Hi,

Was wondering how much everyone is savings each month. Do you save money from your net salary (after deducting EPF, income tax) each month? If yes, how much do you save?

Are you satisfy with the amount you save?

If not, how much you would like to save?

And are you still single or married? Are you still staying at your parents house or independent?

Thanks Ya..

This post has been edited by goodyear: Feb 11 2011, 07:41 PM

Don't have negative option?

only 16% from net salary..

definitely not satisfy...

10% of my net salary. not satisfy, but want to finish pay my PTPTN loan asap.

around 20% average... but last time salary lower can save more than 20%...

Save 20%.. Maintaince since two years ago.. Maybe this year lower to 15%..

Expenses increase while wages static.. cannot cope..

35%, because I'm living with my family and converted my PTPTN to scholarship.

who voted 100%?

maybe boss...

i save around 15%...
not satisfy , i want to save 40-50%

I save about 50% of my salary from my day job and almost 80% of salary from my part time job.

(Almost)Same. Used to save about 52% of my day job salary and apart from it, I worked part time to supplement my income which I hardly use(saved about 85% of my supplement income which is a third of my day job salary). I'm staying outside, having to bare the cost or renting and etc. Those savings are after deductions.

Not much load now, so can save about 70%.
But sometimes will use a huge sum to buy gadgets etc.

0%-5%

agree....no points saving so much $$$ and end of a day spend all to buy a gadget like me
nowadays i'll work out a saving plan already at least 10% monthly

How to save 100% of salary? Usually I can think off is jump aeroplaner's and working rich-man-wives.

technically 50% but will be harder soon coz need to get a car and planning to max monthly payments to minimise loan tenure. once thats done, aiming for 70-80%

I dont earn that much, i just tend to live below my means compared to my peers.


edit--> forgot to say that im single and completely independent, rent food etc. all own expenses

This post has been edited by 0mars: Feb 11 2011, 10:48 PM

I've been giving my parents about 35% to 40% of my net salary ever since I started working 2 years ago (they are not working, and it includes the installment for our family car). So I have 60% left to use - and I live with my boyfriend for the past 2 years, in which I have to pay for my telephone bill, internet, food (i tend to be stingy, so eat cheap food lah, but occasionally we spend on fine dining for special occasions), entertainment, utilities, rent. In the end, 10% left. Definitely not satisfied...

Increment + bonus doesn't help much as things are getting much more expensive as petrol increase = food/drinks increase. But luckily I don't have a car to drive around (but i pay for family car), I live in city centre (hence rent is higher) and I walk or take LRT everywhere I go. But I do have nice friends who are willing to drive me sometimes

Only debt is PTPTN and car.

Started working in 2009. Managed to save 45% of my total salary in the 1st year, then only 30% last year because of wedding (caused severe financial blood loss, luckily its all over now haha).

Aiming to save 40-50% of my salary this year.

Well, I can save bout 50-60% a month. Have been dragging my loan for half a year already though.

Most expenses is on travelling and accommodation.

Try being an expatriate worker for a MNC.

Usually income tax and EPF equivalent are paid by employers. Also the accommodation rental, utilities, car & maintenance, hp & calls, food (lunch & dinner) and also ticket back to MY is all borne by employers. With all these 'perks' you can save >100% of your salary. But there is a price... they work you to the bones and you need to adapt to new environment.

This post has been edited by gark: Feb 12 2011, 09:21 AM

30% for me

Salary remains static, but prices keep increasing.

very hard to say bro

is insurance considered as saving?
is investment for long term considered as saving?
giving money to parents, and parents is saving the money for me. is that considered saving?

This post has been edited by property101: Feb 12 2011, 12:58 PM

1)yea . . . endowment plan is savings plan
2)long term investment can be consider savings provided it generate a decent returns over the years, & not make a loss
3)hmmmm . . . . . its good to let our parents manage the money for us, if you are inexperince

Paying off the home loan should be considered too, since property is part of net worth.

i feel so regret for not saving any money during my first 2 year of work. first year i used up all for enjoying myself, second year started to pay car loan and max out on spending. the only chance i can save is when i receive bonus.

now 3rd year, i am determine to discipline myself and start saving minimum 20%.

well, its better late than never

Well said.

