How I Live on a $3200 Monthly Salary in Singapore | Budgeting as a Homeowner and Sole Breadwinner
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- čas přidán 23. 07. 2024
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In this video I'll be talking about how I budget my monthly salary of $3200 as a homeowner and sole income-earner in Singapore.
🕑 TIMESTAMPS:
0:00 Introduction
1:21 Personal & Financial Background
2:02 Cost of Living in Singapore
2:45 Budgeting Framework
4:45 Actual Breakdown of Salary
19:26 Automation (or not)
21:36 Final Thoughts
🧡 FIND ME ON PATREON: / lisa_k
👉 If you're looking for a financial advisor, I would highly recommend the folks at DaretoFinance: forms.gle/UCSudcU21ngzHXCF8
✏️ RESOURCES:
- Budget Template (go to "File → Make a copy" to be able to edit the template) ➡️ docs.google.com/spreadsheets/...
🔗 SERVICES I USE + REFERRAL CODES (only if you wish to support me, no pressure):
- 💰 Money Lover app (expense tracker app) ➡️ apps.apple.com/sg/app/money-l... (iOS) / play.google.com/store/apps/de... (Android)
- 💰 *Stashaway (investment robo-advisor) ➡️ www.stashaway.sg/lisa-k
- 💰 *Syfe (investment robo-advisor) ➡️ syfe.onelink.me/CBOg/LisaK (code: LISAK)
- 💰 *Singlife (cash management account) ➡️ app.singlife.com/y1Iyf0TB
- ☎️ *giga! (my phone plan) ➡️ bit.ly/refergiga (code: rU0Bvk)
🌐 MORE INFORMATION:
- 50-30-20 Rule ➡️ blog.seedly.sg/working-adults... (I modified mine to be 20% wealth instead, to take into account that I’m saving for my mother as well.)
- GST U-Save vouchers ➡️ www.gstvoucher.gov.sg/pages/u...
- Service & Conservancy Charges ➡️ dollarsandsense.sg/much-servi...
📹 MY EQUIPMENT & TOOLS:
- *Logitech Yeti Nano Microphone: shope.ee/4pZfTbrnIP
- iMovie for video editing
- Canva for graphics
*Indicates use of affiliate links which provide a small commission that help to support this channel.
hi everyone, to answer a commonly asked question of "how i spend so little ($250) on food every month", the answer is: i don't just spend $250. the $100 that i contribute to my joint account with my partner is also mostly food expenditure. my mother also buys groceries with her own money, and we have extended family members who buy us food sometimes and so we eat a lot of dabao-ed leftovers. we've been getting food hampers from family service centres, so we occasionally get essentials like rice, noodles, and household toiletries from that. hope that clarifies.
thank you Lisa
Good job Lisa. You clarified my question on how your mum can live on the $100 allowance since she is unemployed.
May I know which credit card you use to pay for your utility bills?I know almost all credit cards dont award points for utilities
Have the grit to master what you love to do, and the rewards will follow. Discover your talent and master it. Your pay reflects the size of commercial problems you are able and willing to solve. Ignore those singaporeans who complain, grumble, bitch and blame the govt day in day out.
@@vetiverose128 Don't play the victim lah. You do get heavily subsidised rent, utilities, free fast internet, cheap/free home appliances and regular free food hampers, public transport vouchers, food vouchers. And your parents pay zero income tax, property tax. Plus excellent health care is available through very low cost medical insurance for singaporeans.
what is most impressive is despite your slow start situation, you did not blame the whole world but instead make a concrete plan like how the older folks that goes through early days of singapore after independence. Huge respect for you. I am confident you will be successful in life with that attitude!
Mad respect for you. You deserve to strive in life with the amount of determination and dedication you have for your mother and your own life. I'm in my early 30s and still trying to figure things out. Your video is of great help, especially to future young Singaporeans.
Thank you for being so transparent with your income and sharing your template. It feels realistic and extremely helpful.
Mad respect for you & how you are able to journey through life while having so many responsibilities on your plate. Hope you strive in your career, ultimately increasing your monthly salary in the future.
That's amazing to see how prudent you are with your money without sacrificing your own needs (e.g. therapy and the little budget for shopping). Thanks for showing us how we can all manage our money better. I've got lots to learn even though I am a finance major!
When I started my job 15 years back, I used to track my expenses so detail like this. I would put graphs to track category of expenses month to month. However, I realized aiming so much for saving while good for discipline, it made me stressed out when I was not able to hit my goal due to uncontrolled factor. As life took me to earn more, I realized it became easier to save naturally but I have cultivated such a habit to be in control for years that it made it so hard for me to live with my partner and others when more spending is needed.
Your mom is really lucky to have you plan all the finances in detail 🥺 thanks for sharing!!
