Coping in SG For middle income earners

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HazelDewi

New Member
Hi mummies,

Life is becoming more and more demanding in SG.
I wonder how other mummies are coping especially for those middle income families.
i am one of them, a FTWM with 2 princesses.
Not to say not enough but just enough where anytime can go into a pit hole
if we dun prioritize our money.
On top of that, we are solely independent without having or can't depend on both side
of our in laws. And to top it all up, in spite of struggling and juggling with all the
situation, at times we have to face the denial of our spouses.. like social networking
to release stress.. And it goes on and on...
i would really love to know or learn how other FTWM mummies are coping out there..
hope to hear some views soon,

Regards,
Hazel
 
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MsKoh1973

Member
hi, my family used to be double income until 2 yrs ago when I decided to quit and try to conceive another bb, still haven't succeed yet. We dun spend much despite having a big family (alot of relatives staying in my 5 rm flat, long story). Anyway, before I quit, I have sort of calculated and projected our income for future to ensure that even if I dun work, I have enough savings to last based on our current life style.

I dun like to travel, dun shop much except for clothes for my girl and grocery and household appliances. Family expenses is abt 60% of monthly income, as for bonuses, we usually save the whole sum and use it to buy endowment policies.

We own a car which is going to be 10 yrs soon next year, so now sourcing for new car. We stay in a 5 rm HDB flat w no maid (maid quit shortly after I stay at home :(. I think middle income can still survive well in Singapore if they are cautions with their spending.
 
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HazelDewi

New Member
Hi mskoh1973,

Thanks for sharing, my family lifestyle is also simple. And I also agree
that we can survive in Singapore if we are cautious with our spending if we dun want to fall into a pit hole.
That is what we have been doing from low income to middle income we still dont have the opportunity to go for holidays or shopping for new clothes except on occasions or just for my 2 princesses and some really necessary home appliances..

We do own two bikes which were fully paid and now sourcing for a family car and at the same time planning to apply for a bigger flat and also to have another bb as currently we are living in a 3rm flat..
 
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MsKoh1973

Member
if u want to buy new flat, maybe get BTO cheaper, got subsidy somemore.

tho I am not working, our finances r not tat tight tat cannot go travelling, just tat I still prefer home.

favourite is to go eat cheap jap buffet :), usually we try to eat buffet once a month, heheheheh.
 
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darialim

New Member
Bto took too long, after waiting and waiting bought resale. to save I hardly eat at restaurants and buy second hand clothes. Can't depend on parents as they earn v low income
 
F

felicity

Active Member
i'd love to stay at home but hubby said cannot survive on his income only. my in-laws stay with us, so bills n household expenses for 4 adults and a baby. and what depend on parents? their income is so low, i give them money every month! allowance for my parents, plus my insurance and saving plans, are too much for my hubby to take over... as i'm paying for them on my own and for him, after paying for car, household stuff, etc... not much left also, thus no savings. now plus insurance and saving plans for baby... already double income and hardly can save enough to travel... i'd love to be at home with baby but alas... we are living in a highly competitive and super expensive society...
 
SarahGurbuxani-Carpio

SarahGurbuxani-Carpio

Moderator
MsKoh1973 said:
hi, my family used to be double income until 2 yrs ago when I decided to quit and try to conceive another bb, still haven't succeed yet. We dun spend much despite having a big family (alot of relatives staying in my 5 rm flat, long story). Anyway, before I quit, I have sort of calculated and projected our income for future to ensure that even if I dun work, I have enough savings to last based on our current life style.

I dun like to travel, dun shop much except for clothes for my girl and grocery and household appliances. Family expenses is abt 60% of monthly income, as for bonuses, we usually save the whole sum and use it to buy endowment policies.

We own a car which is going to be 10 yrs soon next year, so now sourcing for new car. We stay in a 5 rm HDB flat w no maid (maid quit shortly after I stay at home :(. I think middle income can still survive well in Singapore if they are cautions with their spending.
Click to expand...

