Are you earning an average salary here in Sillypore?

[Blackyv]

 

 

 

assume family of 4 with 2 schooling kids.

 

1) Getting a House - CPF contribution of $1500 (no cash involved)

2) Getting a car - No need

3) Education Cost -

a) $30 (for pri-jc sch) or $300 for poly

b) tuition & other enrichment $500

c) pocket money - $500 for 2 kids (including lunch in sch)

4) Public Transport Cost - student concession say $50 each, $150 each for 2 adults

5) Medical and Hospitalisation Cost -

a) average $100 per month (if stay healthy, i hardly spend more than $200 for whole family in a year)

b) health insurance - medishield by cpf with top up additional $50 per adult

c) other insurance (not for rich) - $600

6) Home expenses

a) utilities - elec/water/gas - $150

b) broadband/cable tv/ mobile for 4 - $250

c) food - weekday home cook $400/mth, dine out $400/mth

d) others - $200

7) entertainment / shopping

a) weekly/bi monthly movie & others - $200

b) average shopping per month $200 ($2400 for clothing, no gadget & phone)

the above is quite comfortable for average family income of $6000 should be ok.

You can skim further if you want, of course you can spend more for other extra wants.

then again you can see the above as hardship.

 

 

cant praise you yet but fully agree.... mine is nearly that "basic".

 

Im the sole breadwinner... wife a homemaker with 2 young child (4/8yrs).

 

1) Fully paid up 4-rm hdb.

 

2) Fully paid up 8+yrs latio. (DP for new car is ready, just waiting for timing to join the crowd)

Petrol+roadtax+maint ~ $500

 

3) Education: not much on this since son in primary only. school/Tuition/swimming/etc, ~$300/mth

 

4) public transport: less than $50/mth for wife and klds

 

5) Medical/insurance: this portion is large for me. i have coverage for all (myself,wife,2kids) with mainly medical and 1 endowment for the younger one, accident, term.. total around $1400 if im not wrong.. (some are cpf, some are cash..)

 

6) Home expenses

a) utilities - elec/water/gas - $250

b) broadband/ mobile - $150

c) lunch/dinner food - $500/mth

d) others - $100

e) Milk/drypers - $150

7) entertainment / shopping

a) weekly/bi monthly, mainly food - ~$400

8) my wife pocket money: $800

9) my own expenses : less than $500 if i dont visit amazon..hehehe..

add all these up only $5100... even after buying new car (with installment of $1200), require amount is only $6300.... 15K/mth is a lot for this basic family...

 

 

 

[Ictruall]

Rediffusion ??? Ur family quiet well to do wor.

lol, never say my parents pay leh,..... Rediffusion paid by my grand-parents one hor, I think $2 per month or something like that

.....my family 4 persons stay one small room in my grand-parents house.

[Joseph22]

lol, never say my parents pay leh,..... Rediffusion paid by my grand-parents one hor, I think $2 per month or something like that

.....my family 4 persons stay one small room in my grand-parents house.

 

Lol... Yeah those were the day...

[Jman888]

Lol... Yeah those were the day...

 

 

walau, you dun talk like you are from that era leh

[Joseph22]

 

 

walau, you dun talk like you are from that era leh

 

My Father Time mah... I was a children then lor... Staying in a 3 room flat in Boon Lay way.

[Throttle2]

 

cant praise you yet but fully agree.... mine is nearly that "basic".

 

Im the sole breadwinner... wife a homemaker with 2 young child (4/8yrs).

 

1) Fully paid up 4-rm hdb.

 

2) Fully paid up 8+yrs latio. (DP for new car is ready, just waiting for timing to join the crowd)

Petrol+roadtax+maint ~ $500

 

3) Education: not much on this since son in primary only. school/Tuition/swimming/etc, ~$300/mth

 

4) public transport: less than $50/mth for wife and klds

 

5) Medical/insurance: this portion is large for me. i have coverage for all (myself,wife,2kids) with mainly medical and 1 endowment for the younger one, accident, term.. total around $1400 if im not wrong.. (some are cpf, some are cash..)

