Hi,
I have been searching for ways to achieve financial success since I graduated from university 7 years ago but so far I am still working to feed myself and my parent without seeing the light in the end of the tunnel. I have been recording my expense for the past 5 years because of the inspiration from the book " Your Money or Your Life".
I came across this idea of ERE from another blogger by the name of Patrick Meninga and it immediately captured my attention. I have read several posting in this blog and stories posted by similar mindset people in the forum so I think I will share some of my situation here and hope to get some idea and discussion going here.
As of August 2012(figure below are in Singapore Dollar):
Study loan: $23,000
Monthly income $2,819
Saving account balance: $6,000
Expense(monthly):
Study loan - $200
Rental - $240
Parent - $300
Health product installment (11 months more)- $174
Food - $300 to $400 (Depends of dinner appointment of that month)
Transportation - $100
Badminton - $20
Book - $0 to $50 (Depends on whether is there any good book)
Entertainment - $0 to $100 (Mostly spent on movie/short trip to nearby country)
Cell Phone - $60
iPad broadband plan - $40
Total:$1,684
Saving rate: 40% (My estimated saving rate from now onward)
I also spent quite a lot of money on Gadget like MacBook Air, iPad, Cell Phone. Travelling trip over the years also costs me about $10-20K.
Any advice or opinion is appreciated here.
/Direction Seeker
ERE journey for single man in Singapore
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George the original one
- Posts: 5406
- Joined: Wed Jul 28, 2010 3:28 am
- Location: Wettest corner of Orygun
I think you're the first person to list badminton as an expense!
Looking over your expenses, your parent and food are the largest, but they're still a small part of your overall budget.
To get your saving rate boosted to 50%, there isn't any one category that you can cut except by quickly paying back the student loan. Otherwise, the saving rate will go up only by trimming little bits here and there. Now that you have 3.5 months of savings, you should probably concentrate on paying back the student loan unless it has an extremely low interest rate. Continue putting $50-100/mo into your savings so that it's growing at 10-20% per year and use the rest to pay off the loan... at that rate, in about 2 years, you won't have a student loan and your savings rate would be free to zoom above 50%.
Looking over your expenses, your parent and food are the largest, but they're still a small part of your overall budget.
To get your saving rate boosted to 50%, there isn't any one category that you can cut except by quickly paying back the student loan. Otherwise, the saving rate will go up only by trimming little bits here and there. Now that you have 3.5 months of savings, you should probably concentrate on paying back the student loan unless it has an extremely low interest rate. Continue putting $50-100/mo into your savings so that it's growing at 10-20% per year and use the rest to pay off the loan... at that rate, in about 2 years, you won't have a student loan and your savings rate would be free to zoom above 50%.
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aussierogue
- Posts: 379
- Joined: Thu Nov 10, 2011 1:02 pm
Having lived in singapore i reckon ere there would be very difficult for a number of reasons
1. patriachial society. If you are a man - not working is just not the done thing.
2. Very consumer driven. Singapore is wealthy and people live well, dress well and drive nice cars. There is also a distinct lake of 'bohemia' and wierdness which makes being different frowned apon. This is a country that has laws for everything. You cannto chew gum and if you do not flush the toilet in a public place and caught you are fined.
I do think though that things are changing in Singers (my bro still lives there). After being criticised for being too sanitory the government has made a major push for the arts opening new arts precincts in recent years and pushing the idea in schools. Singapore also started a speakers corner in one of the parks to show the world they are an open country - unfortunately they werent happy with what people were saying at speakers corner and have limited the topics that are allowed to be spruked.
3. the other issue is this idea / cultural thing that one must look after the sons parents in old age. Lots of pressure on the sons to keep working and prosper.
Hey direction seeker - do you always think you will be single because maybe you also need to factor a family into this ere mix eventually. If you are a confirmed bachelor on the other hand then ere will be easier.
would be interested to hear your thoughts on the above chalklenges. I wish you luck and hope you succeed.
aussie
1. patriachial society. If you are a man - not working is just not the done thing.
2. Very consumer driven. Singapore is wealthy and people live well, dress well and drive nice cars. There is also a distinct lake of 'bohemia' and wierdness which makes being different frowned apon. This is a country that has laws for everything. You cannto chew gum and if you do not flush the toilet in a public place and caught you are fined.
