SINGAPORE: Saving S$100,000 by the age of 30 sounds impressive in theory, but for many Singaporeans juggling rent, bills, and the occasional overpriced cai png, it feels more like a fantasy than a financial milestone.
Recently, a Singaporean went on Reddit to find out how others have actually managed to hit that number, as he hasn’t had much luck achieving it himself.
In his post, he admitted that even after working for three years, his savings have barely reached S$10,000 because, as he put it, his expenses “always seem to catch up with him.”
“I’m curious how you guys manage your daily spending to hit SGD 100k by 30?” he wrote on the r/askSingapore forum on Monday (Oct 13). “Do you often use discounts or sales? What do you usually eat — takeout or home-cooked meals? Do you drink alcohol or coffee? Smoke? Any everyday money-saving tips you can share?”
“The trick isn’t to save more; it’s to earn more.”
In the comments section of the post, many told the man that only a small number of people actually manage to hit that goal, and those who do usually have a head start in life.
According to them, these individuals are often born into privilege, have investments in stocks, or have struck it big in crypto.
As an example, one Redditor shared, “One of my (used to be) good friends has over S$100k by 28 and is often showing her bank balance and giving financial tips on IG/TT/Lemonade like eating at home more, not spending unnecessarily, invest in stock markets etc…while conveniently leaving out that her parents have been giving her S$2k a month in allowance and S$10k every birthday since she was 18.”
Another chimed in, “At that age, except for the top percentage elite, anyone who saves that much is likely because of their parents.”
A third wrote, “Don’t compare…some of them are getting money from parents. Others have part-time jobs and side gigs.”
Still, not everyone was cynical. Some users said that reaching S$100K by 30 isn’t entirely impossible.
To help the man reach this goal, several users shared their own money-saving strategies.
One advised, “Transfer your money to long-term investments or lock it away in a separate bank account the instant you receive your paycheck, before you start spending. Simply having less money available to spend makes you think through everything you buy. Also, not smoking and drinking, and cooking your own meals definitely helps.”
Another commented, “Another important thing: Once you start making money, don’t tell anyone — including most family members, friends, and coworkers — how much you make or how much you’ve saved.”
A third added, “Bruh, the trick isn’t to save more; it’s to earn more and avoid lifestyle inflation. That’s it, there’s no secret.”
In other news, a woman recently sparked discussion on social media after claiming that fathers in high-paying, demanding professions—such as doctors, lawyers, management consultants, and IT specialists—earning more than S$20,000 a month often struggle to maintain a normal family life.
According to her, these men rarely have time for a proper dinner or meaningful interactions with their loved ones.