 

6) Home expenses

a) utilities - elec/water/gas - $250

b) broadband/ mobile - $150

c) lunch/dinner food - $500/mth

d) others - $100

e) Milk/drypers - $150

 

 

7) entertainment / shopping

a) weekly/bi monthly, mainly food - ~$400

 

8) my wife pocket money: $800

 

9) my own expenses : less than $500 if i dont visit amazon..hehehe..

 

add all these up only $5100... even after buying new car (with installment of $1200), require amount is only $6300.... 15K/mth is a lot for this basic family...

 

 

 

Steady lah Brother! Respect

[Blackyv]

Steady lah Brother! Respect

 

wah... got respect from T2, i better buy 4d tonight.. 5100 and 6300 anyone wanna join?....

[Throttle2]

 

wah... got respect from T2, i better buy 4d tonight.. 5100 and 6300 anyone wanna join?....

Wah lau, friend friend, dont suan leh.

I see you also belong to the no debt group, so i salute lor.

[Tleslie]

 

cant praise you yet but fully agree.... mine is nearly that "basic".

 

Im the sole breadwinner... wife a homemaker with 2 young child (4/8yrs).

 

1) Fully paid up 4-rm hdb.

 

2) Fully paid up 8+yrs latio. (DP for new car is ready, just waiting for timing to join the crowd)

Petrol+roadtax+maint ~ $500

 

3) Education: not much on this since son in primary only. school/Tuition/swimming/etc, ~$300/mth

 

4) public transport: less than $50/mth for wife and klds

 

5) Medical/insurance: this portion is large for me. i have coverage for all (myself,wife,2kids) with mainly medical and 1 endowment for the younger one, accident, term.. total around $1400 if im not wrong.. (some are cpf, some are cash..)

 

6) Home expenses

a) utilities - elec/water/gas - $250

b) broadband/ mobile - $150

c) lunch/dinner food - $500/mth

d) others - $100

e) Milk/drypers - $150

7) entertainment / shopping

a) weekly/bi monthly, mainly food - ~$400

8) my wife pocket money: $800

9) my own expenses : less than $500 if i dont visit amazon..hehehe..

add all these up only $5100... even after buying new car (with installment of $1200), require amount is only $6300.... 15K/mth is a lot for this basic family...

 

 

 

Don't forget to give parents allowance. this amount could be comparatively huge.

[Ictruall]

Lol... Yeah those were the day...

sure were,....those former kampong days, 3-4 families in one house damn shiok to play and damn noisy with so many cousins, especially school holidays.

 

but come night only, .... each family go back and cramp in their small room

[Joseph22]

sure were,....those former kampong days, 3-4 families in one house damn shiok to play and damn noisy with so many cousins, especially school holidays.

 

but come night only, .... each family go back and cramp in their small room

Now that is too old for me.. Lol... I belong to the era where family of 10 is squeeze into 3 room flat.

[NightWind]

Thats right bro, Parents allowance as well as provisions for our own retirement are some other important expenses.

 

I can see my initial estimates of $10-15k was not well received by the bros, i am sorry, i meant no offence. Perhaps its my own insecurity la.

 

These are only my own estimates but other factors that really will chew away at the real wage are inflation and unforeseen expenses that are difficult to anticipate and provide for.

 

And yes, admittedly i confess my initially assessment does make provision for maintaining a certain lifestyle. I do not however deem these ostentatious. Some are willing for example to give up a car. Its kinda tough for a family of 4 to do without a car even here in Singapore.

 

I still send my dad to TTSH for his regular physio and having a car is really quite necessary. He had hip replacement and cannot walk without help so public transport is out of the question. I am just giving an example.

 

 

 

Don't forget to give parents allowance. this amount could be comparatively huge.

 

[NightWind]

Thanks for sharing. My personal opinion, which is of cause subjective, is that these are still insufficient. There are also other factors which i mentioned in my earlier post today which need to be accounted and provided for.

 

One other important trend is that cost of living here will continue to increase and OUTPACE wage increments. This has been happening over the years/decades. So if you fast forward another 5, 10, 15 years, what will the real wage situation be like? By that time maybe CPF min sum is $400k, CPF withdrawal age is 85, COE is $150k for 5 years and god knows what other hidden taxes will accrue. :(

 

In other countries your breakdown is definitely feasible. But here in Singapore where this is the worlds most expensive city, i have my doubts. But thats just me. There is no right or wrong here as these are partly subjective standards.

