Household expenses

[djt]

This is a topic that is very related to income, in my opinion.

Would like to share my household expenses to kick start the discussion:

* Housing loan $2k
* Car (loan, maintenance, parking) $2k
* Parents $2k
* Children $1.5k
* Food $1.5k
* Miscellaneous $3k on average (covers once/twice a year holidays, gifts, etc)

Total household expenses: $12k/mth
Total as a percentage of household income: 60%

Please share yours too.

Car loan $3100
Tuition and enrichment $1200
Utilties $400
Condo conservancy $330
Car running cost $1000
Parents $1000
Eating out $800
Groceries $1200

Total $7830
Combined household income about $18k so we spend about 44%.

Monthly expenses = 8600 pm
Lumpy expenses eg insurance, angoows, hols = 45000

Yearly expenses - 148k
Income - 290k incl employer cpf contributions
Savings - 142k pa

3 posts out of 3 relatively upper middle income household. If this is the average, it bodes well for Singapore.

Ours (but we are old already, so must compare with similar age group otherwise skew the data)

Monthly combined income: $22.5K (Yearly : $410K incl bonus)
Monthly Passive income: $9K ($108k)

Monthly Expense
Condo fees : $700 (for 2 condos)
Maid : $500 + $250 (levy)
House loan : $3K
2 x Car road tax, petrol, insurance: $800
2 x Car maintenance : $100
Parents allowance: $500
Power bill & phone : $360
Kids allowance & Education fees : $ 810 + $1500 = $2.4K
Groceries : $1.5K
Eating Out : $800
Insurance : $1.5K
Misc expenses : $3K

Gross monthly expense: $15.4K (Annually = $200K incl $15K overeas holiday)
Net Savings = $318K. ($518K - $200K)

Originally Posted by Unregistered

Monthly expenses = 8600 pm
Lumpy expenses eg insurance, angoows, hols = 45000

Yearly expenses - 148k
Income - 290k incl employer cpf contributions
Savings - 142k pa

Married with 2 young kids

Childcare for two $1800
Parents allowance $1200
Food (incl baby milk, household food, weekend eating out) $1500
Insurance $1500
Transport & car related $800
Income tax $1200
Utilities, broadband, cable tv $300
Misc expenses and household items $500

Total $8800. Obviously it varies month to month as misc expenses can be higher or lower. It gets higher if kids fell sick. Lower if we happened to eat out at cheaper places for that month. Just to list some examples.

No mortgage or car loan to pay.

So far this is manageable. We can cut down more if required, but this is what we choose to live by currently.

housing loan $1600
maintenance $60
Electricity PUB $100
Broadband, cable $100
Grocery $500
Eating out $400
Transport (mostly bus/MRT, only sometimes cab) $100
Misc. $100

Income $4000
Spending: $3000

% = 75% spent.

Married with 1 kid and staying with my folks, I have property investments on the side (3 of them). My main expenses (excluding ad hoc vacations / other toys) as follows.

Country Club 135
Car Loan interest 200
Fitness /Gym membership 274
Automobile - running cost 550
Automobile - interest on loan 230
Food 1000
Property Tax 750
Property MCST total 1000
Household/ Parents Allowance 2000
Income Tax 2000
Property Mortgage Interest 2700
Various insurance (car/personal) 1200

Trying to find some places to trim down the outflows, might look to sell the club membership and maybe repay some loans to cut down the interest repayments.

[LowIncomeUser]

Singaporeans are big spender or you guys like to boast your income.

Originally Posted by LowIncomeUser

Singaporeans are big spender or you guys like to boast your income.

Why you say that? You and your wife makes $190k and own 2 properties. Are you not one of us ?? ; )

We are a low income grad couple. Makes only $120 pa ($10k pm). We live in a humble flat and have 2 kids.

Our spendings in total $100k pa. We only save $20k pa.