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Monday, October 3, 2022
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GUY WITH $2.3K INCOME & $18K SAVINGS, ASKS IF HE CAN AFFORD RENTAL OF $800

I’m ready to move out. Does 800/mo rent work with $2300 a month of income?

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I need to move out but I can’t risk having to go back home due to not being able to pay rent.

I have $18500 in savings. I make $2300 a month, I don’t have a car I use the bus and have concession so transportation is cheap right now but i want to buy a car sometime in the next two years

My expenses will be rent, food, utilities, phone bill, gym membership and other subscriptions

Can i afford this in Singapore with a good cushion of savings and no car expenses, and full time work? I’m going to be renting a room.

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Netizens’ comments

  1. I made 32k a year and paid 1100 a month in rent and didn’t have a car or pay for school or have dependents, so a pretty comparable situation. It was pretty comfortable, I could eat out once a week at least, and I never felt so pressured that I really had to track my spending (I am naturally pretty thrifty). You got this!
  2. I was able to do $800 rent at about $2000 a month with no savings(Canada), for a few years. Sooo you are way better off than I was. I had a budget, didn’t get to travel or things like that, but did have fun in my city on this amount.
    Gave you actually written out all you expenced, down to groceries, coffee, take out and subscriptions ect? I do that every now and the still, but I think you will come out on to from the sounds of it!
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