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 How much 'should' working class save?

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xcxa23
post Jun 12 2019, 01:24 PM

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Calculate your fixed expenses
Find out which investment tool can generate income to tank it

Then add your hobby, luxuries goods/services expenses in
Boost your investment tool until able tank the extra expenses + overhead.. ( inflation)

I pretty agree with living frugally but not to extend of feeling like forced into it.

And if you felt like that, you work hard to get that passive income coming.

When you reach your goal, not needing salary to pay for your necessities, wants and desires, it time for you to enjoy.


Ramjade
post Jun 12 2019, 03:07 PM

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QUOTE(GodTier @ Jun 12 2019, 01:11 PM)
Car and house are the simplest way to show how capable are us.

If I ride kapcai for transportation, any polis, jpj would pull me over for random stop check. If drive mercedes, average joe would at least respect a bit. That's the reality.
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Well if that's your thought then good luck try to keep the looks up. You want to continue working or you want to have the choice to not to work where you can finally enjoy the fruits of your labour? By trying to keep the look most likely you will overspend on unwanted item.

Many priority banking customers are aunties and uncles dress like pasar malam seller.
wongmunkeong
post Jun 12 2019, 04:50 PM

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QUOTE(Ramjade @ Jun 12 2019, 03:07 PM)
Well if that's your thought then good luck try to keep the looks up. You want to continue working or you want to have the choice to not to work where you can finally enjoy the fruits of your labour?  By trying to keep the look most likely you will overspend on unwanted item.

Many priority banking customers are aunties and uncles dress like pasar malam seller.
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sh... dont la
else how the companies make $ and pay us dividends leh

each of us have the right to spend on our own priorities ma
smoking, drinking, women, big cars, big homes, yachts, equities, real assets, etc.

This post has been edited by wongmunkeong: Jun 12 2019, 04:51 PM
[Ancient]-XinG-
post Jun 12 2019, 06:32 PM

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4 to 10% low risk??

LOL!!!

Where got 10% low risk?

Don't count in asset as total asset. Esp house and car.

It's all unrealized gain.
Ramjade
post Jun 12 2019, 11:30 PM

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QUOTE(wongmunkeong @ Jun 12 2019, 04:50 PM)
sh... dont la
else how the companies make $ and pay us dividends leh

each of us have the right to spend on our own priorities ma
smoking, drinking, women, big cars, big homes, yachts, equities, real assets, etc.
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Agreed. Shhh ph34r.gif
Capt. Marble
post Jun 13 2019, 02:55 PM

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QUOTE(wongmunkeong @ Jun 12 2019, 04:50 PM)
sh... dont la
else how the companies make $ and pay us dividends leh

each of us have the right to spend on our own priorities ma
smoking, drinking, women, big cars, big homes, yachts, equities, real assets, etc.
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I see rich people here.... hahaha biggrin.gif
Bjorn1688
post Jun 14 2019, 01:25 PM

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QUOTE(GodTier @ Jun 10 2019, 11:33 PM)
I started saved majority of my salary last year after payscale increased, deduct the 'must spend' usage like cheap food, phone/electric bill
Just used my bonus to buy new phone gadgets, renew roadtax tire maintenance etc.

No spending on shopping, leisure travel, night minum, big makan, belanja gf or socializing or anything. Not even cinema. I use seed box torrent je.

So what now?  Through blood and sweat, I got  ringgit 300k ish saved up now, should I continue frugal to save more?
Any advice?
Because I hate the feeling of ' I can have burger, why am I eating plain nasi lemak ikan bilis to save money', give me some inspiration please.
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From the day I started earning money on my own I've always saved 30% of my income. Allowances and bonus? I always view that as extra to save.

I try to limit my expenses to 60% of gross income and any extra I try to save it up too.

How I keep savings :-

3 months salary in current bank account, consider it as "emergency money"

6 months expenses in FD.

Balance : 30% save towards a short term goal, 70% towards a long term goal.

Yes it does mean making choices in life, it means I lived with parents or in a rented room in a PPR on the cheap rather than a fancy studio, it also meant I drove a 20 year old car instead of a Honda City or Toyota Vios when I first started working. It also meant I pack chap-fan, chicken rice or bread for lunch instead of eating at restaurants and cafes and it also meant when out on a date I always "Go Dutch"

 

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