Quote:
Originally Posted by catspajamas
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