I want to thank you for being so open about your finances and sharing how you manage it. I’m quite inspired by you and I hope your wealth will accumulate quickly in the future! ❤️
What a fantastic video. The level of dedication, discipline and transparency is something commendable. I'm sure that as time goes by, your pay would definitely increase and this will give you an even greater level of comfort and security. Wishing all the best for your financial journey.
Way to go! Huge respect and I did the similar template when I start my career previously as well. Keep it going, don’t left the 50-30-20 allocation behind even though your career growth and you getting better pay in the future. It is important to growth but always keep yourself grounded.
Great work and kudos to your level of financial literacy and planning at this age. I really like the part where you mentioned striking a balance between living a life today vs saving for tomorrow. I hope more young people get pushed your video and realise it's not rocket science the importance of starting young. Also being appreciative of what you have vs sulking over what you don't have. Best wishes in your career as you continue on this journey and hope you achieve your goals in life!
Hi Lisa, I found your video (and subsequently your channel) through YT's algorithm - and I just want to say that you've done really good work on this video. It was concise, informative, and straight to the point (I did watch it at 1.5x speed, a la uni lecture style). As a fellow Singaporean around your age, this really helped me plan in a local context. You've earned a sub! Looking to learn more from you!
Respect to you, Lisa. I am amazed at how details you are with your finances. Although I am not a homeowner and sole breadwinner, I have struggled with finances since I stopped taking allowances and having to balance work and school, and also with school loan. I can't imagine how is it for you.. You are really an inspiration! I hope you will be able to achieve your goals! You go girl!! Please take care of yourself too!
Lots of respect for you!! It’s not easy being this disciplined :) Currently 19 and this helped me a lot in the process of learning how to ‘adult’ in sg. Thank you for posting this
Kudos to you Lisa. Very much appreciate your sharing. This is definitely something every responsible adult should do. I earn many times what you do but yet my budget details pales far in comparison. It is truly how you manage your $$ rather than how much you earn that matters.
Thank you for the simple but much needed lesson and wake up call.
Great video Lisa! Very happy to have the algorithm recommending this video and channel. All the best and supporting you from a fellow Singaporean!
I’m super impressed with your financial literacy at such a young age. Keep it up and I wish the best for you!
I started work during the lehmen brother era. My first paycheck was $2250/mth and I didn't get any pay raise for the 2 years I was with the company. If I had learned from you at that age, I would have been at a better financial situation. Thanks for sharing and it's such a great topic to share on
Absolute admiration for how you have approached this constraint optimization problem we call life! Wishing you all the best and success!
Excellent financial planning template. Kudos to creativity, thoughtfulness and working around the financial climate of self & country. What I am more amazing is have understood the past tense, accepted the present tense and build a future tense. Keep it up. I am cheering for you from Canada
Lisa, I am a retiree over the age of 70, I would like to salute you for your wisdom at such a young age, you are a great model for all young persons in Singapore. All the very best to you for your future endeavour.
The details and transparency of your content really 👍🏼 respect on the time taken out to share all these!
As a young adult trying to achieve financial freedom, I really thank you for the detailed run through of your financial statement. All the best to you in the future!!
Alot to learn from you, I'm turning 28 soon. Although I'm having slightly higher take home pay, but we all have our own situations. You have to pay for morgage..I don't but I worry about getting a home next time and family/kids. I also have repayment of 550 per month back for my uni fees to my mum. Gotta learn how to budget better like you so that I can keep track better.
But what I admire is the last statement, don't compare with others. Yes everyone is different, as long as we are happy we don't always yearn for more then I think we are okay. Thanks!
I'm so proud of you, at your age many still partying yet you're doing budgeting. Fortunate to your mum and husband to be in the near future. Wish many are like you.
Love your budget template! It’s so neat and concise 👍🏻
This is very interesting, It's very cool you can be a breadwinner and own a house at your age right now!
I hope I can plan my financial life like you as well in the future! Thank you for the video :)
Hey Lisa, great job on the Google spreadsheet! It is really detailed and well organised, keep up the good work :)
Stumbled upon your video randomly. Thank you for this insight. I am planning to find a job in Singapore and it's been on my mind lately on how to budget things and such as a foreigner. This is a good starter. I hope you have a good year ahead of you and your family!
Thank you so much for sharing! I'm also supporting my parents who are both retired, and I'm 28yo. This breakdown in budgeting and finances was really helpful and useful! All the best to you :)
I'm a foreigner working in Singapore and I'm glad I came across your video. I love how you explained it, clear and concise. 👏🏻
This is so well made! Although I am responsible with my money, I think that there's still lots to learn and improve on, especially after watching this.
this was such a wholesome budget. I love how everything was well thought out.
Greetings from Malaysia! Came across your video and I was attracted by the title. Love this kind of real life sharing videos. Will continue to watch your videos as they are very insightful yet inspiring.
