By email@example.com (Singapore Man of Leisure)
In my family, I am considered the “frugal” one.
During my early days, I had to be careful with money due to low pay.
At 16, I was earning $450 per month. Minus away 25% CPF contribution, and after giving mom 1/2 of my take home pay, there isn’t much left, is there?
Yes, that was the “glorious” days of 25% employee and 25% employer contributions to CPF. Those who love voluntary CPF contributions now must be foaming at the mouths now…
CPF contributions are great for those who earn more. I remember there were quite a few desparate workers at that time who “colluded” with their employers not to declare CPF.
The worker get 100% of their take home pay; while their employer “saved” on the 25% not contributed to CPF. (Don’t follow OK? It’s illegal)
Of course those of you who earned more will cry stupid!
Well, what do you think of those who don’t earn more but voluntarily contribute to CPF today?
Back to my small means.
I remember there was a time where I will let aircon busses pass so I can take the next non-aircon bus – just to save that few cents…
And lunch at Orchard Road not cheap. Fast food …read more
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