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FAQs

How much money should you have after bills? ›

50% of your net income should go towards living expenses and essentials (Needs), 20% of your net income should go towards debt reduction and savings (Debt Reduction and Savings), and 30% of your net income should go towards discretionary spending (Wants).

We've been around since 1862, when we started as the City of Glasgow Friendly Society. Fast forward to today, we're known as Scottish Friendly Assurance.

Scottish Friendly – a name you can trust

We've been helping families just like yours since 1862. With a proud track record including numerous awards, a community of 814,000 members and £4.5 billion in assets under management, as of 26th April 2023.

Our purpose is being 'dedicated to helping you and your family achieve financial wellbeing through friendly products and customer care'. We're proud to have a history spanning over 160 years. Scottish Friendly has been dedicated to serving the community since its inception, and we're still going strong.

Bottom Line. Living on $1,000 per month is a challenge. From the high costs of housing, transportation and food, plus trying to keep your bills to a minimum, it would be difficult for anyone living alone to make this work. But with some creativity, roommates and strategy, you might be able to pull it off.

If you need to pay for the council tax, water rates, electricity and gas, internet provision, mobile phone bill etc then no, it probably isn't enough. A reasonable minimum would be: £180/month on food. £70/month council tax.

What is the Scottish word for friend? Charaid, or Mo Charaid for my friend, is the official answer, but colloquially the terms I have heard most seem to be chum and pal!

Scottish Americans or Scots Americans (Scottish Gaelic: Ameireaganaich Albannach; Scots: Scots-American) are Americans whose ancestry originates wholly or partly in Scotland.

Withdrawals will be met by cancelling units in your fund(s) according to your instructions. Payments will be made within four working days of your units being sold. If you hold one or more ISAs with another ISA Manager, you can transfer these to Scottish Friendly by asking for our ISA Transfer Application Form.

What country are you from if you are Scottish? ›

The UK is the set of countries under British rule. This includes Scotland and England. Thus, someone Scottish is also British but not English. Some Brits take their national identity within the UK quite seriously, and may find it insulting to be called English if they're not from England.

People in Scotland use the words 'please', 'thank you' and 'sorry' a lot! And if you bump into someone it is normal to say 'sorry' even if it is not your fault. Queuing is also seen as being polite and respectful. Pushing in front, or cutting in line is a no-no.

Christianity is the religion of the majority of Scottish people, but there are other popular religions. Catholicism is another highly practiced religion in Scotland. Although there is a high population of Catholics and Christians, there is also part of the Kirk.

What makes Scotland unique? Ceilidhs, bagpipes, kilts and whisky - these are just a few traditions that make Scotland's culture special.

Our 50/30/20 calculator divides your take-home income into suggested spending in three categories: 50% of net pay for needs, 30% for wants and 20% for savings and debt repayment.

If you're 30 and wondering how much you should have saved, experts say this is the age where you should have the equivalent of one year's worth of your salary in the bank. So if you're making $50,000, that's the amount of money you should have saved by 30.

The 70-20-10 budget formula divides your after-tax income into three buckets: 70% for living expenses, 20% for savings and debt, and 10% for additional savings and donations. By allocating your available income into these three distinct categories, you can better manage your money on a daily basis.

The short answer to what happens if you invest $500 a month is that you'll almost certainly build wealth over time. In fact, if you keep investing that $500 every month for 40 years, you could become a millionaire. More than a millionaire, in fact.