Wedding costs aside, moving into a new place can be expensive. Having kids can be expensive. Marriage alone isn't the main cause of expenses going up. But definitely a contributing factor.
Love this story. Super relatable. One of my friends turned to retail/food therapy due to her stress from work. Also doesn't help her family is somewhat of a rich background. Stopped hanging out as often, and was told that "I have changed". Ah well, I always thought it is the company that counts but I guess my eyes are more open now.
With you and Ruiming's success in The Woke Salaryman, there are times where it feels like the both of you are just a higher level being. That's why it's such a huge inspiration to hear your story, especially since it's extremely relatable. Personally, I had a spending issue in the past, where I pretty much spend on anything as long as I have $300 in my account. And indeed, separating my spendings from savings is the single action that made a huge difference to my financial trajectory!
That's very nice of you to say but absolutely not, we make stupid mistakes and feel flawed and broken frequently as well. As content creators it's just easier to present stuff you are comfortable with, that you have figured out and made work for now, but there are so many things we don't know and are wrong about. We just don't go making content about it hahaha.
I'm Indonesian, and it is a known fact that our income is meagre. But given that I work in the mining & manufacturing sector, I know that I am very fortunate that I earn as much as three or four times as the average salary of most Indonesians. Had I not achieved that small target (10k SGD), I don't think that I would have had the chance to move to Australia, albeit with work and holiday visa. It's funny that most people say that money cannot buy you happiness, but I sincerely believe that money can help you achieve your goals.
hey! great to see from instagram to here, I am having a similiar problem you mentioned later. im a seriously stingy spender, every 10 dollars i spend on food I would always ask myself wether I could have saved 8 dollars by buying just a filet o fish (back when it was still $2, inflation kinda whack). Now, I am really upset joining uni, seeing my balance constantly fall below $10,000 because of my spending. I try to cut back but that would compromise with my social life, and its frustrating studying at SMU because EVERYTHING there is godly expensive. I do not enjoy paying little for unhealthy food too, for spending that extra few bucks for years could mean a few more years of my lifespan. Thank you for sharing, hope to see more of these content more!
Great video. A good number to start for future progression. Still remember earning a meager 1k+ for my starting pay, after monthly expenses I would left with a 3 digit to save (stress!). So I made a point to create an additional bank account and auto monthly transfer of $100-$500. This help me prepare for emergency fund and/or investment fund in the future.
Thank you for sharing! Just wanted to know how did you trampoline from 10k to 100k and what difficulties did you face along this journey from 10k to 100k
Honestly it's quite similar as 1k to 10k. Once you have opened your mind to 10k is actually possible and set it as the target u can achieve it. Same goes to 100k.
Started my first job in April, taking home 3k/month, being disciplined about transferring 1k out as savings every month not easy sia really can't go out too much or buy stuff 😭
my mom trained me to save an amount from salary every mth since i started working. or even during schooling when i have the access of my bank. so when i went back to school to upskill myself. that saving kinda become my own pocket money so i didnt really ask from family.
Morning dude. I always thought 100k is the goal. I am currently 19 and I have around 38k. 32k in investments and 6k in cash. I started investing in 18 years old and I started a small dropshipping business when i was in rjc. Earned around 25k from it. I have never worked part time in my life and also have never seen the point of working part time as a waiter. Thats why I started a dropshipping business. All of my net worth is from my own hard work and investments. My word of advice is to get to 100k ASAP. Thats when your investments start getting you good returns. Around 10k a year. Im hoping to achieve 100k when i turn 20.
@@Bulruninvests bro go out enjoy and experience different sides of the world while you're young. 100k not hard to hit but your youth experience is priceless because after you hit a certain age, most of the stuff is just mundane routine lol
I agree on how savings can give you freedom to take a break for mental health or any other reasons. I’m privileged to be able to take an unpaid break but now I feel like I’m back to square one, trying to rebuild my savings. To be honest, it stresses me out. I’ve spent close to 50k on treatments, travels and monthly commitments while not earning. It’s pretty daunting when you’ve had that amount before and you’re also no longer a fresh grad. At the moment, I’m trying to get better while earning half my normal salary. Hopefully, I’ll get to my full salary back by March next year.
