[forum456]

https://www.straitstimes.com/opinion/thi...ts-must-be

[RichDad]

Yes for most.

[Bigbluedot]

if includ a car a flat and yearly travel etc . Needs.

[debono]

https://www.straitstimes.com/opinion/thi...ts-must-be

A family of 4 that really needs $6,426 is one that is living in luxury, with a car, and frequently dine in restaurants.....The basic needs of 4 should be around $2,500 per month...

[sgbuffett]

A family of 4 that really needs $6,426 is one that is living in luxury, with a car, and frequently dine in restaurants.....The basic needs of 4 should be around $2,500 per month...

What you say is true but include medical insurance and some "basic exoenses" like broadband, telco  plans, some entertainment and occasional eating out. That amount should be $4K. $2500 is living like some one in developing world.
Don't forget there is mortgage payment which is taken out of CPF but undermines retirement savings because it drains CPF.

Singapore unlike Malaysia where 98% of families own cars and more than 60% have 2 cars, we have excellent public transport for our travelling needs so we don't have to downgrade to Malaysia level of transport where people need to drive themselves around. So we can save this expense.

[Ola]

A family of 4 that really needs $6,426 is one that is living in luxury, with a car, and frequently dine in restaurants.....The basic needs of 4 should be around $2,500 per month...

With 2 kids, the mother must be housewife.

Assuming only husband works:

Salary/ mth  $6,426
after CPF     $5,406
Top up CPF for spouse $800
-----------------------------------------
NET=  $4606

Home wifi, internet package                  $130
Food, Electricity. water & waste refuse    $350

Tuition for 2 kids                $1200
ECA/ Hobbies                     $700
Toys, Books, Games, shoes $300

Basic Food               $400 
Eat out on weekend  $200

School bus               $550 X1
Transportation          $300 X3

Private insurance for 2 adults  $333/ mth

=================================

LEFT with  $143.

[RichDad]

A family of 4 that really needs $6,426 is one that is living in luxury, with a car, and frequently dine in restaurants.....The basic needs of 4 should be around $2,500 per month...

You don't know how expensive things are nowadays. Plus tuition... ... ??

[sgbuffett]

If you want a low budget to work it has to be accepted by both husband and wife.

If your pay is not high and you want to keep spending low to build savings, you can find that your marriage falling apart because your spouse is not going to accept it.

Money is the main reason for divorce in Singapore and couples fight constantly over how to deal with limited funds.


https://www.herworld.com/life/entertainm...singapore/

[sgbuffett]

With 2 kids, the mother must be housewife.

Assuming only husband works:

Salary/ mth  $6,426
after CPF     $5,406
Top up CPF for spouse $800
-----------------------------------------
NET=  $4606

Home wifi, internet package                  $130
Food, Electricity. water & waste refuse    $350

Tuition for 2 kids                $1200
ECA/ Hobbies                     $700
Toys, Books, Games, shoes $300

Basic Food               $400 
Eat out on weekend  $200

School bus               $550 X1
Transportation          $300 X3

Private insurance for 2 adults  $333/ mth

=================================

LEFT with  $143.

Wow 6k is very high salary.

20% make below 2.5k
40% below 3.5k.

For them they are not living in 1st world ...rather like in 3rd world.

[JQK]

As said, it depends (on who you are). Some need $60,000 for basic dignity. Others should just learn to make do with $3,000.

[Ola]

So much lj talk from idiots with no wife no kids

I have 3 kids, 2 daughter graduated from NUS recently

My son will start secondary school next year

I know you don't need a lot of money to raise a happy family in Singapore

Public housing in HDB flats is FREE for a lifetime

Public transport is dirt cheap and tuition is unnecessary


And no unnecessary cbailj expenses like tuition


All here agree?

Public Housing is FREE for all living in Singapore, fully paid by your PAP.

You also said, medical is free in Singapore. 

That is why there is no need for CPF.  You tell your idiotic PAP to remove CPF immediately. 

All Singaporeans will be so happy an worship you like god. 

GO! Don't just talk and no action. Wayang Only like PAP is no use here. 

Show action. Both you and your son be jobless until you die and vote for PAP.

