Photo: Depositphotos/ ronnarong (for illustration purposes only)
32-year-old man earning $3k/month says he’s struggling to budget as rent alone costs S$1.5k
SINGAPORE: A 32-year-old Singaporean man recently took to social media to share the financial challenges he’s been facing, revealing how his monthly salary of S$3,000 feels barely enough to cover his daily expenses.
Speaking openly about his situation online, he explained that half of his salary goes to rent alone, leaving him with little to cover the rest of his expenses. “I earn about S$3K a month after deducting CPF (Central Provident Fund), and I rent a room by myself for S$1.4 to S$1.5K, with zero family support,” he said.
He went on to reveal that he has no one to turn to for help, as he moved out of his family home five years ago due to strained relations, and his partner’s conservative family won’t allow anyone to live with them.
As for living in a cheaper room, the man said that he’s tried this over the past few years, but it never worked out because the landlords he lived with were all problematic.
He explained, “I had to switch off every single switch before I left the house and turn off Wi-Fi when not in use, and they suddenly added on an eight-hour air conditioning rule when it wasn’t even in the rental agreement, and the rent was still almost S$1,000,” he said.
“I also highly suspect they would always go into my room to check or see and touch my stuff when I leave the house and always try to eat my deposit and also get me to pay their agent fee by saying if I use too much aircon their compressor will spoil or fridge will spoil and stuff, and yes, I lock my room all the time, but they have an extra key,” he continued.
Towards the end of his post, the man confessed how deeply “demoralising” it sometimes feels to work, as he can’t shake the overwhelming sense that everyone else seems to manage their expenses and rent with ease.
“It’s a struggle for sure, but honestly the peace of mind is priceless.”
In the comments, numerous Redditors shared their own personal experiences to reassure the man that he was not alone in his struggle.
One Redditor, who had gone through their own difficult journey, wrote, “You aren’t alone. I’ve met quite a fair number of people in the same circumstances as you are. I used to be in this situation myself, and it was even for 17+ years. I ran away when I was 17-ish due to physical and mental abuse and have been renting for the same number of years.”
Another commenter, who had also chosen to live independently, added, “I have been renting by myself for the past four years after cutting ties with my family, and I just wanted to say that it is not easy.”
Meanwhile, a third chimed in with some encouraging words, saying, “You are not alone. Just keep going. Do your best. It will only get better as your salary goes up. Don’t listen to negative comments; you know your own situation and are making the best out of it.”
Still, despite their decisions to move out of their homes, they said they would still do it because the peace that comes with living away from toxic family was priceless.
Despite the struggles and sacrifices involved in living independently, many commenters expressed that the emotional relief and peace of mind they gained from distancing themselves from toxic family environments were well worth the challenges.
One Redditor shared, “I’m a local in my 30s and have been renting for the past five/six years, so you’re definitely not alone! My rent is about 2k a month. It’s a struggle for sure, but honestly the peace of mind is priceless.”
Another echoed this sentiment, writing, “I rent as well, and money is tight, but I made my space cosy, welcoming, and comfortable within my means. A few years ago I decided I’d rather live life slowly and mindfully, and I have never been more at peace.”
How much should you allocate for rent?
According to NerdWallet, an American personal finance company, if you’re trying to figure out how much you should be spending on rent, a good rule of thumb is to keep it under 30% of your monthly salary, but if you’re looking for a more comprehensive approach to budgeting, you might want to consider the 50/30/20 rule. This method divides your income into three categories: 50% for “needs,” 30% for “wants,” and 20% for “savings.”
So, for example, if you earn S$3,000 per month after CPF deductions, you would allocate your paycheck as follows: S$1,500 for needs such as rent, utilities, groceries, insurance, and minimum debt payments; S$900 for wants like shopping, dining out, or entertainment; and S$600 for savings.
Read also: Man devastated as ‘newlywed wife of 8 months cheated on him with a guy she found on a mobile game’
Featured image by Depositphotos (for illustration purposes only)
