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Anonymous
I am attached but the figure is really surprising to find out that it can easily hit $5k to $11k per month. It's kind of daunting for me as I am still studying and my girlfriend works part-time which is now affected by Covid.
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Chris
20 May 2021
Owner and Writer at Tortoisemoney.com
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Huang Yixuan
20 May 2021
Person at Seedly Community
This article is pretty cool! I think if you don't need kids it's gonna be better. I'm lucky I don't need to pay for rent and utilities. I spend about $1,500 a month now, let's assume rental and utilities cost $2,500, then that would be $4,000 for one pax :O
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Hey there Anon, I think this set of statistics by Singstat might interest you too (from 2017/18 but still pretty relevant I feel).
But to sum up:
On average, households spend $1,628 per member per month
The bulk of it is spent on housing (28%) and food (20%)
But I think what's also important to know is that, averages are easily skewed and everyone's financial situation is really different. The average might be at a certain figure, but there are people on both sides of that number. I would say that the fact that you're thinking about this now, is quite mature of you and I think that's a good start. But when you're still studying and a lot of your 'adult expenses' haven't come into play yet, I know it's hard to gauge what life would like in the future. But I think there's not much point worrying about it for now and I would say just take it as it comes when you grad and enter the workforce, when you eventually acquire a house of your own and when/if you have children.
All the best!βββ