I do think though that things are changing in Singers (my bro still lives there). After being criticised for being too sanitory the government has made a major push for the arts opening new arts precincts in recent years and pushing the idea in schools. Singapore also started a speakers corner in one of the parks to show the world they are an open country - unfortunately they werent happy with what people were saying at speakers corner and have limited the topics that are allowed to be spruked.
3. the other issue is this idea / cultural thing that one must look after the sons parents in old age. Lots of pressure on the sons to keep working and prosper.
Hey direction seeker - do you always think you will be single because maybe you also need to factor a family into this ere mix eventually. If you are a confirmed bachelor on the other hand then ere will be easier.
would be interested to hear your thoughts on the above chalklenges. I wish you luck and hope you succeed.
aussie
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
George the original one: That's an excellent advice! I have been hearing advice like invest in certain fund from friend but personally I am more lean toward paying off my loan first.
Chenda: Yes, Malaysia sounds like a cheaper place to retire in but the safety issue in Malaysia has been influencing my decision here.
Aussierogue:
1. Ya, culture sometimes is harder to tackle than financial issue. If you are not working here, there are certain social stress on you when you are socializing.
2. I will agree that it is very consumer driven here in Singapore. Things like growing your own food is unheard of here. And it is not common when you are telling your colleague you are cycling to office which is 8 miles away from your home. Food choice are abundant here in Singapore, just that you have to spend money to get them, not growing them at the backyard of your house. Road here are flat, but it is for car, car and car. Everything else on the road is not preferred.
3. You are right, look after the parent is the responsibility of son here, so my ERE journey might be longer in consideration for this part. I will need to consider the medical cost too as the time go.
I am single now, and I cannot say I will stay single forever. I am still looking and it seems the ladies are out of luck for not found me.
/Direction Seeker
Chenda: Yes, Malaysia sounds like a cheaper place to retire in but the safety issue in Malaysia has been influencing my decision here.
Aussierogue:
1. Ya, culture sometimes is harder to tackle than financial issue. If you are not working here, there are certain social stress on you when you are socializing.
2. I will agree that it is very consumer driven here in Singapore. Things like growing your own food is unheard of here. And it is not common when you are telling your colleague you are cycling to office which is 8 miles away from your home. Food choice are abundant here in Singapore, just that you have to spend money to get them, not growing them at the backyard of your house. Road here are flat, but it is for car, car and car. Everything else on the road is not preferred.
3. You are right, look after the parent is the responsibility of son here, so my ERE journey might be longer in consideration for this part. I will need to consider the medical cost too as the time go.
I am single now, and I cannot say I will stay single forever. I am still looking and it seems the ladies are out of luck for not found me.
/Direction Seeker
Oooh, Singapore. One of my favorite countries in SE Asia.
While, I largely agree with what other posters have said, I do think you have some room for cost-cutting. For example, do you really need an iPad + cellphone + (I assume) a computer? Each of those usually comes with a monthly service expense tied to it.
The ever shortening lifecycles of electronic goods, convergence and the fact that most content is available online these days is something we can take advantage of. If I absolutely have to buy a gadget, I try to buy a year-old/on-sale model that supports as many standards and open platforms as possible. When you consider buying a new toy, it may help to take into account its total lifecycle cost - not just sticker price.
You have a great public transportation system and a government that actively encourages you to NOT buy cars - that should be ERE friendly?
Also, are your food costs as low as they can get? Even if you have to eat out, you have great hawker centres with good hygienic food at (what I thought were) reasonable prices.
Regarding books, would borrowing from the library work instead of buying?
I have an aversion to debt. So yes, I'd pay that off first.
Lastly and perhaps most importantly - I have no idea what you do for a living, but is there any way you can acquire new skills to increase your income?
Welcome on board the ERE boat! You've got a lot of things going for you already - decent savings rate despite the circumstances, living in a country with low income tax, zero capital gains tax, great tropical location, etc.
Good luck!
While, I largely agree with what other posters have said, I do think you have some room for cost-cutting. For example, do you really need an iPad + cellphone + (I assume) a computer? Each of those usually comes with a monthly service expense tied to it.
The ever shortening lifecycles of electronic goods, convergence and the fact that most content is available online these days is something we can take advantage of. If I absolutely have to buy a gadget, I try to buy a year-old/on-sale model that supports as many standards and open platforms as possible. When you consider buying a new toy, it may help to take into account its total lifecycle cost - not just sticker price.
