How much do you spend a month? Incl. expenses, insurance, leisure, debt, etc.? - Seedly
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Anonymous

Asked on 03 Aug 2020

How much do you spend a month? Incl. expenses, insurance, leisure, debt, etc.?

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Alex Tung
Level 4. Prodigy
Answered on 21 Aug 2020

Hi, there! As for me, approximately $2000 per month. But I always choose to pay later so the actual cost may reduce due to the finanical balance. Thanks!

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ūüĎć
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Here is a guide that you may find useful: Understanding Your Personal Cash Flow

Generally,

Total Expenditure = 50% to 60% of monthly income

Insurance = 10% to 20% of monthly income

Savings & Investment = 20% to 30% of monthly income

How much insurance coverage should You have?

Basic Life Cover = 10 times your annual income

Critical Illness Coverage = 5 times your annual income

I share quality content on estate planning and financial planning here.

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ūüĎć
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Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post