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

[Redbull1628]

ATB

VB

TB

 

[televisione]

Entry level c180 is 290k, which would take up around $4000 per mth

Entry level condo brand new top after 2022, 1000 square feet, 1.8mil
Management fee $450
Monthly installment $5000+

Car and house 10k+

Income tax
Cpf
Parents
Holiday

20k salary is really not alot in 2022

Honestly if 20k cannot afford car or private housing, I don't know what kind of salary would be able to afford.....

 

[KusitoriBuro]

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.

lol dark84 is back! with his usual csb of course

 

[anthonygreenisreal]

buying more assets.

 

[KusitoriBuro]

my c-suites all earn above that. but they dress until damn lok kok and drive poor people's pokkai car.

but what i know is they all have many properties in sg

 

[jack-320]

Sinkie spend on

Car loan

condo loan

child tuition

holidays

new expensive hobbies

if suay, maintenance to child and/or alimony to ex wife

 

[bochup84]

For me, after deducting my living expenses (food, transport, mortgage, gym, etc), my parents' living expenses, put aside some for savings and investment, I still have excess to sponsor 3 kids overseas via worldvision and occasionally check a local site appealing for adhoc donation asking for milk powder, diapers, etc, and I will buy and send them to the requestor.

Per year I will also travel around 3 times, 1 of them will be a longer trip to winter countries. Flights more than 7h I fly business.

 

[harbinger255]

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

Still can save 10k per month... very bad meh?

 

[Forever84]

Me and wife around 40k per month

Mortgage = 4K
Maintenance = 400
Parents both side = 2.4K
Kids school = 1.6k
Kids enrichment / classes = 1k
Car = 1k
Petrol = 250
Telco and other fixed expenses = 450
Helper = 800

Most fixed expenses alone already 12k laio

Minus off food and insurance/investments we will save the rest

 

[veryhonestguy]

Still can save 10k per month... very bad meh?

investment and saving are 2 different things, if can best is split the savings to fixed savings, that cant be touched at all in fd, and some savings for purchasing of big ticket item like car, and such

 

[harbinger255]

investment and saving are 2 different things, if can best is split the savings to fixed savings, that cant be touched at all in fd, and some savings for purchasing of big ticket item like car, and such

Hmmmmm with an alleged income tax of 7k per month, you should be getting around 500k annually.... that should put you around 41k per month.... minus off all what you listed... still have a balance of 10k no?

My maths off?

 

[veryhonestguy]

Hmmmmm with an alleged income tax of 7k per month, you should be getting around 500k annually.... that should put you around 41k per month.... minus off all what you listed... still have a balance of 10k no?

My maths off?

2 different matter, but nowadays in sg is really tough to retire young
only way is to bite the bullet and keep building passive income
but one of my main portfolio down 46% that make me regret not buying property in the first place

 

[veryhonestguy]

Me and wife around 40k per month

Mortgage = 4K
Maintenance = 400
Parents both side = 2.4K
Kids school = 1.6k
Kids enrichment / classes = 1k
Car = 1k
Petrol = 250
Telco and other fixed expenses = 450
Helper = 800

Most fixed expenses alone already 12k laio

Minus off food and insurance/investments we will save the rest

you forget the income tax, and kid will spent more when they go up
car also getting more expensive
life is tough

 

[Goodshot]

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

Income 20k but tax 7k a mth , u tok simi sh!t

 

[rpgfreak]

$20k per month
-$1.2k CPF Contribution

Left $18.8k per month
- Put $10k into SSB
- Put $5k into Stocks
- $3.8k just spend whatever and please remember pay tax

 

[OddEye]

I not even close to 20k. Cannot imagine what they spend on. I barely get through a day with caipngs

 

[veryhonestguy]

IIRC should be around 2k/mth.

yup even with 62k relief is $2379.24 monthly , with no bonus

 

[Jazzwraper]

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.

very common la .... here all edmw-ers, 20k, 25k pay like tat one also ......

 

[Jazzwraper]

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

u forget to mention the rest of your $$ still need to use them to polish your big canon .... end up zero savings.

 

[F3Rm1nat0r]

this 20k benchmark, is it annual divided by 12?




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