How do you split your salary? How would you advise based on my expense.

Hi, I am a 26 yr old adult graduated last year and soon to secure a full time job(finally thanks to covid). So I am planning in advance on how i should split my salary and save. I currently have these few criteria:
-Savings
-Insurance & ILP
-Expenses
-Play & DIY investing

I am currently on a traineeship so salary would be higher after I move on to my new job. One additional criterion would be money for my parents. Take for example a starting salary for fresh grads is 3.4k. How would yall suggest I split based on these 5 criteria? Would like to hear your personal experiences. Thank you!

Yo, only you are able to answer that question as different people will have different situation. General rules cant apply to everybody.

1) u must know your Fix cost, eg, transport , parent allowance , food, student loan etc.

2) budget for your entertainment

3) your financial goal + timeline

Below is how i will calculate, you have to calculate yourself.

i exclude insurance as i not sure how much u gonna pay for it, but u can park it under expense. I.e. Dont buy ILP please.

$3400 after CPF deduction, take home =$2720

1) Basic need (Normal 22 working days)

Transport to & fro workplace: $6 per day ($132 per mth)

Lunch + teabreak: $10 per day ($220 per mth)

Dinner Outside= $7.50, assume 11 days ($82.50 per mth)

2) Weekend entertianment (8 days)

Public Transport (occasional grab x4) = (12x $6) + (4x $20) = $152 per mth

Play + food= $300 Per month?

3) Fix expense

parent = $500?

Any student loan?

You left with ~$1830 per mth

You are 26 years old, i would assume u have around $30k to $40k min. of saving by now?

Assume your financial goal (saving goal) is to achieve $50k of saving by 28 years old.

To be conservative, i use $30k. Thus you have to save another $20k

$20k / 24 mth~ $830 to be saved per mth.

Thus you left with $1000 to invest.

So it will be (base on $2720) roughly= 34% expense / 30% saving / 36% invest

Assume u dont do any moon-lighting to increase income. You can only cut your entertainment budget to put in saving or investing.

After you achieved you saving goal of $50k. Next step is to fulfil your investment goal.

target amount.
timeline
identify the instrument that can help to get there.

At this stage, assume your lifestyle remain unchange.

34% expense / 5 to 10% saving / 56% to 61% invest

I would say at different life stage our financial priority will be different, we have to adjust accordingly.