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Anonymous
For context I dont have a high salary, no commitments. I'm feeling very unmotivated and slow in the financial journey.
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Just monitor ... it will be slow at the start...but dont give up
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If you are thrifty and doing your best to save, then you're doing a good job already. If you have spare time then use the time to earn more income since there is somehow a limit to how much you can save.
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I would say I didn't save much in my first 3 years of working. First because of lower starting pay, and also splurging it on things to enjoy the high of finally getting things from your hard work.
Then as I realise why I didn't save, then I cut down on spending and save a portion of my salary. With higher salaries and bonus subsequently, I saved to $100k in around 6-7 years (with some setbacks like buying a car and occassional travelling).
It's not realistic to not spend a cent and reach $100k immediately acter work. Take your time and enjoy the journey of spending on things that you need or want, and also save the remainder, and the journey to $100k will be less painful.
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My debt is more than my saving......
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Took me 5 years or so, i stay with my parents and no commitment
with a salary of 3k or 2.4k after CPF
invest and dollar cost average through out the 5 years
I quite thrifty, with about 1.1-1.4k in spending setting aside of 1k a month toward investing.
spending includes food, transport, insurance, bills as well as parents allowance.
within the first year, I have saved enough for 6 months of emergency funds(8+k)
so I not as worried to save more, my goal is to put more into investment every year.
With increasing salary every year, I have an increment in my investing journey putting about 100-200 more every year. Assuming every year that I will get another 6-10% return I manage to hit my goal within 5 years.
Assuming you have the same situation as me, it fine, just automate your investment and budgeting and I think you will be good to go