Asked by Anonymous

I’m an NSF only earning $580. How much should I save to afford and sustain a motorbike? (Assuming I cannot be promoted with higher pay)?

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  • Leong Wen Fong
    Leong Wen Fong, Economics and Management at University of London
    Level 6. Master
    Answered on 09 Nov 2018

    To be honest, I think trying to buy and sustain a motorbike at this stage is the wrong focus. vehicles are depreciating expenses, and not something you should be aiming for when your income is low. $580 can't even really cover all your expenses, and I think it will be better if you save that money for the future!

    Being an NSF, I don't think a motorbike is a necessary expense (even more so if you are a stay-in), and the money could be better spent on educating yourself more on investing, or upgrading your skills for the future.

    Why not save a little more, and in the future, when you have a higher income and more savings, then think about luxuries like these?

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  • Gabriel Lee
    Gabriel Lee
    Level 6. Master
    Answered on 10 Nov 2018

    Agree with Wen Fong, besides as an NSF, assuming that you have to stay in, you won't be able to ride your motorbike and it'll be parked at the carpark most of the times. Over the weekends, you'll probably want to catch up on your rest.

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