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 decent household income in Klang Valley?

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blanket84
post Aug 14 2022, 08:39 PM

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QUOTE(ceo684 @ Aug 14 2022, 08:29 PM)
I start with gross 10k on household level, it doesnt't seem to go far  laugh.gif
start nett after EPF 8500
hseloan for 200K @ 5.15% -1500
hseloan for 270K @ 3.5% -1200
internets (2x RM99) -200
TNBs -130
waters, indah and clean -30
maintenance carpark -480
maintenance -230
netflix -60

groceries and food 3pax -2000
recurring stuff like car insurance roadtax repairs and ikea installment -1000
diesel -120
petrol -200
toll -50
CBD parking WFO -100
clothes -150
misc stuffs -100
insurance -380
Classpass (yoga classes) -150
cukai pintu cukai petak amortised -65
cukai kepala (income tax) -891
TOTAL -536
*
There you go. Even with no car installment it’s already red. And also no kids. People would say you can cut here and there. But that’s considered frugal already and not really “comfortable”.
contestchris
post Aug 14 2022, 09:26 PM

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QUOTE(ceo684 @ Aug 14 2022, 08:29 PM)
I start with gross 10k on household level, it doesnt't seem to go far  laugh.gif
start nett after EPF 8500
hseloan for 200K @ 5.15% -1500
hseloan for 270K @ 3.5% -1200
internets (2x RM99) -200
TNBs -130
waters, indah and clean -30
maintenance carpark -480
maintenance -230
netflix -60

groceries and food 3pax -2000
recurring stuff like car insurance roadtax repairs and ikea installment -1000
diesel -120
petrol -200
toll -50
CBD parking WFO -100
clothes -150
misc stuffs -100
insurance -380
Classpass (yoga classes) -150
cukai pintu cukai petak amortised -65
cukai kepala (income tax) -891
TOTAL -536
*
Some issues

1) Why EPF 15% instead of 11%?
2) Maintenence carpark RM480???
3) 200k HL for what?
ceo684
post Aug 14 2022, 10:58 PM

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QUOTE(contestchris @ Aug 14 2022, 09:26 PM)
Some issues

1) Why EPF 15% instead of 11%?
2) Maintenence carpark RM480???
3) 200k HL for what?
*
1. its combined income (household defined as me and my parents as gross 10k) so technically leaning more on the 12% side. includes a little bit of self contribution
2. Yes maintenance and carpark rental and sinking fund. High rise problems coz charge psf and that happens to be pretty large.
3. Parents' place. Joint loan (me for tenure then as i was young, dad then for qualifying income) for multigenerational stretch loan for full tenure. Otherwise cannot qual.

This post has been edited by ceo684: Aug 14 2022, 11:01 PM
gundamsp01
post Aug 15 2022, 08:59 AM

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QUOTE(blanket84 @ Aug 14 2022, 08:39 PM)
There you go. Even with no car installment it’s already red. And also no kids. People would say you can cut here and there. But that’s considered frugal already and not really “comfortable”.
*
That spending level is already premium level, not really my type of "comfortable", food, yoga class, clothes, all these can be reduced. But then, that's my definition for "comfortable". *Note: I am not even frugal, i just buy things i want/need.
kellyisevil
post Aug 15 2022, 04:11 PM

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QUOTE(gundamsp01 @ Aug 15 2022, 08:59 AM)
That spending level is already premium level, not really my type of "comfortable", food, yoga class, clothes, all these can be reduced. But then, that's my definition for "comfortable". *Note: I am not even frugal, i just buy things i want/need.
*
Hmm then everyone’s understanding of comfortable is really different. Yoga/class pass is for basic fitness essentials and Rm150 per month is already affordable category. Gym per entry are rm8-15. If you workout in gym 3 times a week that is about rm100++ already.

Would you mind breaking down your expense or what is comfortable for you/your family?
gundamsp01
post Aug 15 2022, 05:16 PM

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QUOTE(kellyisevil @ Aug 15 2022, 04:11 PM)
Hmm then everyone’s understanding of comfortable is really different. Yoga/class pass is for basic fitness essentials and Rm150 per month is already affordable category. Gym per entry are rm8-15. If you workout in gym 3 times a week that is about rm100++ already.

Would you mind breaking down your expense or what is comfortable for you/your family?
*
my current budget every month now (i would considered myself as spend lavishly on food and my hobby without considering the price too much).
But i am not spending this much every month, it is just my limit, typically, my total spending is average around 6k++ to 8k, depending if there is any special occassion like parents' bday, festive season.
There are many things that i can cut from this list, not things i want, but then due to various reasons and dependency, it has to be there.

