Does the monthly money u give to ur parents count as expenses, and should that be counted into your 3-6 months of expenses of rainy day funds? - Seedly
 

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Asked by Anonymous

Asked 6d ago

Does the monthly money u give to ur parents count as expenses, and should that be counted into your 3-6 months of expenses of rainy day funds?

Where do you park the money you give your parents when calculating finances?

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Hi anon,

Yes I do count that in as part of my rainy day funds, even more so if they are my dependents.

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Yes, I treat it as a fixed expense in planning my cashflow. Herer is a guide on understanding our cashflow for the purpose of differentiating between a fixed expense and a variable expense: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/

Here is everything about me and what I do best.

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I would. Even if something happens to me, I still want to be able to keep up my responsibilities of supprting my family, including allowance to parents.

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