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Anonymous

06 Jul 2024

βˆ™

Adulting

How to determine saving amount when I already have some $ in my bank account

Question:

    - How do I determine how much to save per month for emergency and education goal if:

1 I already some money in my bank account (am saver and $ just go into bank account, but allocating these things to be intentional with my spending)

2 I have target amounts (based off 12 months of salary to be sure; estimated tuition fee posted on uni site)

3 Would like to reach target amounts in 1 year

4 Following 50-30-20, I already maxed out the 20% on my endowment plans alone

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Some info:

  • Late 20s F, not in relationship and not sure when that's going to happen
  • Currently preparing to allocate amounts for emergency and education (thinking of going to uni)
  • Working but thinking of resigning and going to uni
  • Insurance is in place
  • Beginner investor with small amount

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