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Abstract

ea0">The app I use allows me to create different savings accounts, which don’t have any interest rates but allow me to control how much money I spend and where.</p><p id="c054">I have one account named “house” where I put — you guessed it — the necessary amount for my rent.</p><p id="5594">I have another for groceries, with an estimated amount necessary to buy food and other essential goods.</p><p id="371d">Other accounts include money for taxes, dining out, and “pampering”.</p><h2 id="ffc6">I establish a weekly menu</h2><p id="c946">Every Sunday, I pick two or three meals to prep and eat throughout the week. I make sure to include snacks, breakfast, and enough veggies to make soup.</p><p id="00e3">This way, I know exactly what to buy when at the supermarket.</p><figure id="0169"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*zJo9_7I-R7NQHExFvZeykA.png"><figcaption>Example of a weekly shopping list</figcaption></figure><p id="dade">With this shopping list I can, for example, prep tofu with rice and green beans, and a bean and rice stew. For dinner, I will usually eat soup with bread and an egg. Breakfast is a peanut butter sandwich or toast with peanut butter and banana.</p><h2 id="7909">I save at least 10% of my salary</h2><p id="ce47">I know this might sound daunting, but when you establish a minimum amount to save each

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month, you find ways to spend less money and still get through.</p><p id="445d">If you can’t do it, save 5%. If that’s still too much, save 2,5%. The important thing is that you are saving. This allows you to have a safety net and, after a while, to invest.</p><p id="39b7">I have a low-risk profile, so I buy public debt which is a safe investment and usually has a good interest rate.</p><h2 id="bb3f">I share a house</h2><p id="9864">The rent prices are crazy now, and I cannot afford to pay 800 euros for a 1-bedroom house. At first, I felt skeptical about it, but I found a nice place, which I share with other teachers.</p><p id="b13d">This allows me to pay an acceptable rent and share other expenses.</p><p id="02c8">If you are lucky, this also allows you to meet nice people to whom you can vent when things get hard.</p><h1 id="ef5b">My monthly budget</h1><figure id="07ce"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*nHXvux92NHH3EjY9KffFvA.png"><figcaption>I save monthly for annual taxes</figcaption></figure><h2 id="f7e9">Final notes</h2><p id="1af6">The amounts might vary slightly each month, but I always make sure to save at least 100 euros and write down a shopping list.</p><p id="cce8">I am not rich, but I can afford to rent a room, have a full belly, save to buy a house, and still have some fun.</p></article></body>

Prices are on the rise. This is how I live alone(ish) with a 1000 euro salary.

In my southern European life. Includes budget and saving system.

Last year I left my parents’ house. I thought it would be a dream: independence, taking care of my things, and starting young adult life.

Long story short, it was not and isn’t a dream. I moved to a new city — with its own set of challenges — and finding a place for myself was a big struggle. Prices were (and are) on the rise, and I only had a 1000 euro salary to work with.

After a three-month stay in a family member’s house, I could rent a room, which made it possible to start getting my life together. However, essentials are still expensive, and it is hard to make ends meet.

That being said, over the last few months, I developed a system that helps me save money and have a (semi) comfortable life.

I have mini-budgets for all my monthly expenses

Many banking apps can create multiple accounts without charge.

The app I use allows me to create different savings accounts, which don’t have any interest rates but allow me to control how much money I spend and where.

I have one account named “house” where I put — you guessed it — the necessary amount for my rent.

I have another for groceries, with an estimated amount necessary to buy food and other essential goods.

Other accounts include money for taxes, dining out, and “pampering”.

I establish a weekly menu

Every Sunday, I pick two or three meals to prep and eat throughout the week. I make sure to include snacks, breakfast, and enough veggies to make soup.

This way, I know exactly what to buy when at the supermarket.

With this shopping list I can, for example, prep tofu with rice and green beans, and a bean and rice stew. For dinner, I will usually eat soup with bread and an egg. Breakfast is a peanut butter sandwich or toast with peanut butter and banana.

I save at least 10% of my salary

I know this might sound daunting, but when you establish a minimum amount to save each month, you find ways to spend less money and still get through.

If you can’t do it, save 5%. If that’s still too much, save 2,5%. The important thing is that you are saving. This allows you to have a safety net and, after a while, to invest.

I have a low-risk profile, so I buy public debt which is a safe investment and usually has a good interest rate.

I share a house

The rent prices are crazy now, and I cannot afford to pay 800 euros for a 1-bedroom house. At first, I felt skeptical about it, but I found a nice place, which I share with other teachers.

This allows me to pay an acceptable rent and share other expenses.

If you are lucky, this also allows you to meet nice people to whom you can vent when things get hard.

My monthly budget

Final notes

The amounts might vary slightly each month, but I always make sure to save at least 100 euros and write down a shopping list.

I am not rich, but I can afford to rent a room, have a full belly, save to buy a house, and still have some fun.