Finally starting to be financially aware
Context: 25F, been working corporate full time for 3 years. Currently earning 6k take home. Only saved about 20k so far due to the reasons down below.
I got laid off, pretty traumatic experience. Brushed up on my interview skills to land a role that I am now happy in! But I did basically squander away my 3 years of salary on travelling extensively and shopping and have finally finally reached a lightbulb moment where I realise DAMN u rlly need to wake up if you actually want to stop thinking about money/ fear of layoff all the time. I would explain what I spent my money on but it was travelling and repaying my childhood debt (not money I owe but rather fulfilling my inner child but I am now aware perhaps it was too much fulfilling ouch) so I don’t feel overly guilty over it.
End of 2024, I started - VWRA recurring 800SGD monthly since I feel secure with 20k as emergency funds. Also finally able to bring down my expenses to 1-1.5k/month (inclusive of saving cash for yearly travels which I count as monthly expenses) and thinking of my next steps.
- 2k SGD recurring VWRA for next 3 decades hold
- Remaining 2k - will need to think of short term strategy for this as I plan to use it to buy a house/ marriage expenses in 5 years.
Was thinking to put in T-bills for short term strategy 2k or should I just let it sit in my bank? (OCBC 360) & should I also cater more emergency funds? The thought of getting laid off again makes me super anxious tbh and thankfully my therapy keeps me from having bad meltdowns everyday but wanted to seek advice from this sub.