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

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




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

Reply
 
Thread Tools
  #1 (permalink)  
Old 22-05-2022, 08:19 PM
Junior Member
 
Join Date: May 2022
Posts: 1
taco is on a distinguished road
Default 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.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #2 (permalink)  
Old 22-05-2022, 09:24 PM
Unregistered
Guest
 
Posts: n/a
Default

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

Reply With Quote
  #3 (permalink)  
Old 22-05-2022, 09:36 PM
Unregistered
Guest
 
Posts: n/a
Default

cut the car lor? why need Car in SG

Reply With Quote
  #4 (permalink)  
Old 22-05-2022, 09:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
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.
If dual income it's 14K pm, quite doable
Reply With Quote
  #5 (permalink)  
Old 22-05-2022, 09:58 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
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.
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.
Reply With Quote
  #6 (permalink)  
Old 22-05-2022, 10:03 PM
Unregistered
Guest
 
Posts: n/a
Default

inflation, things getting expensive in SG
growth ur income
Reply With Quote

  #7 (permalink)  
Old 22-05-2022, 10:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
  #8 (permalink)  
Old 22-05-2022, 10:32 PM
Unregistered
Guest
 
Posts: n/a
Wink

Quote:
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.

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
Reply With Quote
  #9 (permalink)  
Old 23-05-2022, 12:03 AM
Unregistered
Guest
 
Posts: n/a
Default

- 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.
Reply With Quote
  #10 (permalink)  
Old 23-05-2022, 12:08 AM
Unregistered
Guest
 
Posts: n/a
Default

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.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How much $ do you give your parents every month? megasoma Income and Jobs 190 31-07-2022 10:32 PM
Seeking advice on supporting elderly parents johnny123 General Discussions 1 20-10-2021 06:06 AM
Parents alert! Bed bugs invasion to school lilylily General Discussions 3 09-02-2021 11:39 PM
career switch in early 30s coldyx Income and Jobs 9 23-10-2019 12:59 PM
work life balance for parents darialim Income and Jobs 10 08-05-2013 04:17 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
6,657 Replies, 4,226,971 Views
Anyone work in JPM/GS/Morgan... ( 1 2 3... Last Page)
294 Replies, 74,102 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,816 Replies, 2,680,410 Views
Lawyer Salary ( 1 2 3... Last Page)
18,447 Replies, 7,585,419 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
268 Replies, 174,716 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
169 Replies, 212,136 Views
Compare civil service salary ( 1 2 3... Last Page)
14,970 Replies, 9,988,831 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,050 Replies, 734,466 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,779 Replies, 3,465,508 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
639 Replies, 267,873 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,597 Replies, 1,310,341 Views
Pay for digital marketing agencies ( 1 2)
13 Replies, 9,829 Views
Micron starting pay ( 1 2 3... Last Page)
630 Replies, 247,119 Views
Standard Chartered International... ( 1 2 3... Last Page)
362 Replies, 163,424 Views
Bnp paribas graduate ( 1 2 3... Last Page)
202 Replies, 122,129 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,718 Replies, 991,428 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,250 Replies, 3,322,959 Views
GovTech ( 1 2 3... Last Page)
3,460 Replies, 1,121,577 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,098 Replies, 761,920 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
9,723 Replies, 3,173,488 Views
Work culture in IHiS ( 1 2 3... Last Page)
378 Replies, 285,760 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
1,093 Replies, 452,784 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,144 Replies, 364,423 Views
Constituency Manager (People... ( 1 2 3... Last Page)
926 Replies, 632,042 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
1,174 Replies, 480,787 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,756 Replies, 2,323,921 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,302 Replies, 635,213 Views
HSBC Graduate Programme 2021 ( 1 2 3... Last Page)
113 Replies, 64,529 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
847 Replies, 245,127 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
2,039 Replies, 846,727 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:49 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2