I’m 23, just started my first job, with a salary (after cpf) around $3000, how should I budget my monthly expenditure?

You may take a look at this http://sgbeyourownboss.com/budgeting-monthly-ex....

I usually split my expenses into 6 categories. But before you start budgeting, you need have a rough idea where your money spent everyday. So I would suggest you take 2-3 months to track your daily expenses. With that, you know every month what you need to spend, how much you need to spend, and how much you can save.

After Bill ($2400),

​

Just as a guide for you, I'm currently budgeting $1000 for all my variable expenses, food, transport and entertainment. Its a really comfortable amount considering that I live alone, so all 3 meals are on me. If you are stay at home with parents, should be able to drop down to $600 per month (I'm being really generous here)

​

You can budget the rest for insurance, emergency fund, parent's allowance, and maybe some for holiday.

Take note that you'll need to pay income tax soon, so allow for that amount to be deducted from your budget, assuming no increment (touch wood).

Hi, is it convenient to share what's your medical condition with a $500 medical bill per month? You can private contact me for confidentiality.

​

Per your question above, basically, have three bank accounts first,

​

first account is for incoming salary + expenses

​

second account is for general savings - to develop a habit to save

​

third account is for emergency fund - build this to 6mths of your take home salary, when you are comfortable, extend it to be 12mths.

​

before you started your first job, if you already have savings, you can allocate the fund according to the three accounts

​

thnak you

Congrats on entering the working world!

I think before you give yourself a strict budget, observe your spending habits for a few months first then see what you hope to improve from there. That will help you set something realistic. Use the seedly app to track your expenses! (: