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Old 02-06-2020, 01:03 PM
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Originally Posted by catspajamas View Post
Hey guys! Just wanted to know what are your savings habits like and whether i'm on the right track [w the format below]:

Take home aft CPF: $2,700
Save: $2,000 (~74%) every month

I'm currently 25 y/o female w no liabilities (live w parents, parents both working w income, not married, no sickness etc.).

(putting aside savings for BTO, no active investments at the moment, insurance paid for by parents)

I did receive some insights from my friends who told me im rly saving a lot, though i thought this was a norm because i always heard we should save aside 60% as a rule of thumb.

If you can offer more insights on how i can improve / do more w my savings, let me know too. I think this is a good place to share insights, anecdotes and advice for entry level workers/savers too.

What about you guys?

*This was inspired by what i read in the news ytd about singaporeans not having enough savings to last 6 months.

You are so lucky to have no liabilities. I earn 5k/month but hardly save much
Gross pay 5k. Take home 4k
Parents allowance- 1600
Insurance- 912 (Including hospital plan, term plan, life insurance and CI plans)
Savings endowment plan with aia- 500
Personal spend- 600
Personal cash savings - 400

My bonus around 3 months on average including aws. (Will try to save at least 40- 50percent of it)
I have worked for close to 5 years now, have around 22k in savings and 12k in investments (stocks)

I am currently living with my parents, have no car, do not own my own house.
Still single as I don't think I am financially stable/secure to look for a partner yet (esp given current covid situation)

The dream of being financially free looks a million miles away
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