Anonymous

28 Oct 2020

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Hi there, I have graduated and been working for about 1.5 year now, and it it is always a big concern on my mind whether I have sufficient savings?

I have approximately 30k in savings, and am at 25 years old currently. I know many have said its not a competition, but it is a big concern to me and something that has been weighing on my thoughts recently.

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SingaporeanTalksMoney

28 Oct 2020

Hi! I am about the same age as you and I also thought if my savings are enough. I would say 30K is a good amount and that you are at least saving. Do keep at it and continue saving but to also put your money into places that grow.

You can read more at my blog:

SingaporeanTalksMoney

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Justin Kieran Ong

27 Oct 2020

Most people would advocate to have enough savings for around 6 months of your expenditure to help you tide over most short term setbacks like with the pandamic.

So how much is sufficient really depends on your lifestyle and how conservative you are. If you feel you are unlikely to be retrenched or get a serious illness, you can save less and use the extra money for insurance.

I've been working for around 2-3 years and I had about the same amount when I was where you are.

I would recommend looking at your expenses to see where youroney is going to, to help you make an informed decision.

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Shania Loh

27 Oct 2020

Seedly Student Ambassador 2020/21 at Seedly

Hi Anon!

Glad you are thinking more about your savings now, and its always good to start thinking ...

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