Thanks Wei Choon for this timely video. I absolutely agree with you that when we aim too high and fail, it is demoralizing. Appreciate the tips you shared on how you overcome your struggles. They are so relatable!! I am motivated to try out your tips to help me be more financially savvy. Thank you so much 🙏🏻
Hi Wei Choon, could you possibly do a comic to bring out awareness on different people with different appearances such as being bald, alopecia, shorter than average, oversized, eczema, entering into the workforce. Does society still treat us the same or majority treat us based on how we look..
I've been very thrifty so I have some savings now, BUT I have a problem with upskilling myself. It could be a combination of factors that I won't go into but I am afraid of the idea of having too much responsibility or interaction with people (mainly customers).
I think it takes time and it's fair to find a way to do this in a way that is sustainable for you. The efforts you take to upskill often have a compounding effect, so it'll go slowly first but if you persist it may come quicker later on, especially if you do this on a good foundation (good attitude, macro mindset, paying attention to soft skills)!
@@thewokesalaryman I'm fresh in my 30s and have a good track record at work. I'm valued by my higher ups and clients due to my work ethic and attitude. I'm easy to get along with despite preferring to keep to myself, I don't have issues with folks at work, I try to be understanding. I just fear responsibility and being caught lacking in my knowledge. I'm thinking of going for supervisory position when it's open, preferably with a small team to start with.
@@CosmicErrata I can relate because I think that too! Even today, as I am transiting to an art director role in the company, I do miss my past role of just being the primary artist where most of my work is just pure drawing. From my own perspective, I also became a manager when the opportunity came (i didn't go looking for it). It wasn't an easy transition but when all is said and done, after the initial 3 months of discomfort, I find that it wasn't as hard as I imagined. So definitely give it a shot, it may surprise you. There is a satisfaction when it comes to managing well also, and the supervisory perspective will probably help with other aspects of your life. Worse come to worst, you just go back to your previous role :)
@@thewokesalaryman Yeah! That should do it. Even now I flip-flop between "What will be will be" and "Oh no oh shit what if I mess up?" But a little greed is a good pusher, I guess, haha. Though I think I'll be alright. Yeah, in case it doesn't work, I'll just revert, but my salary ain't fantastic, it's less than 2k after CPF, which is why I'm worried about the future.
I have almost saved my first 10k after 5 an half months, all cash. I made it clear to only save cash because i used to do spending sprees with my debit card online. But at this point it dont feel like im saving anymore, it feels like im just collecting as much as i want. Like i legit be organizing my 5s my 10s and 20 bills man. Theres a point where you like just straight collecting it
Unpopular opinion here! - I feel that if u are earning less than the singapore average salary (~ $4k) Saving is not the most effective way to save 10K. Especially if u have many responsibilities (parents, kids, etc). Having a side income to get to 10K is easier than to save in sg due to the high standard of living. Earn ur side income but dont use it at all. Use ur main income for spending.
it was certainly possible six seven years ago with 2k salary. not possible now with even 4k salary due to property market manipulation. rich people get richer.
with high interest rate environment now, sgporean can jus throw 1k into t-bill every 2 months or 3 months dependin how much you can save to make sure u don see that money after 6 mths.
Hello TWS Team. I wonder how can I save $10k as my job emergency fund. Upon conversion to Philippine Peso, it will be 575,730 Php., almost half a million. Will this fare applicable for my status as a regular worker?
Followed you guys on your insta for some years and can't believe I didn't see your RUclips content all this while! Thanks for all the good stuff you guys have shared over the years. Going to be a loyal subscriber here as well!
