Monday, 6 July 2015

How to Save More Than $100,000 Before 30 (Without Working in Finance)



I remember when I was a kid, there was a man in front of me in the POSB ATM queue who forgot to take his receipt before he left. Before I threw it away, I couldn't help but sneak a glimpse at the receipt, and I remember being awed by the account balance I saw - over $180,000!

For those of us who are a bit more financially-savvy, it is a common goal to aim for $100,000 in savings before we are 30 years old. Of course, as Budget Babe, I hope I can reach this goal sooner by starting earlier and saving more. But when I talk to many of my friends about savings, many often shrug me off with how they aren't able to save as much as investment bankers.

"I earn too little" is but a lousy excuse. Comparing ourselves to investment bankers is even worse. If you're that unhappy about how much your current job pays you, then go ahead and work in an investment bank!



The truth is, it really isn't that hard for a fresh graduate to save $100,000 before he or she reaches 30. The problem lies in how badly we want to achieve this, and lack of action most of us take towards achieving it. But it is not impossible.

If you're like me, and investment banking is not really your cup of tea, here's how we can still do it.

1. Aim to save 50% of your take-home pay.

This is much easier to do than it sounds. Assuming a monthly salary of $3,200 (the median salary for fresh graduates in 2014, i.e. more than 1 in 2 graduates earn this amount):



Getting $1,280 to spend each month doesn't require you to give up your social lifestyle or to scrimp like a beggar. In fact, remember when we used to only spend $500 a month during our university days?

2. Save your bonus (instead of spending it).

Too often, many of us jump at a luxury item to reward ourselves at the end of a long working year once our bonus comes in. If you're able to exercise some self-discipline and put that straight into your savings account instead, you'll be able to increase your savings much faster.



3. Park your money in a good savings account.

Most of us financial bloggers have (some) of our money in a OCBC 360 savings account, which offers 1% interest rate if you direct credit your salary via GIRO each month, and another 0.5% if you pay at least 3 bills monthly via your account. 

You can easily chalk up 3 bills by paying for your (i) telco bill (ii) monthly insurance (iii) other bank's credit card. 

Assuming an annual interest of 1.5%, your savings in 5 years will look somewhat like this:


If you've only just started working (age 23 - 26), that's $126,500 in savings alone before you even hit 30!

Of course, the hard part is in being disciplined. But as you've just seen, you don't have to be earning an investment banker's salary in order to save that much. An average graduate salary will suffice, and most jobs today will be able to give you that. 


Instead of complaining about how little we earn, let's first start by controlling our spending. Furthermore, the 20s are our best years to save, before the financial commitments of having a family and house mortgages start kicking in. 

Growing rich is not an overnight affair. But if we start small and stay disciplined, I believe we'll get there together.

P.S. Budget Babe didn't start off with a $3,200 salary, nor do I receive any yearly bonuses. If I can save $20,000 a year, so can you :)

With love, 
Budget Babe

86 comments:

  1. Interest rate for crediting of salary is at 1.2%. Though not everyone will be able to get it if they don't have 2k salary to credit, or if they are not paid that way.

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    1. Thanks for clarifying Wei Jian! I forgot to include that after the change it is now 1%. Also, another reader also pointed out on Facebook that this only applies for the first $60k (but that can easily be solved by moving the funds around to fixed deposits after).

      I'm not paid by GIRO either so I don't get that 1.2% every month :(

      Delete
    2. 1.2% is Less,why dont you put your savings in an insurance company under investment policy which can generate about 8%-11% depending on your funds performance:)

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    3. I've already written about this before. The projected returns are not guaranteed. Here's the historical fund performance of insurance companies in Singapore, you can see that the returns are not as fantastic as what the policies are marketed to be.

      http://sgbudgetbabe.blogspot.sg/2015/12/this-is-7-year-historical-fund.html

      Delete
  2. What about paying off student debt? I don't think 50% of students have scholarships...

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    1. I have a 10k student debt to pay off (which I'm still paying off every month) AND my first job for almost a year was WAY below the median salary. Does that answer your question?

      Delete
    2. I'm talking about your target audience, not you... I'm saying that since you're talking about the median graduate, you also have to consider the costs for the median graduate. I'm probably not the median graduate as for me I have a 30k student debt to pay off. And my job salary is also way less than the median, and I have no bonus. So to save 50% of my pay would mean I have to pay off my debt slower and incur more interest.

