What do you spend your salary on ?
Other than essentials for everyday living, what big ticket things do you spend your hard-earned money on? Watches, changing cars, far flung vacations, good restaurant meals?
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paying student loan, saving up for cheap coffeeshop food, stocking up on food during NTUC sales, buy cheap watch from daiso etc
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Main expenses are the compulsory once a year overseas vacation.
HDB is paid from CPF, so it doesn't affect cash position. Car is fully paid up. Been saving up hundreds of thousands, waiting for stocks and property to be cheaper before buying them en masse. |
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I spend around 8K average monthly on income tax, home loan, home expenses, wife expenses, car, kids education and holidays. Save around 7K monthly mainly in the form of cash and some in savings plan.
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income tax - 2.5k a month giro home loan - 1.5k a month (becos sor is so low now) home expenses - electricity,water,hp,internet, groceries, qtr air-con maintenance, insurance - 1k a month holiday - twice a year ard 12k in total to eat, sleep, fly, on average 1 k a month toyota car - installment+petrol+tax+insurance+servicing - 1k a month misc - give parents money, give ang-pows when attending weddings, buy cloths/apple products, eat out, social - 1 k a month. If I have kids next time, I dont think I can save much every month (budget 2k a kid a month), only year end bonus. |
It looks that a monthly family expenditure for the essentials of 6-8k is quite common.
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Age 27. Male.
Financial Services Base Salary: $120,000 Monthly expenditure Car Loan / ERP / Petrol / Season Parking / tax: S$1700 Personal + GF life insurance plans: S$600 Parent's allowance: $1500 (both parents not working) GF + her parent's allowance: $1500 (help to subsidise cause they are retirees. GF unemployed) GF university loan: $400 Brother's university loan: $400 HP bill + electricity / water expense: $250 Meals & other expenses: $1000 (Dinners mostly at home. Seldom go out) Charity contribution: $300 Savings: $1500-2000+ per month (based on last 6 months average). Main form of savings come from annual bonus. Last year bonus: $75,000 - Bring family and gf family to Perth for holiday. Spend about $20,000 - Year end festive shopping: $5,000 (includes buying household replacement items e.g. furniture/appliances) = saved about $50,000 of my bonus. |
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