View Poll Results: How much savings you with have? (Relative to your monthly income)

Voters
33. You may not vote on this poll
  • 1 month equivalent

    2 6.06%
  • 2 months equivalent

    5 15.15%
  • 3 months equivalent

    3 9.09%
  • 4 months equivalent

    1 3.03%
  • 5 months equivalent

    0 0%
  • 6 months equivalent

    4 12.12%
  • Never enough!

    15 45.45%
  • I can retire now!

    3 9.09%
Page 1 of 3 123 LastLast
Results 1 to 20 of 58

Thread: How much savings do you have?

  1. #1
    Senior Member Kit's Avatar
    Join Date
    Jan 2002
    Location
    Upper Bukit Timah
    Posts
    11,650

    Default How much savings do you have?

    Hi folks! Let's do this again.

    We've been taught to save for a rainy day. However, how much are you saving a month? How much savings do you think you are comfortable with? To some, it has been a constant struggle to meet saving targets or were they being realistic to begin with? Let's talk.....

  2. #2

    Default

    Quote Originally Posted by Kit View Post
    Hi folks! Let's do this again.

    We've been taught to save for a rainy day. However, how much are you saving a month? How much savings do you think you are comfortable with? To some, it has been a constant struggle to meet saving targets or were they being realistic to begin with? Let's talk.....
    Rule of thumb. Save at least 20% of your salary

  3. #3

    Default Re: How much savings do you have?

    Quote Originally Posted by donut88 View Post
    Rule of thumb. Save at least 20% of your salary
    Does it include insurance premium, cpf contribution, ?

    Actually what is the ideal lump Sum? 50k

  4. #4
    Member JohnJon82's Avatar
    Join Date
    Mar 2011
    Location
    Lavender
    Posts
    453

    Default Re: How much savings do you have?

    Quote Originally Posted by Kit View Post
    Hi folks! Let's do this again.

    We've been taught to save for a rainy day. However, how much are you saving a month? How much savings do you think you are comfortable with? To some, it has been a constant struggle to meet saving targets or were they being realistic to begin with? Let's talk.....
    Saving in terms of cash in bank? Or other investments etc? About 40% including CPF contribution, bank have about 6 months pay for rainy day and ponding... Big flood coming soon?
    Canon EOS 600D | 17-40 L | 24-105 L | 100 L | 50mm 1.8II | BG-E8

  5. #5

    Default Re: How much savings do you have?

    Every month. As soon my salary come in. I put 30% of it into another account.
    The rest ill use it for food, bills, transport, parents and etc etc and if possible after many months or end of year a good present for myself.

  6. #6
    Senior Member Kit's Avatar
    Join Date
    Jan 2002
    Location
    Upper Bukit Timah
    Posts
    11,650

    Default Re: How much savings do you have?

    Quote Originally Posted by donut88 View Post
    Rule of thumb. Save at least 20% of your salary
    We all have figures. They all differ. It would be more interesting to know how well we can keep to these resolution.

  7. #7
    Senior Member Kit's Avatar
    Join Date
    Jan 2002
    Location
    Upper Bukit Timah
    Posts
    11,650

    Default Re: How much savings do you have?

    Quote Originally Posted by JohnJon82 View Post
    Saving in terms of cash in bank? Or other investments etc? About 40% including CPF contribution, bank have about 6 months pay for rainy day and ponding... Big flood coming soon?
    I was thinking in the line of cold hard cash.....

  8. #8
    Senior Member Halfmoon's Avatar
    Join Date
    Feb 2005
    Location
    Hougang, Singapore.
    Posts
    4,590

    Default

    Quote Originally Posted by Kit View Post

    We all have figures. They all differ. It would be more interesting to know how well we can keep to these resolution.
    It is not easy........
    Art is perception; Perception is art.

  9. #9

    Default Re: How much savings do you have?

    let's see. right now i'm saving about 70% of my income

  10. #10
    Senior Member Big Kahuna's Avatar
    Join Date
    Dec 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    2,127

    Default Re: How much savings do you have?

    Left pocket in ...right pocket out....my mother aways joke my palm leak $.....

  11. #11

    Default Re: How much savings do you have?

    Quote Originally Posted by Big Kahuna View Post
    Left pocket in ...right pocket out....my mother aways joke my palm leak $.....
    is your palm always grasping around something?

    that could explain the "leaking" part.


  12. #12
    Senior Member Sion's Avatar
    Join Date
    Jan 2004
    Location
    新天地
    Posts
    4,768

    Default Re: How much savings do you have?

    Quote Originally Posted by Kit View Post
    How much savings do you have?
    $20 in my back pocket.

  13. #13
    Member Bukitimah's Avatar
    Join Date
    Nov 2010
    Location
    Singapore
    Posts
    1,261

    Default

    This is interesting. One thing for sure. If you simply put aside $ in the bank, your saving will depreciate faster than inflation.

    For investment, there are plenty but what is best? If you ask around, many will tell you property. I heard many telling people how much their HDB is now worth. Is that good for us?

  14. #14
    Senior Member
    Join Date
    Feb 2005
    Location
    sing
    Posts
    3,353

    Default Re: How much savings do you have?

    What savings?

    Must prepare to queue up at Kim Yam Road temple for free charity lunch.




