Case Study - South East Asian Couple

[brownstone]

Reader Case Study - Any Suggestion on how to increase our badassity

Life Situation:
Me and my wife (30 yo and 28 yo respectively) are living in Indonesia.
After I get my bachelor degree, I work for my family business, that was in 2009. After 2 years, the business collapse due to partnership problem. So me and my father started a whole new business. My income was purely the salary I get from working with my father.
Until 2014, when I got married, I stop getting salary from my father by choice, and started my own little business (a B2B service), but I still help with my family business, but not tied to the rigid schedule of 9-5 worker, which I currently had previously. The flexible working hours is what I after.
The nature of the business still require me to be involved, together with my father and my sibling.
Although I'm not paid in monthly salary, but I get the benefit of living in one of my parents house, yearly insurance coverage, and daily home cooked meal.
My wife work for her father as well. They have their own family business, and she is getting salary from there.
In short our income comes from my business income and her salary. Our benefits include insurance, car and house.

And my wife is in the middle of pregnancy due mid of this year, firstborn.

FINANCIAL SITUATION ( ALL CONVERTED TO USD )
Cash                          11,500
Investment (5% after tax annual rate) 3,700
      
Annual Income      
Combined After Tax    12,444

Monthly Expense      
Internet                           31
Mobile Phone                     30
Car Fuel                           44
Electricity & Water           37
Church Contribution          104
Laundry                           15
2 Packs of Organic Coffee     6
2 Packs of Enema Bag      6
Guitar String                    6
Groceries:      
120 Eggs (2 eggs daily per person)   22
Organic Brown Rice                          12
Fruits                                           7
Almonds,cashew,mixed nuts          15
Organic Noodle                                   7
Fish/Chicken/Beef                          89
Braggs Apple Cider (1 bottle / 3 months) 3
Various Kitchen  Ingredients            11
TOTAL MONTHLY EXPENSE   445

Annual Expense   5,340
Annual Saving : 7,104

I have another partnership B2B Truck Rental Business:
Average after tax annual income : 14,800
Business Debt(Owe to my father and another relative) : 28,000
In 2 years time this business will be debt free and provide little additional income.

Extra notes:
The income and expense number are relatively low in my country compared to western nation. The average fresh graduate annual salary is $3000.

QUESTION TO MUSTACHIANS:
The things I like about my current lifestyle is the time flexibility I have time to work on my passion in music (Currently working on my own guitar instrumental album, almost finished. Also perform here and there, aside from playing weekly at church). I have time to work out a lot and do sports.
What I don't like is my relatively low income and the fact that we get huge benefit in car,house and insurance from our family.
I try to justify myself for the benefit we get so far by thinking that:
1. I started the new family business and do most of the work.
2. Now I continue to work for my family business without salary to compensate the benefit I get.

Aside from that, it's a culture here that me as the eldest in the family to continue my father's business.
So every one in the family question my choice to start my own business.
I can't totally abandon the family business because my relatively low income though.
What are your thoughts on my position? Am I entitled bastard who leech from my family?

[Adventine]

Welcome to the forums! I'm from the Philippines but I understand the pressure to conform to the family's wishes, even if you really want to create an independent life and identity that is separate from them.

I, an Internet stranger, would never call you an "entitled bastard." I think you really need to ask yourself why you would describe yourself in that way. Is it guilt on your part? Is it something that some family members have accused you of being?

Whatever the reason, it isn't a good way to think about yourself.

Is there no way you can continue with the family business, since it seems to provide the bulk of your income, and run your own personal business at the same time?

[brownstone]

Welcome to the forums! I'm from the Philippines but I understand the pressure to conform to the family's wishes, even if you really want to create an independent life and identity that is separate from them.

I, an Internet stranger, would never call you an "entitled bastard." I think you really need to ask yourself why you would describe yourself in that way. Is it guilt on your part? Is it something that some family members have accused you of being?

Whatever the reason, it isn't a good way to think about yourself.

Is there no way you can continue with the family business, since it seems to provide the bulk of your income, and run your own personal business at the same time?

A little bit of guilt maybe,  also I should go easy on the profanity lol.
and no there isn't family member accusing me anything,  relationship with family is all good.

I can continue my family business and run my current business.  In fact that's what I'm doing right now. 
It's just that I don't take any salary.  So basically I work for free,  as a compensation that I live in a house provided by my parents,  insurance and car as well, that's what I told myself.
They don't require me to do so, though.  I can basically just run my own business and do nothing with the family business,  but I don't feel right,  it feels like being a free rider.
So I help with the family business but not tied to its rigid schedule(as compared to my sister who work and get salary,  she is tied to the 9-5 schedule). 

[Poundwise]

A few questions:

Which makes more money per hour: your business or your father's business? What are the differences in risk/expected growth of each business?

Also, could you explain some of the line items? Are they repeating every week/month?
Church Contribution          104
2 Packs of Enema Bag      6

It seems to me that if you have time to work out and play sports, you could cut down on those a little and still fulfill the obligations of your two jobs.  I do think that if you are going to quit working for your father in favor of growing your own business, you must begin to pay him for rent, insurance, and food.

[brownstone]

A few questions:

Which makes more money per hour: your business or your father's business? What are the differences in risk/expected growth of each business?

Also, could you explain some of the line items? Are they repeating every week/month?
Church Contribution          104
2 Packs of Enema Bag      6

It seems to me that if you have time to work out and play sports, you could cut down on those a little and still fulfill the obligations of your two jobs.  I do think that if you are going to quit working for your father in favor of growing your own business, you must begin to pay him for rent, insurance, and food.

1. My father's business definitely make more money, as it is bigger in size.
2.Those two items are monthly
3. Currently I helped my father's business and still do my current business, and still have those free time, because I dont get involved a lot in day to day business process.
Yes If I completely not involved in the family business I should pay rent(even though my family wont accept payment). That's why it makes sense right now to still contribute  to the family business.

[Padonak]

I am also originally from a poor country (not Indonesia, though I've been to Indonesia).

My understanding is that your combined income is over 1K per month after tax (excluding the truck rental business income which you use to pay off debt, so you don't count it towards total income).

I would say you are doing pretty well and seem to have your finances in order. I don't know much about interest rates on savings accounts and other investment opportunities in your country, so I'm not in a position to give specific advice. However, it may be worth putting some more money in savings accounts if the interest rate is relatively high and you have enough cash for emergencies. Also, if you can easily withdraw for emergencies from a savings account even if you lose the interest, you can consider it part of your emergency fund and keep more money in it (assuming the bank is relatively safe and/or deposits are insured by the government).

As a general rule, in lower income countries more people tend to run their own businesses, because salaries are lower than in the West, but business opportunities may be better if you know what your are doing. Based on that, I would continue focusing on running own business and/or father's business and trying to expand it within reason.

Best or luck.