@@yrtwo I moved out and was renting by myself since I was 18 years old because I'm from Malaysia haha. I was renting a small condo and split the cost with 3 other housemates, so my rent was around 600-800 then. By the time I reached my 10k I bought a resale with my wife and the mortgage is around 700+ a month. My advice is the same as what I said, pay yourself first. There are some lifestyle sacrifices you have to make, but they'll be worth it. It pays to really think about what you can do as hobbies that are affordable/cost efficient. For me I got used to working out at the fitness corner (instead of a gym) and buying my video games only when they were on discount hahaha.
@@rachelchong2862 I didn't budget very precisely back then but it was around 50%. So I gave myself around 2-3k for monthly expenses, and put the rest away. It was very difficult initially because I also had a big uni debt to pay off ($25k), so I was aggressively dumping money into the loan initially to clear it off as fast as I could. But when I cleared that the 10k came a lot faster! Saving and budgeting helps A LOT but earning power is probably the most powerful thing you can work on. It'll take a while to build and you have to consistently upskill and work hard and market yourself, but having earning power will make all the other aspects of personal finance easier!
@thewokesalaryman Any advice on how to start on this $10k journey for someone who is in their mid 20s paying for student loan, mortgage and house renovation instalments but earning a below average salary figure that starts with a low $2k at the front
Yes! First off it's not a race. Mid 20s is still young. I got my first 10k only when I was around 28, because I also had all the loans you mentioned! My peers were all way ahead of me when I was in my 20s and I let it affect me but it actually doesn't matter. In the short-term work on your spending, be willing to sacrifice some lifestyle bits and take pride in finding cost-efficient ways to have a life and enjoy yourself. In the long-term, the most important thing you have to do is to work on your earning power. This will be difficult to see immediate results because your earning power is also dependent on many external factors like your company, the industry at large, as well as the global economy. But I believe that over time, your value will shine through if it's there.
i think after 2 years start to consider to change job, i assumed you are doing office work related and market will be more kind to mid 20s with some exp rather than freshies.
so I should pursue a degree even when I am uncertain about my career interest... I seek for your advice. I am currently in my last year in SP studying marine engineering. Thank you.@@arsenal_84
I got to 10k in a year. Got to 50k in 5 years. Got married, and now I'm back to 10k. 😅
Is that really much hardship when having family? I'm quite afraid my stream of revenue dwindling when having or starting a family.. 🥲
But sometimes the joys in life come from a strong support of a family . Just work harder and aim higher for your family
📝dont get married
Thought it would be an encouragement, ended with an advice :D
Wedding costs aside, moving into a new place can be expensive. Having kids can be expensive. Marriage alone isn't the main cause of expenses going up. But definitely a contributing factor.
Love this story. Super relatable.
One of my friends turned to retail/food therapy due to her stress from work. Also doesn't help her family is somewhat of a rich background.
Stopped hanging out as often, and was told that "I have changed". Ah well, I always thought it is the company that counts but I guess my eyes are more open now.
The only reason on why some people can’t even save $10k is that you had a very good life and never experience poverty before
With you and Ruiming's success in The Woke Salaryman, there are times where it feels like the both of you are just a higher level being.
That's why it's such a huge inspiration to hear your story, especially since it's extremely relatable.
Personally, I had a spending issue in the past, where I pretty much spend on anything as long as I have $300 in my account.
And indeed, separating my spendings from savings is the single action that made a huge difference to my financial trajectory!
That's very nice of you to say but absolutely not, we make stupid mistakes and feel flawed and broken frequently as well. As content creators it's just easier to present stuff you are comfortable with, that you have figured out and made work for now, but there are so many things we don't know and are wrong about. We just don't go making content about it hahaha.
I'm Indonesian, and it is a known fact that our income is meagre. But given that I work in the mining & manufacturing sector, I know that I am very fortunate that I earn as much as three or four times as the average salary of most Indonesians.
Had I not achieved that small target (10k SGD), I don't think that I would have had the chance to move to Australia, albeit with work and holiday visa. It's funny that most people say that money cannot buy you happiness, but I sincerely believe that money can help you achieve your goals.
