Hi there, As your income grows, tax payments will become higher with respect to your income earned. Starting early at age 26, is a good step to getting your finances in order. As you are currently receiving employed income, you will not qualify for deductions on your insurance policies. The most immediate steps you can take to reduce your taxable amount, and to maximize your monies, is to do voluntary CPF contributions to yourself. Namely, the retirement sum top up (RSTU), which gives you a guaranteed 4% p.a. in your SA. Alternatively, you can start considering making contributions to your SRS accounts. However the monies in this account would need to be invested out, as the crediting rate is 0.05% by default. There is a possibility of higher returns, depending on your choice of investment. In both cases, choosing an option can reduce your tax burden by 50%, so the choice at the end of the day would be which suits you better. Hope i was able to shed some insight, if you need more information do feel free to reach out!