How Much Salary Do Young Working Adults Save??
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- เผยแพร่เมื่อ 19 มิ.ย. 2024
- Asking young working adults in Singapore how much they save and how they budget as cost of living increases!
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I am surprised none of them said housing/car are their biggest expense.
They’re all pretty young so not at that life stage yet perhaps
Better to cover the older age groups so that you can hear different answers. They will tell you they spend on kids, tuition fees, mortgage loan repayment, parents allowances and hospital bills, insurance, taxes...the list just goes on and on. 😢
30-40+ usually don’t want to be interviewed 🥲
Guess I'm a rarity then. Fresh grad and have a jap car. Savings 15-20%.
It true housing is a big portion and paying through cpf sometimes people forgot it their money too. Car as well.
I want to know the best method
I want to know the best method!
I’m curious if parents of these youngsters in their 20s (fresh grads or just entered the work force) have saved money for them since they were young and given the money to them. This could help boost their savings etc. A video on this perhaps. Thanks
Not really sure what you mean. I think most ordinary singaporeans on average don’t really have much to inherit from their parents. Maybe a savings plan or two at best? HDB if luckier.
Nice colab with investor Chee Keng
I was on their podcast last year! th-cam.com/video/R6MeHrI_Lyo/w-d-xo.html&pp=ygUVYmFnaG9sZGVyIHBvZCBhZHZpc2Vy
2yrs ago, i can save at least 50% of my income every month. last year it started to drop to an average of 40%. fast forward to this year, i need to really eat cai fan everyday to save 30% of my income. also stop eating Mcdonald's, Ya Kun, Toast Box cause its becoming ridiculously expensive.
Wah how much do you spend on food per month
I think the interviews are a targetted group of ppl that are in some financial event that are mostly financial savvy adults. Not very accurate but good to know.
Thanks for the comment and you are right about the event. This video is a continuation of the one I did at Seedly Personal Finance Festival: th-cam.com/video/e8xsWb47f80/w-d-xo.html
Suprise people only saving 20 percent. Me and my wife saves 70 to 75 percent of our income. Singaporean chinese couple with 2 kids and a maid here.
20% is a bit low but also depends on what career stage/income one is at. Since you have 2 kids already you are likely much further into your career path compared to the young adults in the video.
@@Sethisfy no, I just mid level
Financially savvy people understand that inflation is a problem worldwide, not just in Singapore. Instead of blaming the government for everything, they focus on 'living within their means'. It's great to see many young people adopting this mindset. Living below your means is important, especially in case of unexpected events like job loss. Imagine losing your job and still having to pay off a condo mortgage and car loan.
Yeah living below one’s means is very important. Even then I come across quite a few people who earn $20,000 and spend $15,000. Technically still below their means but if anything happens it would be very difficult for them to survive an extended period of unemployment
I want to know the best method