Yeah.. That's hard in Indonesia. I just hope I can got more than 100k...😅 before 30 🥲
hey! great to see from instagram to here, I am having a similiar problem you mentioned later. im a seriously stingy spender, every 10 dollars i spend on food I would always ask myself wether I could have saved 8 dollars by buying just a filet o fish (back when it was still $2, inflation kinda whack). Now, I am really upset joining uni, seeing my balance constantly fall below $10,000 because of my spending. I try to cut back but that would compromise with my social life, and its frustrating studying at SMU because EVERYTHING there is godly expensive. I do not enjoy paying little for unhealthy food too, for spending that extra few bucks for years could mean a few more years of my lifespan. Thank you for sharing, hope to see more of these content more!
Great video. A good number to start for future progression. Still remember earning a meager 1k+ for my starting pay, after monthly expenses I would left with a 3 digit to save (stress!). So I made a point to create an additional bank account and auto monthly transfer of $100-$500. This help me prepare for emergency fund and/or investment fund in the future.
"I do have a good side glance game" lol!
Love this format.
Hey look who popped up on my feed! Woohoo!! 🎉👏🏻👏🏻👏🏻
I've seen the comics so many times and never knew there was a channel, this should be at least 10 times bigger :)
Nice monologue format you are trying. Jiayou
Thank you for sharing! Just wanted to know how did you trampoline from 10k to 100k and what difficulties did you face along this journey from 10k to 100k
Appreciate if we could have this!
Honestly it's quite similar as 1k to 10k. Once you have opened your mind to 10k is actually possible and set it as the target u can achieve it. Same goes to 100k.
Thank u for sharing! It was incredibly hard but liberating when u reach that goal
Started my first job in April, taking home 3k/month, being disciplined about transferring 1k out as savings every month not easy sia really can't go out too much or buy stuff 😭
my mom trained me to save an amount from salary every mth since i started working. or even during schooling when i have the access of my bank. so when i went back to school to upskill myself. that saving kinda become my own pocket money so i didnt really ask from family.
Morning dude. I always thought 100k is the goal. I am currently 19 and I have around 38k. 32k in investments and 6k in cash. I started investing in 18 years old and I started a small dropshipping business when i was in rjc. Earned around 25k from it. I have never worked part time in my life and also have never seen the point of working part time as a waiter. Thats why I started a dropshipping business. All of my net worth is from my own hard work and investments. My word of advice is to get to 100k ASAP. Thats when your investments start getting you good returns. Around 10k a year. Im hoping to achieve 100k when i turn 20.
I never go clubbing and only spend around 200 a month going out and eating with my friends. Other than that. I don’t spend much.
@@Bulruninvests bro go out enjoy and experience different sides of the world while you're young. 100k not hard to hit but your youth experience is priceless because after you hit a certain age, most of the stuff is just mundane routine lol
@@Bulruninvestswhere you from
I agree on how savings can give you freedom to take a break for mental health or any other reasons. I’m privileged to be able to take an unpaid break but now I feel like I’m back to square one, trying to rebuild my savings. To be honest, it stresses me out. I’ve spent close to 50k on treatments, travels and monthly commitments while not earning. It’s pretty daunting when you’ve had that amount before and you’re also no longer a fresh grad. At the moment, I’m trying to get better while earning half my normal salary. Hopefully, I’ll get to my full salary back by March next year.
Great video 👍🏻 please do share the journey to 100k! Thank you!
I like this new format you're trying! An unrelated topic since you are trying new things - next time can do house tour?🤣
Thanks Wei Choon for this timely video. I absolutely agree with you that when we aim too high and fail, it is demoralizing.
Appreciate the tips you shared on how you overcome your struggles. They are so relatable!! I am motivated to try out your tips to help me be more financially savvy.
