Money Saving Techniques

[NTTDoCoMo]

Yes but I learnt something very valuable throughout the years. In life its not how much you earn, but how much you save that matters.

I know of people who earn similar income but who have dug themselves into a nice deep hole. Or people who are just on the edge of that hole. All you need is a financial crisis and the house of cards fall apart.

I totally agree that it's not how much you earn, rather it's how much you can save

 

[The_Davis]

You guys are really thirfty, this is mine per month

Meals: $600
HP: $110
Insurance: $700
Transport: $1600
Entertainment: $1600
Credit Card: $500

what kind of entertainment costs $1.6k a month?

 

[quekky]

You guys are really thirfty, this is mine per month

Meals: $600
HP: $110
Insurance: $700
Transport: $1600
Entertainment: $1600
Credit Card: $500

your monthly transport is more than my yearly transport!
I have a $500 ezlink card since Dec 2010. Since then I've used it as much as I could, bus, mrt, cab, BK, canteens, etc. and today I'm still left with $90+

If I spend this kind of amount every month, I'll need to declare bankruptancy in less than a year...

 

[clearsky2007]

your monthly transport is more than my yearly transport!
I have a $500 ezlink card since Dec 2010. Since then I've used it as much as I could, bus, mrt, cab, BK, canteens, etc. and today I'm still left with $90+

If I spend this kind of amount every month, I'll need to declare bankruptancy in less than a year...

This total amount (~$5K) is equivalent to my retired parent allowances for 1 year.

 

[jeronleow]

Expenses for July:

Road Tax: $49 (Last month road tax cos car scrapped liao)
Food: $135.20
Transport: 129.40
Hp bill: $14.98

Total: $328.58

It is correct down to the cent cos I am automated to record everytime I spend.

 

[blue_line]

what kind of entertainment costs $1.6k a month?

 

[toshireiyanee]

what kind of entertainment costs $1.6k a month?

LOL totally. that's $400 a week. woah. sing k every day also not so expensive.

 

[toshireiyanee]

Meals: $300
Phone bills: $50
Transport: $200
Entertainment: $200-$300
Credit Card: $500

i spend more on meals and entertainment i.e. buying of game consoles, new games etc. but i do try to curb my own limit by spending less time talking on the phone, switching off lights/fan/air-con if possible (saves the earth too).

you never know what happens tml. better save a little in case of bad times.

 

[toshireiyanee]

wah just as we are on the topic, found this haha. US$9,999 leh. seems like a game site. solves our problem LOL.

http://www.youtube.com/watch?v=ha7r1fWu5Yc

best thing is stay at home and game. transport fees going to increase yet again.

 

[xiaoyuer89]

You guys are really thirfty, this is mine per month

Meals: $600
HP: $110
Insurance: $700
Transport: $1600
Entertainment: $1600
Credit Card: $500

my monthly transport also dun haf as much as ur HP alone sia. lol! sad being a student. no money =[ i wonder what you work as.

 

[Carnesir]

here is my breakdown, in order of priorities based on past month. hope to serve as a gd guideline for someone earning a modest income per month.

20% long term savings(for stocks), 20% short term savings(hold in cash till 3k, excess to bonds and securities)
20% to parents
10% bills and payments
30% expenditure.

in total i save 40%, 20% to parents and spend 40%.

for special cases like bonus i buy stuff for myself and give a treat to loved ones, save the rest for special items like travelling and all throughout the yr.

 

[Soomp!]

Is my cash flow really bad?

I am drawing $2950.

After deduction remains $2359.

I am paying as follows per month:-

MCSA + ITILv3 : RCV :- $555.75
HDB - $488
M1 Bill :- $100 for 2 handphones.
Conservancy Fee - $96 for 2 HDB - my parents and my own
Starhub TV and optic fibre - $66
Hospitalization insurance with UOB - $25.47
Aviva SAF accident term insurance - $8
Petrol for my motorbike - $60
Parking for motorbike for both my parents and my place - $26
PUB for my parent HDB - $110
Daily meals - ($12 for 5 pax, 2 meals per day) + ($5 for breakfast for 5 pax) * 31 days = $900.

Total cost me $1943.78

Left me $415.22 ..

5 in my family , 1 aged 73 dad, 1 aged 69 mother, 1 foreign wife, and 1 new born - 55 days.

 

[mastermember]

Yes bro I agree. For me my happiness comes from doing things I love and not seeing what gadget or gizmo I have.

Let me do a breakdown of my June's expenses:

Meal - $103.90
Transport - $113.83
Hp bill - $33.22
Haircut - $3.80
Total - $254.75

You can see I do not have any entertainment expenses at all because they are usually free hehe.

Snip ave! I go there to cut also. But sometimes need to cut about 2 times per month.

 

[homer123]

It will get tougher once the kid start to grow up..

I am drawing $2950.

After deduction remains $2359.

