facebookI am at my mid 20s, I am confused with little savings, minimal knowledge about money. May I know how to start to build a solid finance foundation and hopefully become financially free one day. ? - Seedly
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Anonymous

24 Apr 2019

I am at my mid 20s, I am confused with little savings, minimal knowledge about money. May I know how to start to build a solid finance foundation and hopefully become financially free one day. ?

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    Discussion (7)

    What are your thoughts?

    Clarence Chua

    Clarence Chua

    24 Apr 2019

    Level 10·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)

    1. Protect your future and Pay yourself first (get your insurances and set aside a % of your salary for your future)
    2. Focus on increasing your income (be it through your work or other platforms, basically invest in yourself)
    3. Diversify and grow your portfolio. (Get your money working harder for you!)

    Just 3 pointers. Keeping it simple for you. 👍🏻

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      John Smiths

      John Smiths

      19 Apr 2019

      Level 5·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 salary income. Then learn how to structure and budget for your spending, saving and investing on things like credit cards, bank accounts and expense management. This will allow you to start building up your basic financial skills.

      Before you even start thinking about how to build passive income such as interest and dividend, you first need active income. Don't think so far ahead about being financially free when you have yet to take the first step. Be patient.

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        Teo See Hwa

        Teo See Hwa

        17 Apr 2019

        Level 6·MArketing Associate at Propnex

        Use what you are given first.

        All SC are given two chance to buy BTO, lose this will set you back ...

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