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How much do you earn and save?

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  #301 (permalink)  
Old 16-11-2021, 05:32 PM
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Originally Posted by Unregistered View Post
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

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  #302 (permalink)  
Old 19-11-2021, 11:25 PM
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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.

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  #303 (permalink)  
Old 20-11-2021, 12:38 AM
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Quote:
Originally Posted by Unregistered View Post
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 didnít 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 didnít 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.

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  #304 (permalink)  
Old 22-11-2021, 04:48 PM
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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.

Last edited by vulcan; 22-11-2021 at 04:50 PM.
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  #305 (permalink)  
Old 22-11-2021, 05:40 PM
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Quote:
Originally Posted by vulcan View Post
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
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  #306 (permalink)  
Old 22-11-2021, 05:50 PM
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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.
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  #307 (permalink)  
Old 23-11-2021, 05:13 PM
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Originally Posted by catspajamas View Post
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
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  #308 (permalink)  
Old 23-11-2021, 06:01 PM
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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.
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  #309 (permalink)  
Old 23-11-2021, 08:06 PM
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Originally Posted by Unregistered View Post
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.
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  #310 (permalink)  
Old 23-11-2021, 08:26 PM
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Quote:
Originally Posted by Unregistered View Post
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.
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