How much household income is enough?

[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.

[Funz]

For most families, $10K income is comfortable I guess. But to give up $10K income, that is A LOT.

[Canvas]

Funz:

For most families, $10K income is comfortable I guess. But to give up $10K income, that is A LOT.

I think so too. Unless of course the husband earns much more. Maybe our culture is still conservative. In many countries, it may not be the wife staying at home with the kids. Usually it is decided by who earns more and who can handle the children better.

[MMM]

KSP:

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....

Yah I supposed so as well.

There are alot of people around us that is in the 10k+/ month range per person and frankly, I wouldn't think that is upper middle income or rich. After paying for housing, car, kids' enrichment, taxes, etc... you still dine at market. You will still think twice/ thrice before splurging. Yes, you will have savings and you do not need to scrimp to the next payroll and financially, you do not really have to worry with that kind of income. But.... it doesn't mean you can lead a luxurious lifestyle either.

I supposed a rich is someone who spend money without the need to think :? In any case, there is the saying that the richer you are, probably the more thrifty you are.