My husband’s and my mixed month-to-month earnings after taxes is round VND90 million (US$3,668), however there are months after we can not 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 helpful household time and weren’t impacted by the Covid-19 pandemic.
Each month, we allocate VND15 million to our mother and father, VND16 million for our youngsters’s personal faculty 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 dwelling mortgage, we usually save VND20-30 million a month, although typically sudden bills like visiting our hometowns or buying digital units depleted these financial savings.
Having lately paid off our VND1 billion dwelling mortgage, changing into debt-free prompts me to contemplate 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 decisions for our youngsters amidst financial uncertainties.
Given our scenario and the dwelling 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, can be drastically appreciated.