How much do you earn a month...

[GodMachine]

Originally posted by Throttle@Jun 26 2006, 05:59 PM

who say no need to save, I'm saving like mad everyday.......

 

I dont like to be in debt so i save more to pay off all debts.

how true in SGP life.....

but i think u mean u are working hard to pay off the things u would like to buy 1 shot rather than paying instalment/credit....

 

cos if u dont like to be in debt, u shdnt be in debt, thus no need to work hard to pay off all debts....

 

joking....

[Throttle]

Not exactly GM, there are many things which you need to buy without paying off one shot. In fact it may be wiser not to pay off one shot.

Not liking something also doesnt mean that you should totally avoid it.

 

Debt (Leverage) however much I may not like, is actually necessity in today's society. However, we need to be prudent with debt.

Leverage has bankrupted one too many young person, although I certainly dont pity them.

 

I just like to make sure that if I lose my job right this moment, there is nothing I need to sell off to carrying on my days as per normal for at least 2 years. I also target to pay off all my real estate debt within the next 5 years. Next year this time, my car will be fully paid. Yippee.

[GodMachine]

cool....if everyone is as prudent and sensible, then we wont see so many bankrupt case around in SGP....be it they are young or old.

 

for my case, i dont like it either....thats why till today, i dont have a bigger bike, which i know i cant afford the instalment or full cash, just happy with my xiao mian yang

[amgm125]

I seriously don't know how one survive with a car earning 1k-1.3k because i saw quite a number of votes for it. Also it's very hard for a car enthusaist to be happy living in sg. Sign

[Throttle]

there must be supplements coming from somewhere for the voters in that category. Either that or they are students with no other commitment so $1k to $1.3k can keep car.

[amgm125]

Lucky them. 1-1.3K monthly buy COE car still ok because their price is generally lower and thus there is no need to loan such a big sum.

[Guest doremo]

me and bro thinking of sharing wrx :sweat: our combined salary ard 4.8k, should be euff i think ?

[Skunk]

Originally posted by doremo@Sep 28 2006, 07:34 PM

me and bro thinking of sharing wrx :sweat: our combined salary ard 4.8k, should be euff i think ?

it all depends.

 

$4.8K if need to support retired parents, parasitic siblings, 10 kids and a car, no way.

 

If $4.8K and none of those and a reasonably frugal lifestyle, no prob. A 1.6litre jap car would cost around $1.2 to $1.3K monthly to upkeep.

 

However i would advise u (and anyone else) to "share" a car. NO way u can "share" a car, esp if both are drivers. Eventually will lead to trouble. Non-stop trouble. Husband and wife share car sometimes already quarrel, dont say friends, siblings worse.

[NotSoBlurr]

Originally posted by doremo@Sep 28 2006, 07:34 PM

me and bro thinking of sharing wrx :sweat: our combined salary ard 4.8k, should be euff i think ?

Don't share, who going to drive on weekend?

 

There will be unhappiness.

[Throttle]

Originally posted by doremo@Sep 28 2006, 07:34 PM

me and bro thinking of sharing wrx :sweat: our combined salary ard 4.8k, should be euff i think ?

Eh hem, If base on your calculation, all my colleagues should be driving Porsches, Ferraris, aston martins, Bugattis, Maseratis

 

be more down to earth lah, $4.8k per month is nothing, why squeeze yourself by owning just a WRX????

[Guest doremo]

i only wan buy wrx..... e only car i like. its like if buy den buy wrx if not dun buy, my bike is enough.

 

hmmm now we sharing bike, den share car so will be alt bet share bike n car lor.

[ulysses_sc]

Originally posted by doremo@Sep 28 2006, 07:34 PM

me and bro thinking of sharing wrx :sweat: our combined salary ard 4.8k, should be euff i think ?

I seriously think you should not try to indulge in a WRX. I and my spouse make a comfortable living, but we still think our car expenses (mazda 3) can be lower.

 

$4.8K does not get you very far with a WRX. I would even say it's not enough for a typical Japanese saloon car.

[wait4me]

share car???

ho ho ho

 

i smell quarrel arsing .....

unless u the give in very easily type .....

 

who use the car ,who more urgent

petrol how to spilt??

[Throttle]

How much would you have to make a month before you would buy a $150k car? Just wondering

[ulysses_sc]

Originally posted by Throttle@Sep 29 2006, 07:28 PM

How much would you have to make a month before you would buy a $150k car? Just wondering

$15K

[Throttle]

including maintenance of a good lifestyle, i would say $25k per month

[ulysses_sc]

should be more specific. It's $15K per person, that means at least $30K per month household income before considering getting a $150K car. :giddy:

[Skunk]

Originally posted by Throttle@Sep 30 2006, 12:18 AM

including maintenance of a good lifestyle, i would say $25k per month

overtly conservative, personally, unless the "good lifestyle" Throttle is talking about is the daily $200 cigar , champagne at every meal and diamond watches for every occasion hohoho.

