Those people with $20k salary, what they spend on?

[middleclass]

Cheekons, KTV, hang flowers joints, bluewave

 

[highsulphur]

Well up to you to believe. I earn double that but my Wife spends $15k/month. After deducting my own expenses, I only save $4-5k a month. Thankfully house (HDB resale) fully paid. No car loan as well.

Bro, dealer says the new Patek is coming. You going for the event?

 

[highsulphur]

For me
20% tax
15% wife/household allowance
50% investment
15% own expense

 

[mikhail_k]

Cheekons, KTV, hang flowers joints, bluewave

best answer so far

 

[xiaosinsinful]

Camping for insights

Not me but people around me who money flow like water usually throw away at night…. Supporting siambu vietbu earn so much till can become citizen, or support other ppl daughters for their uni fees….

i see what you did there

ofcourse we should all support other people daughter right?

 

[Wu-Han Clan]

if you look at edmw... $20k is spend on cheap cars like vios.... siam bu gf... toys... anime figurines...

 

[xiaosinsinful]

I don’t know what they spend on

but I know for sure what they DONT spend on. They don’t spend their time in EDMW

 

[Jerroldscv]

20k

2k car installment
House fully paid
Rest slowly spend

 

[Pueh Kee]

Taxes and kickbacks

 

[dannytan87]

i see what you did there

ofcourse we should all support other people daughter right?

援助交際

 

[fantasyland]

Like alot money?
Normally spend on car loan and housing loan?

Spend on KTV lor if not how the Viet hostess make 40-50k a month.

 

[xiaosinsinful]

a newly contructed terrace house freehold cost 4.2m minimum, some up to 6.5m

assuming 4.2m.....
its about 150k in bsd
1m in down payment

you need like 1.18m in cash + OA.

20k salary = 240kpa
after taxes about 210k

about 1.3k into OA every month

assuming save like shyt and managed to save 150k every year....

still need at least 8 years to reach the downpayment.

but by then 8 years, the landed would have already cost more....

its not a problem about affordability, its a racing problem

ya, like that NSmen how to afford ?

 

[Dividends]

I do not earn $20k, slightly less, unless you include investment returns.

Ignoring housing and car, lifestyle wise, I still spend like back when I was only earning ~$5k gross. Maybe just travel more since I earn a lot of miles from paying taxes these days. I eat out a few times a week like before, meal prep for work lunches and cook dinner to eat at home with wife on most weekdays. Any excess, I save and invest them.

 

[theMKR]

ya, like that NSmen how to afford ?

sign on can afford.

 

[eeLoyH]

If you earn flat 20k

your income tax is about 27,000 or 2,250
Your cpf deduction is 1,200 mthly
So less both if it you are at 16,550

that isn’t a lot of money

 

[Renzokukenz]

Like alot money?
Normally spend on car loan and housing loan?

if have kids, the money very easy disappear
i have a few friends earn above this category

really is different life one

 

[thisisnotme1212]

Like alot money?
Normally spend on car loan and housing loan?

noes enuffs fors gcbs
pumps intos stocks rohs

 

[m@maboi]

Like alot money?
Normally spend on car loan and housing loan?

family.... car, meals and children expenses..

trust me, after deducting all of the above, you are only left with probably few k for saving.

 

[veryhonestguy]

Like alot money?
Normally spend on car loan and housing loan?

20k is nothing now la
my car 2.6k a month, my house 1200 a month, income tax 7k a month
house hold& personal expense 10k a month , investment 10k a month
rest throw inside saving not much liao

 

[LaiHam]

me & partner combined slightly more. 20k nothing much these days, esp with kids.
supporting 2 kids, 2 parents + 1 inlaw.

5k = savings (every 6 months must pay uni fees, parents holiday etc)
5k = 2 x kids abroad (rent & pocket money for both. They still work part-time to earn extra.)
3k = 3 x parents/inlaw (1k each - all not working)
3k = utilities, 5 hp bills & groceries (3 separate household)
3k = grab/gojek/foodpanda (no car, so old folks take grab all the time, still cheaper then car + maintenance. Most times lazy to cook, just order in)

And you think earn so much, can live in luxury? Not in sg. Money never enough... sigh.
Only good thing cpf so much, so no housing loans. Can top up to parents also, pay less tax.