How much are you earning per annum?

15k per month + aws and 1-2 months bonus per annum

Originally Posted by Unregistered

How many yrs working exp? Bonus included in the figure or not?

6 yrs, bonus not included

I earn $120k pa, spouse not working. Our annual expenses is $100k pa, can only save $20k pa. My savings is now only $200k, will need to continue working for another 30 years before I can retire at 70 years old. Assuming I die at 80 years old, I have only 10 years of retirement.

Originally Posted by Unregistered

I earn $120k pa, spouse not working. Our annual expenses is $100k pa, can only save $20k pa. My savings is now only $200k, will need to continue working for another 30 years before I can retire at 70 years old. Assuming I die at 80 years old, I have only 10 years of retirement.

or you can try to spend less or earn more, or both.

Originally Posted by Unregistered

or you can try to spend less or earn more, or both.

Don't think I can earn more, I'm among the highest paid in my company already.
Need to cut my expenses. Do you know where I can get the cheapest groceries in Singapore? Also how can I apply for financial assistance for my kids?

Originally Posted by Unregistered

Don't think I can earn more, I'm among the highest paid in my company already.
Need to cut my expenses. Do you know where I can get the cheapest groceries in Singapore? Also how can I apply for financial assistance for my kids?

Cheap groceries: wet markets and Sheng Siong. Financial assistance: not eligible cos government considers you a high earner. Other options: downgrade to HDB and sell your car.

The $120k pa includes bonus? If it does, then there is a chance you can qualify for financial assistance. But first, if you are staying in a condo, you need to downgrade to HDB. Besides cutting down on expenses by downgrading to HDB, they will consider your application for assistance more favorably.

Already the gahmen is helping singles earning $5k per month to enjoy subsidised HDB flats. So if your salary of $120k includes bonus, that would mean your monthly salary is maybe $6k. And some more that $6k has to support 4 mouths. Financially you are worse off than the singles earning $5k per month.

If your salary does not go up further, then in all likelihood, the gahmen will step in to help out. Inflation will make $120k become like $80k in 10 yrs.

Originally Posted by Unregistered

Don't think I can earn more, I'm among the highest paid in my company already.
Need to cut my expenses. Do you know where I can get the cheapest groceries in Singapore? Also how can I apply for financial assistance for my kids?

Originally Posted by Unregistered

Cheap groceries: wet markets and Sheng Siong. Financial assistance: not eligible cos government considers you a high earner. Other options: downgrade to HDB and sell your car.

Downgrading to a HDB is not possible as wife would not agree. Selling my car would not change the situation much as it is already an old car.

How much cheaper are wet markets and SS? I thought Fairprice is the cheapest?

Eating in can also help. We now eat out only on special occasions like birthday celebrations.

I am been tracking my family expenses too with the objective of cutting down unnecessary expenses.

Luckily my younger girl doesn't mind taking over the books and clothing from her older sister. That helps us save too. It also helps that they were in the same school.

The one thing I have been trying to control is the handphones and the bills. No changing handphones for my kids for at least 2 yrs and only the cheapest plans. That means they have to watch their usage closely.

Holidays in Malaysia will do for us.

Originally Posted by Unregistered

Downgrading to a HDB is not possible as wife would not agree. Selling my car would not change the situation much as it is already an old car.

How much cheaper are wet markets and SS? I thought Fairprice is the cheapest?

Originally Posted by Unregistered

Downgrading to a HDB is not possible as wife would not agree. Selling my car would not change the situation much as it is already an old car.

How much cheaper are wet markets and SS? I thought Fairprice is the cheapest?

By givinig up your car, you will save a lot on parking, maintenance and petrol. At least 1-2k a month.