Thank you so much 🙏🏻
Thanks for sharing the tips & tricks of getting towards 10k
Hi Wei Choon, could you possibly do a comic to bring out awareness on different people with different appearances such as being bald, alopecia, shorter than average, oversized, eczema, entering into the workforce. Does society still treat us the same or majority treat us based on how we look..
What should I do after I have 10K in the bank? How do you progress/multiply that saving
I've been very thrifty so I have some savings now, BUT I have a problem with upskilling myself. It could be a combination of factors that I won't go into but I am afraid of the idea of having too much responsibility or interaction with people (mainly customers).
I think it takes time and it's fair to find a way to do this in a way that is sustainable for you. The efforts you take to upskill often have a compounding effect, so it'll go slowly first but if you persist it may come quicker later on, especially if you do this on a good foundation (good attitude, macro mindset, paying attention to soft skills)!
@@thewokesalaryman I'm fresh in my 30s and have a good track record at work. I'm valued by my higher ups and clients due to my work ethic and attitude. I'm easy to get along with despite preferring to keep to myself, I don't have issues with folks at work, I try to be understanding. I just fear responsibility and being caught lacking in my knowledge. I'm thinking of going for supervisory position when it's open, preferably with a small team to start with.
@@CosmicErrata I can relate because I think that too! Even today, as I am transiting to an art director role in the company, I do miss my past role of just being the primary artist where most of my work is just pure drawing.
From my own perspective, I also became a manager when the opportunity came (i didn't go looking for it). It wasn't an easy transition but when all is said and done, after the initial 3 months of discomfort, I find that it wasn't as hard as I imagined. So definitely give it a shot, it may surprise you. There is a satisfaction when it comes to managing well also, and the supervisory perspective will probably help with other aspects of your life. Worse come to worst, you just go back to your previous role :)
@@thewokesalaryman Yeah! That should do it. Even now I flip-flop between "What will be will be" and "Oh no oh shit what if I mess up?"
But a little greed is a good pusher, I guess, haha. Though I think I'll be alright.
Yeah, in case it doesn't work, I'll just revert, but my salary ain't fantastic, it's less than 2k after CPF, which is why I'm worried about the future.
I have almost saved my first 10k after 5 an half months, all cash. I made it clear to only save cash because i used to do spending sprees with my debit card online. But at this point it dont feel like im saving anymore, it feels like im just collecting as much as i want. Like i legit be organizing my 5s my 10s and 20 bills man. Theres a point where you like just straight collecting it
Unpopular opinion here! - I feel that if u are earning less than the singapore average salary (~ $4k) Saving is not the most effective way to save 10K. Especially if u have many responsibilities (parents, kids, etc). Having a side income to get to 10K is easier than to save in sg due to the high standard of living. Earn ur side income but dont use it at all. Use ur main income for spending.
it was certainly possible six seven years ago with 2k salary. not possible now with even 4k salary due to property market manipulation. rich people get richer.
thanks for the motivation goh wing chun!
NO WAY! I HAD NO IDEA YOU'RE THE WOKE SALARYMAN GUY!
I've always known you as the Kurt Tay guy HAHAHA
ded 😂
with high interest rate environment now, sgporean can jus throw 1k into t-bill every 2 months or 3 months dependin how much you can save to make sure u don see that money after 6 mths.
your content smash my thoughs buddy! gonna do some deep thinking!
Next goal is 100k. Charlie munger said the first 100k is a bitch.
How do you decide whether the money is worth spending ? Coz we gotta have some kind of entertainment for ourselves right..
Hello TWS Team. I wonder how can I save $10k as my job emergency fund. Upon conversion to Philippine Peso, it will be 575,730 Php., almost half a million. Will this fare applicable for my status as a regular worker?
Understandable and relatable.
SIDE GLANCE GAME - essential skill every man needs to possess
Well done WC! How old were you when you reached your milestone and have you reached 100k or more already?
I was around 28 when I got my first 10k and I hit 100k just after I turned 30!