      Delete
    3. Aha! A fellow non-median graduate who earns lesser than the average with no bonus. But I still managed to save, and with your attitude + the fact that you're here on this blog, I'm pretty sure you can too! Maybe not 50% of your pay immediately, as the TFL interest rates are quite high so it's wise to first pay that off (I have a post on this, not sure if you've seen it before). In fact, it would be better to first pay off your TFL before starting to save aggressively :)

      Delete
    4. I totally agree with BB.

      I'm graduated 5 years ago at the age of 25 with a starting salary of 3K with slow increments through the years (< 5%). Even with a 40K tuition fee loan (fully repaid on 3rd year), I estimate that I will reach 80K of savings by end of this year. I'm 30 this year.

      It takes discipline and being prudent in your spending. I'm not saying to save till the extent of depriving yourself of basic pleasure in life like travelling overseas or spending on occasional indulgences. I've travel overseas every year but I minimize my spending. I go to nearby countries on backpack and stay in cheap hostels. That said, I do not have a car and I'm still living with my parents. I give my parents 10% of my salary as allowances.

      The point is, it can be done and it is definitely possible although it requires a lot of self-discipline. Aim for 100K. Even if you don't reach it, 80K is still a decent figure.

      Delete
    5. OWQ, you can check out the comments below as well to see how other students have managed to pay off their student loans quickly upon graduation (discipline is the keyword), and are well set on their way to achieve this 100k milestone :)

      Delete
  3. Don't need to give parents money meh?

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    1. So quick to assume? I've already stated many times before, I give my parents $200 each a month. That's $400 in total.

      I know of peers who give less / don't even give their parents money at all, and still don't manage to save that much either. Where did all that money go, I wonder?

      Delete
  4. It's possible to spend less than $1,300/mth while giving $700/mth to parents, and still having a life.

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    1. Amen. It's incredible how many people are quick to jump to conclusions and make excuses so easily (but I need to give parents money, I need to pay this pay that, blah blah blah). Like what Gertrude Stein said, too many people never want to do what it takes to get rich.

      Delete
  5. I've been there n done that

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    Replies
    1. Thanks for speaking up Faith! How long did it take you to hit 100k?

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  6. I think we can achieve that $100k target in 7 yrs time.

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    1. Depending on income and expenditure. I know of people who managed to reach this before 26 / within 3 years. I don't think 3 years is possible for me given my income and financial commitments now, but before 30 should be possible if I continue to be disciplined :)

      Delete
    2. before 26? i just graduated from Uni @ 26 yrs old.. NS =(

      but its true by 30 yrs old should hit 100k savings... i am 30 this year and after getting bonus in Dec should hit 100k =). looking back, i regretted overspending when i was younger due too much happy hour with colleauges . Otherwise , can hit 100k earlier. =)

      Delete
  7. I will start my university in a few months time and I will working part time till then. I have been giving a sum of my salary to my parents and saving half of them. I think it is vital to learn and start saving from young to cultivate the habit. I am looking forward to my $100,000 before reaching 30. Thanks for the great advice given! :)

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    Replies
    1. Wow, considering that you've already started before entering university, I think you'll be able to hit 100k before me! I had quite a bit of financial obligations before I could start aggressively saving so it's only in recent years that I managed to really ramp it up.

      Excited to see and hear back from you on your financial update in the near future! :)

      Delete
  8. Very informative and useful tips.
    Cutting down expenses is also a good way to save. Cut down from taxi ride, cafe meals, branded stuffs, these 'small money' will snowball to big if you keep them. Many tend to overlooked these 'small
    Money'. Start with small amount to save, $100,$200, its better than not starting at all.

    ReplyDelete
    Replies
    1. Agreed! Starting small trains our "savings muscles" which get even better over time :D after all, even Warren Buffet said not to under-estimate the value of a dollar!

      Delete
  9. Hi BB,

    Good post to show people that if there is a will, there is a way. However, most people just find it too daunting and just never start. I like the quote, "The journey of a million miles begins with a single step".

    I find that having income tax paid monthly through GIRO helps in 2 ways - by fulfilling 1 of the 3 GIRO transactions and also making use of the payment schedule as free financing to earn interest on that amount. While the interest on the amount might be small stuff to us starting out, it will probably be increasingly useful the further along we progress in our careers as wage increases also means more taxes to pay.

    ReplyDelete
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    1. Hi GMGH, good to hear from you again!

