Precautionary savings, real estate, financial investments: our advice to put money aside with a limited salary. (© Fotolia)
Putting aside money helps to protect oneself from life's ups and downs, but also to build up a long-term wealth for retirement or for the purpose of passing on something to one's children. When you are paid minimum wage, saving can be a challenge. Our advice for those who wish and can bow to this constraint every month.
According to INSEE, the poorest households are also the ones who save the least.
The 20% whose standard of living is the lowest put "only" 3% of their disposable income aside, against more than 15% on average for all households. This low figure is both logical – it is more difficult to make ends meet when you make little money – and paradoxical since it is the poorest who are most at risk in the event of unexpected bills.
The case of a person remunerated by the SMIC
Here are some practical tips (no dubious tips here) to help those who, despite a low level of earnings, want and manage to save more than 3% of their income, a 10% rate seems to be a good average. For the sake of clarity, in the remainder of the article, we consider the case of a single person working full-time and paid at Smic.
A person in this situation receives 14,550 euros per year of salary (7.94 euros net of the hour or 1,204 euros for a Smic monthly). To this sum is added a premium of activity of about 240 euros per month (under conditions, according to a simulation performed on the site of the Caf). Finally, it is necessary to deduct about 400 euros of income taxes per year according to the scale currently in force.
In total, an employee paid to the Smic has a monthly budget of around 1,400 euros per month.
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