I am at my mid 20s, I am confused with little savings, minimal knowledge about money. May I know how to start to build a solid finance foundation and hopefully become financially free one day. ?

Gaining knowledge ! watch Adam Khoo YouTube for investment n Josh Tan for Financial knowledge

Just get started. Making the maximum voluntary contribution of $7k to your CPF SA account is a good start since you not only reduce your taxable income, but also earn an easy 4%. Once you hit your FRS, you will have gained more knowledge about money to determine if you want to reach ERS asap or invest in instruments that are non-CPF.

Hey don’t worry!

Most people start out similar to you too.

Are you studying now or working?

If you are still studying, I say focus on your studies and slowly build up your knowledge in finance. Don’t rush it and don’t let your dollar amount in the bank dejects you.

If you are working, then let me KISS it for you (Keep It Simple and Stupid)

1. Protect your future and Pay yourself first (get your insurances and set aside a % of your salary for your future)
2. Focus on increasing your income (be it through your work or other platforms, basically invest in yourself)
3. Diversify and grow your portfolio. (Get your money working harder for you!)

Just 3 pointers. Keeping it simple for you. 👍🏻

Sounds like this is a case of having parents who did all the forward-planning for you! Or at least that's what I am a product of, and only after graduating did I start giving more thought to my finances and planning for my future after a family member got diagnosed with critical illness.

All the other answers here are extremely valuable and definitely point you in the right direction.

An actionable way to get started about your finances (not even talking about more complex topics like insurance and investments) is to first MANAGE YOUR MONEY.

Can't stress this enough, because often times we're spending money we don't know if we have. But a good budgeting habit (it involves no more than 5-10 mins of your day) can set a strong foundation for more to come.

You can try out the Seedly app :)