How to stop being overdrawn with a salary above the French median? Can we learn to clean up our finances? Here are some questions we tackle every Thursday in the Settlement section.
Talking about money, in France, is still taboo. However, it is a fascinating subject… and feminist in certain respects! in our section Reckoning, since people of all kinds come to peel their budget, tell us about your relationship with money and your financial organization as a couple or alone. Today, Bravo has agreed to open his accounts for us.
- Profession: economist in public group
- Net salary after deduction at source: €2,300
- Place of residence: an apartment owned by your spouse in Paris
Bravo works as an economist with a permanent contract in a public company. Due to her employer’s special social security system, she is still considered a trainee, but she will get official permanent employee status at the end of the year. In this position, she wins. €2,300 per month. A salary that he recognizes is comfortable, but that is difficult for him to manage:
“Although my salary is a little below what I would receive, at my level of education (bac +8) and for the same job in a private company, I am well paid. Frankly well paid, right? According to the median and even the French average, I am financially comfortable. But in view of my way of life, pass ric-rac, I’d say. »
Indeed, the thirty-year-old announces it from the introduction, she considers herself obsessed with money… In a way that she considers very negative:
” I’m very (very) spendthrift, regularly overdrawn and unable to really face the large planned expenses, much less the unforeseen ones.
So here it is, it’s a bit of my my fault privileged girl. And I’m willing to stretch the article stick to get hit on the forum comments I find are always full of good advice! »
For her, money is a source of terrible anxiety:
“I’m impulsive, so I don’t watch what I spend, and when I manage to take care of myself 10 days in a row, I reward myself by spending. »
She also owns an apartment that she rents out. €770 per month. In total, it manages a budget of €3,070 per month.
The Bravo organization and its partner
Bravo lives with his spouse and to manage their common expenses, they have a joint account that is used for their daily life.
” The joint account is used for purchases, paying outings for two, and purchases of equipment for the apartment.. »
Bravo and his spouse each own an apartment.
“We are both owners. He, from the flat where we live, I, from a flat that I bought in 2020 with a terrace, in a suburb of Paris. I was planning to buy it for a living, but I didn’t understand the signs my boyfriend was giving me at the time. (could have been more explicit, the signal is expensive). Finally, I moved in with him a year later. »
For this apartment that he bought for €160,000, he is paying a loan of €550 per month to which are added various types of charges and taxes:
“I rent this apartment and charge a rent of €770 per month.
I refund my credit of €550, the real estate tax is €63 per month, and I include my tenant’s internet box and electricity in the rent (which cost me a few €50 per month). I also pay income taxes on my property from €110 per month smoothed over the year. Finally, the condominium rights amount to €150 per month, and I pay monthly insurance to €10. »
Once the rent for this property has been collected, the apartment you own costs approximately €165 per month. At the same time, she now lives with her partner in a Parisian apartment:
“We have a nice apartment that we have remodeled on the top floor of a somewhat old building, with a view of the Eiffel Tower and without vis-à-vis. This is the ideal apartment if you take into account that 7 floors without a lift is not a problem. »
If you do not pay the rent to your companion, you place each month €800 in your joint account: half for your share of cost sharing, and half for your roommate’s share of costs and rent. This sum finances your purchases and your common expenses.
“This money is used to buy food, to pay for our common outings, sometimes to help pay for vacation expenses, and each month it helps us pay for a purchase of one hundred euros for the house (sometimes what is necessary to DIY, sometimes a decorative element). object or plants, for example). We are also deducted from this account for €36 per month for a UGC duo card that was pulled when we were full of good resolutions (and we used it twice this year, a huge waste). »
In addition to your UGC subscription, this amount includes each month €80 for fruit and vegetable baskets, a hundred euros shopping for the house, their joint outings and their purchases that they do most of the time at Monoprix.
