Let me do some simple calculation:
Family monthly income = RM12,000
EPF = -RM1,100
PCB = -RM1,200
Housing loan = -RM3,300
(RM700k for double storey terrace house, 10% DP, 20yrs repayment, BLR-4.2%)
Monthly housing expenses (grocery) = -RM1,200
Monthly petrol, toll, meal = -RM650
Unifi, mobile postpaid = -RM250
Electricity and water = -RM250
For 2 kids (school fees, bus & others) = -RM500
(if they are babies, we need spend much more than RM500 for their milk podwer and pampers)
entertaiment/ shopping - 1 in a month =-RM200
Life insurance (ourselves and kids), average per month = -RM500
Average monthly car maintenance (2 cars) = -RM200
Average monthly car insurance (2 cars) = -RM150
How much left over? Answer is RM2500.
RM2500 is only 20% of RM12000.
Of course, RM2500 is enough to pay installment for 2 cars. But you can not afford to have nice cars.
Do not forget that there is always many unforeseen expenses every month.
Do not forget that we need to save money for emergency for education fund for kids.
cause some ppl earn only 2,200