I talk to my Dad sometimes about financial stuff. For fun, I asked what amount people my age should be earning to be considered ‘doing financially well’. In short, what figure is a ‘good income’.
He said RM10-15k a month for single people, and people who have families need more. What.
I nodded to look cool but inside I’m like, “wtf Dad got meh people pay that much nowadays??” followed by internal screaming and slight pangs of depression over my actual income right now. For the record, I’m earning ok as a freelance writer. I’m just not pulling 5 figures (yet!)
To him, this is not even a luxury lifestyle, just a normal life without stressing over money. And maybe a trip or two a year. And covered in insurance. You know, a comfortable amount.
At first I was annoyed by my Dad’s figure, but then I started calculating my ideal income amount per month. For me, it would probably be… RM20k a month? If I earn more than that I won’t know what to do with it tbh.
Breakdown: RM2.5k for accommodation (includes bills, the fastest internet, insurance, damn nice mattress, occasional cleaning service, fixes if something ever goes wrong etc), RM5k for monthly savings, RM3k to add to a car fund (I like the idea of paying my car in full, no interest), RM2k towards travel fund, RM1k to be fully protected with insurance, RM3k for parents, RM1.5k to just donate or give as presents, RM1k for food and going out, and another RM1k for just whatever else I need (toothpaste and stuff).
But I’m also comfortable at what I’m earning now, so idk, it’s very hard to say. I’m grateful with my income but at the same time a part of me is like, dammit Suraya why are you not earning more?? Its a very dangerous thought.
How much do you guys think a mid-20s professional in Kuala Lumpur should be earning? Note that I say ‘should be earning’, not is actually earning. All of us wants to earn as much as possible, but if you have to give a number to that, what would it be?
I’d love to hear your own amount, and your breakdown. Comment here, on FB, or on Twitter okay!