'Our US trip will cost 12,000 euros'

‘Our US trip will cost 12,000 euros’

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.

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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.

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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’

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Milo’s savings account: ‘Our holiday to America cost €12,000’

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