House loan:1100
House maintenance & clubhouse: 300
Car Installment: 1200
Car maintenance: 250
Parents: 1100
Electricity bill: 300
Fuel: 250
Touch and go: 150
Unifi: 136.75
Phone bill: 237.5
Meal: 1200
Insurance: 530
Miscellaneous items: 500
hobby: 200

Total: 7454.25

This post has been edited by gundamsp01: Aug 15 2022, 05:28 PM
blanket84
post Aug 15 2022, 05:47 PM

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QUOTE(gundamsp01 @ Aug 15 2022, 05:16 PM)
my current budget every month now (i would considered myself as spend lavishly on food and my hobby without considering the price too much).
But i am not spending this much every month, it is just my limit, typically, my total spending is average around 6k++ to 8k, depending if there is any special occassion like parents' bday, festive season.
There are many things that i can cut from this list, not things i want, but then due to various reasons and dependency, it has to be there.

House loan:1100
House maintenance & clubhouse: 300
Car Installment: 1200
Car maintenance: 250
Parents: 1100
Electricity bill: 300
Fuel: 250
Touch and go: 150
Unifi: 136.75
Phone bill: 237.5
Meal: 1200
Insurance: 530
Miscellaneous items: 500
hobby: 200

Total: 7454.25
*
I’m guessing you’re single?

If yes, then makes sense that a family with 1-2 kids requires around 12-15k per month to live comfortably if we extrapolate from your calculation.
gundamsp01
post Aug 15 2022, 06:01 PM

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QUOTE(blanket84 @ Aug 15 2022, 05:47 PM)
I’m guessing you’re single?

If yes, then makes sense that a family with 1-2 kids requires around 12-15k per month to live comfortably if we extrapolate from your calculation.
*
for my case, this is spending lavishly as single (which i rarely do so), if i am to have a family of my own, there will be things to cut, which i presume 10k is sufficient for a family of 3.
but does not that mean i am going live miserably.

Anyway, you are right, for a family of 3 + my own parents (2), most likely will hit 12-15k nett.

And also, that easy to get 12 - 15k nett per month for majority of people?

This post has been edited by gundamsp01: Aug 15 2022, 06:04 PM
blanket84
post Aug 15 2022, 06:19 PM

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QUOTE(gundamsp01 @ Aug 15 2022, 06:01 PM)
for my case, this is spending lavishly as single (which i rarely do so), if i am to have a family of my own, there will be things to cut, which i presume 10k is sufficient for a family of 3.
but does not that mean i am going live miserably.

Anyway, you are right, for a family of 3 + my own parents (2), most likely will hit 12-15k nett.

And also, that easy to get 12 - 15k nett per month for majority of people?
*
For household both husband & wife working, it is normal to have household income of 12k (6k x 2) in the mid 30s. If /ktards mostly 40k achievable by 30s laugh.gif

Yes. You won’t have miserable live for family of 3 with income of less than 10k. But from my experience having my first son with my household income of 8.5k, I have to be very calculative to make sure that my account in the end of the month isn’t red. Normal monthly expenditure like house, car & utility bills should be fine, but then, for occasional eating out for slightly “expensive” food like Nandos & Carl’s or spending on hobbies, we have to be calculative to not spending the money that we probably don’t have.
brkli
post Aug 15 2022, 06:27 PM

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good enough if u do not need to support your parents, and your wife support hers..

This post has been edited by brkli: Aug 15 2022, 06:27 PM
JasonW13
post Aug 15 2022, 09:14 PM

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QUOTE(CoolStoryWriter @ Aug 11 2022, 09:31 PM)
Is RM10k net household income okay in klang valley? With 1 kid.

House 2k
Car 2k
Mandatory savings 2k

I dont know what kind of lifestyle left with 4k disposable income. Can we live comfortably with 1 kid in klang valley? Wife not working to take care of kid full time.

Child just send to chinese sjkc in primary

Thanks in advance.
*
can. RM 4k disposable income presumably is nett of the cost of your travel transportation, food and beverage, insurance yada yada. It is actually kinda impressive with the RM 4K savings if living in Klang Valley

This post has been edited by JasonW13: Aug 15 2022, 09:14 PM
kellyisevil
post Aug 15 2022, 10:08 PM

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QUOTE(blanket84 @ Aug 15 2022, 06:19 PM)
For household both husband & wife working, it is normal to have household income of 12k (6k x 2) in the mid 30s. If /ktards mostly 40k achievable by 30s laugh.gif

Yes. You won’t have miserable live for family of 3 with income of less than 10k. But from my experience having my first son with my household income of 8.5k, I have to be very calculative to make sure that my account in the end of the month isn’t red. Normal monthly expenditure like house, car & utility bills should be fine, but then, for occasional eating out for slightly “expensive” food like Nandos & Carl’s or spending on hobbies, we have to be calculative to not spending the money that we probably don’t have.
*
My parents were struggling when we were younger.
RM3500 salary in late 2000s
It was doable, we were ok and happy as a family but my parents were stress a lot because we had no extra money for any hiccups.
We would order 3 bowl of noodle (Rm3.50 per bowl era in Penang) for 4 to share and could only order ice water .

My dad had to use credit card to float our expense and balance transfer whenever we have any house emergency like car breakdown.

I would assume anything less than Rm6k in KV is that feeling for a family of 3?