“For races I prefer practicality because my brain gets in knots when it comes to moving (I go by bike or on foot and even if I take 10,000 steps a day, I get lazy). »
She pays for internet access on her shared hosting until €40 per monththat include your box and various streaming services (Netflix, Amazon Prime…), and your bank charges amount to €15.
“I don’t understand taxes”
Recently, Bravo has dedicated €600 per month, excluding withholding tax, to your taxes. To the €173 detailed above that refer to your apartment and your rental income are added €100 per month until December 2022: having calculated your taxes only from the second half of this year, it pays in six months what it will pay in twelve months each year from 2023.
To this are added €33 per month of monthly housing tax (” It’s an update, because they forgot me last year she explains) and €300 monthly income tax recovery payments for four months. A confusing calculation, which she doesn’t really master:
” Actually, I don’t suck anything. »
It costs you the subscription to a self-service electric bicycle service that allows you to travel €10 per month.
To eat at her workplace, the 30-year-old has to eat lunch regularly: her office canteen doesn’t offer very appetizing vegetarian options, so she spends €70 a month in restaurants or snacks.
Also well done reimburse €150 each month to his partner to whom he owes €2,200 for expenses that he has not been able to cover.
“Each time, it’s an absolute SHAME to ask for help and at the same time not be able to build an emergency mattress, I don’t see how else to do it…
Every month she counts €50 go to the beautician to have your hair removed, to which is added a subscription of €16 at the Body Minute Institute that she “ cannot be canceled as the process is boring.”
On average, Bravo counts €150 per month expenses for his clothes, which he buys mainly second-hand: “Sometimes it’s more when I buy a good pair of shoes, sometimes less because I only buy €40 in a second-hand store.. ”
For his leisure, he estimates to spend €300 per month that include multiple subscriptions:
“ I have €25 Gymlib subscription that allows me to access many activities and which I could hardly do without, €15 for apple music, €6 for Diplo World, and €2 for Wikipedia per month… But that’s just to clear my conscience!
she also counts €50 worth of booksvery often she goes out for drinks and buys gifts for her loved ones.
Bravo’s relationship with money
At the beginning of each month, Bravo reserves €400 to cover important expenses: condominium fees, plane tickets for vacations or work. But in fact, he always ends up dipping into this amount to fill his overdraft before the end of the month:
“In total, I have €440 to treat myself, but actually I am overdrawn regularly and have to use what I have set aside to make up for it.
I’ve been trying for years to make and stick to a budget, but I’m clearly living beyond my means.. In fact, I know that I am SUPER privileged, but I am drowning in expenses and I want my rhythm of life: lots of leisure, good meals, etc.
I am also a very bad manager, very wasteful, very impulsive and I have been uncovered every month of my life.
You would like to reduce your lunch budget, but also the cost of your apartment:
“Every two days, by dint of receiving fund calls, I tell myself that I am going to sell it. There they ask me for €10,000 per work and it worries me a lot, I can’t handle that… But selling would mean losing my contribution because the price per m² hasn’t changed much in two years.
In general, money is a source of anxiety for Bravo, but also of discomfort:
“This mismanagement prevents me from calmly considering my two life projects: we are trying to have a baby, and the idea of not being able to afford it worries me. In addition, I am considering a professional recycling that would leave me without a job for a while, and towards a job whose average salary is €1,500 net per month.
For the poor manager that I am, these separate projects are a source of anxiety… Anxiety that reinforces my financial impulsiveness. Altogether, it becomes daunting and infuriating at all.to have such an enviable situation and not get to flourish.
She hopes that sharing her budget in Settlement can help her achieve a more peaceful relationship with money:
“I hope this helps readers who can recognize themselves in my situation, and that others can share their experience as a good manager to help me put my situation in front of me once and for all: I know I could live much better, and I don’t. I do on a whim. It is very paradoxical, especially since it continues to be a source of anxiety and a bad image of myself.
Thanks to Bravo for answering our questions!
Photo Credit: Karolina Gabrowska/Pexels
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