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How much money is in your savings account? We ask a different Dutch person that every week. Because although we talk more and more about money, we never talk about exactly how much we earn and save. This week: Fenna (44), who is a personal advisor at the bank.
Profession: personal advisor at a bank
Net income: 2150 euros (joint income +/- 4350 euros)
Living situation: owner-occupied home with husband and child
Fenna’s savings account
How much money is in your savings account?
„118.600 euro.”
What do you think of that amount?
“We are very proud of that. My husband and I have known each other for 20 years and neither of us come from a family where we were well off. We both learned from an early age that you have to work for your money. And that you have to save to be able to realize things. We did that.
We also consciously waited to have children, which allowed us to save almost one full-time salary per month for over ten years.”
In addition to the 118,000 euros, you have a house to buy. How did that work?
“We both already had a house. At some point we both sold our houses and bought a house together. We sold it again ten years ago, with a surplus value of 140,000 euros.”
Ten years ago we sold it again with a surplus value of 140,000 euros.
“That is what our current home came back for. And because the interest rate is a lot lower, we now pay 400 euros less for our home than then.”
Was the sale a financial decision?
“In any case, we wanted to move to a neighborhood where it would be nicer for our child. And the high monthly costs also played a role. Now we are in a much nicer space for less money. Thanks to my work, I had some useful connections. We were very lucky with this house.
Thanks to the lower costs, we both started working four days a week. This gives us more time for each other and with our family. That is also worth a lot.”
How did you divide the piggy bank?
“We have four savings accounts, one of which is a deposit account. Then we have a separate savings account for our son into which we deposit 50 euros every month. This is a closed account on which he receives a 10 percent bonus as soon as he turns 18. That bonus is fixed, as long as we save 600 euros per year in that account.
He can later use that money to study, for example, and to do the things we missed.”
How did you notice as a child that you were not well off at home?
“To be honest, I didn’t notice much of that as a child. Our parents tried very hard to give us everything we needed. And we helped a lot at home.
For example, classmates would go on distant holidays and we would go away for a weekend nearby. That’s how I noticed a difference. At the same time, love also makes up for a lot. And it has ensured that I have been encouraged from an early age to save and earn money.”
Do you use a savings strategy to fill the savings account?
“No actually not. We do talk about money and we pay attention to the groceries. That’s actually the most important thing. And we don’t throw money away, but we do ensure that we continue to do fun things together and go out.
And we always try to go on holiday twice a year. A slightly longer holiday and once for a week.”
How much money do you save per month?
“Usually about 800 euros. Together we receive more than 4,000 euros per month, plus childcare allowance and some child-related budget. We spend about 3,000 to 3,500 euros per month.”
What are the biggest costs for you?
“The mortgage, groceries and after-school care. So we do get part of it back. And insurance.
As for groceries: we have four supermarkets nearby. I always look for offers there. If something is on sale at supermarket A, I am not going to buy it at supermarket B for more money. This way you can save on groceries. And we had solar panels installed two years ago, which also makes a significant difference to the energy bill.”
You are a personal advisor at a bank. To what extent do you take your own advice home with you?
“The most important advice as far as I’m concerned is that you shouldn’t spend more than you have. Don’t go into debt for something that you cannot pay yourself, except of course when it comes to a mortgage for your home.
In my work I see people every day who buy cars and telephones on credit, place orders or things like that. If you don’t pay, things can quickly go horribly wrong.
It is also becoming easier to take on such debt, I see that every day. I would absolutely never take out such a loan.”
What is your best financial tip to others?
“In any case, I would tell you that borrowing money costs money. That could cause a lot of problems in the future. In practice, I also notice this with people who want to take out a mortgage, while there are still other loans outstanding. These are things that the bank really pays attention to and that we also pay attention to.”
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2024-01-01 17:01:07
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