      Great tip on the income tax payment! Are you able to pay monthly though? I've only received annual payment requests thus far, but then again I haven't been working that long either...

      Delete
  10. Thank you for your helpful and enlightening post! Thanks for sharing your experience with us and encouraging us to save up. To those who read, kindly be mature enough to not use negative comment, if you think it is not applicable to you just go your way. If you want to learn more and genuinely want to enquire, take it with a stead and know that this is one of the methods, and it keeps you disciplined as you would after setting aside savings first! prioritise your spending to essentials as mentioned, paying bills and being fillial children to give our parents a portion in goodwill, after a couple of months, once you are motivated when you see the amount, would be more motivated to save more. With high living expenses, rapid inflations, competitions, more foreigners coming in, it is best to plan ahead and if not a direct solution, still having something to fall back on, rather than falling into debts. Thanks for your generosity to our fellow sgeans once again!

    ReplyDelete
    Replies
    1. Thanks for helping to speak up :') I hope you find my tips useful! If you've any to share with me, do write in as well so I can share about them with other readers too :)

      Delete
  11. Seems like income tax doesn't apply to any of you lol. But anyway, after deducting student loan, cpf, income tax, daily necessities, money for parents, and let's assume zero outlay for entertainment, I think it's quite hard to save 50% of your income. 40-45% is a more realistic target. Take into consideration that everyone's financial obligations are different, for example: you live further away from work and therefore higher transportation cost, studied overseas and your student loan is more than your peers, parents require monetary assistance from you to survive, etc.

    In my opinion, we shouldn't focus on how many % we save from our salary, but rather the absolute amount we take home. To achieve your goal of having (not saving) $100,000 before 30, you might want to work two jobs at the same time, could be part time tuition at night or anything you could think of. Now some might complain about less leisure time, but in reality it's always no sacrifice no gain. Also, you might consider ways to grow the money you earned through investments or starting a small business. Just my two cents.

    ReplyDelete
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    1. Hi Derick,

      Actually, the first year of work has no income tax. But for my second year of work, my income tax wasn't a lot either (maybe because I don't earn that much!). You have a point about the percentages though, and to be fair, I didn't start off immediately with 50% - that took me 2 years to build up to. In the very beginning I could only afford 30% because of how low my salary was vs financial obligations.

      And totally agreed on finding other income sources :)

      Delete
  12. Hi, I think you calculated wrongly in your table for the 3rd section.. It's 1.5% right? But I calculated, I think you only used 1.05%. So actually should be able to save more?

    ReplyDelete
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    1. Hi Jasmine,

      You might be right! I forgot which one I used, it was an online calculator that generated the yearly returns for me :P I'm pretty sure you're gonna save a lot!

      Delete
  13. Hi,
    You don't need to save.
    You need to invest.

    Feel free to add me as your friend.
    https://www.facebook.com/LeverageOnMe

    ReplyDelete
    Replies
    1. Hi Jack,

      I think both are equally essential! Saving on its own is not sufficient, so yes investment is definitely important too. I've just started on investing earlier this year, do guide whenever you can!

      Delete
  14. Frugality ,Patience & Discipline are the keys to accumulate a huge saving.But with savings alone will not bring one's far .We have to use our saving as a base capital to invest to let it grow & see the compounding effect in action.Some ppl give up half way but for those who persist will be enjoying the fruits of their labour .There is a Chinese saying "先苦后甜“

    ReplyDelete
    Replies
    1. I live by that saying too :) Asian values are pretty awesome.

      Delete
  15. I'm footing all of my household's bills, inclusive of necessary expenses i.e. groceries and insurances, and still manage to set aside half of my take-home pay for savings and investments. Some thing's gotta give regardless of anyone's financial situation, and more often than not it's one's ego more than anything else.

    Someone going by the name of Will Smith was once quoted - "“We spend money that we do not have, on things we do not need, to impress people who do not care."

    The earlier you realize that, the faster you'll be able to realize the possibility of what seemed to be impossible. Ganbatte!

    ReplyDelete
    Replies
    1. YOU'RE an inspiration. Footing all of your household bills must not be easy!

      Delete
  16. Thanks BB for the tip.

    Coming to the big 30 end of this year, and might miss the target slightly. But nonetheless, I agree with most of the things you said.

