How do I start building my emergency funds if I have commitment in life like kids and the usual expenses?

Quoting your reply to YJ: "You're earning gross annual of S$110k excludes variable bonus"
Tbh, i think this amount is not small. Congrats on your ability to earn high income.
You will probably need to list all your expenses & categorise them into needs, wants & luxury. From there, see if you can do without a few or downgrade the brands.
(Personal opinion: A sustainable lifestyle is the best lifestyle one can have!)
If you still can't do these, then you probably need to find alternate source for more income. & that amount should go into savings as your emergency fund.

Hi! When I started out, I saw this equation somewhere that really changed the way I thought about savings.

Usual thought process: Income - Expenses = Savings

New though process:
Income - Savings = Expenses

Mathematically, it’s the same but there is a huge difference. The second equation forces you to save first. In other words, pay yourself first.

Now the money that you have left over, budget it out and spend without any guilt.

I understand in certain cases, fixed expenses may be too high because of things outside of our control. In order to understand that, you need to know where you are spending your money and pick areas to cut.

In either case, put money away for savings first before you start to spend your pay cheque.

Financial well being is all about discipline.

Start slow. You will definitely have a few hundred lying around after the end of each month. Put it in a separate savings account and leave it be. Also, develop a habit of tracking your expenses. From there, you can assess and evaluate what you can cut down on to put more into your emergency funds. You might be shocked to know how much you are spending on certain categories!

I note from your reply to YJ that you earn a decent salary by your assessment.

If this is so, scrutinise your last 3-6 months of expenses to determine what is spent that is not really improving your quality of life or serving you well. No self-shaming, just objective appraisal of your money outflow. Then cut off those unnecessary expenses.

At the same time, when you receive your salary, set up a standing instruction for a transfer of a small amount to another account for savings. Keep the amount small and sustainable first. If later on you find that you can maintain it or even increase the savings, carry on.

In this way you automate your savings and take the mental burden off yourself.

Having kids not easy, expenses will be high. Some of us want to give our kids the best also. I know a friend who sends his girl to the best school even though he's practically living from paycheck to paycheck to do that. I used to think why he spend so much money to send her to good school. But to him, his daughter is number one priority, and his money decisions reflect that. So don't self-shame.