Let's just say that i've been inspired once again to "plan it right" after some talk with my friends about days after marriage. Love is really not everything when it comes down to settling with someone you've decided to face for the rest of your life (At least that's my impression of marriage)
So let's just include come simple Mathematics into the picture to know where i'll stand in the society with my expected commanding salary coming soon. I've done some pre-calculations and I turned out to be quite just below the middle range IMO.
Let's see...
For confidentially I'll assume a commanding salary of 2500 SGD. Let's talk about CPF first. With 2500SGD and a mandatory contribution of 20% into the CPF, liquid cash flow shall be around 1500SGD/mth with expected food and transportation fee (15SGD x 31DAYS = 465SGD ~ 500SGD rounded off for easy calculation) thus leaving a 1000SGD liquid cash having 0.05% interest rate in POSB savings account adding up to 12,600SGD P.A in bank and a (900SGD x 12 = 10,800SGD + 2.5% P.A interest = 11,070 SGD) in your CPF account.
In total, in terms of buying a house I'll have a rough 23,500SGD round down estimated cash available.
Let's assume a 200SGD increment of income in terms of yearly experience for the first 5 years. (This is a great jump of salary base at large thus being optimistic)
I'll most probably be able to pay for my 1st HDB flat on the spot assuming a 200,000SGD 3 or 4 room apartment. This estimation is based on several flawed assumptions.
1) I do not spend as I wish and all other misc costs are not included within the 5 years time span.
2) I am assuming for the worse where my wife does not contribute to the housing investment.
3) Illness out break / emergency needs for extra expenditure.
4) I'm not having a kid by the age of 30 years old.
I'll do a more detailed calculation after this so that you'll understand the importance of planning ahead. That being said, your spouse contribution is extremely important so choose your partner carefully. Peace out.
