Tuesday, March 16, 2010

Monthly Expenditure and Cost of Living

As I was walking to the nearby coffeeshop to get my breakfast today, I could not help but wonder how much my expenditure has increased over the years.

As a primary school student, I was only given like $5 to $10 pocket money per week.

In secondary school, that was increased to $50 per week.

In junior college, the amount rocketed to around $80 per week.

I was so-called "financially independent" from my parents after JC and paid for my way through university. My expenditure per week then amounted to around $150 to $200 per week.

Today, without doing anything...my expenditure is easily $700-800 per week because of all my loans, bills and stuff.

So I was thinking to myself....AMAZING!! My expenditure has increased by so much over the years.


Actually, my expenditure has not increased dramatically.

What happened was that my parents were footing the bills for me in primary school. The things that I used and enjoyed, like a roof over my head and food on the table were actually costs that were borne by my parents. I was only thinking of the money that I spent in terms of pocket money but failed to realise that my parents were actually paying a much higher cost for all my other miscellaneous expenses.

The only conclusion I have come to is this : The cost of living in Singapore is really high.

One generation pays for the next generation and the next generation pays the bills for the next-next generation. When it comes to the time for them to retire, parents who do not have enough retirement money (because they have spent it all on their children) will look to their children for support. By then, their children themselves will already have children of their own and will have no choice but to shoulder the burden of feeding three generations (their parents, themselves and their children).

How to retire in Singapore?


  1. How to retire in Batam when I haven't even earn enough money to pay off all my debts?

  2. Not forgetting ever-increasing inflation ...

  3. The housing cost really gone too much and crazy. Home appliances, and electronics are actually cheaper

  4. Wow you make it sound very depressing.

    Although I agree cost of living is high, one can always cut back on certain "luxuries" and make do without certain "creature comforts". It's a matter of choice.

    Most important is you are able to save at least 10% of your salary every month; and to ensure your savings build up over time. You would be amazed at how much you end up with after XX years.....

  5. Hi MW,

    I do not really spend on any luxuries except perhaps the car =)

    I have also been saving more than 10% of my income but even when I look at that nest egg grow, I feel that it is growing too slowly and it does not seem that I will hit my retirement figures just by saving 10% alone.

  6. Then make it 20%, or even higher! Hehe.

  7. hahah...yah...I figured so..

    I reckon that I am saving around 30% of my income. I am a SAVER in the true sense of the word.


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