financial protocol of a working adult

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today marks an important milestone in my life as i embark on my journey to become a working adult! i had an appointment to head down to sign my pre-reg contract and seal the deal for 40 weeks starting 11 June 2012.

am i excited to be finally done with school in a little while? YES and no..

but perhaps only the missing parts where i get to pon school, or hang out with friends, or have only 2 hours of lessons per day, or being able to sit down for the most part of it.

ok looks like i am going to take some time to get used to working life, though first up on my list is to get a pair of comfortable shoes. why is it that medical doctors in the US get to wear sneakers and scrubs all day long?! pharmacists should get to wear that too man.

it also occurred to me today that i’d finally be able to earn my own keep and be one hundred percent financially independent. which then begs the question of how i am going to start learning and adapting to all the new financial responsibilities that will now be thrust upon me fully.

1. How much of your salary do you actually need to give your parents?

i’m sure your parents never tagged your allowance as a proportion of their earnings (if not i’d be getting way more than the measly $30 a week in JC -.-). but when one starts out with a low starting pay  (a pre-reg pharmacist’s monthly pay is $1700), is it feasible to be showing financial appreciation to your parents with just $100 each per month?

if so, when coming home from work, is it still acceptable to ask your parents to get/cook dinner for you, knowing that they’re not going to have much left to save after spending that $100 on supplying meals for you? or should you be getting your own dinner, or even better, buying dinner for the whole family occasionally?

2. Special Occasions

despite being single, a working adult has to fork out money to give angpaos to their elders, which would include parents and grandparents. is that tagged along with your monthly income as well? do you give more/less/equal value than what you’d expect your parents’ and grandparents’ angpaos to contain?

3. Friends and significant other

how much is an acceptable first-pay treat per friend for your close friends? a treat equivalent to a hawker meal of $5 per head with 1 drink included, or a treat at crystal jade where everyone orders the cheapest bowl of ban mian and drinks ice water hahaha.

perhaps a meal treat tagged along to a lowly pre-reg pay would equate to restaurant food….at Macdonalds.

with your significant other, do you now need to pick up the tab of the meal more often? or give them presents of a higher value, without expecting an equally expensive present in return.

4. Savings

assuming one is to settle down some time within the next 10 years and start a family, how much do you need to (or have left to) save after assuming all the new financial responsibilities that a Confucianism culture requires you to adopt?

nooooo!! now i don’t want to grow up!

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