Me Time!
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Nebbermind\" post_id=\"2078430\" time=\"1660535516\" user_id=\"15571:
Then don't go to such places.....
If they don't own a car, I think most of the money will only go to food, clothings and entertainment. I think really depends on their lifestyle...some industries frown upon you when you don't dress or carry branded stuffs. -
My dad’s advise long ago when I started working. For a start, for the 1st year put aside at least 30% of your mthly income. Then progressively, aim to save 30%, invest 30% and daily expenditures, keep within the balance. Savings is used for buying that special item or holiday or for rainy day situation. Another piece of advise he gave, aim to keep up to 6mths’ expenditure amount in your savings account. This is for when you are in between jobs for whatever reason.
Other people may have other nuggets of financial wisdom but these were some of the things that my dad told us. -
Liew Nga Wing\" post_id=\"2078460\" time=\"1660544854\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2078460 time=1660544854 user_id=195250]
banking grads go to banks/ private banking tec, where outside materials are a need for them to package n present themselves.
Then don't go to such places.....[/quote]
during my time, i saved 70% of salary. I am not sure whether youngster can do this now ,
their commitments are higher than ours. a hdb flat is already so much more ex compared to our time. -
MyPillow\" post_id=\"2078469\" time=\"1660548819\" user_id=\"70594:
Haha..I wanted to say more than 50% but somehow feel abit 'reserved' to say it.. yea..our time really can save money I find. Things were cheaper.
banking grads go to banks/ private banking tec, where outside materials are a need for them to package n present themselves.
during my time, i saved 70% of salary. I am not sure whether youngster can do this now ,
their commitments are higher than ours. a hdb flat is already so much more ex compared to our time. -
Funz\" post_id=\"2078468\" time=\"1660548431\" user_id=\"6230:
Another thing we have dinned into our daughter's heads is that they should avoid \"buy now pay later\" and getting into credit card debt. Borrowing to buy a house is the main exception, and a car if one is really necessary for work (i.e. it is in a way \"income generating\"). Otherwise, they should save up first, then buy. Getting into debt to go on fancy vacations, buy luxury goods, eat in swanky restaurants etc. is a slippery slope.
Other people may have other nuggets of financial wisdom but these were some of the things that my dad told us. -
MrsKiasu\" post_id=\"2078472\" time=\"1660549165\" user_id=\"43981:
i think it depends on how disciplined the person is at the point of time .
Haha..I wanted to say more than 50% but somehow feel abit 'reserved' to say it.. yea..our time really can save money I find. Things were cheaper.
after married, paying off all big tickets like honeymoon, renov, wedding . dh n me also saved 70% too , housing is fr CPF.
initial yrs, we went humble resorts for holidays , so our nest can save up faster.. -
MyPillow\" post_id=\"2078469\" time=\"1660548819\" user_id=\"70594:
There are ways to save money and still look good if they are willing to buy 2nd hand, look for bargains, etc. No actual experience, but this is what I hear from the younger lot. Luckily, both my daughters are not in that kind of job.
banking grads go to banks/ private banking tec, where outside materials are a need for them to package n present themselves.
during my time, i saved 70% of salary. I am not sure whether youngster can do this now ,
their commitments are higher than ours. a hdb flat is already so much more ex compared to our time.
I know I saved most of my salary other than transport and lunches in the first few months of working as my parents wouldn't take my money as I was planning to get married within the year (and then a lot of it got spent on wedding and renovations). And after I got married, I think we lived on my husband's salary (higher than mine) and saved my take-home pay. HDB flat prices are the main difference for young couples, I feel - my girls' starting pay was slightly more than double what mine was in dollar terms, but the price of HDB flats bought from the HDB is about 5-6 times! -
I believe in spending within your earning power. And that goes both ways, don’t overspend and don’t underspend either.
If your income allow you to travel in biz class or 1st class, don’t compete with the rest who cannot afford and fly economy. If you have the flexibility of going to work after peak hours in your chauffer driven car, please do that and don’t come and squeeze with the rest of the people taking public transport during peak hours. When you can afford to pay for your education don’t apply for scholarship just because you can.
Being thrifty may not be a virtue in every scenario. -
slmkhoo\" post_id=\"2078474\" time=\"1660549946\" user_id=\"28674:
Buying a car makes no sense in Singapore, with the mrt being available practically everywhere now. You may think that having a car saves you time... but if you factor in the cost of owning a car, buying gas, paying road tax, parking, summons, etc... it really makes no sense for the \"time you saved\". Better to invest in a pair of nice wireless headphones, and play with your phone on the MRT. I find it more relaxing to travel without a car.
Another thing we have dinned into our daughter's heads is that they should avoid \"buy now pay later\" and getting into credit card debt. Borrowing to buy a house is the main exception, and a car if one is really necessary for work (i.e. it is in a way \"income generating\"). Otherwise, they should save up first, then buy. Getting into debt to go on fancy vacations, buy luxury goods, eat in swanky restaurants etc. is a slippery slope. -
ChiefKiasu\" post_id=\"2078497\" time=\"1660556497\" user_id=\"3:
Chief hv u tried taking mrt during peak hours or try pushing a pram onto the train? I thought the NSEW lines were horrible and the newer lines are no better post covid……. They are so crowded………after a hard day’s work, do we not deserve a good ride home where we can sit comfortably and blast our fav music…
Buying a car makes no sense in Singapore, with the mrt being available practically everywhere now. You may think that having a car saves you time... but if you factor in the cost of owning a car, buying gas, paying road tax, parking, summons, etc... it really makes no sense for the \"time you saved\". Better to invest in a pair of nice wireless headphones, and play with your phone on the MRT. I find it more relaxing to travel without a car.
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