Money not enough for Sporeans??

[chinkandoo]

Let’s do the sums and see if all the complaints here holds water. Take a average s’porean (40yo, salary $2.8K, wife $2k, staying in 4rm HDB, married with 1 kid)

Housing
Cost of House (bought from resale 5yrs ago - $350,000)
Loan - (350K * 0.8 * = 250K X 1.5% X 25 yrs = 343K / 300)
Instal. around $1150 /month, which can easily be covered by CPF (with bal)

Household
Grocery + toiletries - $450 / mth
Give parents - $600/ mth (for both)
Kids schooling (assuming Primary) - $250/ mth
Clothing / Shoes - $150 /mth
Food – (assuming eat out on weekends only) - $400/ mth
Transport - $600 / mth
PUB - $120/ mth
Phone Bills - $160/ mth
Maid - $650 /mth
Other misc expenses - $150 /mth

Total - $3530
Total take home pay - $3840

Still can save $300 and donate $10 to SPCA every month!!

What doyou guys think? Is it a fair assessment of affairs here?
P.S. please note that transport takes up a huge chunk of expenses…screw SMRT!!!

 

[singveld]

600 is too high for bus and mrt?

 

[Wei Tuo Deva]

Let’s do the sums and see if all the complaints here holds water. Take a average s’porean (40yo, salary $2.8K, wife $2k, staying in 4rm HDB, married with 1 kid)

Housing
Cost of House (bought from resale 5yrs ago - $350,000)
Loan - (350K * 0.8 * = 250K X 1.5% X 25 yrs = 343K / 300)
Instal. around $1150 /month, which can easily be covered by CPF (with bal)

Household
Grocery + toiletries - $450 / mth
Give parents - $600/ mth (for both)
Kids schooling (assuming Primary) - $250/ mth
Clothing / Shoes - $150 /mth
Food – (assuming eat out on weekends only) - $400/ mth
Transport - $600 / mth
PUB - $120/ mth
Phone Bills - $160/ mth
Maid - $650 /mth
Other misc expenses - $150 /mth

Total - $3530
Total take home pay - $3840

Still can save $300 and donate $10 to SPCA every month!!

What doyou guys think? Is it a fair assessment of affairs here?
P.S. please note that transport takes up a huge chunk of expenses…screw SMRT!!!

Hello Bro.
Where got 1.5% interest rate?? for 25 yrs
Age to 65 yrs old for 25 yrs loan. Sure to work till 65 yrs without unemployment??? You are consider old if you are 40 and CPF decline at age 55 onwards. Do your math and facts.

 

[Wobble]

Let’s do the sums and see if all the complaints here holds water. Take a average s’porean (40yo, salary $2.8K, wife $2k, staying in 4rm HDB, married with 1 kid)

Housing
Cost of House (bought from resale 5yrs ago - $350,000)
Loan - (350K * 0.8 * = 250K X 1.5% X 25 yrs = 343K / 300)
Instal. around $1150 /month, which can easily be covered by CPF (with bal)

Household
Grocery + toiletries - $450 / mth
Give parents - $600/ mth (for both)
Kids schooling (assuming Primary) - $250/ mth
Clothing / Shoes - $150 /mth
Food – (assuming eat out on weekends only) - $400/ mth
Transport - $600 / mth
PUB - $120/ mth
Phone Bills - $160/ mth
Maid - $650 /mth
Other misc expenses - $150 /mth

Total - $3530
Total take home pay - $3840

Still can save $300 and donate $10 to SPCA every month!!

What doyou guys think? Is it a fair assessment of affairs here?
P.S. please note that transport takes up a huge chunk of expenses…screw SMRT!!!

Transport Charges too high if both are taking public transport only...
Maid - not everyone has a maid...
PUB Bills - 4 room flats minimum $120 - $150/mth

 

[Ramseth]

Transport Charges too high if both are taking public transport only...
Maid - not everyone has a maid...
PUB Bills - 4 room flats minimum $120 - $150/mth

Are you kidding? Or your grandfather owns SP or BP?

