How do u all save money?

[Majestic12]

Saving money is not as important as growing your streams of income. Your potential to save is limited whereas your potential to make money is unlimited.

Calculated that end of the year, I should be able to hit $10k a month in passive income.

 

[arctician]

wah 20k savings from army!
confirm is officer..

no la last time corporal is $650 right..2.5 years ard 20k mah

army guy don have to spend a single cent..unless u go geylang

 

[SpeedingBullet]

really applaud u for ur achievement..i only know fixed Deposit in my early 20s

u can buy a condo soon and use rental to service e loan

by 30 u should be financially free

Ya i was interested in finance since i was 16, read all the news in the biz section and every article was interesting to me, so i guess thats how i got started?

Siao eh condo lol, BTO more likely.

Nah 30 is a moonshot, unless i get confirmed for my job which is highly unlikely

 

[RetRace]

Saving money is not as important as growing your streams of income. Your potential to save is limited whereas your potential to make money is unlimited.

Calculated that end of the year, I should be able to hit $10k a month in passive income.

grats! 10k/mth passive income is a dream for me at least. i only need 3k/mth with no debt and i will retire. long way to go man

 

[havetheveryfun]

no la last time corporal is $650 right..2.5 years ard 20k mah

army guy don have to spend a single cent..unless u go geylang

last time 2.5yrs corporal already so much ?

jin sad sia.. me only $460-$480 as corporal with 2 years NS.. cos in service unit even though do chiong sua stuff also

 

[arctician]

last time 2.5yrs corporal already so much ?

jin sad sia.. me only $460-$480 as corporal with 2 years NS.. cos in service unit even though do chiong sua stuff also

nowadays recruits already $560 lo

cpf min sum are tagged to inflation..nsf allowance also have to be e same

 

[hotstuff4u]

no la last time corporal is $650 right..2.5 years ard 20k mah

army guy don have to spend a single cent..unless u go geylang

Jin satki man

My brother go NS never save much

I don't have much savings either

 

[arigatoast]

no la last time corporal is $650 right..2.5 years ard 20k mah

army guy don have to spend a single cent..unless u go geylang

650*2.5*12= 19 500 SGD.

dont tell me u live by purely oxygen........

 

[arctician]

Jin satki man

My brother go NS never save much

I don't have much savings either

obligation of nsf in 2000 and 2016 v different leh

last time can only book out on Sat noon, then siong unit everytime will kena guard duty..weekday can only go out once or twice and must return before 2359

nowadays ppl book out on friday..training become more slack..guard duty also less

times are different..more time to spend$$

650*2.5*12= 19 500 SGD.

dont tell me u live by purely oxygen........

got spend la..but wont change e outcome by too much

 

[Darkzi0n]

5 years ago corporate first class with combat pay is Onli 600+ leh. And it's not like u join army as corporal. Probably can Onli promote till cpl after 1.5 years

 

[SpeedingBullet]

Now CPL full pay is either at $600 or very close to $600 liao.

 

[arctician]

Now CPL full pay is either at $600 or very close to $600 liao.

now corporal is $630..not bad lioa

combine with tutoring can save quite alot

 

[RetRace]

now corporal is $630..not bad lioa

combine with tutoring can save quite alot

If only i was as financial savvy as you were. I did not know where my army savings went! That's a big ****-hole. Only when I entered uni I started to be more aware, keeping track of my expenses. If not I could not have afforded to pay my tuition fees within 2 years after graduation.

Lesson learned: For the guys, start as early as during NS. It helps damn a lot!

 

[shared]

Another way to earn is to get a scholarship I guess. I see my scholar friends, uninfee fully covered, still have monthly allowance every month. Grad got job waiting.

Most of them if they save up will have at least 50k by the time they grad. No debt somemore

 

[qhong61]

Another way to earn is to get a scholarship I guess. I see my scholar friends, uninfee fully covered, still have monthly allowance every month. Grad got job waiting.

