Don't get it and you are $1000 richer.
How much money you have saved?
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Don't get it and you are $1000 richer.
why not? i have saved $1900 every month for the past 1 year.
my monthly expense including food, bus, mrt, hp, internet, vcd bills total $300 max.
i have no credit card = meaning no credit card bills
my house utility bills = $100 per month for 4 people living in the house and my father pays for it, so thats not part of my bill. even if one day he decides to make me pay for it, its only $100 which will not detract me from my $$$$ saving plan.
i have no car = no other bills
i have no wife nor kids = no other bills.
i travel once every 2 years and the money comes from the year end bonus, so there's no issue with spending on travel.
i have already bought all the clothes, watch, bags, sandals, towels and other apparel that i need an they will last for the next 5 years (theoretical maximum).
my track shoes are free from SAF.
i have already finalised my DSLR gear and will only buy the EF100-400L after getting this year's year end bonus. digital compact cameras if i want one, i can simply pick up a good used copy for just $200 if i hunt a little. after all at that level, the image quality is more or less the same.
i have an IBM laptop that will last for the next 5 years at least. my harddisks and thumbdrives still have space to store stuff, so no need to upgrade. my altec lansing speakers will last for a very long time. my mp3 player is still going strong. practically i dont have to buy any toys anymore.
even if i have nothing to do, i still have a pile of books on my shelf that i havent read that i can always read for intellectual nourishment for the next few years. biology, quantum mechanics, biochemistry, genetics, differential equations, physics, chemistry.
all i need to do now is to report to work and save the money everymonth.
trust me it can be done.
$1000 is too much. with discipline, it can br cut down to $400 at most. or $300 even better.
I think it's an exception rather than the norm. Not every young man earn that much and even if they do, I don't think many can save that much as they have other commitments like giving to parents, contributing to household expenses, car, hobbies, etc.
bernardy4416
New Member
Good to start saving at an early age....
Only 4 more things you missed that I can think of, if you're interested....
i) Taxes.....gotta pay them.
ii) Get a sound LONG TERM investment plan. No gambling on the stock market, please!
iii) Purchase Hospitalization & Surgical insurance. Can get a decent one via CPF approved plans from NTUC or AVIVA at very good rates (even with riders that cover the excess).
iv) Do remember to give yourself a treat every now and then. There's a difference between being careful with your money and being downright parsimonious. Can't take it with you.....
Bernard
Actually, if he don't spend and keep it 10yrs at 3%pa compounded in savings, that's $1343.92 on the 10th year.
Now if he had bought stocks/unit trusts, ...... :think:
Yup health insurance is one of the expense one should not miss. One major sickness/surgery may suck up all your savings...
Good to start saving at an early age....
Only 4 more things you missed that I can think of, if you're interested....
i) Taxes.....gotta pay them.
ii) Get a sound LONG TERM investment plan. No gambling on the stock market, please!
iii) Purchase Hospitalization & Surgical insurance. Can get a decent one via CPF approved plans from NTUC or AVIVA at very good rates (even with riders that cover the excess).
iv) Do remember to give yourself a treat every now and then. There's a difference between being careful with your money and being downright parsimonious. Can't take it with you.....
Bernard
wah... nobody says it cannot be done...
hmmm $300 max per month... very interested to see how to achieve...
that means an average of $10 per day...
let says, only the few items you mentioned...
1) how much u spend for transport per day. (bus, mrt?)
2) how much u spend for your food...
3) how much is your hp per month.
4) how much is your internet access per month..
5) vcd bills? let say that is your only entertainment that need to fork out money (beside taking photos with your DSLR)
raincool2005
Senior Member
saving hard alone is not safe anymore in today's context.
one need to know how to generate wealth by investments and upgrading personal worth in the job market.
u can save as much as u could but u can never beat inflation.
one need to know how to generate wealth by investments and upgrading personal worth in the job market.
u can save as much as u could but u can never beat inflation.
not all jobs pay 2.8k for fresh grad. some 1.6k-2.2k for fresh degree, 1.3-1.5 for diploma...
$300? u really can save! for me,
$160-$200 on bus every month ($3 everyday i take bus to work)
$200-$300 on food (assume every meal is $2, 3 meals a day; usually it's $4-5) (hmm, did u dig from dustbin or always go for free food???)
$50 internet
$20+ hp
$8.33 home phone
total = $438.33 - $600
$300? u really can save! for me,
$160-$200 on bus every month ($3 everyday i take bus to work)
$200-$300 on food (assume every meal is $2, 3 meals a day; usually it's $4-5) (hmm, did u dig from dustbin or always go for free food???)
$50 internet
$20+ hp
$8.33 home phone
total = $438.33 - $600
Agreed not all fresh grads are paid 2.8k.
As mentioned it depends on industry.
However, with improvement in job markets, achieving >2.8K for a IT graduate with about 1 year of experience is not difficult at all.
tiger woods
New Member
sometime is the more you earn, the more you spend.
i don't have saving for myself after paying for housing loan, utiltities, insurance, all kind of fees and remaining money is used to speed up the housing loan. hope to be debt free by 45 and then have to save for my 3 kids education.
i don't have saving for myself after paying for housing loan, utiltities, insurance, all kind of fees and remaining money is used to speed up the housing loan. hope to be debt free by 45 and then have to save for my 3 kids education.
i guess if live with parents, the money spent on food wwill be lesser as only 1 meal is eaten outside.
Agreed not all fresh grads are paid 2.8k.
As mentioned it depends on industry.
However, with improvement in job markets, achieving >2.8K for a IT graduate with about 1 year of experience is not difficult at all.
agreed. bcos some fresh grad (eg law, medical) are paid more than 2.8K
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