Mad respect for you sis. I'm in the same positon (minus the house) and ard the same monthly salary range. Good to see someone similar online sharing their nitty gritty details! Thank you
For me, I have a similar budgeting in Excel form and a bit more:
- a sheet on CPF yearly contribution and calculate my projected savings at 55 and thus estimated withdrawable amount after taking away Minimum Sum.
- a sheet called "Yearly Stats" detailing the yearly savings and expenditures to see how I progressed.
- a sheet called "WhatIF" to list out scenarios like what is the absolute minimum spending per month, how many months I can survive if in case of retrenchment based on current savings and projected savings at 55 that includes CPF withdrawal (may not be accurate but should be somewhat a good indication).
As what I experienced, some variations in the expenses could be those small cash purchases, like snacks or drinks but also could be regular things like a visit to the hair salon. Also not forgetting, there could be bonuses at the end of financial year to add to the savings.
I was on an autoplay and not really watching what CZcams plays in the background.. But when it brought me here, it attracts my attention! Such a great video and I can see this being very very helpful!
Thank you for sharing Lisa!! I'm the same age as you and have always been finding the right tool to track my expenses and your template seems perfect! Have subbed to watch your 'adulting' journey as I am still figuring out how to do it too, all the best on your journey 😊
Thank you for sharing your spreadsheet! I use google sheets too for monthly budget breakdown. Yours look much MUCH cleaner! Definitely gonna use some aspects of your layout!
Awesome work on your financial journey and budgeting. Keep it up! Impressed!
I love this video!!! Its so honest and insightful and i love the ending - thanks for the video I learnt a lot
Thank you for your detailed and generous sharing! I am a Singaporean who is about to start my first ever full-time job after university and this is very helpful for my financial planning! :D
Your calming voice helps me to follow your content in video. Good job!
so thorough and well documentated. Bravo 🎉
You did such an amazing job of explaining everything in detail... Now I need to get my things work out! So informative! :)
I relate to your video. I am a sole breadwinner staying with his mum. It can be tough but you just need to have a great overview of budgeting and spend within your means. My recommendation is for you to start doing sideline gig and business to provide additional income for yourself.
Am graduating soon and your video gives me an insight of how life will be for me soon. I'm planning to move to Singapore to work when I graduate and this video really helps
Good on you, Lisa! Keep that attitude going. I am sure you will achieve everything you aspire to.
You're an inspiration to watch. I do my budgeting and day to day expenses on Google sheets as well. Keep it up! 💪
Managing a household and being the sole earner is no small feat, and your insights are valuable. Budgeting is a skill we all need, regardless of our age or circumstances. It's commendable that you're open about your experiences. This kind of practical advice resonates with young adults like me and a wider audience.
This is great work, I really like how detailed your budgeting sheet is and I think this is very useful for someone starting out in their personal finance journey.
I'm a little concerned about your food budget and hope you're getting enough healthy food/calories. I hope $250 is just your own food budget and not total budget for your mom and yourself, because that would translate to $4 per person per day. Take care and I'm sure you will see your income grow and these habits will stand you in good stead!
Vegetable from supermarket is like $1 plus per pack and can feed 2 person for 2 meals. Meat wise frozen meat and seafood is quite cheap also. Don't fall it's cheaper therefore it's not as healthy or good nonsense because the key difference in price is transportation. Chill meat needs to be air flown while frozen meat can be ship via sea freight which is a fraction of the price. Carbohydrates like rice should be below $1 range per day. She can easily hit the budget and have a healthy meal for 2 if she cook at home. I believe she is doing so because the gas and water bill suggest she is doing some form of cooking at home.
Thank you for sharing in such great detail! For your mum’s retirement fund, I would like to suggest that you consider topping up your mum’s Special Account instead of DBS Invest-Saver for its really good interest rates (4-5% compounding) risk-free and no “expense fee” deductions (I believe Invest Saver’s is around 0.5-0.82% per transaction). The only downside to this is that it will definitely be less liquid to access before age 65.
Thank you for being so kind to show the way. This has really helped me
Keep up the positivity! You will enjoy life later in your years having made the right decision at early stage!
I am so impressed with you and fully inspired by this video to start my own detailed budgeting. I wish you all the best life has to offer, you deserve it.
Thanks alot for making this video,it helps to give us a understandable guideline for us to keep track of own expenses and stuffs. 😁👍
Well narrated and well put together. Coupled with your optimism I think you’ll go far. Jiayou!
I'm 23 going 24. Just got my first job and I came across your video. Thank you for this!
