Savings...

• shinta

  11 Apr 05, 11:25

  how much money would u guys put aside for ur savings?
  
  assumin u earn about 1k a mth?
• Omega-broly

  11 Apr 05, 11:26

  depned on my needs
• deathscythe99

  11 Apr 05, 11:27

  Originally posted by shinta:

  how much money would u guys put aside for ur savings?
  
  assumin u earn about 1k a mth?

  1K a mth? Put aside 350?
• shinta

  11 Apr 05, 11:28

  Originally posted by Omega-broly:

  depned on my needs

  hmm say besides the usual expenses.... how much would u put aside for emergency/further edu/lao po ben?
• shinta

  11 Apr 05, 11:29

  Originally posted by deathscythe99:

  1K a mth? Put aside 350?

  hmm aside for lao po ben or emergency funds?
• sweetie05

  11 Apr 05, 11:36

  it really depends on ur needs and life style.
  how old r u? are u still living with ur parents? still getting an allowance? Have u started to buy insurance? Do u drive? or is ur workplace near home, transport allowance? etc. Do u have to pay for utilities, mobile phone bills?
  
  $1k is not a lot. public transport and meals everyday easily cost $400-600 pm. U only have $400-600 left for ur entertainment and miscellaneous bills.
  
  I would say with $1k, u can hardly have savings in modern Spore.
  
• shinta

  11 Apr 05, 11:39

  Originally posted by sweetie05:

  it really depends on ur needs and life style.
  how old r u?
  are u still living with ur parents?
  still getting an allowance?
  Have u started to buy insurance?
  Do u drive?
  is ur workplace near home, transport allowance? etc.
  Do u have to pay for utilities, mobile phone bills?
  
  $1k is not a lot. public transport and meals everyday easily cost $400-600 pm. U only have $400-600 left for ur entertainment and miscellaneous bills.
  
  I would say with $1k, u can hardly have savings in modern Spore.
  

  turning 21 this year
  still livin together
  no allowance
  not yet, plan to do so after i reach 21
  i dun drive
  transport should be between 50-100 a mth
  mobile phone and puttin aside 100 every mth for bro
  
  liddat can save?
• sweetie05

  11 Apr 05, 16:04

  if u r determined and thrifty enuf, of cos u can save.
  by thrifty, it means not buying fancy clothes, not eating at fancy restaurants, not talking long on hp...
• shinta

  11 Apr 05, 16:06

  Originally posted by sweetie05:

  if u r determined and thrifty enuf, of cos u can save.
  by thrifty, it means not buying fancy clothes, not eating at fancy restaurants, not talking long on hp...

  hmm wat if i'm a big eater?
• sweetie05

  11 Apr 05, 16:09

  Originally posted by shinta:

  hmm wat if i'm a big eater?

  then either u have no savings or u slim down...
• shinta

  11 Apr 05, 16:10

  Originally posted by sweetie05:

  then either u have no savings or u slim down...

  
• elindra

  11 Apr 05, 16:13

  1k a month....... I will save nothing.....I can't even survive on 1k a month
• shinta

  11 Apr 05, 16:14

  Originally posted by elindra:

  1k a month....... I will save nothing.....I can't even survive on 1k a month

  i'm a poor kid
• elindra

  11 Apr 05, 16:21

  Originally posted by shinta:

  i'm a poor kid

  Well as a guide, it is best to be able to save at least 20% of your income. But see how you manage your funds. If you don't have things like insurance and other bills to pay you should do ok.
• theSquelch

  11 Apr 05, 16:23

  cheap and filling is the way to go
  like chickne rice with more rice
  
  

  Originally posted by shinta:

  hmm wat if i'm a big eater?

• shinta

  11 Apr 05, 16:23

  Originally posted by elindra:

  Well as a guide, it is best to be able to save at least 20% of your income. But see how you manage your funds. If you don't have things like insurance and other bills to pay you should do ok.

  wat if i have insurance to pay??
  
  tink i'm goin to starve
• SGpork

  11 Apr 05, 16:23

  gotta see..left how much after paying the bills n stuff..
• SGpork

  11 Apr 05, 16:24

  Originally posted by shinta:

  hmm wat if i'm a big eater?

  that gotta depends where u eat liao
  
  
• bratpig

  11 Apr 05, 16:25

  by 35 years old, i should be earning enough passive income to indulge in biz that i'm interested in but may not be profitable
• elindra

  11 Apr 05, 16:25

  Originally posted by shinta:

  wat if i have insurance to pay??
  
  tink i'm goin to starve

  I mean buy insurance that is within your means la. If you can afford a small amount, then go for a small amount.
• Qitai

  11 Apr 05, 16:51

  Originally posted by shinta:

  wat if i have insurance to pay??
  
  tink i'm goin to starve

  Be careful about buying too much insurance. And know why you are buying insurance. Don't buy blindly.
  
  If you want saving, I will always recommend unit trust over insurance.
• shinta

  11 Apr 05, 16:56

  Originally posted by Qitai:

  Be careful about buying too much insurance. And know why you are buying insurance. Don't buy blindly.
  
  If you want saving, I will always recommend unit trust over insurance.

  y unit trusts?
  
  insurance.... cos it's always better to have some kind of coverage isn it?
• Kenashi

  11 Apr 05, 16:57

  Originally posted by Qitai:

  Be careful about buying too much insurance. And know why you are buying insurance. Don't buy blindly.
  
  If you want saving, I will always recommend unit trust over insurance.

  unit trust are not performing well in recent yrs.
  better to put in insurance policy
• elindra

  11 Apr 05, 16:58

  Originally posted by Qitai:

  Be careful about buying too much insurance. And know why you are buying insurance. Don't buy blindly.
  
  If you want saving, I will always recommend unit trust over insurance.

  I think you have to see what she has in mind.
  As for Unit Trust, it is better if you can hold it over a longer period of time and it might not have the coverage of insurance that she is looking for.
  
  Ideally, it is nice to have both but it depends alot on budget.
• dragg

  11 Apr 05, 17:00

  if i earn 1k a month i will take 1k from my parents and save 1k.
  
  people can barely survive on a 1k salary, let alone save.