100%??? who so pro here? hehe
share ur exp la...

wah...like that, manyak wor... 83%

but in terms of cash, slightly above 20% la

This post has been edited by property101: Feb 20 2011, 03:18 PM

21yrs old, constantly 70% since i got my first job 6 months back*means gadget & clothing etc spending substracted from 30% left* always put all savings on capital growth investment*not yet starting cashflow investment since i still adjust to working life properly* gonna 74% saving rate after next increment*soon * living with girlfriend, having several occasion in a month. no car installment*never thought its a good investment unless i've too much cash on my pocket, n public transport in KL is good enough for me* still learning to manage my fund better, hope to learn from lyn fellow

not statisfy at all, saving less than 20% after pay for monthly car loan, food and bill... life is so struggle

save 20% after 50% on house loans...must do better

i save 40 percent but im still single not many commitment

saving is good its foundation of wealth building..

but saving alone wont make u rich..unless you're REALLY really patient.

Hoarding wealth is a lousy way to make wealth.. Give away ur money and make good investments. It will be more wise and good for society.

This post has been edited by myvi5949: Feb 21 2011, 08:24 AM

i do not save but invest 40-50% of my salary..

So far I am able to save ~50% of my net salary... of the 50%, 30% goes for investments (shares and unit trusts) and rest are in cash.

40% of net income; used to be 60% but now with kids xpenses increased. BTW I consider investment & purchase of assets as a form of saving.

Quite satisfied with frugalness, infact gonna reduce saving % as life is short & gonna need a MPV soon

Double income with 1.5 kids.

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Added on February 22, 2011, 10:10 amInvestment considered as saving-la i.e. u save 40 to 50% of your salary

This post has been edited by rakyat: Feb 22 2011, 10:13 AM

% saving should go up next mth, finished car loan

6 months work with 70% saving? Very impressive. When I started to work, I barely able to save 30% and I dont have any loan at that time too. Rent + food + utilities already eat 50% of my salary.

Currently able to save 50%, with my car loan finished in 5 months, I expect my saving to reach 60%.

i am planning to save rm4k per month

what to do with this 4k? dump to housingloan?

u have the brain to make that amount of money, that allows you to save rm4k/month, believe in yourself with some investment

hi, i m single and i saved >100% of my salary coz i hv few properties for rental. my biggest expenses are insurance, food and entertainments eg pub, spa etc which easily can covered by rentals.

more than 100%..sometimes 200%
Do you think IRB is capable of tracing IP address??...

my income is 10k but i spend 11k.how to save?

Hi spoon2272,

Can you share with us what did you spend on?

Thanks ya..

About 40% - 60% every month

Guys. im impress many if you can save that much

lets say 1 person earns rm3k

phone bill - rm150
life insurance rm150
Petrol / toll - rm500
give parents rm500
pay car rm550
savings 20% rm600
total rm2450

Balance rm550

kind a bit tight to be able to save 20%...so how do you guys manage. to take the fact that not paying for any house or house bill here though..?

i invested half of my monthly salary in insurance and unit trust.

0%-25%.....been working for 4 years already and have a saving of 2 months salary. Currently using the extra money to create passive income...

Hope to increase from 2 months salary saving to 3 months salary saving...

threre, you still can save 20%

some people cant even save 10%..

but best go for 30%

those that save above 50% of their net income, can share how they do it? salary too high and less commitment?

50% on average. Expenses are food, about 600, petrol 200, parents 400, others 300 here and there and that's it

7.23% can save 100% that is so gOOd~
does the saving you guys mentioned include the 11% that goes to kwsp?


This post has been edited by jtleon: Mar 6 2011, 01:56 AM

Yeah I can't see any way you can save 100% unless you are an expat and get all your expenses paid. Even if you consider paying off a home loan as savings a certain percentage of that is interest.

I think some people are being a bit silly/dishonest in the poll.

around 35% on average. thinking of moving in with my bf, then i can rent out my apartment and increase my savings

Still trying to save minimun of 30% of my salary..

