Recently, I saw an article in The Straits Times which reported the increasing trend of local PMETs being laid off in Singapore. It brought home the hard reality that professionals and skilled workers are no longer safe from being made redundant in their jobs. For degree holders like me, it also reinforced the belief that in order to sustain in this dynamic economy, it is very important to build a solid personal finance foundation and master niche skill sets.

I always encourage young people who just entered the workforce to build up their own emergency funds as soon as possible.┬áLife is always unpredictable. You never know when you will lose your job or encounter personal crisis. Having an emergency fund can help to provide short term security against market uncertainties. It allows you and your family to carry on life as per normal whilst you embark on the recovery …