We all want more money.
But money is often boring, confusing, and sometimes, downright cringy (I’m looking at you, YouTube financial gurus). Researching the right mortgage provider or insurance plan puts you to sleep. And it seems like everyone has a different opinion on where you should put your money: This new technology stock! No, fixed deposits are the way to go! No, it’s all about crypto!
The good news is, 95% of personal finance content online doesn’t actually matter for ordinary folks like you and I. Instead, effective personal finance is like choosing a phone. Most of the features don’t matter because you’ll never use them. So we simply need to know what we want, set up our system, and then move on with our lives.
While I’ve been writing about personal finance for over 10 years, I’ve never consolidated my entire system into a single post. So, I decided to write one. The goal is to give you a broad overview of my personal finance system. It’s light on the details, but meant to help you see that money is not this crazy complicated thing. Instead, it’s all about the 80/20 rule: Do the right 20% of activities, and you’ll get 80% of the benefit.
Here are the four parts to my personal finance system:
- Automated Savings
- Guilt-Free Spending
- Set-and-Forget Investing
- Earning More Money
Check out The No-B.S. Guide To Money For Young Singaporeans, and let me know what you think!