Asked on 21 Oct 2018
Top Contributor (Sep)
If you're single it's possible. Is it ideal, honestly no.
I'd focus on trying to make more money either through part time work or side gigs.
It's harder to cut $1k expenses to $800 than it is to add $200 of income.
You mentioned “survive” & so to your question, it is a definite yes. Whether single or married with a child or 2, it is technically still possible. Personally, I will never want to start a family (at least not in Singapore).
Assuming you're single and no family, only possible if u share a rental flat with a few others. Then save whatever income u can with a view to investing in the future.
I think it could be a stretch. Also depends if you are single or have a family...
And if you are servicing any home loans, which could make this even more of a stretch.
Find ways to upgrade yourself via the Skillsfuture program and other certifications to level up your biggest source of income - your salary. All the best man :)
If you are keen to save more and survive at the same time, you can follow some of these amazing tips by your fellow community members here: https://seedly.sg/questions/what-are-some-easy-money-hacks-that-a-20-30-year-old-can-do-to-save-and-make-money
The brutal truth is yes.
So the question you should be asking yourself is how to imrpvoe your circumstances.
The tips and tricks have been talked to the ground and stomped over and over.
Increase direct income. Increase passive income. Reduce expenses.
To be even more brutal. More + less -.