*Official* MasterLeong Thread - Part 2

[Mr.Canberra]

INB4 SSI warriors come in to whack you --> living miserably like a scrooge

What does INB4 mean?

Takes discipline to be a Scrooge.

 

[Mr.Canberra]

think $300 is the minimum anyone need in order to survive per month, so that means you need to be earning $3750 gross or more to achieve such a feat

S$300 monthly expenditure is extremely difficult provided you stick to bare necessities, no dependents and apartment rental. Do not forget even if you are rental free but there are town council fees and utility bills also.

Can be done but must be very discipline which is what I used to practice even when I stopped working full time. Accumulated savings ploughed into property (no mortgage loan) and investments.

1) Lunch eat out daily at work.
2) Home cook dinner.
3) Public transport. No taxis.
4) Mobile pre-paid SIM card. Top up S$8.00 every 2 months.
5) Broadband Internet with free land line. S$29.00. No Cable TV.
6) Weekend eat out with a set budget.

MIDDLE AGE UNCLE. ZERO DEBT.

Scrooge lifestyle can you guys take it hahaha?

 

[L'oreal Paris]

S$300 monthly expenditure is extremely difficult provided you stick to bare necessities, no dependents and apartment rental. Do not forget even if you are rental free but there are town council fees and utility bills also.

Can be done but must be very discipline which is what I used to practice even when I stopped working full time.

1) Lunch eat out daily at work.
2) Home cook dinner.
3) Public transport. No taxis.
4) Mobile pre-paid SIM card.
5) Broadband Internet. No Cable TV.
6) Weekend eat out with a set budget.

1 3 5 6

I score 66% lol

 

[Takodoro]

What does INB4 mean?

Takes discipline to be a Scrooge.

INB4 means commenting before some one else comment.

 

[Pesantkie]

S$300 monthly expenditure is extremely difficult provided you stick to bare necessities, no dependents and apartment rental. Do not forget even if you are rental free but there are town council fees and utility bills also.

Can be done but must be very discipline which is what I used to practice even when I stopped working full time. Accumulated savings ploughed into property (no mortgage loan) and investments.

1) Lunch eat out daily at work.
2) Home cook dinner.
3) Public transport. No taxis.
4) Mobile pre-paid SIM card. Top up S$8.00 every 2 months.
5) Broadband Internet with free land line. S$29.00. No Cable TV.
6) Weekend eat out with a set budget.

MIDDLE AGE UNCLE. ZERO DEBT.

Scrooge lifestyle can you guys take it hahaha?

prepaid card can extend without topping up

 

[Mr.Canberra]

prepaid card can extend without topping up

How did you do it? Care to share your trick?

 

[homer123]

Based on the chart, it seems like I have achieved financial freedom long time ago..I have been saving 70 to 90% for my first 10 years at work. but I have a wife who has no saving.. Now I have to go back to work and save for her.. LOL

Excerpted from Investing note post:

Which also extracted from Business Times.

A rough-guide but useful chart for those are planning for financial freedom.

50% savings with 6% yield would take 11.9 yrs towards financial freedom.

 

[Pesantkie]

How did you do it? Care to share your trick?

I did it for my dad, I will share you the link. Pls wait for a while ahhh

EDIT:*398# for singtel. not sure bout starbub or m1

 

[Mecisteus]

They are putting a "nice" spin to it by saying that the building management doesn't mind. Ballz. That's no different from the old folks who sleep over in McDonald restaurants in HK.

Indirectly, management is saying that they are welcoming foreign workers to live there and leech their electricity.

 

[lewissac]

They are putting a "nice" spin to it by saying that the building management doesn't mind. Ballz. That's no different from the old folks who sleep over in McDonald restaurants in HK.

Nevertheless, they gain good publicity as well from it. Free marketing

 

[havetheveryfun]

Based on the chart, it seems like I have achieved financial freedom long time ago..I have been saving 70 to 90% for my first 10 years at work. but I have a wife who has no saving.. Now I have to go back to work and save for her.. LOL

guess finding a good wife who share the same ideals as u is important if u want to go on this path of financial freedom?

 

[blackvice]

Nevertheless, they gain good publicity as well from it. Free marketing

When they stay, inevitably they will spend inside the building.Thats business for the mall as long as they don't make trouble.

 

[havetheveryfun]

S$300 monthly expenditure is extremely difficult provided you stick to bare necessities, no dependents and apartment rental. Do not forget even if you are rental free but there are town council fees and utility bills also.

Can be done but must be very discipline which is what I used to practice even when I stopped working full time. Accumulated savings ploughed into property (no mortgage loan) and investments.

1) Lunch eat out daily at work.
2) Home cook dinner.
3) Public transport. No taxis.
4) Mobile pre-paid SIM card. Top up S$8.00 every 2 months.
5) Broadband Internet with free land line. S$29.00. No Cable TV.
6) Weekend eat out with a set budget.

MIDDLE AGE UNCLE. ZERO DEBT.

Scrooge lifestyle can you guys take it hahaha?

not just rent free but utilities and broadband must be shared among the household members lo then can

 

[Layers]

actually, I went to count and there's some truth to it

say you take home 3k, and save 90% of it, which means you only spend 10% of it - $300. So in a year you would need $3600. and you save $32400.

at 7% yield, $32400 gives $2268. So you only short of ~$1400.

In the 2nd year, you would get $4536 if you continue to earn and save the same amount. So if you still only spend $3600 a year, financially free loh !

think $300 is the minimum anyone need in order to survive per month, so that means you need to be earning $3750 gross or more to achieve such a feat

Food transport bills plus some other spending Minimum already abt 650 liao.

Have plus parents $. Supplements, insurance, etc.

2015 I manage to save 75%
2016 I manage to save 11%

No doubt I spend more in 2016 haha. Holiday, insurance, health issue, increase in food spending.

2017 aiming to hit 40 to 50%

Sent from Sony E6853 using GAGT

 

[lewissac]

Food transport bills plus some other spending Minimum already abt 650 liao.

Have plus parents $. Supplements, insurance, etc.

2015 I manage to save 75%
2016 I manage to save 11%

No doubt I spend more in 2016 haha. Holiday, insurance, health issue, increase in food spending.

2017 aiming to hit 40 to 50%

Sent from Sony E6853 using GAGT

Try DIY for Breakfast/lunch and dinner. That would bring down the dining expenditure by 60%.

 

[tanjiakpeng]

You guys owe me $1.20 for this. LOL!

got electronic copy link bo?

 

[havetheveryfun]

Food transport bills plus some other spending Minimum already abt 650 liao.

Have plus parents $. Supplements, insurance, etc.

2015 I manage to save 75%
2016 I manage to save 11%

No doubt I spend more in 2016 haha. Holiday, insurance, health issue, increase in food spending.

2017 aiming to hit 40 to 50%

Sent from Sony E6853 using GAGT

try break down everything ? then maybe the "scrooge" uncles here can help you to see which one is unnecessary or can replace with cheaper option

 

[MasterLeong]

Based on the chart, it seems like I have achieved financial freedom long time ago..I have been saving 70 to 90% for my first 10 years at work. but I have a wife who has no saving.. Now I have to go back to work and save for her.. LOL

U left the work force how long then when back?

 

[L'oreal Paris]

14 days more!! I think
TQ5 TQ5

 

[madtari]

I hope it drop down to 1.5 b4 xd!

14 days more!! I think
TQ5 TQ5