Most of them if they save up will have at least 50k by the time they grad. No debt somemore

Not working, how to save $50k?

 

[RetRace]

Another way to earn is to get a scholarship I guess. I see my scholar friends, uninfee fully covered, still have monthly allowance every month. Grad got job waiting.

Most of them if they save up will have at least 50k by the time they grad. No debt somemore

depends on what scholarship is it? Mine gave 12k in all. considering the tuition fee for uni, I was still about 12k in debt. How about my living expenses/transport/hp bills of about $300/month? I tried to be as frugal as I can, but it was still damn tough to hit $10k savings with $0 coming from parents since uni

4 years of uni = 48 months * $300 = -$14,400 (Assuming NO FUN MONEY at all as a very conservative estimate)
4 years uni tuition fee = -$24k
Scholarship allowance = +$12k

I was still at about -$26.4k? Naturally the savings since 1 year old and of course from 2 years of salary after graduation...

P.S: But i must add that I was really really very lucky to get that god-sent $12k compared to others....

I think the numbers are quite real... Like this post if you think it reflected your situation back then hah

 

[shared]

So you cleared 26k upon graduation? Not quite sure about the meaning of your 3rd last paragraph

Some scharships cover tuition in full. With additional 1k allowance every month. Some of these scholars also teach tuition and live a frugal lifestyle. Some can save 2k a month while studying and that's a lot.

 

[havetheveryfun]

Now CPL full pay is either at $600 or very close to $600 liao.

not all CPL now at $600.

PES A/B in service units get it the worse, less 100-200$ but need take IPPT n RT n chiong sua (but not as frequent maybe) like all the other guys

*based on my RT/IPPT pay

 

[havetheveryfun]

depends on what scholarship is it? Mine gave 12k in all. considering the tuition fee for uni, I was still about 12k in debt. How about my living expenses/transport/hp bills of about $300/month? I tried to be as frugal as I can, but it was still damn tough to hit $10k savings with $0 coming from parents since uni

4 years of uni = 48 months * $300 = -$14,400 (Assuming NO FUN MONEY at all as a very conservative estimate)
4 years uni tuition fee = -$24k
Scholarship allowance = +$12k

I was still at about -$26.4k? Naturally the savings since 1 year old and of course from 2 years of salary after graduation...

P.S: But i must add that I was really really very lucky to get that god-sent $12k compared to others....

I think the numbers are quite real... Like this post if you think it reflected your situation back then hah

There is also MOE and CDC bursary for low to middle income families. A lot of people actually don't know about it.

MOE bursary $2250 per year
CDC bursary $2900 per year (cant rembr the exact figures, only can get 1 of it)

but like ur household per head income need to be like <$2.2k or something which actually a lot ppl can hit if only your father is working.

a lot of my friends 1st yr I ask them apply they say wtf n lazy to apply, but 2nd year they see me get then they gian, almost more than half manage to get

edit: aiya they seem to change a lot already : http://www.nus.edu.sg/oam/financialaid/bursaries/financial-bursaries-moe.html

 

[RetRace]

So you cleared 26k upon graduation? Not quite sure about the meaning of your 3rd last paragraph

Some scharships cover tuition in full. With additional 1k allowance every month. Some of these scholars also teach tuition and live a frugal lifestyle. Some can save 2k a month while studying and that's a lot.

Sorry I think the figures do not make financial sense since -$26k was referring to the absolute figure I am looking at upon graduation that I have to pluck from somewhere to 'cover it'

To rephrase, in 4 years for expenses, I had/needed to spend $14,400.
So that set me back -$14,400.

Tuition fee set me back another -$24,000.

Looking at this, upon graduation, I needed to have $38,400 from somewhere so that my balance would be $0. With the mini scholarship allowance of $12,00, I still had -$26,400. Not sure whether it makes any mathematical sense

But the gist of it is that I think about $40,000 is expected from one who takes no money from parents at all and upon graduation, self-pay everything and wanting to pay education loan in full.