You have a great public transportation system and a government that actively encourages you to NOT buy cars - that should be ERE friendly?
Also, are your food costs as low as they can get? Even if you have to eat out, you have great hawker centres with good hygienic food at (what I thought were) reasonable prices.
Regarding books, would borrowing from the library work instead of buying?
I have an aversion to debt. So yes, I'd pay that off first.
Lastly and perhaps most importantly - I have no idea what you do for a living, but is there any way you can acquire new skills to increase your income?
Welcome on board the ERE boat! You've got a lot of things going for you already - decent savings rate despite the circumstances, living in a country with low income tax, zero capital gains tax, great tropical location, etc.
Good luck!
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Hi ktn,
Thanks for the good advice provided.
1. The cellphone and iPad here come with a 2 years contract and I am waiting for mine to expire before I can cut down on my broadband expense.
2. I do not own a car here, car ownership here in Singapore can easily add $1,000 to your monthly expense. That $100 transportation budget of mine was mostly spent on Mass Rapid Train(MRT) and bus. I am in the transition to change my mode of transportation from MRT and bus to bicycle. I cycle to work 2 days a week now and I hope to replace all my trip to cycling wherever possible.
3. I do agree my food is not the lowest I can get here. I would need extra work here to bring down my food cost further and at the same time enjoy the food. Cooking is not an option for me because I am staying in a rental room and cooking is not allowed.
4. Ya. There is a great network of library here in Singapore. If I can just wait a few more weeks or few more months for popular book, I can always borrow them for free instead of buying them. I have about 100 books in collection now that waiting for my attention, and I guess the best way to cut down my book cost is to finish what I bought in the past.
5. My entertainment cost mostly spent on movie with friends, I guess another activity with friend might just helps me cut down my entertainment cost and at the same time give me more time to catch up with friends.
6. My study loan will be my main focus from now on. I wasn't serious in paying back the loan for the past few years since it was just "$200 per month", what I was not noticing is it tied me down to my job(by the way, I love my job). And funny thing is, my saving was not increased substantially over the year even thought I was not paying back my loan(There are many wastage I did not listed here).
7. I work as technical support supporting some corporate software. I am brainstorming now what new skills I can acquire to increase my income or what kind of business I can start to accelerate my speed on ERE journey.
/Direction Seeker
Thanks for the good advice provided.
1. The cellphone and iPad here come with a 2 years contract and I am waiting for mine to expire before I can cut down on my broadband expense.
2. I do not own a car here, car ownership here in Singapore can easily add $1,000 to your monthly expense. That $100 transportation budget of mine was mostly spent on Mass Rapid Train(MRT) and bus. I am in the transition to change my mode of transportation from MRT and bus to bicycle. I cycle to work 2 days a week now and I hope to replace all my trip to cycling wherever possible.
3. I do agree my food is not the lowest I can get here. I would need extra work here to bring down my food cost further and at the same time enjoy the food. Cooking is not an option for me because I am staying in a rental room and cooking is not allowed.
4. Ya. There is a great network of library here in Singapore. If I can just wait a few more weeks or few more months for popular book, I can always borrow them for free instead of buying them. I have about 100 books in collection now that waiting for my attention, and I guess the best way to cut down my book cost is to finish what I bought in the past.
5. My entertainment cost mostly spent on movie with friends, I guess another activity with friend might just helps me cut down my entertainment cost and at the same time give me more time to catch up with friends.
6. My study loan will be my main focus from now on. I wasn't serious in paying back the loan for the past few years since it was just "$200 per month", what I was not noticing is it tied me down to my job(by the way, I love my job). And funny thing is, my saving was not increased substantially over the year even thought I was not paying back my loan(There are many wastage I did not listed here).
7. I work as technical support supporting some corporate software. I am brainstorming now what new skills I can acquire to increase my income or what kind of business I can start to accelerate my speed on ERE journey.
/Direction Seeker
I hope the expenses you are recording is capturing everything and is also categorized. I do mine on a simple spreadsheet with about 12 categories that fit me (housing, medical/health, parents, toys & hobbies, food, transport, gifts, etc). I found this to be a good way to spot wastage. Many have shared their spreadsheets using google docs here. Just do a search for "spreadsheet" on the right.
If I recall right, the good thing about your public transportation is that you pay only for what you use. Here we have montly passes, the price of which is same as about 12 roundtrips. So bicycling on some days and using public transport on others does not usually help save money. Nevertheless, I try to bicycle as much as I can, as health is more valuable than money anyway.
