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”.
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.
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.