how i manage my take home salary 💰 | $3k++

to give some context, i graduated earlier this year and found an internship in a real estate company. after 3 months of working as an intern, i was converted to full-time. and now i have worked close to 4 months as a full-timer. i also freelance on the side to earn MORE MONEY 💰

it’s important to allocate your salary properly to prevent overspending/spending on unnecessary things.

i usually allocate my salary in terms of amount, not by percentage. (don’t ask me why, because i have no reason for that 🤣)

1) basic necessities (food & transport)

i would say i’m quite blessed since i am still staying with parents. this means that i can save on food & drinks cause most of the times i would bring home-cooked food to work! drinks wise, i would take from office pantry = FREE (i don’t drink drinks everytime, PLAIN WATER ATW!!)

if i were to eat out (eg meeting with friends etc.), i will try to keep within a budget of $30. however, i seldom go out nowadays cause i am just TOO DRAINED from working on the weekdays & just wanna stay at home and do my things on the weekends.

public transport is the way to go, unless it’s really necessary to take grab. i do take grab sometimes but that’s cause it’s claimable from the company (so it’s FREE). other than public transport, i have been spending my money on renting cars to practise my driving.

2) travel

i will save a part (~$1000) of my salary for travelling because i believe in travelling while you are young, not when you are old & have a lot of body aches everywhere 😅

3) shopping

i rarely shop nowadays, unless necessary. so i would set around $100 to buy things when needed, example my skincare products when they are running out. if i know my close friends’ / family bday (or any special occasion) is coming up in that month, i would allocate $50 more to buy gifts.

4) investment

we are fighting against inflation now, so saving money won’t really help with fighting against inflation. so investment is the way to go, but please do your research first before investing ‼️ ofc, investment comes with a risk. if you are NOT a risky person, you can always find low-risk investment! i personally put around $1000 into crypto every month.

that’s all! i would say that my average spending per month is around $500 & the rest will go to savings & investment!

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