Bicycling in Singapore isn't going to be the easiest given how humid it is and the regular rain showers you get. If I remember right, you also don't have bicycle lanes. It may not help you save much but it will definitely improve your fitness. Savings-wise, cutting some of those wasteful expenses might be easier than trying to save on public transport.
Since you are supporting parents already, would it be an option to give them more and eat there instead? It could help you retain that bond and keep in touch with your parents' daily needs, while also getting you healthy home-cooked food. Just a thought.
I work in IT too. The good thing is that technical support is often seen as a good place to start, not as a place to remain forever. So keep your eyes out for other opportunities - product management of the software you are supporting, projects to manage, service/SLA delivery roles, etc. If your company supports it, you could get yourself certified in ITIL or any such standard that companies look for while hiring there. Also, don't forget that most pay raises happen when you move jobs AND companies.
If I recall right, the good thing about your public transportation is that you pay only for what you use. Here we have montly passes, the price of which is same as about 12 roundtrips. So bicycling on some days and using public transport on others does not usually help save money. Nevertheless, I try to bicycle as much as I can, as health is more valuable than money anyway.
Bicycling in Singapore isn't going to be the easiest given how humid it is and the regular rain showers you get. If I remember right, you also don't have bicycle lanes. It may not help you save much but it will definitely improve your fitness. Savings-wise, cutting some of those wasteful expenses might be easier than trying to save on public transport.
Since you are supporting parents already, would it be an option to give them more and eat there instead? It could help you retain that bond and keep in touch with your parents' daily needs, while also getting you healthy home-cooked food. Just a thought.
I work in IT too. The good thing is that technical support is often seen as a good place to start, not as a place to remain forever. So keep your eyes out for other opportunities - product management of the software you are supporting, projects to manage, service/SLA delivery roles, etc. If your company supports it, you could get yourself certified in ITIL or any such standard that companies look for while hiring there. Also, don't forget that most pay raises happen when you move jobs AND companies.
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Hi ktn,
Ya, I do use a spreadsheet to capture all my expense. I have been doing that for almost 6 years now after I read the book Your Money or Your Life. This was stated as step 2 in the book, but sadly I did not progress after that, I surrendered to too many temptation and impulse purchase here and there.
Public transportation in Singapore had a good quality but the fare was increasing over the year and the quality is dropping due to the massive increase in population here. In the course of 7 years, my transportation cost has increased from about $50 to around $100 although the distance I travelled on bus and MRT is not increasing.
I do not think the bicycle lane will be build here in the near future. Government is not very keen on putting people onto bicycle and promote it as a mean of transportation. Frequent complain and rash action from drivers and cyclist also does not promote cycling here.
Based on my experience, weather is the least concern when we talk about cycling. Shower facility, road condition, traffic condition will be more challenging to our cyclist. I have more than few "nearly hit by car" stories to share if I need to.
About wasteful expense, I am waiting for my cell phone and iPad plan to expire before I cancel them. I will be cutting down on book(libraries in Singapore is marvelous!!) and entertainment(instead of movie, I guess I just meet my friend for exercise or a simple drink and chat).
Technical support is a good place to start, and I have been in the position for 2 years. I am always on the lookout for opportunity to take up other responsibility but so far I haven't found any yet.
/Direction Seeker
Ya, I do use a spreadsheet to capture all my expense. I have been doing that for almost 6 years now after I read the book Your Money or Your Life. This was stated as step 2 in the book, but sadly I did not progress after that, I surrendered to too many temptation and impulse purchase here and there.
Public transportation in Singapore had a good quality but the fare was increasing over the year and the quality is dropping due to the massive increase in population here. In the course of 7 years, my transportation cost has increased from about $50 to around $100 although the distance I travelled on bus and MRT is not increasing.
I do not think the bicycle lane will be build here in the near future. Government is not very keen on putting people onto bicycle and promote it as a mean of transportation. Frequent complain and rash action from drivers and cyclist also does not promote cycling here.
Based on my experience, weather is the least concern when we talk about cycling. Shower facility, road condition, traffic condition will be more challenging to our cyclist. I have more than few "nearly hit by car" stories to share if I need to.
About wasteful expense, I am waiting for my cell phone and iPad plan to expire before I cancel them. I will be cutting down on book(libraries in Singapore is marvelous!!) and entertainment(instead of movie, I guess I just meet my friend for exercise or a simple drink and chat).
