I'm a final year student with school fees of $38K but my father has paid for it first. Sadly, I only have about $1.5K in my savings now. What advice could you share with me that would really help?

If you're filial, you will pay back your dad eventually. Immediate money concerns should'nt be your main problem.

What you should be doing is building up your portfolio, planning on your job search, sending our applications all over. You will find a job naturally and with it, the money will come too.

In terms of managing your finances, try to set rules for yourself. Lets say you earn about $500, allocate perhaps 50% of that money into your savings and then the other 50% for spending. Make sure you do not break the rule of overspending! Once you are comfortable with that lifestyle, you slowly increase the percentage of your savings! :D

Hi Anon,

you are definitely not alone! don't fret that you have little savings, because you are currently freelancing to earn more so money will definitely come your way :) It's great that your father assisted to pay for the school fees first, as you don't need to shoulder the huge finanical responsibility of paying off bank loan + interest after you graduate. if it burdens you, talk to your father on a monthly instalment plan to slowly pay him back, hopefully you guys can arrive at a lower/no interest agreement!

Honestly, I don't think that you are in a terrible financial state because you are actively taking steps to ensure cash inflow, and that itself is very commendable and responsible. In terms of lifestyle and habits, I would suggest you explore expenditure-tracking apps, or use Seedly app to retain an overview of your assets across the banks! This will make sure you know where your money went, and what you have, to better curb excessive spending and consciously plan your spending/saving strategies along the way :) remember wealth accumulation doesn't happen overnight, but if you are consistent in saving/planning, you are on the right path!​​​

If only have 1.5k in savings, i would not recommend you to invest in anything. This is because you may never knw but u will need the 1.5k anytime and you wouldnt wan to put in a stock market which may not give positive return in the short term.

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

Next, create a budget that is capable of helping you to plan for the future. The best way to do this is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly...

By enforcing discipline and to focus on your goals, you will be able to overcome the situation. Remember, this is only temporary. Where the willingless is great, the difficulties cannot be great.

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