JA jaspergan As a young adult, what should i focus more on when budgeting?

[UncleSam]

I never focused on percentage. Just list down what you have to spend on to live with comfort and dignity, then segment them into essentials vs nice-to-haves, and voila, you got your budget. Then look for alternatives of better value. Keep building up the surplus, i.e. whatever's left of your unspent and untouched income, and that's where you apply the percentages. Annual expenses are also averaged out into monthly figures, so that helps with the budget and setting aside money for the yearly expected expenses.

Personally, I like to invest at least 70% of the monthly savings, because everything else has already been budgeted for.

[DancingFaith]

This article might help you! DBS actually has a site call nav.sg with lots of useful articles. https://www.dbs.com.sg/personal/articles/nav/financial-planning/young-but-not-reckless-with-money

[getitgt]

@getitgt

[getitgt]

Rather than just setting percentages, I would budget according to my financial goals. If you’re a fresh grad/young adult, what do you feel like you need to prioritise more now?

1. Got enough insurance coverage?
2. Have saved up at least 6 months of emergency funds? (depending on your sitch - grocery, rent, bills, transport)
3. Investing (if you haven’t) as a means to keep up with inflation and grow $?

Would say to get a protection plan you can afford, and then funnel most of your money (that you’re not gonna spend that month, you can get an idea of your approximate spending from apps) into saving up for emergency funds. I find that setting aside $100-200 to try out investing while doing this is reasonable.

I find that setting % to expenses without considering my daily needs then not being able to stay within budget can be disheartening.

[JuJu]

This video may help u
https://www.youtube.com/watch?v=wnE0-j2hHKE