Technical support is a good place to start, and I have been in the position for 2 years. I am always on the lookout for opportunity to take up other responsibility but so far I haven't found any yet.
/Direction Seeker
Hi Direction Seeker!
Yes, I´m very much into the too much spent here & there category, I have the feeling that I can relate.
One vice of mine is books - and I found that it´s no good for met to wait with buying new books until I´ve read my backlog: too much tempting content out there!
What did help me was to note down the book I wanted, wait ca. 30 days and once a month come back to the accumulated papers. Some of the books then weren´t of interest any more and from the books that were, I allowed myself to buy one.
This is also good for an instant birthday-wishlist and this tactic increased expectation-joy (like: yay - I´m soon going to get these books I´d really like to read! bounce-up-and-down
Yes, I´m very much into the too much spent here & there category, I have the feeling that I can relate.
One vice of mine is books - and I found that it´s no good for met to wait with buying new books until I´ve read my backlog: too much tempting content out there!
What did help me was to note down the book I wanted, wait ca. 30 days and once a month come back to the accumulated papers. Some of the books then weren´t of interest any more and from the books that were, I allowed myself to buy one.
This is also good for an instant birthday-wishlist and this tactic increased expectation-joy (like: yay - I´m soon going to get these books I´d really like to read! bounce-up-and-down
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Update after 8 months:
Study loan: $0
Personal Loan $6,000 ( I received a 0% loan from family to pay off my remaining study loan)
Saving account balance: $1,700
Expense(monthly):
Rental - $240
Parent - $300
Health product installment (4 months more) - $174
Food - $300 (It was $317.25 for the month of March, I think it will be lower this month)
Transportation - $100
Badminton - $0 (I switched to basketball instead)
Book - $0 (Library is my favorite place now)
Entertainment - $100 (last month is $38.25, this month exceed $100)
Cell Phone - $20 (I am using prepaid card for self-usage)
iPad broadband plan - $40 (ending in 14 months…)
Total: $1,274
Saving rate: 0% for the next 3 months because I will be focus on paying back the personal loan. After that it will be 54%.
I am working on eating healthy while reducing my food cost. reduce my transportation cost by cycling and running more instead of take bus.
The installment for health product ends in July and I think my expense will cut down more and I need to work on entertainment cost.
Study loan: $0
Personal Loan $6,000 ( I received a 0% loan from family to pay off my remaining study loan)
Saving account balance: $1,700
Expense(monthly):
Rental - $240
Parent - $300
Health product installment (4 months more) - $174
Food - $300 (It was $317.25 for the month of March, I think it will be lower this month)
Transportation - $100
Badminton - $0 (I switched to basketball instead)
Book - $0 (Library is my favorite place now)
Entertainment - $100 (last month is $38.25, this month exceed $100)
Cell Phone - $20 (I am using prepaid card for self-usage)
iPad broadband plan - $40 (ending in 14 months…)
Total: $1,274
Saving rate: 0% for the next 3 months because I will be focus on paying back the personal loan. After that it will be 54%.
I am working on eating healthy while reducing my food cost. reduce my transportation cost by cycling and running more instead of take bus.
The installment for health product ends in July and I think my expense will cut down more and I need to work on entertainment cost.
Congratulations directionseeker!
You have made some excellent moves toward FI. Converting your school loan to a 0% interest family loan was a smart move with a certain return. Since it's a family loan, you are right to pay it off as soon as possible.
When I was trying to become FI, I learned to love the library as well. Great selection and great prices.
Good move on your cell phone. Pre-paid plans are the way to go.
If you don't mind my asking, are there many apartments in Singapore for only $240. I have heard that Singapore apartments are several times as much. I'd be interested in renting an apartment in Singapore for under $400.
You have made some excellent moves toward FI. Converting your school loan to a 0% interest family loan was a smart move with a certain return. Since it's a family loan, you are right to pay it off as soon as possible.
When I was trying to become FI, I learned to love the library as well. Great selection and great prices.
Good move on your cell phone. Pre-paid plans are the way to go.
If you don't mind my asking, are there many apartments in Singapore for only $240. I have heard that Singapore apartments are several times as much. I'd be interested in renting an apartment in Singapore for under $400.
