How many % of your family income do you save every month?

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

How many% of your family income do you save every month?

0%
3
7%
0% - 30%
17
40%
30% - 50%
14
33%
> 50%
9
21%
 
Total votes : 43

How many % of your family income do you save every month?

Postby Quintessential Mum » Sat Nov 06, 2010 11:12 am

Hi How many % of your family income do you save each month? It would be good to squirrel away a little bit each month for a rainy day/retirement etc even if it is a single income family. :wink:

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Postby Gecko » Sat Nov 06, 2010 9:02 pm

Hmmm.... I don't save much of my monthly income but I do save almost all of my bonuses.

Based on annual income, I save about 25-30% (excluding what goes to my children's savings account / insurance, my own insurance, and CPF)

Gecko

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Postby Edureach » Sat Nov 06, 2010 10:10 pm

Gecko wrote:Hmmm.... I don't save much of my monthly income but I do save almost all of my bonuses.

Based on annual income, I save about 25-30% (excluding what goes to my children's savings account / insurance, my own insurance, and CPF)

Gecko



So discipline. You will retire rich! Anyway, congrats!

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Postby daddy2007 » Sat Nov 06, 2010 11:35 pm

I saved 25% of my nett income each month and 90% for my annual bonus

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Postby Quintessential Mum » Mon Nov 08, 2010 12:57 pm

Gecko wrote:Hmmm.... I don't save much of my monthly income but I do save almost all of my bonuses.

Based on annual income, I save about 25-30% (excluding what goes to my children's savings account / insurance, my own insurance, and CPF)

Gecko


That's great! We save about 30-35% per month and about 50% of bonuses when we take 2/3 weeks hols and about 80& when we take shorter hols. :lol:

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Postby Funz » Mon Nov 08, 2010 1:48 pm

deja vu.

Had a similar topic here I think

http://www.kiasuparents.com/kiasu/forum ... &start=100

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Postby daddy2007 » Tue Nov 09, 2010 1:06 am

Quintessential Mum wrote:That's great! We save about 30-35% per month and about 50% of bonuses


Combined income?

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Postby baglady » Tue Nov 09, 2010 10:50 am

Interesting topic! Currently save about 25-30% of monthly income combined. Hubby and I talk about this and we feel it's not enough. We worry about retirement. Medical expenses are so high now, better hope and pray we don't get any major illnesses cos insurance will only cover part of the cost. Hopefully kids can get into local uni or get scholarship, otherwise overseas education will cost a bomb too! :pray:

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Postby daddy2007 » Tue Nov 09, 2010 11:23 am

It is cheaper to die than to get major illnesses in Singapore :lol:

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Postby starlight1968sg » Tue Nov 09, 2010 11:29 am

daddy2007 wrote:It is cheaper to die than to get major illnesses in Singapore :lol:

This is very true! :lol:

starlight1968sg
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