Live within your means = live frugally; do not upgrade your car - it is a huge liability (depreciation + leasing interest)

Get your money to work for you - passive income

This is a very normal basic married fella/ family expenses... without kids!

phone bill - RM100
electric/ water bill - RM180
internet bill - RM100
astro bill - RM120
House installment - RM1600
car installment - RM900
parents - RM500
wife - RM500
insurance - RM250
petrol - RM400
Touch and go - RM100

how much d??? = RM4750....
how to save???.... have kids?? sigh...

Why give wife RM500? Single income? Then abit susah in Klang Valley unless income is > RM10k

I think you can still save a bit more.

Astrobill - There's no need to watch Astro, or at least subscribe the cheaper package. I dont know what's the cheapest deal as I dont watch Astro/TV. Try do use for free time to do exercise instead of watching TV. Healthier that way, and save on medical cost in the long run.
Phonebill - Try not to use so much mobile phone, or use pre-paid to receive calls or for emergency.
Internet - Go for cheaper package, or at least go for the package you can lump in you local + interstate calls for extra 20 ringgit plus. (Cant remember the exact amount, but it's offered by TM)
Insurance - Buy only what's needed. Buy just enough to cover liabilities and your dependence.
Petrol + touch and go = guess that's for travelling to work. Can find a workplace closer to home? That will be a huge saving.

I personally earned high 5 digits a month, but I spend less that you on phone bill, asto bill, car installment, insurance, petrol, touch and go.

saving 25% of my salary... tried to fork out funds to invest every 2 months once...

i'm lucky enough to have a job near my home but it still won't save much as the salary consider low for a person working for 2 yrs... =="

try to cut unnecessary spending such as astro, internet+mobile usage fee (opt to use package plan), buying 2nd hand small or fuel efficient vehicles, try window shopping rather than $$ spending shopping...

life's tough but still able to survive...

When single, use to save 80% annual nett income (inclusive 1 job, 2 side business)
Current married, joint saving with my wife at 50%. With all expenses on our own (house, car & etc)

0-0.01%

i'm saving 40% max that's it

I don't get it.... why some ppl managed to save 100% from what they are earning.?

no need to eat? even if you surf lowyat.net you still need to pay money to your ISP...

if you are earning a lot of money... you will still be able to save 99% of your income... not 100%...

gigolo or mistress can...

on a serious note, i believe when they say they can save 100% of their earning, it is their typical 9-6 day job. And they only live on the income from their investment. Thus thats how they can save 100% of their earnings aka salary.

Live with parents also can save 100% mah.

Live with parent no need to give them monthly maintainence/ allowance-ah???

This is called 'pai kar chai' or 'ee sai chou'

If the parents still working or own self business, you think need to give?

It is not the money but the act of giving . This is part of chinese culture of Filial piety. It shows respect and gratitude to your parents.

Remember the CNY advertisement - scene at old folks home and elderly ladies boasting bout their children high income, each one progressively higher then the other except 1 meek lady keeping quite. Next scene a proton roll-in (non-high income child), it was the meek lady's son visitng her while all other ladies can only look on jealously..... Filial piety my friend

My mother & father in-law both gov servants, gets monthly pension with free health care and paid up house & cars but we still give them monthly allowance; do they need the money? No. Can they do with the extra? Yes. Do they use the extra? I dunno. It is just my duty to my parents

This post has been edited by rakyat: Mar 9 2011, 05:51 PM

There are some people that just don't give, no matter what duty or culture we are talking. And I've seen these kind of people. Eat, Use and live with parents (semua parents). Save 100% salary and end up buying useless thing.

i agree with edyek. Some people just dun give the parents especially when they are in bad term with their parents and their parents is financially stable. I've seen before too. Bad, very bad. hmmm

Save as much as I can after expenses but sometimes will spend something I plan to buy ,not buy randomly

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Added on March 10, 2011, 8:29 amDifferent case if parent don't want children money

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Added on March 10, 2011, 8:30 amDifferent case if parent don't want children money

This post has been edited by Sebastiank21: Mar 10 2011, 08:30 AM

My parents are different. When I want to give them allowances, they refuse to accept it. Instead they ask me to save and invest it...

i try to save at least 10% monthly, normally will try 20%. im having a hard time saving coz i like to shop, but i don't want to end up with nothing so die die must save something each month ><

not satisfied and i'd like to save 40% if i can.

my parents also refused to accept money from me coz they worry i don't have enough for myself but i insisted. sometimes i feel they r much more financially stable compared to me and what i give sure feel like 50cent oni compared to what they have, but i still give because i feel like it's what i should do after all they've done.

