Singapore-based financial blog that aims to educate people on personal finance, investments, retirement and their Central Provident Fund (CPF) matters.

Wednesday, 2 December 2015

NSF Private's Pay on Li Ka Shing Advice

In our previous post, we shared about how we can adjust Li Ka Shing's advice on money management to Singapore's version and circumstances.
The link is here: Li Ka Shing's Advice - SG Version

Being an NSF, I think it is only fair that I break down my salary and how I match it to Li Ka Shing's advice on money management!
Of course, I did it with some adjustments to my circumstances.

Difference using Cash or CPF to pay Housing Loan?
Accrued Interest More than Housing Profits?
Fine Print of CPF Money Withdrawal
5 Financial Things to do in your 20s
Singapore Finance Minister on Personal Finance Part 2
Repaying CPF Accrued Interest - Why?
Reducing CPF Housing Accrued Interest

Basically, I'm in a everyday book-out unit, so only lunch is provided.
I have to settle my own breakfast and dinner.
My pay as a Private is $480.
Breakdown is as per below

81.3% ($390) - LIVING - transport, food, cabs (late for work), groceries etc.
                         $62 goes to transport. Basically left with a budget of $10 per day for 2 meals.
8.3% ($40) - SOCIALIZING - bulk of it goes to pay bills. Where got pay to treat! Furthermore, I won't promote faster or earlier even if I treated my officers/Enciks, so let's save that cost.
0% ($0) - LEARNING - took up no courses, but went to the library to borrow books to read.
0% ($0) - TRAVELLING - where got excess pay to save for travelling.
10.4% ($50) - SAVE/INVEST - saved in my bank account.

Depending on you are in a stay-in or stay-out unit, it will vary.
But, if possible, its always best to save more than less, spend less than more.

Remember to offer your opinions. If you don't put your two cents in, how can you expect to get change?

Have a feedback? Tell us now! 

Subscribe to us or 
Follow us: Investment Stab on Facebook
Share this :


Post a Comment