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My husband’s and my mixed month-to-month revenue after taxes is round VND90 million (US$3,668), however there are months after we can’t save a cent.
Each my husband and I are 29, married for seven years, and have two sons in kindergarten. As engineers, our jobs present us with beneficial household time and weren’t impacted by the Covid-19 pandemic.
Each month, we allocate VND15 million to our dad and mom, VND16 million for our youngsters’s personal college charges, and VND2 million for utilities and administration charges, with the rest for financial savings, different bills, and mortgage repayments. As we needed to pay our house mortgage, we usually save VND20-30 million a month, although typically surprising bills like visiting our hometowns or buying digital units depleted these financial savings.
Having just lately paid off our VND1 billion house mortgage, changing into debt-free prompts me to think about higher financial savings methods, particularly given our lack of economic experience and our way of life. We take pleasure in eating out and leisure actions, make use of a part-time maid, and are considering a automotive buy and academic selections for our youngsters amidst financial uncertainties.
Given our state of affairs and the residing prices in Hanoi, how can we greatest handle our funds for our household of 4?
Recommendation on balancing financial savings, bills, and investments in belongings like a automotive, alongside selecting between personal and public education, could be tremendously appreciated.