How do you deal with work and money for now and later? Do you live by the day or do you purposefully plan your financial future? In this Money Week, we let a couple of young people have their say. Marek (16) puts some money aside every month, but doesn't mind spending the rest.
Marek Hankel (16)
Income: 500 euros per month
Savings: about 700 euros
Do your parents give you any money?
"Yes, 30 euros pocket money and a 50-euros clothing allowance each month. My friends get about the same amount. Sometimes my parents give me a bit extra, like the last time during carnival. They gave me 50 euros and they let me spend it on whatever I wanted. But if I get something, my brother and sister want the same, of course, so my parents have to draw a line."
Do you think it's enough?
"Not for what I want to spend it on. You know, I can buy a shirt at a cheap store for 15 euros, but I prefer a shirt from Daily Paper for 50 euros. I just have expensive taste. That's why part of the money I earn from my second job is spent on clothing, and I often ask for designer clothes on my birthday and holidays."
Do you have any other sources of income?
"Yes, I work at the till at Jumbo, about fifteen hours a week. That earns me 5.60 euros per hour, on Sundays double that. On a monthly basis, that's about 250 euros net. I also get an internship allowance of 180 euros per month. I do a disabled care internship two days a week. All in all, I get just over 500 euros per month. I think that's quite a lot."
What did you parents teach you about money?
"My parents are quite frugal, they don't spend their money on 'silly' things. For example, they don't understand why I need a shirt from Daily Paper so badly, I might as well buy a cheap shirt, right? I have a different opinion about that, but I do understand them. They also taught me to save enough so you always have some money for a rainy day."
How much have you saved?
"Between 600 and 800 euros, I think. I pay about 200 euros into my savings account every month. I don't think saving is easy, but I know it's wise, so I'll do it. My parents have also set aside a certain amount for me for later."