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Hi bibacula,
I am sharing a rental room with my room and I have rented the place for 5 years now, that explain the low rent. Singapore property market seems heading a very dangerous level because its median price for its public housing has been going up for the past few years. A basic 3 rooms flat now priced up to $400,000 and I believed this price level is unsustainable for long term. Sooner or later the market will unable to afford the high price and disaster will come if that ever happen. That is why we are seeing a lot of cooling measure from government to cool off the market, I think there has been 7 or 8 rounds of cooling measure dished out for the past 2 years.
By the way, renting a whole unit in Singapore will easily cost you about $1,500 or more per month and I believe it is extremely difficult to get a decent room now for under $400. A room costs about $500 to $600 now and I am talking about minimum here. No doubt there is room for rent at lower rate but you will need connection to get those unit. I have heard story from friend and colleague where single room for rent for $400, but be prepared to stay far away from city centre and public transport.
I am sharing a rental room with my room and I have rented the place for 5 years now, that explain the low rent. Singapore property market seems heading a very dangerous level because its median price for its public housing has been going up for the past few years. A basic 3 rooms flat now priced up to $400,000 and I believed this price level is unsustainable for long term. Sooner or later the market will unable to afford the high price and disaster will come if that ever happen. That is why we are seeing a lot of cooling measure from government to cool off the market, I think there has been 7 or 8 rounds of cooling measure dished out for the past 2 years.
By the way, renting a whole unit in Singapore will easily cost you about $1,500 or more per month and I believe it is extremely difficult to get a decent room now for under $400. A room costs about $500 to $600 now and I am talking about minimum here. No doubt there is room for rent at lower rate but you will need connection to get those unit. I have heard story from friend and colleague where single room for rent for $400, but be prepared to stay far away from city centre and public transport.
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Hi JamesR,
My usual food cost per day is about $6-7. The reason why my food cost can reach $300 per month is because meet up with friend at restaurant or a fast food feast in office (fast food in Singapore is not cheap).
I am not so much of coffee or tea person. My breakfast mostly consists of oatmeal (cost less than $1), my lunch and dinner would be rice plus vegetable plus meat (about $2.50 to $3.00 each meal).
Also, I admit I do try out some expensive food in restaurant sometimes when they advertised on the newspaper, this is one of my weakest link in controlling food cost. I am still working on this one.
Ultimately, I hope I can eat healthy with about $150 per month.
My usual food cost per day is about $6-7. The reason why my food cost can reach $300 per month is because meet up with friend at restaurant or a fast food feast in office (fast food in Singapore is not cheap).
I am not so much of coffee or tea person. My breakfast mostly consists of oatmeal (cost less than $1), my lunch and dinner would be rice plus vegetable plus meat (about $2.50 to $3.00 each meal).
Also, I admit I do try out some expensive food in restaurant sometimes when they advertised on the newspaper, this is one of my weakest link in controlling food cost. I am still working on this one.
Ultimately, I hope I can eat healthy with about $150 per month.
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Re: ERE journey for single man in Singapore
Just like to update my journey here, this month is the last month of my credit bill monthly installment payment month. So, one more debt gone!
Sometimes the hardest thing to do is do nothing, and just wait the time to come. I think it make even more sense in our journey to ERE. ^^
Sometimes the hardest thing to do is do nothing, and just wait the time to come. I think it make even more sense in our journey to ERE. ^^
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Re: ERE journey for single man in Singapore
Some update here.
Student loan cleared!
Credit card bill cleared!
Saving of SGD 6,000!
Life is great when yours are.
Student loan cleared!
Credit card bill cleared!
Saving of SGD 6,000!
Life is great when yours are.
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directionseeker
- Posts: 47
- Joined: Wed Aug 22, 2012 6:07 am
- Contact:
Re: ERE journey for single man in Singapore
Not sure if anyone still looking at this post after 4 years... I am in much different financial position now and some of my investment has started bearing fruit for me. My passive income is SGD 1,120 per year now and I have some capital on hand ready to deploy to earn me more passive income now.
My income now is almost doubled since I first wrote this post but interestingly the expense also go up since I am purchasing some health supplement monthly for my family now. My food budget also increased a lot since my job has become busier now and my priority is still good food so I need to use money to buy back some time for me.
My income now is almost doubled since I first wrote this post but interestingly the expense also go up since I am purchasing some health supplement monthly for my family now. My food budget also increased a lot since my job has become busier now and my priority is still good food so I need to use money to buy back some time for me.