31 Aug 2019
Breakdown of expenses:
Not be getting married/BTO anytime soon. Parents expect me to give them money every month (amount at my discretion).
I read online that I should be saving 20% of my income, but I think it's too low.
I'd love to have guidance on how much I should be saving (& how much to give my parents).
And perhaps where is the best place for me to channel these savings. Thanks!
20% is minimum.
When you're single without much commitments, you should be saving 60%. Once you get married and a home, that drops to 40%, and then when you have kids, you'll probably save 25-30%.
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