    I'm currently financing a motor loan and I'm slightly above the median wage. That said, if you want to save most of your income, you just need to spend lesser on your entertainment. Most of us can't save not because they can't, but they come up with reasons and wave the white flag almost immediately.

    ReplyDelete
    Replies
    1. Hi Terence,

      You're missing it because of your motor loan? If so then you're still on track in a way :)

      Agreed. It seems more daunting than it is, too. The hard part is starting. But once I saw my savings grow, I became more motivated to save even more.

      Delete
    2. Hi BB,

      That is right. Was a painful experience to know that maintaining a vehicle here is no easy feat. That said, can't wait for the vehicle to be scrapped off, though there's another 4 painful years to go though.

      Delete
  17. I've just read today's Sunday Times and you're finally featured, congrats! Been an avid reader of your blog and a strong believer in frugality. Keep pushing on.

    Oh and those critics with their disparaging remarks? Well, a statue has never been built in honor of a critic. :)

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    1. Thank you! I see that we both invest in SingPost ;) Can't really understand much from your blog posts though - means I need to buck up on my investing knowledge do guide me wherever you can!

      Delete
  18. Very informative article. Good job, Budget Babe. Shared it with my readers.

    ReplyDelete
  19. How much have you save for the past 6 month in Year 2015?
    How long have you been working and do your expenditure increase over the years?

    ReplyDelete
    Replies
    1. Hi ZH,

      I've not done a comprehensive half-year review yet. Usually do it as a full-year review, so I'll have a better idea by December.

      I've been working for about 2 years and my expenditures have not increased.

      Delete
  20. Hello just wanna to say is
    It's actually possible to save $30k in 2 years time. Was having a pay of 1.8k to 2.2k, done it and spend it all on my uni fee + few weeks oversea for uni. Didn't spend much of my bonus, its just only 1 mth bonus though, give some to parents and keep. Cause its for my uni fee.

    The expenses which I had that time is parents allowance + poly loan + myself +misc expenses.
    But this one doesn't include much insurance, 1 policy was still paid by my parents then or mobile bill. So if I minus those off, estimated 2 years is still able to achieve $20k, is still possible to get $100k in 10 years.

    However do take note that is not about saving. Is about how u manage ur financial cash flow.

    Learn on financial literacy, financial literacy is not about saving only, its about spending on the needs, protect your self, growing your wealth. For investment wise, there r many tools, understanding about them helps you to obtain lesser risk to 0 risk. Some investment might be active control by you while some might be done by others. That way u can see better result too.

    And see maybe if there is a chance can share u with some ideas :)

    ReplyDelete
    Replies
    1. Hi Katie,

      Sure, please email me any ideas you have, I would love to hear them :) my email is at the bottom right-hand corner of this blog!

      Delete
  21. Hello just wanna to say is
    It's actually possible to save $30k in 2 years time. Was having a pay of 1.8k to 2.2k, done it and spend it all on my uni fee + few weeks oversea for uni. Didn't spend much of my bonus, its just only 1 mth bonus though, give some to parents and keep. Cause its for my uni fee.

    The expenses which I had that time is parents allowance + poly loan + myself +misc expenses.
    But this one doesn't include much insurance, 1 policy was still paid by my parents then or mobile bill. So if I minus those off, estimated 2 years is still able to achieve $20k, is still possible to get $100k in 10 years.

    However do take note that is not about saving. Is about how u manage ur financial cash flow.

    Learn on financial literacy, financial literacy is not about saving only, its about spending on the needs, protect your self, growing your wealth. For investment wise, there r many tools, understanding about them helps you to obtain lesser risk to 0 risk. Some investment might be active control by you while some might be done by others. That way u can see better result too.

    And see maybe if there is a chance can share u with some ideas :)

    ReplyDelete
  22. Hello just wanna to say is
    It's actually possible to save $30k in 2 years time. Was having a pay of 1.8k to 2.2k, done it and spend it all on my uni fee + few weeks oversea for uni. Didn't spend much of my bonus, its just only 1 mth bonus though, give some to parents and keep. Cause its for my uni fee.

    The expenses which I had that time is parents allowance + poly loan + myself +misc expenses.
    But this one doesn't include much insurance, 1 policy was still paid by my parents then or mobile bill. So if I minus those off, estimated 2 years is still able to achieve $20k, is still possible to get $100k in 10 years.

    However do take note that is not about saving. Is about how u manage ur financial cash flow.