Me too my parent don't wanna take money from me,but I will buy things for them since they don't wanna money

My grandparents even more keng. Not even appear in the scene at the Old Folks Home. Cos of real filial piety, they stay with my eldest uncle!

After deducting tax & epf... what's left every month I save 40%

My method is to force saving, if I didn't buy a house I would have spent the money

Next saving plan is to set aside my bonus to buy gold... because if need emergency funds house is slow to sell.

Not to mention if only need small amounts RM10k to RM20k its not worth to sell an entire house

This post has been edited by aaronpang: Mar 16 2011, 11:02 AM

hmmm, still can?
astro... mother watch wah lai toi...
phone bill 100 is needed iphone plan ma...
internet.. how to cheaper package? Rm90 is best already... save Rm10 at most...
insurance... i think Rm250 is very fair... if anything happen to me.. or sick... i, my wife and mother taken care off... and can clear the house debts...
petrol + touch and go... no choice... is stay far cos cannot afford nearby bangsar or bkt bintang area?
car installment... vios oni wor... sommore havent included the maintenance/ motor insurance.. which car you have? maybe you put in more capital... or longer installment...
oni thing for me is lucky i dun have any credit card debt.. otherwise i more stress...

but how u earn 5 figure and spend less than me, cos i consider my spending low d?
i am not able to save enough to obtain another property to let out also... although i have plans to...

not quite....

I occationally dine with my mum or dad and they pay for it.. does that mean I am pai kar chai? cos the expenses will be claim back to family business.....

and they are partially retired while I spearhead the family business.....

pai kar chai is someone who spend money as they like for totally unnecessarily things... e.g. 10k bag

while never work at all....

and of course.... parents are filthy rich

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Added on March 16, 2011, 11:53 ammy parents dont even want my money...

they claim that they have more than I do....

e.g. does lee kar seng`s son give lee kar seng say USD one million per month to buy meal?? hell no

This post has been edited by Awakened_Angel: Mar 16 2011, 11:53 AM

so nice. My mum complaint i did not contribute enough o the family no matter how much i give. Their phone bill also i pay, internet bill in the house also i pay. I give pocket money every month, CNY give extra. Still not enough. Haiz...

Parents esp. Chinese parents view children as investment for their old age retirement.

Your birth is solely for commercial reasons... such practice is seen in the past and will continue in the future.

Interesting bit of history:-
Sauce http://en.wikipedia.org/wiki/Ospedale_degli_Innocenti
Others (mothers) would even abandon their own children at the Innocenti, get hired as a wet nurse and end up feeding their own child with pay. There was also continuation of salary from the hospital after the death of an infant.

'pai kar chai' means a child that lack filial piety, enjoys life while parents 'suffer' can be from rich or poor.

e.g. senior employees > 60 yo praying that their contract is renewed every 2 yrs coz they need the salary (to support their adult children's car/ hse loan?) Very old businessman still actively running his business daily coz children r still 'helping' only (as oppose to take over business/ actively managing) If you ask them, they will claim that they enjoy what they r doing, comfortable with their 5 figure salary and can even assist in paying d/payment for their adult children's house/ car.

Really-ah? Wanna die oredi still need to work-ah? Nothing better to do in life but work-ah?

Compare a person retires at 45 yo and enjoy a humble life of leisure or a person working until death while (children) living a luxurious life.

Parents paying for dinner or buying stuff for children is not wrong; I was refering to adults working children still staying with parents but not contributing monthly expenses

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Added on March 17, 2011, 12:19 pmU r a veli good person and deep inside your parents are proud of how you turn out

This post has been edited by rakyat: Mar 17 2011, 12:21 PM

voted 40% of my salary even i earned only 2k in SG.
the 60% including my insurance, medical card premium, PTPTN,rental, transport, housing loan installment, car servicing (I bought 2nd hand car and some servicing work i do it by myself).
the rental of my house is given to my mother.
i work in sg but i stay at JB. i take bus to SG(5 hrs daily and i wake up at 5am everyday.).
i use IDD card and Prepaid car for my mobile phone and internet. i eat at Kopitiam.
i am not satisfied and i believe those ppl who earn 20k also not satisfied.

