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Anonymous

Posted on 03 Dec 2019

How much allowance do you guys give your parents monthly?

What is a good amount to give them? what's the percentage of your budget for this? what's the rationale behind it?

0 comments

38 answers

Discussion (38)

Bjorn Ng

Bjorn Ng

Level 15. Grandmaster

Posted on 20 Dec 2019

For me, I give about 10-15%. It depends on individuals actually.. But on top of that, other matters like meals outside or groceries or going out, I would just foot the bill. I am currently toying with the idea of depositing into their CPF though!

1

Janice Chan

Janice Chan

3w ago

Is there some kind of benefits to deposit into their CPF??

Post

Alson Chua

Alson Chua

Level 3. Freshie

Updated on 22 Aug 2019

I used to gave my mom every month $500-$800 cash and pay her phone bills and some other bills. She has a full time job and long story short, I found out that she’s not been saving up the money I gave to her and instead spending on unnecessary stuffs. Now I stop giving her the cash and instead I use the money to top up her Special Account. Calculate how much more to hit the minimum sum when she retire and top up every month accordingly. I told her I will start to give her cash again when her CPF start paying out the monthly Retirement Sum. This way you don’t need to worry she anyhow spend and no money to retire, all burden falls on you.

3

1 more comments

Takingstock @

Takingstock @

22 Aug 2019

The worst that can happen is when they loan it out, and dont get it back. I am essentially feeding another family....

Alson Chua

Alson Chua

22 Aug 2019

+1 to the “feeding another family” except it was my uncle (her brother).

Post

Hi anon,

I started with 20% of my take home and have managed to keep it to that level so far.

Of c...

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