    Learn on financial literacy, financial literacy is not about saving only, its about spending on the needs, protect your self, growing your wealth. For investment wise, there r many tools, understanding about them helps you to obtain lesser risk to 0 risk. Some investment might be active control by you while some might be done by others. That way u can see better result too.

    And see maybe if there is a chance can share u with some ideas :)

    ReplyDelete
  23. Can include CPF? :p my cash + stocks + CPF > 100k. I'm targeting 100k of cash+stocks end 2016 though. Turning 25 this year.

    Anyway bottomline is what you're saying is definitely possible. :)

    ReplyDelete
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    1. Oh and no debt. I paid off my student loan in about 1.5 yrs after graduation.

      Delete
    2. WOW you're even more amazing than I am!

      Delete
    3. I have to agree with BB that TYL's achievement here! Looks like this is the next blog post after your 20k savings in a year generating much attention and fanfare =)

      I should be able to achieve this 100k milestone before age 30 by this year end if I include cash on hand and equity investment only (exclude CPF since it is locked up for retirement). Your first tip is the most important on able to have a good savings portion of at least 50%.

      Before I forget, you should put your interview as a permanent blog post :p
      http://business.asiaone.com/personal-finance/investor-profiles/budget-babe-pays-value

      Delete
  24. Hi BB,

    Great article you got here! I came to your humble blog about saving 20k a year and this article is really give me a good evaluation of myself financially as I reaching 30.

    I started work in mid 2011 below the median salary. Being young and a newbie, it easy to save more than 50% due to lesser commitment and better willpower to save. The motivation to save more really was a driving force for me previously. However, as times goes, the will power to save slowly diminished due to improved lifestyle and more commitment etc. I managed to save up my emergency fund of 6 months of my starting salary in 1.5 years. However, that comes with some sacrifices like no holidays, save up money going for lunch ($3 budget). My last holiday was in 2013.

    As I am reaching 30, I am able to hit the 100k milestone by the end of the year. Also I currently saving up for my part time master degree as well.

    The thing that I learnt from this is:

    1) Know about your expenses - Do a quarterly/monthly review on the things you spent.
    2) Have a yearly financial goal - This help me keep in line of what I want to achieve for the year.
    3) Pay yourself First - I do standing instructions/recurring transfer to this separate account so that I can spent without any guilt.
    4) Find the best saving account for yourself - Currently I using OCBC 360 as a salary account.
    5) Review your insurance every 2 to 3 years - To have a better understanding on what you are covered and how much
    6) Invest - I using a ETF DCA method on Singapore Stocks. (I read blogs like cheerful egg, turtle investor etc.)

    The journey to saving is not a easy task, but it is rewarding and it helps in disciplining myself to spending.

    ReplyDelete
  25. Hi babe. Our entire life is the result of a series of conscious decisions we made each time we were faced with choices. If your future self isn't going to thank you for what you're doing today, shape up. Few people who currently suck at life got to that state overnight. The points you have highlighted serve anyone with cash flow, regardless of annual income. I have a lawyer friend with no savings. That alone says a high income is not the solution to amassing wealth.

    ReplyDelete
  26. Savings, FD and other similarly low interest bearing "investments" erode the vale of money given that inflation is at least twice that of such interest returns.

    An option to consider is to top up your CPF Special Account; you get better returns and also income tax relief for the voluntary contribution to your own Special Account. The main disadvantage is you won't get to withdraw that until you hit 55 and mange to save more than the prevailing minimum sum by then.

    ReplyDelete
  27. I saved 45k in half a year. By end of 2015, i would have chalked up roughly 75k. It is not about how much u save actually. no doubt the habit of savings is needed. but in my perspective, is more of how much u grab hold of opportunities to expand your net income instead of just pure saving. Doing a 8-5 job will get you your 100k in 5 years yes, but have you thought of actually shortening it to 1-2 years?

    ReplyDelete
    Replies
    1. Hi Xiaonikki, wow that is really impressive, but 45k in half a year of savings is almost impossible for me even if I were to extend that to 12 months, because I barely even earn that amount in an entire year's worth of salary.

      Can you share how much your annual income is, in order to save up that much?

      If you've ideas on shortening it, I certainly wouldn't mind hearing them! :) You can email me at my contact below.

      Delete
  28. Nice article. I have done a spreadsheet with the parameters from here (assuming Bonus is paid in December) with updated rates and ceilings from OCBC:

    https://docs.google.com/spreadsheets/d/10lKlp1Ki0C6D9jROrPULndr7-Ifps4r2OvTN8HVPynE/edit?usp=sharing

    ReplyDelete
  29. This comment has been removed by a blog administrator.

