Tuesday, March 09, 2010

Personal budget

I need some real life examples from Singaporeans who are able to save at least 15% of their earnings, in addition to contributing to CPF: Please send your details to kinlian@gmail.com

Single
1. Your monthly income
2. Contribution to parents
3. Essential personal expenses - e.g. travel, food, clothes
4. Repayment of loans - type and amount
5. Monthly savings
6. Balance available for holidays and other discretionary items

Family

1. Your monthly income incluidng spouse 
2. Number of children
3. Essential personal expenses - e.g. travel, food, clothes, mobilephone
4. Repayment of loans - type and amount, e.g. house, car
5. Household expenses
6. Car or transport expenses
7. Expenses of children
8. Monthly savings
9. Balance available for holidays and other discretionary items

11 comments:

Tan Kin Lian said...

I have received 5 replies. All of them have significant savings or more than 15% of the monthly earnings.

Anonymous said...

single, PMET, under-employed

income: $1 to 1.3k take home
contribution to parents: zero
food, transport, clothes: $500-600 (mainly transport, utility bills and food)

loans: zero
monthly savings: at least $300 to $500

Bal available: have not gone for holiday for over 3 years, no movies for over 4 yrs

Discretionary item: saving for a $2k laptop

Anonymous said...

Under-employed PMET,

I feel your frustration. I've been there and still am too.

Paying for your family's utility bills is also contribution.

For me, I also save costs by having peanut butter or jam bread for dinner. Only 1 "proper" meal for lunch which is usually $2.70 fan-cai. If you have access to hot water can also save on coffee/tea, by bringing your own 3-in-1 and mug. Or make it at home and bring to work in small thermos flask.

Regarding your aim of a laptop, unless you have specific requirements for a high-end, a relatively good one should cost no more than $1.2K.

Anonymous said...

Oh, under-employed Pmet, your savings rate is also very high -- 30+% of your take home pay!

If you don't need so high-end laptop, you can even consider giving parents $50 or even $100. They will appreciate your efforts very much!

Anonymous said...

Aldwin
Freelance tutor 4000
handphone
bus pass 100
mrt 50
cab 40
normal lunch dinner 250(per day 7dollars no drinks order )
insurance +unit trust(800)
restaurants 200(max)
entertainment 300(max)
parents (100)
total: 1700
The rest money goes shares and fixed deposit

Anonymous said...

Single PMET, staying alone in HDB Exec flat.

Utilities (no air con), tax installments : $300/pm

Daily expenses at work (5 day/wk)- (public transport, food): $15

weekly good makan/entertainment, etc expenses :$60 to 80

No smoking, drinking, 4D/Toto, betting.

Total expenses < $1000 pm

Anonymous said...

Single, PMET.
Monthly Income - $4100K
To Parents - $500
Personal expenses - $500 - 600
Repayment of housing loans - ~$650 thru cpf
Monthly saving - $1500 and above

Anonymous said...

$2200 take home
$200 to parents
$500 monthly expenses
$500 savings
$1000 investment fund

Anonymous said...

Mr Tan, you have to take into consideration that followers of your blog are majority financially literate hence explaining the high percentage of residual income.

Anonymous said...

Family for FY2009 (12 month average)

Monthly income: 16000.00
Saving interest: 2500.00
Other income: 2000.00
Children: 3
Loan: 1660.00
Tax: 2980.00
Total expenses: 4200.00
Transport: 1800.00
Balanced saved: 11360.00

Total saving rate: 45.34~48.10%

Anonymous said...

Single, stay with mum & brother.

Salary: SGD2900 per mth
Parents: SGD280 (my bro also contributes)
Expenses: around SGD540 or less per mth
Savings: SGD1500 (automatically transfer to a bank account monthly after date of receiving salary)

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