How much household income is enough?

[daddy2007]

Imp75:

Should I stay home but hubby don't look me very up to be \"competent\" (cant drive is a minus point) enough at home and would be bored very soon, But I think I had enough at work already and would like to focus on my kids, hubby says this is escapism from work!! Really dilemma!

It also depends if you think you are the kind that can face the child or stay at home the whole day. I have a friend whose wife quit her job to take of the children. But after 3 months cannot stand this type of life and boredom and start goes back to workforce again

I think her hubby is right it is escapism from work and used as a reason to take care of the child full time. But if you think you are up to the task and why not? The child will benefit greatly and also the bonding will be very strong

[daddy2007]

toddles:

LOLMum:

they have more right to spend the $$$ than the mistress and girlfriend.

huh?! are you saying that these tai tais hubbies all have mistress and gfs?

Women always said that when men have extra money they will start to look for mistress & gfs to spend on them

[daddy2007]

toddles:

It's not escapism. it's changing focus at this season of life.

Well said :salute:
:goodpost:

[daddy2007]

cherrygal:

$10K a month is not enough for you to be a tai tai yet.

Can be HDB tai tai right? Don't go Orchard Road for high tea and shopping. Just go for snack and shopping in the suburban malls

[MMM]

daddy2007:

cherrygal:

$10K a month is not enough for you to be a tai tai yet.

Can be HDB tai tai right? Don't go Orchard Road for high tea and shopping. Just go for snack and shopping in the suburban malls

suburban malls kopi also not cheap. I think for Spore, the price of starbucks in orchard is the same as suburban mall right :? Just like the price of Mcdonalds/ KFC is the same except maybe sentosa :?

For 10k a month, maybe must go to kopi tiam for high tea.

Seriously 10k is really not enough by today's standard. But again this depends on the lifestyle and financial commitment.

5k for middle income :? Is this per household? This does seem rather low. Sorry huh not staying in ivory tower but...

Personally, I don't think I will ever become a sahm as I would feel very insecure if it is just dh bringing home the bacon. With corporate reorganisation that is happening so frequently, we never know when one will be made redundant. You might survive this round, what about the next 100 rounds????? Sometimes it's not about you or your capability but rather the role you are in is affected. So it's beyond your control.

[Imp75]

One other consideration is also that if hubby becomes the sole breadwinner, will it be very unfair for him to shoulder the family expenses?

[Lucky Dad]

Hi,


This is from census 2010:
Monthly Household Income from Work Among Resident Households2010
Average Household Income 7,214
Median Household Income 5,000

[KSP]

cherrygal:

$10K is still considered middle income, maybe upper middle. Top tier pple earn >$100K per month... like the CEOs, ministers, bankers etc... Dun compare with the poor lah


Anywayz, you should know yourself best. Are you frustrated becoz your $10K requires you to be on call 24/7? Then just get a lower stress $5K - $8K job. You must sacrifice something - status, money or sanity?

Sometimes, it's the way we handle our bosses, subordinates etc. I know of a manager who earns >$10K but can go home at 5pm every day to cook. She is married, no kids but wants to have work-life balance. You need to tell your boss you are results-oriented.

Your DH seems against the idea of you quitting so have a heart-to-heart talk with him and find out his views before taking the plunge. That's impt as you are a team and if you quit without seeking his support, you're asking for grief.

Your salary is 50% of the household income so without it, you must make some lifestyle changes which he may not be comfortable with. Big earners become big spenders. Hard to reverse. DH commented the other day that he has become such a spendthrift (though still conservative IMO) after his income went up.

sometime back i heard from the radio while driving that in SG one is not considered rich or high earners if don't earn more than $100k/mth or not more than $1M/yr....

so guess most of us are middle income ppl....

[Canvas]

Gemini11:

dont mind me asking how much was the amount you decided on? I'm about to ask for the amount too, when baby is born, i dont want to end up :stupid: :stupid: :stupid: also lol

Everyone's expectations are different. I can drive but the schools are near and I decided that the husband will need the car more so I take the public transport. Basically the allowance I ask for covers:
-Groceries
-Kids' expenses (including enrichments if any)
-Medical
-Transportation
-Part time cleaner (once a week)
-Insurances for myself and kids
-My own use
:moneyflies:

I can never be a Taitai. Even if I sometimes play dress up, it's in my blood to eat kaya and butter toast @ Ya Kun (Wa, their Mee Rebus is da Bomb!) instead of high tea-ing at Marmalade Pantry.

[Canvas]

I agree with Cherrygal that the husband must be very supportive of the decision of the wife staying at home. If not misunderstandings will arise and everyone will be unhappy.