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  30. Totally possible. Managed to work and pay off Part time Uni in 2 years totalling $27,000 based on a income not more than $2k+++(OT added in). Entirely possible with the right discipline, but at times where necessary, spend some on yourself and friends. I also give my parents $500 every month while saving $1.2k each month to pay school fees, the rest is used for expenses.

    ReplyDelete
    Replies
    1. Good on you for paying off your 27k uni loan! I've been advising my mom and sis to pay off her OCBC loan in the shortest time possible too, so you don't get eaten up by the interest rates. Great discipline :)

      Delete
  31. I used to work in security line as an Escort Officer for Atm servicing...as u guys know security line dont earn much right? So basically the company will pay 2 times in a month which is an advanced pay. What i did is i save my advanced $500 pay every month without touching it.i hit 18k for 3 years after my contracts end. How happy i am that i managed to save all my hard earned money and now i got myself a new environmental job as a Range Warden in army camp. I still continues to barn my $500 into the savings acc although the company doesn't pay much. After settling all utillities bill i left around $400+ and it is enough for me to survive my daily meals and etc seriously...whoever earn 4k per month and u barn 2k its more than enough if u dont spent much lah...lol �� Nice topic actually for today and its my pleasure to share with u guys....����

    ReplyDelete
    Replies
    1. Thanks for sharing! Great saving discipline :)

      Delete
  32. I used to work in security line as an Escort Officer for Atm servicing...as u guys know security line dont earn much right? So basically the company will pay 2 times in a month which is an advanced pay. What i did is i save my advanced $500 pay every month without touching it.i hit 18k for 3 years after my contracts end. How happy i am that i managed to save all my hard earned money and now i got myself a new environmental job as a Range Warden in army camp. I still continues to barn my $500 into the savings acc although the company doesn't pay much. After settling all utillities bill i left around $400+ and it is enough for me to survive my daily meals and etc seriously...whoever earn 4k per month and u barn 2k its more than enough if u dont spent much lah...lol �� Nice topic actually for today and its my pleasure to share with u guys....����

    ReplyDelete
  33. My husband really earns too little. 1k a month, our baby formula already 200-300 a month. Transport plus his lunch & bills..there is nothing left to save. We are happy if we don't go broke before the month ends.

    ReplyDelete
    Replies
    1. Hi, there are ways to generate sideline income which you can do to try and supplement your husband's income! For instance, you could do paid surveys which can give anywhere between $30 - $200 depending on the project and company executing the research. Hope that helps!

      Delete
  34. What is the point of having $100k in the bank? That is the typical mindset of so many asians. Set aside enough money in the bank for 6-10 month worth of expenses, make sure you have proper insurance in place to manage unforseen circumstances and then let the rest of the money grow in bonds, stocks, funds, real estate or businesses! Create passive income! That is the way to financial freedom. If you are unsure, go meet a proper financial adviser!

    ReplyDelete
    Replies
    1. Yes! This is a good plan to save money but you have to make it work for you once u have a substantial amount. Saving money is no longer enough. You're losing money each second u have it in the bank. We all have to race against inflation.

      Delete
    2. I put my savings into the bank, CPF and investments :)

      Delete
  35. Hi,this is a good topic and I know of a way to get 5% at least from our deposit and it's guaranteed and not difficult to do.whatsapp 96567451

    ReplyDelete
  36. Replies
    1. I have foreigner friends who pay rent and still manage to save :) if your rent is high then either find a cheaper place, share a room, or increase your income. Various ways of coping!

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    2. thanks for the reply, do you pay rent yourself?

      Delete
    3. This comment has been removed by the author.

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  37. Wat about giving parents allowance? Insurance expenses which I suppose you are not paying when you are schooling.

    ReplyDelete
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    1. I give my parents $400 monthly and pay my own insurance expenses.

      Delete
  38. Hi! Thank you for this informative article. I'm graduating this May and like many others have TFL to pay and a huge family to feed. Just to check, do you have any specific plans for your savings?

    ReplyDelete
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    1. Specific plans as in? I do various things with my savings including putting in CPF for the high returns and also investing (not trading). If you're curious you can read more about them in my other blog posts :)

      Delete
  39. This comment has been removed by the author.

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