This post has been edited by alfred liew: Mar 17 2011, 03:30 PM

cant save money in today's world, if can breakeven consider to be very good already

Save 0% nuffsaid

Since most of us save but the question is what did you do with the money that you saved?? put it inside the bank?? any comment?

I invest 20% out of the 40% I save in ASB and the rest in my savings account

ASB - is that the exclusive 1 (for bumi only?), if it is then u should put in 100% of your saving and infact take up another RM250k loan from Maybank. Forget bout UT-la, buying/ investing in property or shares or gold, no need Takaful insurance or even Tabung Haji (5% to 6%??). When the time comes, u can withdraw from ur ASB to self finance your haj

U just cannot lose on it and what else can give 8% to 18% return while principle is guaranteed?

Better then doing business!!!! Yet we have poor bumi

This post has been edited by rakyat: Mar 24 2011, 11:52 AM

Invest in property meaning I have to buy them right? Well, property prices is really sizzling up right now....

Looky brother, property investment is all bout the yield and u will be lucky if you can get consistent 3% after minusing your bank loan, u oso need to worry bout tenant mgmt, repairs and maintainence ect.

Why take the risk, waste my time and effort when I (if I'm malay) can just take a maybank loan without any deposit and put into ASN/ASB. Guaranteed highest return of any principle guaranteed investment!!

After 1 yr maturity, Maybank will just minus the interest and remit the dividend to me. After 10 yrs, the free money is all mine w/o even needing me to service any installment!!! If any Bumi have not maxed out their ASN/ASB and wanna talk bout savings or investment is an idiot.

Even wonder why your office despatch boy or filing clerk happily have 5 children and still can afford to turbo his kancil or marry 3rd wife? He's got his retirement plan curtesy of PNB.

This post has been edited by rakyat: Mar 24 2011, 01:38 PM

If you're investing then you're not saving...saving is when principle is guaranteed....

Buying property is no longer a good investment....it used to be but not anymore...as so many new properties are being built while more working adults are staying with their parents...price will fall or increase slowly...
and when you retire and want to stay there (because you've working at another city) it's old and rundown already....

That's my point, property prices these days are so hot....not even worth it

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Added on March 24, 2011, 2:49 pmWell, everyone have different risk-tolerance and mine is not quite up there yet. Besides, "pay yourself first" is my personal motto right now


This post has been edited by solemn_86: Mar 24 2011, 02:49 PM

+1 to Angel contribution, my situation more or less similar to you.

saves up to 20% every month...
Spend mostly for basic needs, and some cash for personal leisure expenses and fiancee stuffs when she *teh* me T^T

My parents (businessman) does not requires me to give them money every month, and the reason was in a sarcastic manner -

:" Son, you earn so less, suen laa (then gave me a smirk)...":

Me: !@#%^&^!@#$%^&^$#@@#$%^&&^%$#@#$%

Saved around 30%.
Actually can save around 50% but every time, hands itchy to buy gadgets.

Sigh.

right now saving around 40%, just started working for about 1.5 year. used to be more when started working but then bought a car for travel to work. lived with parents, didnt pay rent but pay internet and phone bills. in reality i can save more living by my own since travel alone (inclusive car installment, parking, toll, gas) from my parents house to work cost me 40% of my salary:(. but have to stay with my parents since my dad is still working and my mom is sick. yes i didnt gave my parents fixed amount of money every month, but i still give during raya, and occasionally when i get bonus, also occasionally buying grocery and my mom's medicines. but yeah, my moms also complaints that i didnt contribute enough. not to complaint or anything, its just that previously i couldn't gave monthly amount to my parents coz i loaned my money from my saving to pay for my parent's CC debts, house renovation, and only have enough to spend food and travel. all have been paid off now though, and maybe next month or so, will get my salary increment, by which i can start giving my parents some amount of money monthly.

This post has been edited by spoonudus: Mar 27 2011, 09:58 PM