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

Originally Posted by Unregistered

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.

Your parents offer u few 100k ang pow u got face to take?? Knn mid 30s earn 7k Nia pui. Useless

Originally Posted by taco

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

Originally Posted by Unregistered

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).

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

Originally Posted by Unregistered

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

you everyday call chicken of cos la

Originally Posted by Unregistered

cut the car lor? why need Car in SG

because he feel inferior when have to rub shoulder with smelly unkers in MRT

Originally Posted by Unregistered

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

Dun anyhow spend…stop being a party animal….see what are your needs and wants…

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.

Originally Posted by Unregistered

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.

U talking abt sgd or ringgit? Lol