How do I know how much savings or investing is enough?

TFS and Chris have provided excellent practical tips for you.

Let me offer you the philosophical side of it: https://seedly.sg/opinions/financial-freedom-is...

Hi Anon,

Honestly, you're in good shape! But I guess I understand where you're coming from. You don't know what you don't know, and when it comes to money, can you really have enough?

Just to add on to what Chris has mentioned, think of it this way:

You're getting your finances on track for a better future. But at the same time, it's important not to forget that you only have the present. You'll never know what will happen in life, and if you restrict yourself too much in the present, you may regret it in future if you're no longer able to enjoy the same things.

Ie if you're thinking of going on a road trip, it may be expensive and slow down your financial plans. But if you wait too long until you're able to afford it comfortably, you may not be able to enjoy it as much - you may have other priorities like kids, or you may find it too tiring to drive long distances.

And touch wood, if anything were to happen to you in future, would you regret not doing some of the things in the past when you were younger and able to?

Sorry for making things look grim, but what I'm trying to say is that while it's important to plan for the future, the present is equally important, so don't hold yourself back from too much.

Understand how much you can afford to spend on enjoyment and entertainment, and evaluate how much you will cherish or enjoy that experience/purchase. That way, you don't have to feel so guilty about spending money :)

Hope this helps and happy cny!

Regards,
thefrugalstudent