This is the best way to live within your means: to cut down your expenses. Go back to the basics and spend more time in investing and saving.
 
kidkiddy

kidkiddy

New Member
agreed juz live within your own means can make it de.... i had 3 kids, dual income, parents etc.... living in a sandwich generation wil feel stress and further want to give the best to our kids.... take it easy
 
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gzgll

New Member
I am a working mother,have 1 kid and expecting now,stay with parents,owned a car,soucing for new maid as my mum said she cant cope with two kids...but husband's job is not stable now,and the job market is not doing now...Quite a lot of pressure for me,worry that my hubby may lost job anytime...and even worse when my gal falls sick,my husband does not know how to take care of her,and I am working,not easy to take leave,have to take care of her at night,next day still got to work....plus all the finacial burdens and stress from husband ventilated to me,mother may nag sometimes feeling very tired,can't sleep at night,and I am feeling very weak and extremly tired during this pregnancy....just hope that everything will get better tomorrow.
 
kidkiddy

kidkiddy

New Member
hei. being a mother, wife, daughter and work is not easy...... nobody can understand how frustrated it can get to...
i FTWM, with 3 kids age 6,4 & 1 yr. Work is stressful agreed not easy to take leave... still have two side parents to take care plus my mother is chornic cancer
often leave need to cater for kids and my mother..
it really not easy and it will get tougher when ur no2 is out... hence for the sake of ur kids must stay strong and positive...
When i was preggy with no 3, 1 & 2 sick together with no maid... i got to clean up the mess myself and settle the two kids myself.... and being preggy already hard to sleep well still need to look after kids
breath in and find some "ME" time like after work i will take a slow walk home instead of bus to relax of my mind while enjoying a cup of bubble tea ..
Hence stay positive
 
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MsKoh1973

Member
kidkiddy said:
hei. being a mother, wife, daughter and work is not easy...... nobody can understand how frustrated it can get to...
i FTWM, with 3 kids age 6,4 & 1 yr. Work is stressful agreed not easy to take leave... still have two side parents to take care plus my mother is chornic cancer
often leave need to cater for kids and my mother..
it really not easy and it will get tougher when ur no2 is out... hence for the sake of ur kids must stay strong and positive...
When i was preggy with no 3, 1 & 2 sick together with no maid... i got to clean up the mess myself and settle the two kids myself.... and being preggy already hard to sleep well still need to look after kids
breath in and find some "ME" time like after work i will take a slow walk home instead of bus to relax of my mind while enjoying a cup of bubble tea ..
Hence stay positive
Click to expand...
Supportive husband v important.
 
kidkiddy

kidkiddy

New Member
for my case hubby is supportive and when he home he do as much as poosible juz that his working hours is terrible can no see him for 3 days so must learn to cope myself.....
 
D

diza

Member
Both hubby and I are working. I wish I can be a SAHM but that means letting the car go and no holidays. I love travelling, so does my husband. I learn to manage my finance by doing an excel spreadsheet for the whole year. This way, we are able to manage our $$$ well. My YE bonus is for my car's insurance, road tax and life insurance. His YE and performance bonus is used to buy whatever he wants coz he cant spend his monthly salary freely... Usually he saves up for holidays.. We don't shop for clothes monthly.. We will only spend a lot when we go travelling.. I always use my performance bonus to pamper myself like buying a bag or even go for a short trip. If we want to go on a holiday, we would plan ahead and save up. Lastly, we don't have credit cards even though we are eligible to sign up for one.. Therefore, we don't have any unsecured loans.
 
JuzAngel

JuzAngel

Member
1. Plan (itself will not change your spending habits, but it will allow you to acknowledge the ones you need to change).

  • Calculate what you can spend
  • Establish saving goals
  • Decide which expenses are necessary and which can be reduced

2. Classify
Fixed and Variable Expenses
There are two types of expenses: fixed or variable. When you are creating your budget you have to identify and classify them between these two categories, so that you are able to change what’s necessary.

  • Fixed Expenses: are those we have to pay periodically, and cannot be eliminated; like rent, water, power, food, and other utilities.
  • Variable Expenses: are the expenses that may change from month to month or that can be eliminated; like eating out, clothing, entertainment, gifts, etc.

To start, gather your information, all records of earnings and expenses, like any bills and receipts of purchases made with cash, any credit card receipts, any account statements

3. Make monthly budget & spend wisely. Try your best to stick to the budget, adjust & adapt accordingly.
4. Review your budget & spending. Set aside the savings for future investment.
 
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