The early we start the better! Whatever type of insurance that you want to purchase just make sure that you have an absolute idea about the details of the policy. Good thing there are lots of resources now to compare policies for each type of insurance. From its rates, features, and interest rates :-)

That's quite a huge regular expenses, though it's a good thing that you have insurance for your parents just in case you will need it in the future.

I just want to share how I save. I also have other consultancy jobs apart from my regular job. What I do is I save 20% from each fees every payment, say if one client pay me 2,000. I keep 20% of that, then I do the same with others and save it to the bank for other investment. The other 80% of each, that is where I manage my finances/expenses... Hope this helps!

And I also have mutual fund and other form on investments.