How much money/portion of your income do you give your parents monthly? My pay is $2.5k (SGUnited Traineeship), and my parents are divorced but both recently remarried, I live with my dad. Any advice? - Seedly
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Anonymous

Asked on 13 Aug 2020

How much money/portion of your income do you give your parents monthly? My pay is $2.5k (SGUnited Traineeship), and my parents are divorced but both recently remarried, I live with my dad. Any advice?

I've asked around, some people give both parents a total of 10% (but in my case that $125/parent LOL which seems very little), some offer to pay utilities instead (but then I won't be giving my mum??). Technically I should give my dad more since I'm still living off him, but honestly, I don't have much to give LOL and I still need to pay off my tuition fee loan... Any suggestions? Thanks!

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    JH

    JH

    Level 6. Master

    Updated on 16 Nov 2020

    To each his own.

    Don't feel pressurised by how much other people give. Most important thing is whether your finances can sustain you now and in the future (marriage, housing etc.).

    Also, every parent is different. Some are never satisfied no matter how high an amount you give. On the other hand, some are satisfied with however low an amount you give. After all, it's the thought that counts.

    BTW there are people that do not give ANY dollar to their parents, not even a CNY Ang Bao (I do have such friends).

    Anyway to answer your question, I feel that 10% is a good amount to start off with, considering you still have to pay off your tuition loan. You can slowly increase the amount gradually as your finances pick up.

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    Question Poster

    13 Aug 2020

    Hi JH, thanks for your kind words and advice, really appreciate it :)
    Thank You!
    Can you clarify
    I wonder if
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    Hi, I believe it really differs between individuals. Your parents will definitely be happy to receive a small token from you especially from your first paycheck. If your parents are not needing the extra allowance, you can let them know that you hope to save up more but will give them a small monthly allowance just so as an appreciation.

    Otherwise, once you have been converted or find a job that pays better, you can slowly increase the allowance. Your parents will be happy to know that you thought of them when you received your salary.

    You can see more on my breakdown of my monthly income:

    Breakdown of my Monthly Salary and Types of Accounts I hold my Money in

    Do make sure you are setting money aside for your tuition loan payments as well as savings and then as you progress on in your career, the extra money can channelled to different avenues. Automating the allocation of your salary can help a lot!

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    F

    financialdignity

    Level 4. Prodigy

    Answered on 27 Oct 2020

    You should give zero. The previous generation has to fend for themselves just like the current one has to. If you pick up the pieces for them now, who will pick up after yours in the future?

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    Ong Ah Heng
    Ong Ah Heng

    27 Oct 2020

    It’s always has been my view that one should be able to provide more than enough for parents and own family. If don’t earn enough means only 2 things. Never work hard enough or you are in the wrong job. Your income should be enough to take care of parents, own family (wife, children if any) and still have plenty for own future retirement
    financialdignity

    27 Oct 2020

    How much should this income be and from what age do u need to reach it for you to do the things u have mentioned
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    Ong Ah Heng

    Ong Ah Heng

    Level 2. Rookie

    Answered on 27 Oct 2020

    I give 50% of my income to parents spilt equally. $2.5k each. My schedule is always packed, work 12hours a day. Car loan also pay finish already so i don't have anything much that I need to pay. No time to spend also so just need pay for necessities, phone bills, petrol, car maintainence, food

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    Thank You!
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    Yong Kah Hwee

    Yong Kah Hwee

    Level 8. Wizard

    Answered on 13 Aug 2020

    Just give whatever you're comfortable with.

    However, I do agree that you should give more to the one you're still living off of. After all, he still needs to pay for your share of bills.

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    Question Poster

    13 Aug 2020

    Yep definitely, thanks Kah Hwee!
    Thank You!
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    I feel like it really depends. If you parents are still financially stable, they will be understanding enough as in the end, you will still need to build a family and spend on your own!

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    Question Poster

    13 Aug 2020

    Thanks for this Yu Ji!
    Tan Yu Ji
    Tan Yu Ji

    14 Aug 2020

    You are Welcome!
    Thank You!
    Can you clarify
    I wonder if
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    Frankie Rappaport

    Frankie Rappaport

    Level 10. Unicorn

    Answered on 13 Aug 2020

    No advice possible from my side.

    But I feel, it is fantastic that so many persons in Singapore support their parents financially.

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    Question Poster

    13 Aug 2020

    Hi Frankie, I guess it’s a cultural thing since we are quite big on filial piety? But to me the western culture of being ‘chased out of the house at 18’ seems pretty scary HAHHAHA
    Frankie Rappaport
    Frankie Rappaport

    14 Aug 2020

    In Italy they often have still 'Hotel Mama' (unmarried children staying with the parents), haha To care for any family member to me symbolizes strength. Fine culture.
    Thank You!
    Can you clarify
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    This is so helpful 👍
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