300 euros a year. My parents paid the other 4,500 a year and added about 8,000 a year to the cost of living. I cost my parents a lot of money.”
Do you consider yourself to be good for money?
“I budget and keep a close eye on my bank account, so there are no recurring payments that I do not know about. That’s why I think I’m pretty good at money.
What I’m still trying to solve is my impulsive consumption. Especially when I work in the IT world, there is always the temptation to buy the latest technology products. In addition, I’m on the internet all the time, and if you pay a little more attention, you’ll notice that every site is trying to sell you something. “
What would you like to change about your financial situation?
“With the circumstances in the Netherlands now, I have to make more money. I will start my new job soon, so it will be a good start.
I look forward to moving and living alone in a small house or a quiet apartment, but it turns out to be very difficult. While my new salary will qualify me for the apartments I want, I would still have to spend almost 50 percent of my net salary on rent.
I can afford it, but I do not know if I will. Maybe I’ll stay with a roommate until I can buy a house with my boyfriend, then we’ll see. “
What is your best financial tip?
“Start investing as early as possible. I came from a middle-class family in a third world country, but my parents were able to send me to a very expensive country to study because they were smart with their investments.
Now I am also a part of their investment and can send them enough money to live on. Many of my friends do not understand why I send them money, but I would not have been here without their help. ”
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You can find all articles from this series here. You can find other useful articles on money and career here.
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