You need to add
1. Groceries
2. Health insurance and protection
3. Condo maintenance
4. Parents allowance (at least 20% of annual HH income)
5. Higher amount for holidays. I spend at least $5000 pa for a family of four
6. Kids tuition and enrichment
Quote:
Originally Posted by Unregistered
This forms the basic expenses for a family. Adding some extras, you will get the monthly expenses of a upper middle class family.
$500 - maid salary
$245 - maid levy
$100 - car insurance (x2 if got 2 cars)
$100 - car road tax (x2 if got 2 cars)
$350 - petrol (+$150 if got 2 cars)
$100 - car maintenance (x2 if got 2 cars)
$1000 - overseas holiday
$500 - restaurant meals
$2500 - monthly income tax payment
$3000 - 2nd condo mortgage monthly payment
What this shows is how much an upper middle income family can save by downgrading its lifestyle. The thing is it would be a very difficult adjustment. But when one is above 70, this will be easier. What you guys think?
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