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How do people in their early 30s sustain a flat/car/kid/parents with $7k/month?

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  #11 (permalink)  
Old 23-05-2022, 12:18 AM
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Originally Posted by Unregistered View Post
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.
Just to clarify, when we bought our EC some years ago, it was cheaper and costs less than some BTOs today. So the comparison to OPs situation is still valid IMHO.

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Old 23-05-2022, 02:07 AM
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Your parents offer u few 100k ang pow u got face to take?? Knn mid 30s earn 7k Nia pui. Useless

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Old 23-05-2022, 10:02 AM
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Originally Posted by taco View Post
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.
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

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Old 23-05-2022, 12:11 PM
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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
Maybe that's why he's asking? Perhaps he wants to do it without taking loans - which should be avoided as far as possible (maybe except for the home which is a necessary evil).
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