How should I properly allocate my portfolio if I have very little savings as a student?

Everyone starts from zero, unless you have rich family members to set up a trust fund for you since young.

I would suggest saving consistently and as much as you can to give you some capital to invest with, and at the same time, start investing in small amounts for your own learning. Also look to discover your risk appetite, your holding period and also your investment goals. Take the time to learn about the different asset classes - for eg. Property takes a higher amount of up-front capital, and is less liquid compared to say, equities.

When you amass your investment capital, then you can start investing more confidently towards your goals.

In terms of allocation, it really depends on your goals, how much you have in terms with investment capital, and your investment horizon. That would inform how you split your portfolio accordingly.

As a student myself, which don't have much capital, something you can try is to invest in p2p platforms. You can leave the auto-invest function on, where the platform will invest your capital in different forms of investments based on the requirements you have set. This means that you can be a more passive investor, where you don't neccessarily have to always monitor your investments.

Another added advantage is that your start up capital can be low. Some of the investments in some platforms require as low as $50 per investment, so with lower capital, it's a good place to start! :)