Using this blog to help myself

Hi friends,

I've recently decided to use blogging as a means to update my financial journey. So there will be a monthly update at the end of every month. I hope that through this blog, I can have a clearer understanding of how my portfolio is changing over time.

To give you a background of myself, I am 23 years old at the moment. I grew up in a family that would struggle financially for periods of time. I was (un)fortunate enough that I had loving parents who decided not to let me face reality when I was still young. However, during my post-secondary education, it became clear that my family was not as well-to-do compared to others.

It became worse when I enlisted. My father lost his job and we had to depend on our extended family to support us financially. Thankfully I had my allowance from NS. I didn't need to take money from my parents and I could give back to them on occasions. It was at this time that I was determined to do well in life as I do not want to be a burden to the people I care about. It was a really bad time in my life.

And, after the long-awaited ORD, guess what? UNIVERSITY, I managed to enroll in a public university, so the cost was lower. But it was still way out of my means, and I did not want to take money from my parents (They were willing to pay, I'm not even sure how). In the 8 months between my ORD and my enrollment, I worked. LIKE HELL. I was trying to earn as much of my university fees as I could during that period of time. I gave up on my social life, worked 2 jobs, essentially a 50 hours work week and lost a lot of weight.

Before enrollment, I managed to save up a 5-figure amount that could theoretically last me through my university education. (Since both of my parents were not working, I qualified for bursaries and all that). YES, I thought to myself as I enrolled, there was a slight sense of regret as being in my financial situation, I could never get the full uni experience of going for an exchange, suppers, living in hostels and all that. But I could afford an education. AND I WORKED FOR IT.

Honestly, I don't think that you should follow what I did and what I am doing. I am going to be extremely frugal as I plan to achieve financial freedom by 40. These are financial milestones that I hope to achieve;

30 - S$100,000 in liquid assets like stocks, bonds, cash, insurance policies cash values etc.
40 - S$1,000,000 in net asset.

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Currently, I have the following in my asset:
~20,000 in insurance cash value
- 6,000 in endowment
- 11,217 in fixed deposit
- 3,364 in PSEA
- 5,900 in CPF
- 2,520 in P2P lending
- 800 in stocks
- 1,000 in Singapore Saving bonds
- 20,000 in cash
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In terms of liquid asset: 35,537
Net asset: 70,801

I plan to update this again at the end of the month. Hopefully, I will come up with something that can allow me to get a good visualisation of my portfolio.

With that, thank you for reading my blog. I hope that my story will inspire you to start planning for your own finances.

Stay vested, stay frugal my friends.