 

[Teo Kok Eng]

Give parents - $600/ mth (for both)
Transport - $600 / mth

Potentially can cut down some 'give parents' expenses if need to find the cash. Either cut a bit or moonlight a part time job.

Another potential money saver is to buy a electric bike - hope it doesn't need $600 a month to ride an electric bike - yes, it is dangerous but when there is a need to raise money, it is an option.

 

[Cestbon]

No car still ok.
Please revise the calculation.
PUB/SP&conservancy charge $400/month
With maid or no maid cost about the same because need child care cost if no maid- quite fair
HDB interest rate 2.6%
Transport cost if add taxi few trip/month for family of 3 $600 maybe
Food $400 is not enough at least $800/month if both having lunch office hour and weekend eating out. Consider dinner at home.

 

[Ramseth]

Food $400 is not enough at least $800/month if both having lunch office hour and weekend eating out. Consider dinner at home.

Bread 50c per bun only. Instant noodle 50c per packet only. What do you want? Hawker, foodcourt or restaurant?

 

[Leongsam]

Still can save $300 and donate $10 to SPCA every month!!

That's an extremely naive view of the financial aspects of life.

Saving $300 per month for the next 30 years will yield a mere $159,852.64 savings in today's dollars. It's grossly insufficient for a comfortable retirement.

Financial planning should always provide for a retirement fund of at least $500,000 to $1 million (excluding CPF and the property you live in)

Those earning $4K to $5K per month should aim to save an average of at least $1000 per month which will then provide a $540,000 (in today's dollars) retirement nest egg after 30 years.

If they are unable to save this amount monthly, they should cut back on their expenses and adjust their lifestyle till the required savings rate is achieved.

Those who have a passion in life could well achieve retirement at a much earlier age if they can turn their passion into an enterprise. 45 is an ideal AND realistic goal. It gives one loads of time to pursue other dreams while still fit and healthy with the comfort of knowing that money is no longer an issue.

 

[batman1]

Hello Bro.
Where got 1.5% interest rate?? for 25 yrs
Age to 65 yrs old for 25 yrs loan. Sure to work till 65 yrs without unemployment??? You are consider old if you are 40 and CPF decline at age 55 onwards. Do your math and facts.

Some people need at least $1 million pa to live comfortably and affordably !!!

 

[oli9]

This family will go the way of the mammoth if they continue with this kind of planning.

Maid - Omit. Wont die one. Manage on own & one would appreciate the work put in. Childcare cost minimal if sent to PAP school
Transport - stop taking cabs. Our transport system is already superb only marred by overcrowding FTs
Give parents - very filial but can one ensure the aged parents dont use the children's monies for vices eg PRC mei mei, gambling etc? Its prudent to give filial piety in the form of paying for household exp & some pocket money
Clothing/shoes - $150/mth???? You got to be kidding rite?

Savings of $300/mth is very good. Put aside this amount in the bank for emergencies or for holidays.

Insurance coverage dont have????

 

[Balls2U]

Very soon, that Clinton666 shit is gonna insult u terok terok when he sees this! He'll also start bragging about his infinite wealth to the whole world!

 

[Cerebral]

I think

Groceries $400/mth not enough. I am averaging $600 - $750 for a family of 4 + 1 maid at NTUC.

Kid's Schooling, if you include enrichment and tuition, $250 definitely not enough for 2 kids. Should be closer to $400 to $600, depending on number of subjects and enrichment. This does not include bag, uniform, books, etc...

Food - $400 where got enough. 4 persons x 3 meals x $3 x 30 days = $1080.

Transport a little high. Should be closer to $300-$400

PUB - Where got $120 any more. Everytime the prices keep going up. With Aircon for 4 should be 200+ a month

 

[halsey02]

Bread 50c per bun only. Instant noodle 50c per packet only. What do you want? Hawker, foodcourt or restaurant?

