In the past I failed to realize the importance of investment and savings. However as I graduated from poly a few days back, I realize the need to learn more and at the same time cut down on my spendthrift habits? Where do I start from here ? TIA.?

Transfer the amount of money that you need to save into another bank account ; which you will set and forget.

This way, you can save first before spending.

First step to solving a problem is admitting that you have the problem. Well done for making the first step.

1) Write out or draw your cashflow so you can see where all your money goes to. I will recommend using a budgetting app for this, SEEDLY APP or Wally. (Personally switch over from Wally to seedly)

2) Automatically transfer a portion of your income to a seperate savings accounts and DO NOT TOUCH IT. This will be your pure saving

3) Start reading up on a few personal finance books to brush up on the importance of certain concepts. There are no short cuts, put in the effort to read up. You can consume online contents/blogs on these subject as well.

Start somewhere. Baby steps. Good luck.

It's never too late to start making a positive change, and glad that you realized the need to do so. The first step would be to track your expenses, use an app like Seedly or Spendee, to monitor where your money go every month. Once you become more consicous of your spending habits, set a budget and make an effort to stick within the budget. It might be difficult at the start but give yourself some time and it will benefit you in the long run.

Hi Anon, it's still not too late to cut down on spending and start saving up! What I did that worked for me is to determine a budget for spending every month, stick to that, and open a separate expenses savings account just for the purpose of expenditure. Every form of income you get, save it in a high interest savings account, then allocate say $800 per month to the expenses account and you can only spend from there. That will instill discipline and control your urges to spend.