Money question - how do I best organize myself?

Question

I earn 1500 euro net.
If I substract fixed cost I'm down to 287.15. Already included are some special means of saving/insurance for 210 euro (without the insurance that's probably about 100 euro) as well as gas since I have to commute (this one is not negotiable other than changing my job - which I actually try to do).

Is it possible to live (food, clothes, savings) with about 290 euro a month? I don't have any kids yet, but I want to save a little bit.

Answer 1

I agree with cooking your own food. Try a raw food diet too. All veggies, nothing cooked, etc. Sounds silly, but my gas bill went down about 30% from not using my stove.

As for clothes, look at thrift stores and give aways. It is better to look like a pauper and live like a prince.

Answer 2

Bankrate.com
Saving when you're barely surviving
Monday August 28, 6:00 am ET
Don Taylor
Dear Dr. Don,
I am a husband and father of two young toddlers. My net pay is just enough to scrape by every two weeks. With health insurance premiums well over $400 per month, my net pay is only enough to cover the bills. Every time I set aside money, I end up having to use it all for some unforeseen expenditure, and then some with credit cards (whose balances continue to escalate). Where does one in my situation begin to save?
-- Underfunded Mike

Dear Mike,
Your question is one of the more difficult issues in personal finance. How do you work toward the future when you're having trouble getting through the week?
The key is to keep spending less than income. Easier said than done, but that doesn't mean it doesn't need to be done. Spiraling credit card balances aren't the answer. Credit cards just postpone the problem and have you spending money on finance charges that should be going toward meeting your family's needs.
Differentiate between what's necessary and what's nice in your monthly spending. Cutting out cell phones (or alternatively land lines), cable TV, dinners out, etc. brings down your monthly nut. Bankrate has a budget work sheet that you can download to put together a monthly spending plan. Talk to your employer's personnel department to see if there are ways of reducing the health-care costs while keeping family coverage. Taking advantage of flexible spending accounts to pay for medical costs with pretax dollars is one possible way of accomplishing this goal.
The other side of the equation is to increase income. Take a second job, or a third. Don't think of it as forever, just until you can get the credit card balances down and build a bit of a cash cushion. If your wife doesn't work, perhaps she should. Bankrate's "Should my spouse work, too?" calculator will help with that math.
The answers aren't easy, but you've got to ramp up income, throttle back on spending or both to get to the point where you move past paycheck-to-paycheck living and get to the point where your income is also building toward your family's future.
If you've worked through all this and still can't see a way, it's time to ask for help. Your state government might be able to help with health-care insurance for the children, for example. A Bankrate feature, "Finding help in hard times," has some other ideas, too.
To ask a question of Dr. Don, go to the "Ask the Experts" page, and select one of these topics: "financing a home," "saving & investing" or "money."

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Answer 3

after spending and saving on such like insurance and mutual funds, one must be left with a good balance to lay hands on whenever the need arises. and it is good to cultivate a habit for cutting costs in every way.

Answer 4

start cooking your own meals and forget about clothes... you may able to save 40-50 euros. put them in the bank.