Hi all,
Just wondering what is the percentage of the monthly take home pay (THP) do you save?
And what are your major expenses?
For us, we save about 55% of our THP. Our major expenses are the car and parents allowance.
Newbie
Hi all,
Just wondering what is the percentage of the monthly take home pay (THP) do you save?
And what are your major expenses?
For us, we save about 55% of our THP. Our major expenses are the car and parents allowance.
Ultimate Underdog
Hard to calculate. Include mortgage?
Originally Posted by Yuki
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
humm..you can exclude mortgage if its meant as investment.
Senior
THP depend on working, should look into moving into other income.
I spend more than THP every month.
Rental income 3x more than THP.
Newbie
i See. How about redefining the THP with "the income made from work and other resources such as rental, stocks dividends?"
Senior
Money save not use, depreciate with time.
Money spend to pay down property loan appreciate with time.
Should look at what money is doing than where the money is resting.
Billion are spend on infrastructure in Singapore, MONEY appreciate with time or depreciate with time.
A piece of land after you spend Billion on it, do it cost more to own or less.
:)
Major expenses are car and parents allowance? Hhhmmm... Actually all the minor expenses all add up will be more than the major expenses liao - on kids lah, food/groceries lah, utilities lah, telecom/mobile/internet bills lah, insurance lah, taxes lah, property maintenance fees lah, etc etc... Unless of cos u own more than 1 car and/or ur car(s) are big/expensive and/or they are guzzlers. Same applies to the parents. Jus kidding.
We r somewhere around ur level lah. Cos what I take home is hers (to spend), what she takes home is hers (to save). To put it in a more political correct way, we r living on a one income basis in this employment phase and the rest is meant for rainy days and living during the retirement stage. Investments capital is from the common pool fund and that's for rainy days and living during the retirement stage as well.
Newbie
I do agree with you. However, saving is the first step for safety net, then for investment. If don't save
how to invest without balancing the risks?
Investment also depends on the market cycle, be it in stocks or property. Its a very complicated situation
in Singapore right now. Put $ in banks rot away, stash away in stocks and property also limited upside now.
Newbie
true. What I meant was that car and parent allowance made up of 50% of what we spend.Major expenses are car and parents allowance? Hhhmmm... Actually all the minor expenses all add up will be more than the major expenses liao - on kids lah, food/groceries lah, utilities lah, telecom/mobile/internet bills lah, insurance lah, taxes lah, property maintenance fees lah, etc etc... Unless of cos u own more than 1 car and/or ur car(s) are big/expensive and/or they are guzzlers. Same applies to the parents. Jus kidding.
We r somewhere around ur level lah. Cos what I take home is hers (to spend), what she takes home is hers (to save). To put it in a more political correct way, we r living on a one income basis in this employment phase and the rest is meant for rainy days and living during the retirement stage. Investments capital is from the common pool fund and that's for rainy days and living during the retirement stage as well.
Junior
If including rental income as part of take home pay, I think I save about 20% of THP. Major expenses are mortgages and car, each taking up 25% of expenses...
:)
Hhhmmm... that's interesting. Car expenses seem to be a major part of the monthly expenses @ abt 25% for both our lady forummers. I'm wondering if it is becos of car loan, petrol, and/or erp...
Ultimate Underdog
He is siao on for debt. I think a balanced strategy is important even though I believe in property.
Hard to say exactly my family's figures. Spending will be on average about 60% of THP and savings about 40%. If we decide to buy car again a few years later, the figure might change slightly.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
I always find it shocking to see others spending 25 percent or more of their THP on car expenses. Mine has never exceeded 20 per cent. My car expenses now amount to less than 10 per cent of my THP partly cuz I do not have a mortgage on it anymore for years. Gonna give up my car soon once the COE expires. Doesn't make $ sense to pay exorbitant COE prices for now.
Newbie
I dun have hard a fast rule on savings. Some months I spend a lot. Some months I spend much lesser. I think on an annual basis probably ard 40 percent of THP is not spent
Newbie
poster mentioned 25% of expenses, not 25 % of take home pay.
Newbie
We r living in the world most expensive city! Don't think things gonna change anytime soon... Live a little, enjoy a little, buy a japanese or Korean ☺️ After all, we r not gonna bring anything along when we 'go'! Hahaha
Newbie
ahhhh thanks for highlighting. Now that sounds much more reasonable
Newbie
Our car expenses including car loan fuel etc etc makes up less than 10% of THP but takes up the major bulk of our expenses.
Newbie
Yes..I agree too.
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