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SINGAPORE: A couple in their late 20s and early 30s (with a 4-month-old baby) took to an online forum on Tuesday (Oct 29) to share how they achieved their S$100K milestone.

In the post, they shared key details of their finances, such as their household income, the breakdown of their S$100K milestone, and their annual expenses.

“Hi all, happy to share that I’ve recently achieved the $100K milestone with my significant other,” the post read, adding the couple’s wish that readers would find it helpful.

“Household income: ~60th percentile ($9.3K take home per month excluding bonuses),” the list read. It also included a breakdown of the $100K: “$34K in savings accounts, $66K in Syfe ($1K in RBLX, rest in Core Equity100).”

They also shared that their annual expenses amount to approximately $70K “all in.”

“We DCA approximately $2K per month into Syfe since 2021 and will continue to increase the monthly contribution when our income increases,” the post shared.

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One of them wrote, “I’m very fortunate to be married to my significant other with a similar financial philosophy — we don’t indulge too much, always spend within our means, and have a similar risk appetite.

We don’t have a fixed monthly budget but track our monthly expenses.”

“Keep at it if this works for you”

Many took to the post’s comments section to congratulate the couple on their milestone, ask questions, and share their insight.

“Congrats to you! I am also working with my partner to have our first $100K. Even without kids now, our annual expenses are already higher than yours (we own a car),” one wrote.

A handful of others praised the couple for working together with the same type of mindset when it comes to their finances.

“Look, you’re doing great,” said one. “What’s more important is that your SO and you are on the same track and working hard together toward a similar financial goal.

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There are going to be grinches who tell you, ‘Oh, you should have done this, you should have done that.’ Don’t be too bothered; keep at it if this works for you.

Saving for a bigger goal is not about fine-tuning everything to 0%. It’s about the habit of saving. I’m proud of you. Keep at it.”

Couples must be on the same page on money-making decisions

According to Investopedia, couples must be on the same page, especially when managing their finances.

In any money-making decision, such as managing bank accounts, spending, and budgeting, open communication, honesty, trust, and transparency are paramount as with any other relationship aspect.

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