    The most destructive silly notions that people have are:

    "Invest" & "make your money work for you" & "don't let your money lie idle in the bank"

    Conmen simply love to say the above to suckers. Conmen say to these suckers:
    "Trust me" .................................................. .................................................. .................................................. ............... (to rip you off)

    Mai kay kiang. If you have LOTS of money lying idle in the bank, thank your lucky stars and don't try to be too smart.... like those pitiful people protesting at Hong Lim Park about Unit Trusts, Lehman Brothers minibonds, Some-Bank-high-notes.......
    Last edited by ricohflex; 6th February 2013 at 09:20 PM.

  15. #15
    Member JohnJon82's Avatar
    Join Date
    Mar 2011
    Location
    Lavender
    Posts
    453

    Default Re: How much savings do you have?

    Quote Originally Posted by Bukitimah View Post
    This is interesting. One thing for sure. If you simply put aside $ in the bank, your saving will depreciate faster than inflation.

    For investment, there are plenty but what is best? If you ask around, many will tell you property. I heard many telling people how much their HDB is now worth. Is that good for us?
    No risk method to counter inflation is use it all, use it all now, no money left how to depreciate.
    Canon EOS 600D | 17-40 L | 24-105 L | 100 L | 50mm 1.8II | BG-E8

  16. #16
    Senior Member
    Join Date
    Jul 2008
    Location
    Singapore
    Posts
    4,195

    Default Re: How much savings do you have?

    Quote Originally Posted by Bukitimah View Post
    I heard many telling people how much their HDB is now worth. Is that good for us?
    Only if you have fully serviced your loan and have another property to stay in. I have also heard of people who jumped after they sold their HDB to find that they fall well short, after paying off loan, interests and duties, to cover the new HDB purchases.
    Last edited by ManWearPants; 7th February 2013 at 10:59 AM.

  17. #17

    Default Re: How much savings do you have?

    Quote Originally Posted by ricohflex View Post
    What savings?

    Must prepare to queue up at Kim Yam Road temple for free charity lunch.




    The most destructive silly notions that people have are:

    "Invest" & "make your money work for you" & "don't let your money lie idle in the bank"

    Conmen simply love to say the above to suckers. Conmen say to these suckers:
    "Trust me" .................................................. .................................................. .................................................. ............... (to rip you off)

    Mai kay kiang. If you have LOTS of money lying idle in the bank, thank your lucky stars and don't try to be too smart.... like those pitiful people protesting at Hong Lim Park about Unit Trusts, Lehman Brothers minibonds, Some-Bank-high-notes.......
    it's not about NOT investing your money, or having a lot of savings. if you want to invest, invest wisely, and ensure that you have enough in your bank account to back you up.

  18. #18
    Senior Member edutilos-'s Avatar
    Join Date
    Dec 2010
    Location
    The Universe
    Posts
    5,991

    Default Re: How much savings do you have?

    Quote Originally Posted by ricohflex View Post
    What savings?

    Must prepare to queue up at Kim Yam Road temple for free charity lunch.




    The most destructive silly notions that people have are:

    "Invest" & "make your money work for you" & "don't let your money lie idle in the bank"

    Conmen simply love to say the above to suckers. Conmen say to these suckers:
    "Trust me" .................................................. .................................................. .................................................. ............... (to rip you off)

    Mai kay kiang. If you have LOTS of money lying idle in the bank, thank your lucky stars and don't try to be too smart.... like those pitiful people protesting at Hong Lim Park about Unit Trusts, Lehman Brothers minibonds, Some-Bank-high-notes.......
    There are good investments and bad investments, and there are always risks involved.

    Nothing wrong with leaving your money leaving idle in the bank as FD, the returns are low, and the risks are low. Some people may view this as eroding away the value of your money because the interest rates aren't going to be beating inflation. That's your choice, as long as you acknowledge that your returns aren't great. Also, if you have an upcoming commitment you also can't risk losing even part of that money either, that's another reason to stay put.

    At the same time, there is also nothing wrong with diversifying this, by taking the amount of money you can tolerate taking a slight or moderate loss on, do some homework to invest wisely. You won't be 100% on top of it, no one has perfect foresight but with your eyes open and expectations tamed, you probably won't end up in Hong Lim Park.

    It has nothing to do with investing or not, it has everything to do with investing WISELY or not. Just because the whole fiasco happened doesn't mean that everyone should just sit on their money in the bank. That's silly advice imho. The lesson learnt from that experience was to take everything people tell you with a pinch of salt and do your own homework. The same goes for purchasing cameras, and the same goes here (albeit with much greater impact on your life if you don't heed it).
    Last edited by edutilos-; 7th February 2013 at 11:16 AM.

  19. #19

    Default

    More like how many months you can afford not to work. My longest one is 1.5 years !
    But now with 2 kids, there will be much much shorter ...
    Last edited by ahboy168; 7th February 2013 at 01:24 PM.
    | 5Diii | 24 ii | 40 | 24-70 ii | 24-105 | 70-200 F4 IS | 270 ii | 600EX-RT |

  20. #20
    Senior Member Halfmoon's Avatar
    Join Date
    Feb 2005
    Location
    Hougang, Singapore.
    Posts
    4,590

    Default Re: How much savings do you have?

    Quote Originally Posted by kei1309 View Post
    is your palm always grasping around something?

    that could explain the "leaking" part.

    I guess he must be grasping his 1DX too much.......
    Art is perception; Perception is art.

Page 1 of 3 123 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •