Quote:
Originally Posted by Unregistered
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
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Just to correct you on the holidays.
The expenses were monthly, hence holidays at $12k pa. Many middle income families now take 2 holidays a year and can spend more. Hence your $5k is minimal actually, just sufficient for short trips in Asia.