These are what I did and gradually find them to be good practice 1) Have two bank accounts (but if you cant keep two accounts afloat with the minimum balance, just go with one to reduce bank fees). Your salary goes to the main account (which should be high interest like OCBC 360 or DBS multiplier). You set a monthly / weekly transfer of your own spending allowance to the 2nd / spending account, you just need to keep a small balance fee enough to fulfil minimum balance and a bit of buffer. For me, I find two accounts practical, because I am very visual, and can spend if I don't know what's the limit. But when I see remaining balance = 50, and I still have to make that 50 last till next Monday, I will be mindful and control even what I eat to make sure it can last till Monday. 2) Do a budget and track your expenses. If its your first time doing it, start with 1-3 mths of past bank statements / records etc then build a mthly average. As you get better, stage 2 is 12 mths / full year budget. I split into two parts coz you just started working, and realistically you will find your spending pattern change, so it might not be a good use of your time going through less relevant stuff, and the second part is certain times dont happen monthly (eg Valentine's Day, Father / Mother Day, CNY, dental, health checks, maybe insurance, maybe taxes, vacations) - realistically the full year budget should incorporate for these type of spending. 3) Set up savings goal or some mechanism to leave money in your main account to handle the bills / wants. You should always maintain a healthy balance and not go to overdraft, or insufficient funds. When you get hit with $10 for bounced check / rejected giro deduction, it adds up and these are fees you can avoid and save. For me, I work out what my annual insurance / vacation costs are, set a savings goal to save for it - eg if I budget 9000 for annual insurance costs, 9000 / 12 = 750, I start the goal with 3x 750 =2250, and set it to save 750 monthly on the day after pay day. This is just setting aside money until when you need, which I will release from the savings goal into the floating balance to pay the bills. I do the same, and save 500 per mth for vacation, even though it hasnt happened, so when I do want to take one, I see what's available and plan the trip accordingly. 4) in terms of emergency fund, try to set aside at least 10-15% initially until you stabilize your finances. Realistically, the emergency funds should be like 3-6 mths of your necessary allowances, but there will be a limit to how much you can carve out at first. Start small and be prudent. For me, my emergency fund should be ideally 36,000 which is 6x6k, and covers 6 months of mortgage, allowances, utilities, some spending and 1/2 year insurance bills - it doesnt have travel or cover drinks so its really very barebones because it covers the things I must pay for and cant skimp further. 5) in your budget, always balance it to make sure full year, income = full year expenses and some savings. I would recommend the minimum savings be 10%, but I can do 40% (includes 15% for doing srs and cpf top-up). Start small and adjust as you get more comfortable. Honestly 20+% shouldnt be difficult once you started three works into work, and 35% I feel is the ideal spot - because one you get used to not living beyond your means (and have to go into credit card debt), you can afford some nice stuff once in a while, and yes there are times certain things will throw you off track. 6) Get hospitalization insurance, then work to cover other aspects as you scale up along. 7) after you cover emergency and necessary insurance, then I suggest regular savings plan, just stash them to save for the future, be it retirement, wedding, whatever. My first rsp was BCIP into CMT and when those quarterly dividends started flowing in, I was so happy at a time I was facing possible retrenchment. For 2020, I think I have dividends / interest to cover abit of monthly expenses so that can be like my allowance in case my job is threatened again. It will allow the emergency funds to last longer if I use these dividends to supplement for paying the bills. I think thats enough for the day.