This might honestly be the most truthful and honest breakdown of life for most normal Singaporeans. I don't think a lot of young Singaporeans have even half the planning and budgeting you're doing. I know I personally did not and I'm 39 now. If I earned $3200 at 25. Trust me most of that cash will be spent on partying hahaha
Hi Lisa, thanks for sharing all those information. Those are really useful for me and you are such an inspiring person in that young age. I'm happy that I found your channel.
as a freshie this video actually inspired me to start working on my financial plannings. really awesome info 👍👍
You are candid, sincere and prudent. Your voice is sweet too. Hard not to like your video. I have subscribed and I look forward to see you get better in wealth accumulation and life!
I am truly inspired by your discipline of keeping track of your expenses diligently. I wish you success in everything that you are doing and my guess is that with your correct attitude, you will definitely find your own direction. #welldone #respect
Thank you so much for being so transparent and sharing how you plan!
WOW! You have my utmost respect for being so disciplined and having a growth mindset in life. Keep it up. The video is excellently done.
I absolutely love this video. great job lisa
you deserve a higher salary for your level of communication clarity, well-structured logic and most important of all, willing to share!
hey, I chanced onto this channel and really love how you do things. All the best in your future ( and present ) :)
This is so useful, I’m starting my first job this year, thank you for making this video 😊
Respect that *Budgeting as a Homeowner and Sole Breadwinner*
😌
Really shows a lot of passion & determination that you have!!!
In addition... ...
Moreover, I understand how you recognise the need for self-care (e.g. therapy) Showing the importance of it sometimes
😸
It was a Special & Interesting Video to watch
😅
For it was really informative and educational too
😁
wah thanks alot for sharing the template. Earned a sub. lets gooooo
Wow, big respect to you! really like how neat you put things in the excel and plan everything out ❤ i have learn a lot from you in this video as well 😊
I am also 25 this year, still struggling with my life. Currently, I am still at a confused stage in life where i don't have plans for the future. ( I mean everyone has different starting point where their thinking matures so no point comparing myself with others) My current salary isn't particularly high, i am not really talented in anything that can give me higher income so i am just going with the flow at the moment. Looking at your video, i think i should start allocating my expenses which i didn't think of in the past. Thanks for sharing :)
You are a responsible and sensible person; you will go very far. My very best wishes to you, your partner and your mother.
You are a gem. Amazing and hopefully this will provide insights and benefits many people here.
Meticulous, focused and well-spoken. You will go far.
You are an inspiration to many. Please keep up your good work. You are already successful in your own ways & all the best to you.
Really glad you're spending on therapy!! Although it may be expensive but it is good for our well-being. Thanks for being transparent and I'm inspired to take more charge in my personal finance!
Kudos for reaching 6 month emergency savings! Thanks for sharing the table, I could use this for my planning.
Welldone lisa!! Such a good financial planning 👍🏻👍🏻
Thanks for this video. I really appreciate what you’ve shared and I’m learning so much from it. Thank you thank you thank you! ❤️😊
I respect you. Thank you so much for this video. It helps people like me. Great job and thanks again
Amazing work, very well planned for a girl your age. I'll be sending this to my kids for them to look at as well, hope that they can take lesson from this. Thank you.
This was very informative and insightful for a newbie like myself. Thanks! :)
thankyou for this video, i feel rlly motivated to start planning and saving up!!
Wanted to show some support and appreciation for sharing; valuable and thoughtful considerations!
thank you! ☺️
Respect! Wish you all the very best for your future endeavors. 🧡
Thank you so much for showing this! It's a great chance to know how people live in a different country. Though income and living expenses vary from country to country. But I have to say that you are in a really good position given your age! You've already got your own house which could mean a 10-year financial goal for people in California even with a decent income!
Thanks for sharing. This is true inspiring for me. You’re such a good daughter. Wishing all your wishes come true!🙌
Thank you so much for this! I’ve been making a lot of bad financial decisions recently. I’ve also been doing the wrong 50-30-20 rule by not investing in my retirement and using that 20% for “wants”.
thank you lisa foe sharing this. ive got a valuable lesson 👍 goodluck for your goals
Respect what u r doing. Having a plan and building good habits are way more than important than how much u earn. As u r progressing, such foundation will reward u massively.
very well done. you presented and communicated clearly, planning your content logically. your pronunciation is good without being pretentious: no fake American or Aussie accent. Young lady, stay focus and you will do well in life.
thank you so much for this, you’re a lifesaver !!
Thanks for sharing the google sheet! Love the breakdown
I am in my 30s and even till now my budgeting is not as detailed and organised as yours. Great job! This sharing will definitely help a lot of people who are starting out to manage their finances. I wished there were such videos to watch 10 years ago, it would have aided me a lot in my financial literacy journey. Kudos for your effort to share!
Impressive! Keep it up and all the best!
Thank you for sharing, it is very inspiring .Your mom is really lucky to have a daughter like you 💕
You're doing an awesome job. Keep going 💪