In my opinion, I will like to post my top 5 personal finance tips:

1. Pay yourself first

I think this is one of the most important. You will commonly find this advice in finance books, newspaper articles and magazines.

For me, at the current moment, I pay myself 40% of my net income (after 20% CPF deduction), leaving the rest for extra savings and the reminder includes a mix of fixed and variable expenses.

And this amount paid (40% of my net income) should be left untouched till my financial objectives are met. I do keep track on the records.

Should it be used for share investment purposes, it will be recorded in my personal financial books as "Accounts Payable", meaning it will be paid off once profits realized or if not other sources of income streams.

2. Monitor your budget for specific key areas and put a ceiling ......