The emergency fund, sized honestly
Farah explains how to size an emergency fund for your actual life, including dependants and irregular costs, and why six months of expenses is the wrong target for most people.
Sending money home without going broke
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Show notes
Sending money home without going broke
Supporting parents and siblings is a fact of life for many listeners, and it is rarely discussed in money advice written elsewhere. Farah answers a listener in Singapore who sends half her pay to Penang and cannot save a cent.
- Why love and a spreadsheet are not enemies
- Setting a percentage you can keep for years, not a heroic one you abandon
- How to talk to parents about a fixed amount without shame
- Insurance for parents as a cheaper form of support
- Keeping something for yourself so you can keep giving
If this is your situation, you are not alone. Write in and tell Farah how you handle it.
Transcript
Welcome back to Rent, Rice and Rainy Days. I am Farah Zulkifli, and this week's question is one I hear in my office more than any other, though almost nobody writes about it. A listener working in Singapore sends half of every paycheque to her family in Penang. She loves them, she is proud to do it, and she has not saved anything in four years. If that sounds familiar, this episode is for you. We will work out an amount you can sustain for a decade instead of one you resent by December, look at insurance as a quieter way to support ageing parents, and talk about how to have that conversation at the dinner table without anybody feeling judged. It is a gentle episode, but there is maths in it. You are listening on Witspeak Podcasts.
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