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The original was posted on /r/finansial by /u/SigmarUnberogen on 2023-07-28 14:54:04.
Hi! I (23M) am currently stuck in a bit of a rut. Let me try to explain in several sections.
I. Background First of all, I am the first children with a little sister in the family, the family is broken home and the dad is pretty much out of the picture. My mom and I have a testy relationship and it got the point that I decided to rent a room in one of the subdivided areas of the old family home that she owns. (The family home was my grandma and when she died it was subdivided amongst her children’s, my mom bought out my uncle so she owns 2 out of the 3 plots). My mom still currently works and she handles all of the bills except for the payment on my uncle’s plot which I paid for her as my rent.
I am currently still attending college, and in fact I’m moving to UT soon because of an academic issue in my previous uni. My previous uni was the big yellow one in Depok and I managed to gain a lot of valuable connections there. But I digress, my mom will still be paying for my degree but I’ve decided to move to UT because it’ll allow me a lot more flexibility to work. In fact I am currently in an internship until February.
All this to say that I have been an extremely blessed with a family that while I can’t exactly live together with lest we quarrel, my mother is still extremely supportive of me. I am also blessed with the fact that I managed to build up valuable reputation and connection in my (going to be) former uni that has certainly opened doors in my work.
II. The current situation
As I’ve explained previously, currently I am doing an internship while also arranging for my Uni transfer. The internship is 9-5 at an MNC in Jakarta, the pay is quite good and the work environment is also pleasant enough. I am also currently teaching a variant of English debate to several schools and individuals and I also make good money from there. Though of course by nature it is less steady compared to my internship.
This is the first time I can see an actual floor to my income and it has allowed me some time to ruminate on my circumstances. But before I do that I think it’s best to explain my current income and expenses so that it can perhaps help contextualise it all.
Rough monthly income Internship: 3.750.000 (should be 4 mil but prorated due to the holiday)
Teaching at school A: 800.000 (400k per session X 2 session for this month)
Teaching at school B: 1.350.000 (450k per session X 3 session for this month, this one is only here because the school is sending a delegation internationally and they needed an extra coach so I wouldn’t say this is a fixed part of my income)
Teaching privately: 3.3 - 5 million per month (4-8 session per month + 150k transport fee per offline coaching)
Other miscellaneous income ( chairing conferences, odd jobs etc): 1 million
Rough monthly income: 10-12 million per month (this is on the very high end of the typical month and keep in mind this is the very first month of my internship aswell so my income may seem unnaturally high)
Fixed Expenses Rent: 1 Million Electricity: 405k Phone: 50k Laundry: 200k Workday expenses: 1 Million Weekend expenses: 1 Million Transjakarta: 200k Clash of Clans: 109k
Incidental expenses Clothes: 1 Million (new clothes and shoes for internship) Gym : 1.2 Million for 3 months Friends: 130k Self-Care: 720k
Rough Expenses: 7 mil
Remaining funds is split 30-70 to my emergency fund and to repay a 0% loan for a competition I attended over the past year. The debt is 12 mil and so far I’ve amassed 4 mil
Emergency fund: 1 million (yep I need to enlarge it by a lot more.)
So that’s my rough financial situation, it’s very far from the worst but there are several things of potential concern.
III. The questions
First of all, I feel awful that I failed in my original college to the level that I have to move. But is it wise to work at the same time I’m going to college? Jujur takutnya keteteran.
Secondly, I don’t want to be a sandwich generation but I likely will be, what’s the best option I have to prepare for that eventuality?
Thirdly, Am I frugal enough? I am always scared that I’m not saving enough and that I’m spending too much.
Thanks everyone, looking forward to your insights!