 

I know of a family with combined income $25K and they have a lexus and a camry....they seem to get along fine in life....of course, no cigars daily lah haha

[Throttle]

Yes, I am fairly conservative when it comes to cars but becos you only lose money with cars. With financial trading, it's a different story.

I think my question would be better phrased if i had put consideration into other aspects of the sample buyers life.

 

eg: young man earning $10k per month but has no house no family versus some one else earning $20k per month but has a wife, a child and halfway through paying an apartment.

 

=============================================

 

And no lah, Skunky, my good lifestyle is not as you've described.

I can do with a $20 cigar anytime, champagne once a year, and no diamond watches at all.

 

=============================================

[Throttle]

Originally posted by ulysses_sc@Sep 30 2006, 02:11 PM

should be more specific. It's $15K per person, that means at least $30K per month household income before considering getting a $150K car. :giddy:

Hmm, yeah, I think thats about right.....

 

but it doesnt seem to be the case for many singaporeans.

many singaporeans dont even have $50k sitting unencumbered somewhere yet they buy cars that are pass a $100k.

[Skunk]

Originally posted by Throttle@Sep 30 2006, 06:53 PM

I think my question would be better phrased if i had put consideration into other aspects of the sample buyers life.

 

nah....still think u r overtly conservative.

 

Throttle's expenses: (based on surface observations)

 

Personal: food, cigars, wine, blah blah $1K

Car: $1.5K

Wife: $1K (i hope so keke)

Appartment: $2K

Savings: $2K

 

Total: around $8K

 

ok wat, your life very much within your capabilities. No need earn $25K monthly then afford $150K car lah, or else Performance Motors close down already.

[xb84]

throttle, i probably share the same thoughts as you on:

1. depreciation of vehicle

2. investing

 

i feel damn guilty spending my own savings on a bike that loses value every year.

i have seen the opportunities of making money with money.

 

that is why:

1. i have placed my money on shares, instead of putting 2 class2 bikes otr.

2. my current bike i'm using to travel to uni is paid with my dividends/capital gains.

 

there's always the temptation of putting a class2 bike otr.

and it will be harder to resist once i enrol for class2 this coming thurs!

 

what i'm trying to do now is:

1. stay on my current s4

2. build up my capital such that dividends/capital gains will be able to pay for bigger bikes and other obessions

 

 

 

 

 

 

 

 

 

 

 

 

my heart asks me to put a cbr1000rr otr once i pass my class2,

my head says i shall probably wait for another few years and get a used bike.

[BlackDawn]

Need an opinion here...

 

Couple combined income ~$6.5k, no kids. No cash debts except a mortgage which is fully paid by CPFOA contributions. Will it be financially comfortable to maintain a Toyota Vios & a class 2 bike (say OTR price about $20k?)

[Throttle]

Originally posted by Skunk@Sep 30 2006, 08:16 PM

nah....still think u r overtly conservative.

 

Throttle's expenses: (based on surface observations)

 

Personal: food, cigars, wine, blah blah $1K

Car: $1.5K

Wife: $1K (i hope so keke)

Appartment: $2K

Savings: $2K

 

Total: around $8K

 

ok wat, your life very much within your capabilities. No need earn $25K monthly then afford $150K car lah, or else Performance Motors close down already.

Personal: Food, Cigar, etc.... $1.5

Car: $2.4k (instalment, parking ERP insurance tax)

Wife: Depends

2 Apartments $??? (instalment) $150(utilities)

Bike: $100 (petrol insurance tax etc)

Other misc expenses: $500

Parents: $1k

Tax : $???

Savings: much more than $2k

 

But still cant bear to own a $150k car leh........$126k car more than enough already.

Most stupid financial decision in my life is to buy a brand new Continental car.

[Throttle]

Originally posted by kiamh@Sep 30 2006, 09:58 PM

Need an opinion here...

 

Couple combined income ~$6.5k, no kids. No cash debts except a mortgage which is fully paid by CPFOA contributions. Will it be financially comfortable to maintain a Toyota Vios & a class 2 bike (say OTR price about $20k?)

I think so, Kiamh. you only have to find your comfort level and tie that with your affordable level.

 

Like what skunky says, it's about lifestyle and also personal comfort in terms of using your speculative (future) income.

Many people overuse their Speculative Income and the worse happens when the speculative income doesnt come as projected.

 

I down almost $80k for my car and took a short 3 yr loan becos that was my comfort level.