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-   -   How do people in their early 30s sustain a flat/car/kid/parents with $7k/month? (https://forums.salary.sg/investments-net-worth/14592-how-do-people-their-early-30s-sustain-flat-car-kid-parents-7k-month.html)

taco 22-05-2022 08:19 PM

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

Unregistered 22-05-2022 09:24 PM

ur wife salary? breakdown your expenses so we can advise?

Unregistered 22-05-2022 09:36 PM

cut the car lor? why need Car in SG

Unregistered 22-05-2022 09:50 PM

Quote:

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.

If dual income it's 14K pm, quite doable

Unregistered 22-05-2022 09:58 PM

Quote:

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.

1990 here.

No housing loan cause family stay landed.
No car, no driving licence.
Not married, no kids.

Give around 10% salary to parents as token sum, they donít really need it.

Unregistered 22-05-2022 10:03 PM

inflation, things getting expensive in SG
growth ur income

Unregistered 22-05-2022 10:17 PM

Quote:

Originally Posted by Unregistered (Post 218701)
1990 here.

No housing loan cause family stay landed.
No car, no driving licence.
Not married, no kids.

Give around 10% salary to parents as token sum, they donít really need it.

U should do more for your parents. Hire a maid for them.

Unregistered 22-05-2022 10:32 PM

Quote:

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.


If possible get bto (hdb loan instead of bank loan)
Evaluate the need of car, sg so small dun really need car unless ur parents are handicapped.
Same go for allowance, instead of following the norm, if your parents doesn't need can just keep.

Invest early, start early. Hope you already settle your insurances already.



Basically , live within your means , doesn't mean you earn higher must spend more

Unregistered 23-05-2022 12:03 AM

- HDB loans (either BTO or resale): Bobian must pay
- afford a car (either first/second hand) with petrol/carpark: Can live without one
- have a kid: Bobian must pay but don't try to live a high SES life
- support parents through monthly allowance: Depends from family to family but hopefully they have some savings already.

Unregistered 23-05-2022 12:08 AM

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.


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