One of the most common questions I get from readers and friends is: “How much are your monthly expenses, especially with 3 kids and a private condo mortgage?” So in this post, I’ll break down my monthly household spending, mortgage costs, and personal expenses. Would like to know if you all think this is normal, too little or too much.
Household Expenses: ~$8,000/month
This is our total monthly household expense, which includes: Utilities Groceries Tuition classes for the kids Domestic helper School FeesCar Miscellaneous family needs Fortunately, this amount is shared equally with my wife, so I personally contribute $4,000/month for household expenses.
Mortgage Repayment: $8,000/month
Here’s the big one, our condo mortgage. We’re paying about $8,000/month, and we’ve chosen to pay fully in cash. We didn’t use any CPF for this loan, so our CPF can continue compounding for retirement. This is also shared equally…
