A man in his late 30s who was married with one child wrote in a Facebook post that he was frustrated because he failed to plan his financial journey.

The man, who referred to himself as being in the middle class, earned “30k a month, and my wife is around 15k a month”.

He added: “We are staying in a humble resale HDB flat in Punggol, with no maid. We basically save more then we spent, but I just cant help thinking why I am not rich at all”.

The man went on to explain how his friend who bought a Built-To-Order flat managed to sell it and make a profit of $200,000, allowing him to buy an Executive Condominium (EC). He added that his friend and wife now own a condominium each, whereas he was still residing in an HDB flat.

In his post, he added: “I am so dumb not to just use 1 owner, and 1 essential occupier for the HDB, now i can[‘]t use just 1 person name to buy a condo to avoid ABSD.

3) It is so troublesome, to have to sell my hdb first then to buy the condo, if not the 17% ABSD will take a serious toll of my saving. Let said a district 9-10 condo at 3m, the ABSD will already be $510k!”.

The man added that according to him, it would be best to buy a BTO at first. “Also hope that middle class like us are allowed to buy an EC. There should be no restriction on income”, he added.

Responding to his post, many netizens felt that he was boasting about his income.

Here’s what they said:
Screenshot 2022 09 07 at 8.15.59 PM

Earlier this week, a 38-year-old woman took to social media asking for financial advice as she is “unable to save up anything” because of her monthly expenditure and credit card bills.In an anonymous post to popular confessions page SGWhispers, the woman said that her 40-year-old husband was also earning money.“I take home around $4500 , whilst my husband around $5800, both after cpf deductions. Staying in a 5 room hdb resale flat. We have 2 kids, one 3 years old and one 10 months old. My husband takes care of the childcare fees , enrichment classes, utilities bills and kids insurance”, she wrote.

She added that every month, she spent $2,400 of her salary on stocks and savings, money she gave her parents, insurance, and internet and phone bills.

However, she added: “My credit card bills racks (sic) up to between $1500-$2000 or over per month, making me unable to save up anything or even eat into my savings. The bills include transport fees, eating out, groceries, buying toys, clothes for the whole family”.

The woman noted that she and her husband did not have a joint account and kept their finances separate. She wrote that while she had $100,000 in assets and savings, only $15,000 was available as immediate emergency funds.

Out of her $4,500 salary, woman with 2 kids spends $2,400 and then racks up credit card bills of $2K, claims she is “unable to save up anything”

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