Where got bread at 50c.....that was 30 years ago.....50c is the kiddy noodle....

I want a million dollar salary...so that I can ask you where you want to eat, at your expense...:p

 

[soIsee]

This type of obvious logic and TS have to post out all the details.

I tell you ppl what.

You take a small rubber ball.

Go to any HDB heartland and randomly throw the ball into the crowd.

1 outta 3 throws, the ball will hit an FT!

1 outta 2 throws if it hits a Sinkie, that Sinkie is using gambling as his/her way to retirement.

1 outta 4 throws, if the ball hits a Sinkie, that Sinkie will not have sufficient funds for his/her retirement.

So is the above logic simple enough for morons to understand?

And please Sam, don't keep mimicking that Sinkies do not have enough funds to retire, at least show, at what level they're are being screwed by the numbers!

 

[Leongsam]

And please Sam, don't keep mimicking that Sinkies do not have enough funds to retire, at least show, at what level they're are being screwed by the numbers!

? What more do you want me to provide? There are retirement calculators all over the net. I've even included a link to the site I use the most often.

 

[soIsee]

? What more do you want me to provide? There are retirement calculators all over the net. I've even included a link to the site I use the most often.

Well, you have provided them with a sex link.. but to let them calculate for their own future?

Calculations is one thing, it does not wake up the Sinkie to the shit and dirt accumulating in the majority of Sinkie heads, for them to realise what the actual numbers mean to them.

Realising the actual reality, is never ever possible for the present brood of Sinkies.

You can call it, leading the sheeps to slaughter but I 'll rather termed it as 'the idiots should be damned' becos they jolly well deserved it.

Least to say, no one can ever do the Sinkie a favour, not by even linking any damn calculator for them to calculate their future.

It was they themselves , who allowed themselve to be in such shit hole.

Afterall, it was and will be so, as men are selfish and care for his own needs by depriving the needs from his fellow men.

 

[batman1]

Well, you have provided them with a sex link.. but to let them calculate for their own future?

Calculations is one thing, it does not wake up the Sinkie to the shit and dirt accumulating in the majority of Sinkie heads, for them to realise what the actual numbers mean to them.

Realising the actual reality, is never ever possible for the present brood of Sinkies.

You can call it, leading the sheeps to slaughter but I 'll rather termed it as 'the idiots should be damned' becos they jolly well deserved it.

Least to say, no one can ever do the Sinkie a favour, not by even linking any damn calculator for them to calculate their future.

It was they themselves , who allowed themselve to be in such shit hole.

Afterall, it was and will be so, as men are selfish and care for his own needs by depriving the needs from his fellow men.

Some say singaporeans are greedy and selfish b*stards .
When the HDB prices shoot up,they are in cloud nine and they think they are very rich .Yeah,3 room HDB,resale price $300K plus,4 room HDB,resale price $400K plus and 5 room HDB ,resale price $500K plus.
But unless u have 2 HDB flats on hand or intend to migrate to other countries,what's the use of having a high market price HDB Flat ???
U sell your HDB flat at market price and u buy another HDB flat also at market price.So it is LPPL.What about your children ? Do u think your children can afford with so many FT and SPR buying HDB resale flats ???
So, high prices of HDB flats is not good for the ordinary singaporeans,only good for the HDB to earn more money,maybe Billions of profit in one year.
Yeah,greedy and selfish ba*tards deserve to have their heads on the chopping board !!!No point explaining to them again and again......

 

[Leongsam]

Calculations is one thing, it does not wake up the Sinkie to the shit and dirt accumulating in the majority of Sinkie heads

What do I need to do in order to get the message through then?

 

[soIsee]

What do I need to do in order to get the message through then?

You need to be voted in or be PM for Sinkland in any way you can.

There is a saying.

It is not how you came into power but what you can do with that power.