Quote:
Originally Posted by Unregistered
He is not far wrong. You don't need $10k pm to survive if :-
1. You are single
2. You are staying with parents, and don't need to help with the housing loans
3. You are married, but without children, no maid and no car
But if you are married, have children, stay on your own with housing loans to pay off, and a car, a maid, you will need $10k pm to be financially comfortable.
My family is a mature family meaning my children have already graduated, so I know what it was like to bring them up to that stage, sponsoring them through their studies, having a family car, having a maid to help out, paying for our housing loans and still have money for yearly vacations and retirement savings. Our family expenses hovered around $10k pm for many years and in fact exceeded that amount when my children were in the unis. And we don't live a lavish nor luxurious lifestyle!
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Totally didnt know that having yearly vacations is essential to surviving in singapore.
Sarcasm aside, 10k/mth expenses is actually quite a large sum. I too come from a mature family with 2 kids and my father is the sole breadwinner of my family. We managed to survive on my father's 7k/mth with a japanese car, fully-paid housing loan and
CPF loan to sponsor me and my sister's uni fees. We do have the occasional family trips although not yearly.
Cant afford that BMW 5 series? Get a cheaper japanese car or even better, take public transport.
Cant do yearly vacations? Choose a cheaper location or not go at all.
Need a new running shoe? Get the Erke running shoes instead of the Adidas Ultraboost.
Ultimately, it is all about living within your means.