facebookHow does a 25 year old save and invest? I am currently only earning about 3.5k and my bf and i recently managed to secure a BTO successfully.? - Seedly

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Anonymous

13 Jul 2019

βˆ™

General Investing

How does a 25 year old save and invest? I am currently only earning about 3.5k and my bf and i recently managed to secure a BTO successfully.?

However, our monthly repayment is pretty high (approx $2.5k per month). My take home is only $2700. And my bf and I are most likely going to split the repayment which means i would be paying $1.25k per month and that leaves me with $1.5k per month. Minusing my expenses, i would be left would $800 per month.. how do i invest with $800 only? Not to mention i need to save a portion of the $800 for rainy days.... Advices pls :(

Discussion (10)

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Start small first, 100 per month into DCA ETF is stilll good

Jefremy Juari

13 Jul 2019

Financial Writer at Medina Books

One has to know what is an asset and a liability. A house that you are living in is a liability, no matter how expensive or how much potential for profit, etc.
The prices in hdb resale market is going down with the massive number of new btos popping up.
Our generation will never see the profits like our parents did. We have to work smarter and be proactive in looking for new opportunities while accepting the hard truth that we have it worse. Looks like you have to bite the bullet and burn the deposit. The numbers you wrote don't make sense.
Remember an owner occupied house is not an asset, it drains money from your pocket. Best of luck.

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Hi,

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