This is a discussion on How much you already saved??? within the Home Life, Relationships & Finance forum, part of the You and Your Family category; Wow, you all very good , i have zero saving ever since i delivered my daughter....
Wow, you all very good , i have zero saving ever since i delivered my daughter.
actually my pay was about $2800 gross in yr 2000, till now about $5k before I just resigned. My husband's pay about the same, since we married about 6 yrs ago, we manage to save one person's pay and bonus through d years, thats how we accumulated our savings.
I also earned about $100k fr selling my 3 rm flat in year 2007. I cannot imagine in year 1999, I even pawn my jewellry just becos of $1k that I need for my bro's wedding, time really has changed alot.
dont't feel bad if you have not't save alot, you will save when the time is right, if you ask me then, I also could never imagine I could have what I have in bank ac today. Hard to imagine.
sigh. im 22 only have $xxxx in savings. im very inspired now after reading this thread
How does Stay Home Mum able to save $$..? My last day in my company is just another 5days more.. i am worried now after reading this. My saving only start when we saving for our marriage ceremony.. 10months for $17'000 which is all gone and our bank acct is back to ZERO.
I have saving in Prudential $80/month and after 25yrs then can take it out.. By then i be 50yrs old and its only $24'000. Sigh!
For my lil baby i have not yet save for her education or so.. how much should i put aside monthly? currently i just open Young Saver from OCBC.. whatever the amount is follow by her age... so she 6mth then its $600. dont know if thats good enough..? Please give me some feedback...
think my only savings are in my CFP...
If your hubby gives you an allowance, try to save as much as you can from there by shopping smart and spending wisely (buy house brands, buy during sale, find cheaper alternatives, etc). That's usually how SAHMs who dont't have any form of income save up their money - by learning how to stretch every dollar. If possible, find a way to earn some money online via e-biz (DIY, crafts, services), blogging, etc.
I was a stay at home mum/W from Feb 2008 till May 2010. After a few months of being a SAHW, I started my own e-biz even though I had some small income from my blog. The money was just as an allowance - to buy stuff that I like, etc. My hubby gave me some spending money. During CNY, birthdays or whenever I get extra cash from family or the hubby, I spend some but keep the remainder in a bank account to generate interest. I'm working again now so things are obviously different but I try to save as much as I can each month.
Blogging [at] thescarfer.net
no worries, boat will go straight when hit dock.
Our saving only $xx,xxx. Need to work harder to save up
Let me know if you want other suggestions to grow your savings!
You have CPF, maybe you can start to do some investment with your CPF, you can approach those financial advicers, but still must exercise care.
no , just like to have some basic knowledge on these things .
Thank you, so far mostly invest in Endowment, Education and Annuity (for my husband), also dare not take in too much risk, no guts.
I think i also got zero saving
Hi Perfect Mum, Jynnsan, there are 2 main ways to increase your savings.
1) Increase your earnings inflow by getting higher pay, getting a better job, starting side business..sometimes this is more difficult
2) Start looking at all your expenses....your expenses should fall into 2 categories:
i) Fixed like loan payments to bank, HDB, car company, credit cards, school fees. This should not exceed 33% of your income.
ii) variable like food, shopping, entertainment that change month to month. This should not exceed 50% of your income.
If you can meet the above 2 criteria, you should be able to save at least 17% or one-sixth of what you earn.
For example, if you earn 3K/month, you should target to set aside at least $500/month (6K /year) into your savings account.
If you can set aside 6k/year for 25 yrs at conservative 4%, it can grow to
Can buy some unit trust also, its much better return the fixed deposit.