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Anonymous
26, no debt and no savings. What can I do to fast track?
Worked a couple of years (career switch, figuring out myself) hence my income have always been just enough for my expenses. Feeling concerned and ashamed by my financial situation.
I've started to earn more and stabilise so Im starting to save and invest now. Im looking to buy a property with my partner in 1-2 years time but can't bring myself to mention that I have $0 savings as Im embarrassed by it.
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It is alright to have some careers switch and figure yourself when you are young rather than you are old. It's a good start that you have no debt. Good that you have goals to buy a property in 1-2 years time so that will drive you to work harder. And that you are starting to save and invest now. Being 26 young and having the awareness to start your financial journey is awesome! Things are looking good.
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You can make a down payment with your cpf. You should have a decent OA sum of money after working for a few years.
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Don't fast-track. have savings up to 6 months at least as you don't know what will hit you
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26 is still really young to be honest. Good thing is that you have no debt and a clean slate to star...
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There is nothing to be embarassed about your current situtation. What is important is that you recognise your current position and wants to change. When I started out at your age, my mantra was "spend less, save more, invest wisely and contribute to charity". Also, to "increase my income". I did some other sideline work while maintaining my day job. Enjoy the journey. Hope your partner shares the same value as you and both of you can journey together towards financial independence.