Personal Finance

Why I can’t move out

Hello everyone,

Welcome back to my blog. How are you all doing? I hope you are having an amazing day. 

Today, we are going to talk about my salary. Yes, today I will be giving you the numbers.

I feel like this is the perfect time for me to talk about my salary, because at this moment I am facing some issues that will also be discussed in this blog.

I work as an accountant. I started this job after I graduated from college. I didn’t have any experience in finance. All I had was what I was taught at school. My position was offered to me by the company where I was working a temporary job. I took the job, because I loved the work environment and because they offered me the exact job I was looking for. Besides that no one was hiring me because I didn’t have any experience. I am still happy with my job. I still feel so blessed that they gave me this opportunity. I am learning so much. I can go on and on about why I am happy to be working for this company, but that’s not the point of this post.

In The Netherlands a normal salary for a starter with a bachelor degree is €2.000. When I was young I always thought that this was a great income, probably because I come from a low income family. My monthly salary is €2.050. My net income is €1.809,12. Since I am still living at home I don’t need all that money. But as you may already know I am trying to move out. This money that I am earning is not enough for me to require for an apartment. I am currently having a hard time finding my own place. 

This situation is so sad. I feel like my whole life I have been facing limitations. It’s the pne after another. Can I live an unlimited life for once?

Let me explain to you why it’s so hard for me to find a place.

Buying a house/apartment

If I would want  to buy a house, I would of course need a mortgage. My yearly income is €26.568 (vacation pay included). With my income I could only get a mortgage of €119.048.

If I would want to buy a house for €200.000, I would have to make a down payment of €80.952. Where am I supposed to get that money from?

I always saw banks advertising that even people with a low income can still buy a house. I didn’t believe it, but one day I was like, let me just check it out and see what they are saying. So I checked out the websites. And what they were basically saying is that your parents are allowed to give or loan you €100.000 tax free. That’s really interesting, because who says that everyone has parents with €100.000? What about people like me? What about people who aren’t that wealthy? What about people with a sick parent? What about us? People like me are really forgotten in this system. 

But you know, it’s all good. It’s not a must for me to buy a house at the age of 24. I got plenty of time to do that. Let’s move on to renting. 

Renting a house/apartment

In The Netherlands we have two types of housing. We have “social homes”. These are houses owned by the government. The maximum rent at this moment is €752,33 in 2021. You can also apply for a housing allowance. With my income my housing allowance would be approximately €100. The list for social homes is really  long. A lot of people have to go for the second type of housing which are “private homes”. These are homes that are owned by real estate investors for example. A lot of them are over charging people for rent.

Since the list for the social homes are so long I started to look at the private homes as well. I am only looking at the affordable ones around €700. It’s so hard, because those apartments/studio’s are so small. When you finally find something nice it’s gone so fast. 

If you want to rent a private apartment they want you to earn the rent 3 or 4 times in most cases, sometimes 2,5 times. Today something happened that really upset me.

I found a nice apartment that I could financially qualify for. I did not hesitate and picked up my phone and called the agency. She asked me some questions. It was going so well, and then she asked me if I had a permanent contract at my job. My answer was no. Then she asked me if I had a guarantor, who earns the rent 3,5 times. Usually your guarantor is your parent. My mom earns minimum wage. So no, I don’t have a guarantor. Then she told me that I couldn’t qualify for the apartment. I even asked if I could use my net worth in the calculation. Unfortunately they don’t do that anymore, because they got in trouble doing so. So I had to let go of that beautiful apartment. Normally they put it on the advertisement if they want you to have a guarantor, but this time they didn’t. I got excited for no reason.

Once again, what about the people who don’t have parents with a lot of money? What about the people with a sick parent? What about us?

What am I going to do now?

On the social housing website they sometimes give away apartments by lottery. So I will wait for those to come around. I always get an email when that happens. At my job I won’t have a permanent contract until October 2022. In the meantime, I will do my best to create a passive income stream for myself. Till October of this year I will keep my focus on saving for a fully funded emergency fund. After that I will start to save for an apartment again. I also hope that my income will increase this year, because I deserve it.

I am currently working on a project that I will turn into passive income. I hope that I can launch it in June. 

The situation I am in right now is hard, but I will get through it and make it happen. I will find a beautiful place to live in. A lot of people share their story after they succeed, but I will take you on this journey with me in real time. I know it’s not always easy to share those moments when you are going through it. But when I do share it with you, I feel like I am not on my own.

I want to end this post by saying that I am grateful that I am still able to live at home. I am grateful that I have a roof over my head and a room of my own where I can rest and work from home. I am grateful that God blessed me with the most amazing  family. Our family dynamic is my biggest flex. All I wanted was a place for myself where I could do whatever I want and invite people whenever I want to. It’s not that there are rules in the house or anything, it’s just that we have to respect each other. For example, my brother works early in the morning in the hospital on the weekends. So I am not going to have people over on a Friday or Saturday night.

I guess only God knows when it’s the right time for me to move out and that’s fine. I don’t think that I am annoyed by the moving out part. I am annoyed by the limitations. At this point I am not living at home by choice. I just can’t move out..

This is all I have for today. Thank you for your precious time. Thank you for letting me pour my heart out. I will keep you updated about everything. 

Have a wonderful day!

Love,

Color and Coins

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