This post has been edited by kellyisevil: Aug 15 2022, 10:09 PM
blanket84
post Aug 15 2022, 10:44 PM

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QUOTE(kellyisevil @ Aug 15 2022, 10:08 PM)
My parents were struggling when we were younger.
RM3500 salary in late 2000s
It was doable, we were ok and happy as a family but my parents were stress a lot because we had no extra money for any hiccups.
We would order 3 bowl of noodle (Rm3.50 per bowl era in Penang) for 4 to share and could only order ice water .

My dad had to use credit card to float our expense and balance transfer whenever we have any house emergency like car breakdown.

I would assume anything less than Rm6k in KV is that feeling for a family of 3?
*
6k in KV is B40. You’d be struggling like you described if one is trying to keep up with people in social media (i.e: driving myvi instead of axia, using ipong instead entry level samseng & etc2.).
sweet_pez
post Aug 15 2022, 11:51 PM

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QUOTE(gundamsp01 @ Aug 15 2022, 05:16 PM)
my current budget every month now (i would considered myself as spend lavishly on food and my hobby without considering the price too much).
But i am not spending this much every month, it is just my limit, typically, my total spending is average around 6k++ to 8k, depending if there is any special occassion like parents' bday, festive season.
There are many things that i can cut from this list, not things i want, but then due to various reasons and dependency, it has to be there.

House loan:1100
House maintenance & clubhouse: 300
Car Installment: 1200
Car maintenance: 250
Parents: 1100
Electricity bill: 300
Fuel: 250
Touch and go: 150
Unifi: 136.75
Phone bill: 237.5
Meal: 1200
Insurance: 530
Miscellaneous items: 500
hobby: 200

Total: 7454.25
*
RM1.2k per month for food as you said isnt exactly to say too lavish. Generally assuming you're based in KV, unless its hawker food (sigh full of carbs, fats) its hard to find anything cheap and decent. IMO when one can afford, just be good to yourself/your body and eat better stuffs.

But your phone bill and electricity is a bit on the high side. RM100 saved from each of those will goes nicely to savings ie. Travel fund or savings. Speaking of which, no savings?

QUOTE(kellyisevil @ Aug 15 2022, 10:08 PM)
My parents were struggling when we were younger.
RM3500 salary in late 2000s
It was doable, we were ok and happy as a family but my parents were stress a lot because we had no extra money for any hiccups.
We would order 3 bowl of noodle (Rm3.50 per bowl era in Penang) for 4 to share and could only order ice water .

My dad had to use credit card to float our expense and balance transfer whenever we have any house emergency like car breakdown.

I would assume anything less than Rm6k in KV is that feeling for a family of 3?
*
Difficult days in the past. I think a lot of people went through, and some probably still going through them.

I would think it isnt too far from the rm3.5k you mentioned if one were to live in a struggling manner for a family of 3. If theres RM 6k its considered "ok" to be able to pull through basic needs with little opportunities to dine out.
gundamsp01
post Aug 16 2022, 12:13 AM

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QUOTE(sweet_pez @ Aug 15 2022, 11:51 PM)
RM1.2k per month for food as you said isnt exactly to say too lavish. Generally assuming you're based in KV, unless its hawker food (sigh full of carbs, fats) its hard to find anything cheap and decent. IMO when one can afford, just be good to yourself/your body and eat better stuffs.

But your phone bill and electricity is a bit on the high side. RM100 saved from each of those will goes nicely to savings ie. Travel fund or savings. Speaking of which, no savings?
*
normally my food for myself just around 500 (still eat nice food whenever i want, but i love cooking, so maybe save a bit there), well, but then i am not living alone (sometimes), when my parents and 2 bro comes over, it will goes up to 800 - 1000, 1.2k is during festive season.

on my phone bill and electricity, that's the thing i said can't reduce, phone bill is a family package with my parents, while elec bill is due to when they stay at my house, if i stay alone for whole month it is around 80.

well mainly talk about expenses, so skip my saving which is around few k on average laugh.gif

sweet_pez
post Aug 16 2022, 12:44 AM

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QUOTE(gundamsp01 @ Aug 16 2022, 12:13 AM)
normally my food for myself just around 500 (still eat nice food whenever i want, but i love cooking, so maybe save a bit there), well, but then i am not living alone (sometimes), when my parents and 2 bro comes over, it will goes up to 800 - 1000, 1.2k is during festive season.

on my phone bill and electricity, that's the thing i said can't reduce, phone bill is a family package with my parents, while elec bill is due to when they stay at my house, if i stay alone for whole month it is around 80.

well mainly talk about expenses, so skip my saving which is around few k on average laugh.gif
*
Ohyes if you enjoy cooking then thats all the better. For someone who cant cook to save my life, i rely 50% to 70% on eating out/ delivery etc. It doesnt come cheap to eat out.

Since its family package thats all good. Was just wondering how come phone bill so high even with wifi at home haha

Very well covered with good amount of savings!

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