Planning our annual budget is like planning for a holiday - we are excited by the new adventures that we will embark on, but the amount of work needed can also be intimidating. To ensure that our hard-earned money is spent meaningfully, a realistic budget acts as a yardstick for us to keep track of our expenses. Today, let’s roll up our sleeves and start planning our budget for now and the long-term. Step 1: Determine your post-CPF salary and alternative income sources Calculate your take-home salary, net of CPF. If you are 30 years old, earning $4,000 month, that would be $3,200, as shown in the table below. Add in any side income that you have, such as giving tuition or music classes into the income. The final result will give you the amount that you can spend without using your savings. An example calculation for total...