 

Thanks again for taking the time to share your thoughts.

 

 

 

 

assume family of 4 with 2 schooling kids.

 

1) Getting a House - CPF contribution of $1500 (no cash involved)

2) Getting a car - No need

3) Education Cost -

a) $30 (for pri-jc sch) or $300 for poly

b) tuition & other enrichment $500

c) pocket money - $500 for 2 kids (including lunch in sch)

4) Public Transport Cost - student concession say $50 each, $150 each for 2 adults

5) Medical and Hospitalisation Cost -

a) average $100 per month (if stay healthy, i hardly spend more than $200 for whole family in a year)

b) health insurance - medishield by cpf with top up additional $50 per adult

c) other insurance (not for rich) - $600

6) Home expenses

a) utilities - elec/water/gas - $150

b) broadband/cable tv/ mobile for 4 - $250

c) food - weekday home cook $400/mth, dine out $400/mth

d) others - $200

7) entertainment / shopping

a) weekly/bi monthly movie & others - $200

b) average shopping per month $200 ($2400 for clothing, no gadget & phone)

the above is quite comfortable for average family income of $6000 should be ok.

You can skim further if you want, of course you can spend more for other extra wants.

then again you can see the above as hardship.

 

 

Edited June 20, 2015 by NightWind

[NightWind]

Hi again my previous estimate was a RANGE of $10-$15k per month HOUSEHOLD INCOME.

 

Some bros here seem to fixate on the higher amount of $15k and assume its for one persons salary.

 

To keep things in perspective if you look at the $10k lower tier and take into account this can be household income for two working adults, and it includes bonuses and CPF, its really not a high figure at all. After netting out CPF and annual bonuses, the monthly take home pay per person can be as low as $3-4k

 

Hope the bros here can keep that in mind pls.

 

 

wah last time 4-5k is top income liao... my dad earn 800 only

 

[Nissan833]

$15k combined income will provide for very comfortable living in SG liao.

 

$6-8k combined is more realistic.. if you want to say the average minimum for a small sized family of 4. Of course, you can go lower.. but you start to sacrifice certain things.

 

In my opinion, $6-8k combined income is the minimum a family should have before trying to comfortably own a Japanese/Korean new car with monthly instalment $1200.

[Throttle2]

Save money save money

[Freestylers09]

Back to old saying

 

 

"Not a matter how much u made or earn,its how u spend"

 

Take Mike Tyson And Michael Jordan for eg

 

Both earning about same in their era.

 

Now..whats the differences?

[Soya]

 

cant praise you yet but fully agree.... mine is nearly that "basic".

 

Im the sole breadwinner... wife a homemaker with 2 young child (4/8yrs).

 

1) Fully paid up 4-rm hdb.

 

2) Fully paid up 8+yrs latio. (DP for new car is ready, just waiting for timing to join the crowd)

Petrol+roadtax+maint ~ $500

 

3) Education: not much on this since son in primary only. school/Tuition/swimming/etc, ~$300/mth

 

4) public transport: less than $50/mth for wife and klds

 

5) Medical/insurance: this portion is large for me. i have coverage for all (myself,wife,2kids) with mainly medical and 1 endowment for the younger one, accident, term.. total around $1400 if im not wrong.. (some are cpf, some are cash..)

 

6) Home expenses

a) utilities - elec/water/gas - $250

b) broadband/ mobile - $150

c) lunch/dinner food - $500/mth

d) others - $100

e) Milk/drypers - $150

7) entertainment / shopping

a) weekly/bi monthly, mainly food - ~$400

8) my wife pocket money: $800

9) my own expenses : less than $500 if i dont visit amazon..hehehe..

add all these up only $5100... even after buying new car (with installment of $1200), require amount is only $6300.... 15K/mth is a lot for this basic family...

 

 

 

 

Errrr...bro, ur breakdown describes expenses outflow onli. U neber factor in cash savings and investment ah?