Hi dear Lyn bro & sis, i need some advice & view for my financial management.
Below is my financial report

I'm married so will add in all my wife income & family expenses too.

Monthly :
Total Income : 9k-10k (me + wife)

Child : born soon (this year)
Car & House loan : $3000
Car Maintenance : $700 (including insurance, petrol & all service)
Phone & Electrical bill : $400
Personal Insurance : $500
Meal : $800
Personal Care : $200
Tax : $200 per month (divided by 12mths)
Parents : $600
Outstation : $300
Medical expenses : $300
Future child expenses : $1000
Etc : $200
Total Expenses : Around $8200

After monthly expenses, we left around 1k-2k.... please advice any planning changes i should make.
Should i just save the 2k into bank, or make some investment ?
I already mess up my car loan few years ago... car loan itself already more than 2k per month... 2 years ago my income was few K higher... now still left 2yrs+ to finish the loan.

Yes, it's all for 2 person.
Parents also both side.
Medical expenses $300 is for those minor cough which cant claim by insurance. So i just leave it there... somemore my wife is pregnant also need checkup

Any plan to recommend, katrinacheong ?

Maybe becos i suffer from income drop few years ago, now really scare 2k saving not enuff.
If next year income drop another 2k means i no more saving. And if drop more than that means i going to eat grass with negative income.

My car is a honda accord 2.0, not a fuel guzzler it's still acceptable. If sell this accord and get a smaller car... mean i need to loan one more time from bank again... then i also rugi becos of bank interest %

1k for child is estimate, my mum is not very healthy so can't help...

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Added on May 14, 2012, 11:33 amCar Maintenance : $700 (including insurance, petrol & all service)
Car Ins. $170 (after 55% NCB)
Petrol $400
Every 5k mileage service around $130

Medical $300 for backup... i just leave it there.... if didnt use will just bring to next month and so on


This post has been edited by LifeIsNotEasy: May 14 2012, 11:34 AM

Hmm... will take into serious consideration about my car
I know car insurance & servicing is not monthly expenses, but i just divide it into monthly so that i can see my monthly report more clearly

Looking forward for more expert to give more advise

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Added on May 14, 2012, 2:13 pmYep, waiting for them to give advise

This post has been edited by LifeIsNotEasy: May 14 2012, 02:13 PM

Yeap the car is new, 2years+ bought in 2010
Loan for 5 years.