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Cryotosensei
04 Mar 2023
Blogger at diaperfinancingfund.blogspot.com
Just get started. Making the maximum voluntary contribution of $7k to your CPF SA account is a good start since you not only reduce your taxable income, but also earn an easy 4%. Once you hit your FRS, you will have gained more knowledge about money to determine if you want to reach ERS asap or invest in instruments that are non-CPF.
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Clarence Chua
24 Apr 2019
Financial Planning Specialist at Prudential Assurance Singapore
Hey don’t worry!
Most people start out similar to you too.
Are you studying now or working?
If you are still studying, I say focus on your studies and slowly build up your knowledge in finance. Don’t rush it and don’t let your dollar amount in the bank dejects you.
If you are working, then let me KISS it for you (Keep It Simple and Stupid)
Just 3 pointers. Keeping it simple for you. 👍🏻
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Sounds like this is a case of having parents who did all the forward-planning for you! Or at least that's what I am a product of, and only after graduating did I start giving more thought to my finances and planning for my future after a family member got diagnosed with critical illness.
All the other answers here are extremely valuable and definitely point you in the right direction.
An actionable way to get started about your finances (not even talking about more complex topics like insurance and investments) is to first MANAGE YOUR MONEY.
Can't stress this enough, because often times we're spending money we don't know if we have. But a good budgeting habit (it involves no more than 5-10 mins of your day) can set a strong foundation for more to come.
You can try out the Seedly app :)
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John Smiths
19 Apr 2019
Tax at Local bank in Singapore
If you have no viable skill sets to start a business, your first step is to find a job with a decent...
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