Don't be a hypocrite and a Traitor of SG.

[Instinct]

A family of 4 that really needs $6,426 is one that is living in luxury, with a car, and frequently dine in restaurants.....The basic needs of 4 should be around $2,500 per month...

Then why do ministers need to be paid in $million. Then why don't you tell them $10,000 per month would be super luxurious.

[Sharexchange]

6K? Alone more happy.

[debono]

With 2 kids, the mother must be housewife.

Assuming only husband works:

Salary/ mth  $6,426
after CPF     $5,406
Top up CPF for spouse $800
-----------------------------------------
NET=  $4606

Home wifi, internet package                  $130
Food, Electricity. water & waste refuse    $350

Tuition for 2 kids                $1200
ECA/ Hobbies                     $700
Toys, Books, Games, shoes $300

Basic Food               $400 
Eat out on weekend  $200

School bus               $550 X1
Transportation          $300 X3

Private insurance for 2 adults  $333/ mth

=================================

LEFT with  $143.

In my humble opinion, the breakdown is good, but excessive.  Some average families will only need as basic needs, cut to the chase, will come up to $2,500 after CPF...

[winbig]

Then why do ministers need to be paid in $million. Then why don't you tell them $10,000 per month would be super luxurious.

Ministers are different. They can bring their million dollars with them when they die. 

[debono]

Then why do ministers need to be paid in $million. Then why don't you tell them $10,000 per month would be super luxurious.

Ministers are different. They can bring their million dollars with them when they die. 

The ministers will say that they are getting a sum of $mil. to be in line of the average income of the top 1,000 of various professional people, they are not there as a charity or do it out of a sacrifice.,....

[watchfirst9]

With 2 kids, the mother must be housewife.

Assuming only husband works:

Salary/ mth  $6,426
after CPF     $5,406
Top up CPF for spouse $800
-----------------------------------------
NET=  $4606

Home wifi, internet package                  $130
Food, Electricity. water & waste refuse    $350

Tuition for 2 kids                $1200
ECA/ Hobbies                     $700
Toys, Books, Games, shoes $300

Basic Food               $400 
Eat out on weekend  $200

School bus               $550 X1
Transportation          $300 X3

Private insurance for 2 adults  $333/ mth

=================================

LEFT with  $143.

after deduct CPF , is 37% off for those below 55years old.
 so above family is in fact in deficit...

bonus last year cut, salary suffer a mild dip
https://stats.mom.gov.sg/Pages/Income-Su...Table.aspx

but the figure did not included those part time and jobless.

[ArielCasper]

With 2 kids, the mother must be housewife.

Assuming only husband works:

Salary/ mth  $6,426
after CPF     $5,406
Top up CPF for spouse $800
-----------------------------------------
NET=  $4606

Home wifi, internet package                  $130
Food, Electricity. water & waste refuse    $350

Tuition for 2 kids                $1200
ECA/ Hobbies                     $700
Toys, Books, Games, shoes $300

Basic Food               $400 
Eat out on weekend  $200

School bus               $550 X1
Transportation          $300 X3

Private insurance for 2 adults  $333/ mth

=================================

LEFT with  $143.

From a purely financial management perspective, bulk of the expenses (1200+700+300+550) are kids related..

Last time, having kids using to be an current asset, something like insurance, you pay monthly with small amount, then collect the payback when they grow up and take care of you.

Now, kids are more like a liability, it suck up a huge part of your income, but with no visible payback.

Of course, it you look at it from other perspective, having kids (when they are young) give you more joys money can ever buy..

[debono]

From a purely financial management perspective, bulk of the expenses (1200+700+300+550) are kids related..

Last time, having kids using to be an current asset, something like insurance, you pay monthly with small amount, then collect the payback when they grow up and take care of you.

Now, kids are more like a liability, it suck up a huge part of your income, but with no visible payback.

Of course, it you look at it from other perspective, having kids (when they are young) give you more joys money can ever buy..

I agree with your perspective outlook, as more of a liability, and take up huge amount of the dough you bring in.  But the joy of having children is tremendous. Also, when they grow up and are working,  they could be a source of income for the family...