How much money is in your savings account? Every week we ask a different Dutch person. Because even though we talk a lot about money, we don’t talk about how much we earn and how much we save. This week: Milo (31), who keeps money in his savings account for major expenses like a trip to America.
Occupation: Pedagogical staff in childcare and micro-influencers
Net Income: 1,850 euros
Living Situation: Cohabitation and mother of one daughter (3)
Milo’s savings account
Tell me, how much is in your savings account?
“My boyfriend and I have a joint savings account with 43,000 euros. Five years ago we already had a substantial sum of around 50,000 euros, but all of it went towards establishing our new house. For example, we gave up one bedroom to build a huge 15-square-foot bathroom—it even has a whirlpool bath, so it feels like our own spa. We have already built up a good savings balance. The next project is the attic: we want to build two additional bedrooms there.
Do you also have your own savings account?
“Yes, because in addition to my salary, I also earn from my own website and Instagram account where I blog about interior design and lifestyle. I make around 14,500 euros a year and currently have about 17,000 euros in my ‘private’ savings account.
How much do you save per month?
“What’s left after deducting our fixed expenses and fun things – for example, sometimes we go out to dinner more often. But on average, my boyfriend and I transfer a total of 1500 euros per month to our savings account.
Do you regularly withdraw money from your savings account?
“The big expenses are coming, not from the joint. We will soon be traveling the West Coast of the United States for a month. An expensive holiday, we budgeted at 12,000 euros – tickets and rental car alone cost 5000 euros. I sometimes withdraw money from my own savings account, on weekends or for dinner.
Do you consider yourself good with money?
“Yes and no, because I save a lot, but I’m also generous. If I go out to lunch with my friends, I pay – because some friends are less fortunate. Maybe it comes from the past, because we don’t have a lot at home. My mother usually goes to the food bank. Knocked on the door, definitely no vacation budget. Not that I was short of anything, mind you, but I’m very proud of what I’ve accomplished in terms of savings. Maybe that’s why I want to share it with others. Also, a lot of money goes to my daughter’s clothes, which is a hobby that gets out of hand. left
Why?
“My favorite store for children’s clothes is in Schagen, they have beautiful brands. If they post a new collection on Instagram, I want it immediately – a set easily costs 200 euros. I always buy it on sale, but I still spend on average 150 euros per month on children’s clothes. It’s good stuff and the quality is good, why not? I also buy and sell a lot through Vinted. Incidentally, my daughter is more and more independent when it comes to clothes – ha, but I try to let her choose as much as possible from the sets I’ve prepared.
What would you like to change about your financial situation?
“I want to invest more and for that I also followed online course. I recently bought shares of Walt Disney – a company you find reasonably safe and profitable. I haven’t had any real success yet, I’m still in the early stages. But I think it’s a shame to put my savings in the bank – so nothing happens. Coincidentally, my shares went up by 75 euros in three months. It’s a nice bonus and the best thing: I don’t have to do anything for it.”
What’s your best financial tip?
“I like to cook and make shopping lists, so I make a weekly menu every Sunday before I go to the supermarket. As a result you have fewer impulse buys – and that really makes a difference in costs.”
All articles in this series can be found here. Other useful articles on money and career can be found here.
Sarah’s savings account: ‘I save €700 a month, but I don’t need that money’
Did you see the mistake? Mail us. We are grateful to you.
Reply to Article:
Milo’s savings account: ‘Our holiday to America cost €12,000’