Personal finance is one of the most important life skill to master, yet it is unfortunately one of those topics that is hardly discussed about at home or covered in school. Still, the second you receive your diploma or your degree up on stage and have successfully exited the education phase of your life, you’re expected to lead a financially successful and wealthy life.
However, how many of us truly understand what makes a financially successful life?
The second we step out of school into adulthood, and begin drawing our very first salaries, we generally fall back onto our own interpretation of how money should be managed. This interpretation is largely backed by our money values, which for a lot of us, sits in the subconscious zones of our mind. In other words, we don’t actively think about nor analyse what our money values are, how we treat money, and what is within our financial capabilities and therefore the kinds of financial outcomes we ultimately want to achieve in life.
Thus, knowing how to manage your finance successfully is a key factor as to how well you will do in the future.
You can choose to live in the moment, splurge on a Starbucks cuppa each morning, dine out at the hottest FnB outlets every Ladies Night and Friday nights and spill that over the weekends, and purchase branded goods “because everyone’s doing it”.
Or, you could choose to do something about it to alleviate you from your current position, or at the very least, do your part within your means so that your future self will not look back and regret never taking sound financial advice and actively work on it.
Personal Finance 101
I meet young professionals often in my profession as a financial planner, and many have shared that they have never been taught the basics of money management and financial planning. So I’m going to do my best to type them out into a series of blog posts, consolidating all the money management and financial planning concepts I actively share with people, and put them out here on my blog. I hope this will provide you with building blocks of a complete personal finance education, so you can take charge of your money and your financial future.
Whether you’re looking to get a better handle on your student loan debt, craft a budget you can live comfortably with, get started building your personal wealth, wrap your head around efficient tax and wealth planning, or simply feel more empowered with basics of personal finance management, these articles will be able to get you there.
Who is this for?
As a financial planner, I know there are no “one-size-fits-all”. I will cover a broad spectrum of topics, starting with foundations of personal finance and extending to areas such as CPF and tax planning for high-income earners, debt management, investment basics and investment planning, and retirement planning (because you will need to begin retirement planning once you receive your very first salary).