Personal Finance
Large family don’t need a car
By Investment Moats  •  August 21, 2013

Channel News Asia profile this family in their Outlier program. This family is really a good case study on a lot of levels

Its about this family with 5 children, not very common in Singapore’s family nucleus nowadays:

  • One sole bread winner earning 8-9k
  • Saves 20% of his income which is around 1.6k
  • Doesn’t own a car
  • Preaches savings for the kids, with parents matching the children if they decide to save their pocket money

The fact that the common thinking is that if you are married, with the congested public transport, you have to have a car and that  many folks earning 3-4k will channel any extra cash they have to a car makes me think their thought process is also independent.

If you are earning so much, and have always been surrounded by a big family  you would give in to the temptation of saving that hassle ...

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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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