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Charmaine Goh

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Charmaine Goh

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Charmaine Goh

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Lifestyle

Education

Career

Charmaine Goh
Charmaine Goh

()

Level 2. Rookie
Answered on 26 Mar 2019
Just curious, which year are you in actually? I think as a freshman internships may not offer as much because of the limited knowledge you have in accounting, assuming you are looking at internships in an accounting firm. Hence it might be more beneficial to acquire new skills that can go a long way in helping you in both your university courses and future internships. As a senior, having an internship to put what you've learnt to practice in a practical environment would definitely be helpful and also help you remain competitive amongst your peers in my opinion. Or of course as other commenters have mentioned, why not do both! the internship experience is definitely valuable since work and school have undoubtedly different environments and 3 months is a fairly long period of time that can surely be dedicated to more than 1 thing:)

Lifestyle

Savings

Charmaine Goh
Charmaine Goh

()

Level 2. Rookie
Answered on 25 Mar 2019
Undoubtedly this is based on many factors such as how much you are earning (assuming that minimally, you need to cover your own food and transport expenses). You mentioned not having savings after working for a year, perhaps is this because of your present spending or other circumstances such as student or family loans to pay-off? Without being privy to details, as a rough guide I'd recommend setting aside the bare minimum amount for food and transport (say about 50%? though this really depends on your take-home pay) and saving the rest in a fixed account. When you have a stable enough pool of savings you can also look into suitable investments to grow your money. In the meantime, perhaps scour out good hawker deals or for the more health-conscious, making DIY salads instead of purchasing ready to go ones that come with a much heftier price tag. The occasional social gathering also weighs on the wallet and I recommend limiting such outings to x number of times per quarter or year. Instead, find a friend to take part in low-cost entertainment activities. I strongly recommend documenting all expenses too! Speaking from personal experience, sometimes a cumulation of seemingly small-ticket non-essentials can snowball into a significant amount. Together with documenting expenses a savings goal also goes a long way and you can consider roping in a trusted friend or relative to keep you on track with these goals. As a millennial myself I understand that saving isn't easy but documenting and categorising your expenses can go a long way, all the best:)
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