Net Income: $1,900 (assumed lower just in case / prudent)
Total Necessities: $836; 44% of net income
Fun/Feel good: $600 (assumes $150 per weekend *4weekends per month); 31.58% of net income
Savings for Buffer & Investing = 100% - (44% +31.58%) = 24.42%
In my simplistic opinion:1. Nice start - no debts & 24.42% of net income's savings per month
2. Continue to manage your $ as per now OR even better, aim for >=30% savings on net income (excluding EPF)
3. Accumulate $ in Savings A/C, FD and Bonds/Bond funds to cover at least 3 months' average expenses, preferably >=6 months average expenses IF U are the sole breadwinner OR it's hard to move jobs in your area
4. While doing (3.), learn about
a. Asset Allocation and asset classes. From here, U will be able to pickup the basic concepts of risk management VS returns + types of investments' pros/cons/expected returns
b. Value investing, dollar cost averaging, value cost averaging - from here U'd be able to pickup on WHY and HOW to buy/sell/hold
c. Draw up your own cohesive money management + investment plans based on all the above
5. Execute, track, re-plan if necessary (ie. changes in life or yearly/3 years goals not hit)
6. Keep learning - and repeat 4c to 6