@@thewokesalaryman thanks for sharing and Im a fan of the podcast and the comics. Looking forward to more TWS content :)
@@thewokesalarymanwooohooo 🎉
@@thewokesalaryman90k in 2 years?! WE NEED A VIDEO ON THAT!!!!!!
@@jiawei0917 agreed 🤝 I'd be interested to hear his 10k to 100k journey
Think 1k can still start a vlogging biz.. buying a cheaper camera and lighting
Save on broker's fee. List your property for free.
love your clean shaven look!
Amazing video. Wish you can do this more
Thanks for sharing bro
Followed you guys on your insta for some years and can't believe I didn't see your RUclips content all this while! Thanks for all the good stuff you guys have shared over the years. Going to be a loyal subscriber here as well!
$10,000K, pls teach me. 🙇♂
dont mind me asking when u start working how much is ur salary and how u save 10k
When I started work after poly my pay was 1.6k/month. When I achieved my first $10k my pay was $6k a month. Hope this helps
Sorry don't mind me, if you don't mind sharing, when you were earning 6k how many % was saved, invested etc
@@thewokesalaryman what advice can u give for those who are paying rent/mortgage to save 10k. were you still living with ur parents then?
@@yrtwo I moved out and was renting by myself since I was 18 years old because I'm from Malaysia haha. I was renting a small condo and split the cost with 3 other housemates, so my rent was around 600-800 then. By the time I reached my 10k I bought a resale with my wife and the mortgage is around 700+ a month.
My advice is the same as what I said, pay yourself first.
There are some lifestyle sacrifices you have to make, but they'll be worth it. It pays to really think about what you can do as hobbies that are affordable/cost efficient. For me I got used to working out at the fitness corner (instead of a gym) and buying my video games only when they were on discount hahaha.
@@rachelchong2862 I didn't budget very precisely back then but it was around 50%. So I gave myself around 2-3k for monthly expenses, and put the rest away. It was very difficult initially because I also had a big uni debt to pay off ($25k), so I was aggressively dumping money into the loan initially to clear it off as fast as I could.
But when I cleared that the 10k came a lot faster! Saving and budgeting helps A LOT but earning power is probably the most powerful thing you can work on. It'll take a while to build and you have to consistently upskill and work hard and market yourself, but having earning power will make all the other aspects of personal finance easier!
Is earning upper 2k too little for someone in late 20s
Does anyone feels sad after watching this?
How to get 20k up to 50k?
It took me years 😂
8:17
Like copying that malaysian finance channel style, but not there yet
I don't know if I'm the minority, but I reached $10k right after NS, without having worked once.
So you can thanked your parents?
Where's the actual proof you saved 10k?
@thewokesalaryman Any advice on how to start on this $10k journey for someone who is in their mid 20s paying for student loan, mortgage and house renovation instalments but earning a below average salary figure that starts with a low $2k at the front
Yes! First off it's not a race. Mid 20s is still young. I got my first 10k only when I was around 28, because I also had all the loans you mentioned!
My peers were all way ahead of me when I was in my 20s and I let it affect me but it actually doesn't matter.
In the short-term work on your spending, be willing to sacrifice some lifestyle bits and take pride in finding cost-efficient ways to have a life and enjoy yourself.
In the long-term, the most important thing you have to do is to work on your earning power. This will be difficult to see immediate results because your earning power is also dependent on many external factors like your company, the industry at large, as well as the global economy. But I believe that over time, your value will shine through if it's there.
@@thewokesalarymanthanks for sharing!! Appreciate the advice and will keep in mind that it’s not a race but rather a personal journey☺️ staying ‘woke’
You probably need to upskill. with your current pay range, are you a dip grad ? I wasn't able to break the 3k range until I got my degree.
i think after 2 years start to consider to change job, i assumed you are doing office work related and market will be more kind to mid 20s with some exp rather than freshies.
so I should pursue a degree even when I am uncertain about my career interest... I seek for your advice. I am currently in my last year in SP studying marine engineering. Thank you.@@arsenal_84
this is really like financial therapy!!!🥹