how many % of your income did you spend on ur bike or car+bike

[GuiNNeSS]

how many % of your income did you spend on ur bike or car+bike per mth

 

things to be included are -:

 

installment

road tax + insurance (divide by 12 mth)

petrol

parking + season parking

ERP (if any)

maintenance

other (money set aside for fines, blah blah)

 

if you mod your ride, include too

[adamant1988]

how many % of your income did you spend on ur bike or car+bike per mth

 

things to be included are -:

 

installment

road tax + insurance (divide by 12 mth)

petrol

parking + season parking

ERP (if any)

maintenance

other (money set aside for fines, blah blah)

 

if you mod your ride, include too

 

hahas i spend almost 70 to 80% on my bike every mth..bo bian still student..nid study,nid to feed bike,nid to feed gf also.. but mostly on repair,montly installment,2t and summon lo.. sian

[dreamwalk]

anything more than 25% is a financial strain.

[GuiNNeSS]

correct.. the guideline is 25%... but alot i believe are stretching to the limit.. students can be excused la..

[Sky99]

my dad spent about 20% on his car mthly

[DaN zI]

my dad spent his earnings for both my bike n car license as well as all my bike maintenance now.. guess 1% of his mnthly income? haha.

 

wa 1% of his income ? if bike u spent $500 for e license(veri power liao) . 100% = $50k .

[racingter]

i can say . a lot.

[GuiNNeSS]

gd to haf rich dad

 

dont complain if you dont cause u urself can be one.. lol

[Aie]

Mine is about 20%. After this October when I finish my installments, that installment amount will go into my bike trust fund for my next new bike in 2010...

[jia_yvon]

i think if wan feed car average 1 month at leat 1k.

 

oK wAT.. .. haha.

 

so ur dad earns 50k per month? which gif u 1% is 500 ?

:lol:

:lol:

 

if tts the case, u wont be staying in HDB n kpkb complain about ur carpark liao, wont scare ppl steal ur belongings liao loR ! LOLLLLLLL

[wait4me]

jia lat

i think i spent 50% leh

[geraki]

i spend more than 50%

that why now eat air...

[Guest stages]

I spend half on my bike.....

[effee]

i spend about 300+ monthly on my bike, mostly petrol

[queirtus]

i spend about 300+ monthly on my bike, mostly petrol

 

wah wat bike u ride sia? me spending of bike monthly: average around 150 plus coupons and bla bla bla...

[xiaobanz]

Haha.. Was thinking that spending 25% on the bike is already a lot.. Some more i'm a stay in personnel in camp.. Still spend about 25% means quite a lot le..

[GuiNNeSS]

haiya.. y argue so much.. 5k a mth alot meh.. 3k is singapore average ma...

 

so for one to be a manager level easily 5k liao... very reasonable.

 

how much one earns does not matter, its how much one save tat does the different. tats y this thread how much u spend on ur ride from your own income. if from family income to pay for ur car and bike then... hai~ no need jealous also...

[Guest NPNT]

i wd love to answer ur thread, but a bit cheem ah to calc everything based on a /mth basis, esp when it comes to insurance etc, whereby we pay 1 shot.

 

SG avg is $2.5K, read an article last yr. mebbe to her, earning $5K is a bomb liao!

[Guest stages]

actually guys!! Dun waste too much on Bike/car... Save more for yrself to enjoy... if u Spend so much on yr transpot in the end left nothing for yrself what the pont isnt it???

[MS]

A decent thread which enquires a sensible question ends up in flames with verbal insults hurling pole to pole. I am merely a bypasser and not taking sides. I just want a peaceful forum for discussions. Conflicting viewpoints are part and parcel of discussions which all have to take it with maturity. Eventually if it cannot be resolved, we have come to agree that we disagree. Why the need to start using insults on someone you do not know in person? If someone claims that he/she is wealthy or good then so be it. This is just a forum and there's nothing we can do to verify online. Using insults will only reflect poorly on the individual worth of integrity.

 

Back to topic, are there any financial advisors here who can contribute to the input of such?

[Aie]

Out of respect for TS, I won't close this credible thread yet even though it has been laced with inflammatory remarks and posts. Instead, I have thrashed all those offending posts. Henceforth, do stick to topic and refrain from repeating such posts. Failure to do so will result in this thread being closed and infraction points awarded to the offenders. Have a nice day...

[jia_yvon]

i think my petrol money is already around 1/8 of my monthly income liao. LOL

 

fully paid ride

[MS]

i think my petrol money is already around 1/8 of my monthly income liao. LOL

 

fully paid ride

 

I hope the cost of fuel will slide downwards and hopefully the inflation will slow down and bring everything downwards.

[minorsage]

Bikes normally all fully paid, Car 50% downpayment.

 

Currently around 28% of my monthly income, i know i am not sticking to the 25% rule.

 

But still got 11 x $1500 installment to pay only, after that will consider changing car or get another bike.

[MS]

Bikes normally all fully paid, Car 50% downpayment.

 

Currently around 28% of my monthly income, i know i am not sticking to the 25% rule.

 

But still got 11 x $1500 installment to pay only, after that will consider changing car or get another bike.

 

When I put in 50% d/p for my car, the SE actually told me most of his customers only pay about 20%. I asked him why do they want to pay the extra 30% with interests when they probably could've paid it off. The reply he gave was that because they believe that the extra 30% could've been invested somewhere else.

 

My colleague also does the same. He ticked me off by saying that putting the extra 30% into the car I bought will be 30K into a depreciating asset. With that, he'd rather use that 30K as a form of investment in something else which reaps back enough money to offset the interest.

 

With 2.38% per annum, A loan of 7 years, it will be 16.66% in total. 1.1666*30K = 35K

 

By not paying that 30K into d/p, there will be an increase of 5K as a form of interest. However, if he uses that 30K to buy shares or invest in unit trusts for example, this 30K can potentially go up to 45K in 3 years easily offsetting by 10K of profits.

 

Well... I am not a financial guru so I can be wrong. But what he says makes absolute sense to me.