I am paying as follows per month:-

MCSA + ITILv3 : RCV :- $555.75
HDB - $488
M1 Bill :- $100 for 2 handphones.
Conservancy Fee - $96 for 2 HDB - my parents and my own
Starhub TV and optic fibre - $66
Hospitalization insurance with UOB - $25.47
Aviva SAF accident term insurance - $8
Petrol for my motorbike - $60
Parking for motorbike for both my parents and my place - $26
PUB for my parent HDB - $110
Daily meals - ($12 for 5 pax, 2 meals per day) + ($5 for breakfast for 5 pax) * 31 days = $900.

Total cost me $1943.78

Left me $415.22 ..

5 in my family , 1 aged 73 dad, 1 aged 69 mother, 1 foreign wife, and 1 new born - 55 days.

 

[MBoI1986]

I am drawing $2950.

After deduction remains $2359.

I am paying as follows per month:-

MCSA + ITILv3 : RCV :- $555.75
HDB - $488
M1 Bill :- $100 for 2 handphones.
Conservancy Fee - $96 for 2 HDB - my parents and my own
Starhub TV and optic fibre - $66
Hospitalization insurance with UOB - $25.47
Aviva SAF accident term insurance - $8
Petrol for my motorbike - $60
Parking for motorbike for both my parents and my place - $26
PUB for my parent HDB - $110
Daily meals - ($12 for 5 pax, 2 meals per day) + ($5 for breakfast for 5 pax) * 31 days = $900.

Total cost me $1943.78

Left me $415.22 ..

5 in my family , 1 aged 73 dad, 1 aged 69 mother, 1 foreign wife, and 1 new born - 55 days.

Hi Bro, do u need to provide for ur foreign wife's family?

 

[marnee]

Yes but I learnt something very valuable throughout the years. In life its not how much you earn, but how much you save that matters.

I know of people who earn similar income but who have dug themselves into a nice deep hole. Or people who are just on the edge of that hole. All you need is a financial crisis and the house of cards fall apart.

So true indeed!

 

[The_Davis]

I am drawing $2950.

After deduction remains $2359.

I am paying as follows per month:-

MCSA + ITILv3 : RCV :- $555.75
HDB - $488
M1 Bill :- $100 for 2 handphones.
Conservancy Fee - $96 for 2 HDB - my parents and my own
Starhub TV and optic fibre - $66
Hospitalization insurance with UOB - $25.47
Aviva SAF accident term insurance - $8
Petrol for my motorbike - $60
Parking for motorbike for both my parents and my place - $26
PUB for my parent HDB - $110
Daily meals - ($12 for 5 pax, 2 meals per day) + ($5 for breakfast for 5 pax) * 31 days = $900.

Total cost me $1943.78

Left me $415.22 ..

5 in my family , 1 aged 73 dad, 1 aged 69 mother, 1 foreign wife, and 1 new born - 55 days.

is MCSA and ITILv3 a recurring payment?

 

[henrylbh]

I am drawing $2950.

After deduction remains $2359.

I am paying as follows per month:-

MCSA + ITILv3 : RCV :- $555.75
HDB - $488
M1 Bill :- $100 for 2 handphones.
Conservancy Fee - $96 for 2 HDB - my parents and my own
Starhub TV and optic fibre - $66
Hospitalization insurance with UOB - $25.47
Aviva SAF accident term insurance - $8
Petrol for my motorbike - $60
Parking for motorbike for both my parents and my place - $26
PUB for my parent HDB - $110
Daily meals - ($12 for 5 pax, 2 meals per day) + ($5 for breakfast for 5 pax) * 31 days = $900.

Total cost me $1943.78

Left me $415.22 ..

5 in my family , 1 aged 73 dad, 1 aged 69 mother, 1 foreign wife, and 1 new born - 55 days.

Very much better than me. I am living on capital.

Father 500
MIL 100
Car instalment 655
Road tax 60
Parking at home 88
Parking at office 150
Car insurance 60
Petrol 300
Car servicing 75
Conservancy charges 83
Property tax ??
SP Services 100
Kid tertiary expenses 1700
Cigarettes 300

There is no much area I can cut down on expenses except smoking or owning a car which I can't give up.

 

[The_Davis]

Very much better than me. I am living on capital.

Father 500
MIL 100
Car instalment 655
Road tax 60
Parking at home 88
Parking at office 150
Car insurance 60
Petrol 300
Car servicing 75
Conservancy charges 83
Property tax ??
SP Services 100
Kid tertiary expenses 1700
Cigarettes 300

There is no much area I can cut down on expenses except smoking or owning a car which I can't give up.

Car instalment 655
Road tax 60
Parking at home 88
Parking at office 150
Car insurance 60
Petrol 300
Car servicing 75

car related expensive is sure expensive.... ever considered switching to public transport?

 

[GenerationX]

Car instalment 655
Road tax 60
Parking at home 88
Parking at office 150
Car insurance 60
Petrol 300
Car servicing 75

car related expensive is sure expensive.... ever considered switching to public transport?

the car expense alone is almost comes to my take home pay sia..