You’ve just stepped into the working world and would, therefore, expect to have plenty of disposable income in your hands. In reality? You’re already living from paycheck to paycheck. Now, imagine: if money is already so tight, how would you cough up the necessary sums for your wedding expenses, home mortgage loan, or family expansion plans? Thankfully, being in your 20s means you’ve still got plenty of time to build your wealth! So here are 4 smart money moves you should make ASAP to ensure future financial success.
Create a Budget and Maintain a Positive Cash Flow
|
Take-Home Salary 4,000 (S$)Take-Home Salary 6,000 (S$)Take-Home Salary 8,000 (S$) |
|
|
| Necessities (50%) |
2,000 |
3,000 |
4,000 |
| Wants (30%) |
1,200 |
1,800 |
2,400 |
| Savings (20%) |
800 |
1,200 |
1,600 |
Your priority should be maintaining a positive cash flow. You can do that by creating a budget – and, more importantly, staying within the limits you have set for yourself. A simple budgeting...
