11 Jun 2007 | Comments | Wealth Management | Comments feed

How Much a Typical Fresh Grad Spend?

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Living in Malaysia, it is not really a great future ahead for a fresh grad. Too much commitment and needs, but too few money to spend. This is the truth! Before I tell you how much a typical fresh grad have to spend in Malaysia, let’s see what’s happening in United States.

I read Ramit’s recent article. He stated that a girl working for Google spends $1,200/month on rent, $1,000/month recreation (going out, vacation, Christmas gifts), $500 month misc (gas, unexpected medical, travel). As you can see, this is a really rough estimate that adds up to $32,400/year.

Now take a look at the expenditure of a typical Malaysian fresh grad engineer: (take note that US$1= RM3.40)
Rental of a small room - RM200/month
Recreation, entertainment, vacation - RM500/month
Car installment (MyVi or Waja) - RM800/month
Tolls and petrol - RM500/month
Food and meal - RM500/month
Total = RM2500/month
Sadly, the starting pay is also around RM2500/month. You will probably ask why he has to spend more than half of his earning for transportation alone?! Only Malaysian will know

That’s why I said it is so crucial to get your first car free!

Technorati Tags: rental, car installment, free car, fresh grad

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