Personal Finance for Young Adults

Being a young adult who is fresh into the workforce, it is truly a blessing to have a job and a stable income and to be able to provide for myself and my family. However with (a little more) financial freedom, it opens up a plethora of questions about how to manage my finances and grow my wealth.

Being able to fulfill my wants (see previous post), I have not been very prudent with my own spending habits and the guilt is eating into me (slightly) even though I think I’m still overall quite financially healthy. I needed a push or a motivation to find ways to grow my wealth to support my own lifestyle and thus I signed up for this free event by Seedly and Punggol GRC (i don’t stay in Punggol though).

The session was very insightful and I particularly enjoyed the keynote by Aaron Wee of The Weeblings. He was very relatable in his growth as a young adult and also shared his philosophy on the 3Ms of Money; Making money, Managing Money, and Multiplying Money.

His sharing about the different asset classes that people could invest in was also very helpful. I understand that my personal risk appetite is pretty small as of now and I am looking to hit my financial goal within my time horizon of 4 years. The explanation into the different asset classes was helpful in planning what I want to invest in. I’m currently doing dollar-cost averaging but I’m looking to have a higher risk appetite once I’ve built a certain amount for my own financial portfolio.

Asset Classes:

Equities

Commodities

Bonds

Cash equivalents

REITs (Real estate)

What are some of your own personal financial goals and how are you working towards them? I’m up for discussion so share with me your thoughts and ideas! (Or investing strategies, happy to learn!)