Originally Posted by Unregistered (Post 218726)

I am mid 30s. Me under 7k, wife under 9k.

-give parents each side under $500 due to them all much richer than us and only request token
-small executive condo
-cat A car
-NO CHILD

We survive by eating cheaply or at restaurants when on deals and buying things on offer.

My parents were extremely generous too (gave a few hundred grand ang pow when married). After buying home and stuff we find surviving tough with our income since we try to save and invest some of it too.

So honestly speaking, from my experience anyways, $7k+7k (assuming your wife too) not numerically possible to survive independently, especially with a child.

Originally Posted by taco (Post 218691)

As titled, currently in my early 30s(M) with about $7k salary (before CPF deduction). Wonder how peers who are around the same age and earn about the same as me mange to pay for:
- HDB loans (either BTO or resale) and
- afford a car (either first/second hand) with petrol/carpark and
- have a kid and
- support parents through monthly allowance
and still have some remaining to save & invest.

Finding it difficult. Hoping some peer can shed some light on how they manage their finance.

Originally Posted by Unregistered (Post 218756)

Why is it difficult?
They did it with loan. All sorts of loan car loan, hdb loan, credit card loans,personal loan etc.
Nothing difficult about taking multiple loans

Originally Posted by Unregistered (Post 224505)

born in '95, i make 144k a year but i also find it difficult to budget and save money

Originally Posted by Unregistered (Post 218698)

cut the car lor? why need Car in SG

Originally Posted by Unregistered (Post 224505)

born in '95, i make 144k a year but i also find it difficult to budget and save money

Originally Posted by Unregistered (Post 225724)

It is very tough on 7k single income, almost impossible I would say. Back when I made that amount on single income, even with 4-5 months bonus and not giving parents allowance, no car, cheap HDB, we barely saved anything.

I have no car, cheap flat, no branded goods, several kids, still spend about 10-12k a month.

Mostly on food and groceries, 1.5k parent allowance, helper etc.

Quality food is expensive and one meal out with the family may cost 150-200. We also eat steak, seafood, sashimi very often at home.

Now close to 25k pm can finally start saving.