How much do you earn and save?

Originally Posted by Unregistered

Early 20s
- Just started as SWE in large tech, 5-6k+ per month

- $500+ in food when I'm bulking, $350 when cutting.
- $100 in utilities ( internet, sim card, electricity )
- $2k a year Life & Wellness costs ( gym membership, supplements etc ) paid by company
- Savings 3.5k per month

I don't give my parents allowance because they have money. Only stupid people have kids when they're poor af, I sure as hell won't get married and have kids unless I hit 10k / month with at least 750k in savings.

Food cost varies depending on whether I'm dieting or bulking for the year. Unlike morons I don't just eat whatever I want like a brainless monkey.

I adjust telco plans depending on situation. During COVID and WFH, no point having a monthly plan so swapped to sim only and paid like $20 7 months ago.

Looking to retire by 35.

Eat too full gwgb, you can retire now and go fly kite

SWE grad

Take home aft CPF: $4300
Save: $2400 (~65%) every month

I will save 80% post CPF post expenses which are about $600 per month. Use a spread sheet to calculate the amount and when paycheck is in, I immediately put that 80% in the broker to invest. Though I already live like hermit I still have $600 expenses (inclusive of insurance), so the final saving percentage is only 65%. Sigh. Don't know when can I afford my first home alone.

[gurlInTech]

Originally Posted by Unregistered

SWE grad

Take home aft CPF: $4300
Save: $2400 (~65%) every month

I will save 80% post CPF post expenses which are about $600 per month. Use a spread sheet to calculate the amount and when paycheck is in, I immediately put that 80% in the broker to invest. Though I already live like hermit I still have $600 expenses (inclusive of insurance), so the final saving percentage is only 65%. Sigh. Don't know when can I afford my first home alone.

Remember to consider your income tax. I was just like you a few years back, salary a bit lower, but I didn’t invest until 2020 market crash. Live like a hermit also. I think my expenditure then was even lesser than you. Had to give my parents allowance on top of that. The growth potential of SWE is quite huge . If you are willing to put in the effort in learning. I tried to ask my friends to study together and get rejected left and right. Found out a few of them are just studying secretly on their own later. Those who make an effort had very good career 4 years forward. Those who didn’t kind of stagnated and whiny on social media.

You only need a 10% downpayment and assume another 10% for misc for BTO, so you probably will be able to afford a 2-room BTO comfortably with 2 years of savings. I feel you should be more worried about hitting the income cap for single BTO when you are 35, which is easily achievable in SWE.

[vulcan]

30M, single, bank ops by day, active trader by night and weekends

Income:
Take home - $4k per month
Realized stocks gains - avg $3.7k per month (ytd performance)
Realized crypto gains - avg $8.6k per month (ytd performance)

Expenses:
Public transport: $120 per month
Food: $400 per month
Insurance: $200 per month
Parents allowance: 10% of take home
Rent: Free, I live with my parents
Entertainment/wellness: Almost $0, have my own gym equipment at home already and I don't go out. #lonelyboy
Bills: $18 per month for data sim. Parents pay for electricity and water bills.
Others: extra $200 per month? Like sometime I pay for groceries or dinner when I go out with my parents.

Originally Posted by vulcan

30M, single, bank ops by day, active trader by night and weekends

Income:
Take home - $4k per month
Realized stocks gains - avg $3.7k per month (ytd performance)
Realized crypto gains - avg $8.6k per month (ytd performance)

Expenses:
Public transport: $120 per month
Food: $400 per month
Insurance: $200 per month
Parents allowance: 10% of take home
Rent: Free, I live with my parents
Entertainment/wellness: Almost $0, have my own gym equipment at home already and I don't go out. #lonelyboy
Bills: $18 per month for data sim. Parents pay for electricity and water bills.
Others: extra $200 per month? Like sometime I pay for groceries or dinner when I go out with my parents.

You can quit day job as trading can support your lifestyle

27 year old male here

I am a late boomer, took a longer route, just grad from private uni not long ago, my pay only $2600, after cpf only $2080.
Expenses about $400 per month plus give parents $350 per month.
Total savings in the bank about $25k.

I am depressed just by looking at everyone post here.

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.

I would like to nail this girl and make babies with her, I am imagining she is sg chinese and her breasts are A/B cup, will hold them when i smash her hehe, let me know if we can exchange contact if you read this

27, Male, working in tech industry.

Getting $6.3k per month, getting $5.1k after CPF.

Parents allowance: $1000
Food: $300
Bills: $100
Save: $3700

Saving and hoping to buy a condo at 30 as I'm still single and not eligible for HDB.

Originally Posted by Unregistered

27, Male, working in tech industry.

Getting $6.3k per month, getting $5.1k after CPF.

Parents allowance: $1000
Food: $300
Bills: $100
Save: $3700

Saving and hoping to buy a condo at 30 as I'm still single and not eligible for HDB.

You better start investing aggressively if you want that condo in 3 years. I'm assuming u just graduated cause NS + 4 year degree.

Originally Posted by Unregistered

27, Male, working in tech industry.

Getting $6.3k per month, getting $5.1k after CPF.

Parents allowance: $1000
Food: $300
Bills: $100
Save: $3700

Saving and hoping to buy a condo at 30 as I'm still single and not eligible for HDB.

Can be done for sure.You have high saving rate and will have no issue with the downpayment 3 years later. Make sure you don't anyhow invest and lose money. Otherwise it may affect your plan to buy condo.