$0 savings at 21: Singaporean shares her financial struggle and regrets on Reddit AURORATOTO GROUP

SINGAPORE: One local recently admitted something most people are too embarrassed to say out loud: her bank account is completely empty.

In a candid post on the r/SGMoney subreddit, she revealed that while she has accumulated about ‘S$15,000 in her CPF account from all the part-time jobs’ she held since the age of 16, her actual cash savings have run dry.

“[I have] no hard cash. I had a few thousand saved up, which I used to travel and buy a new motorbike. Then I lost my job; more like the contract ended. I was lucky enough to be working in a high-paying part-time job where I actually loved what I did and earned way above average for a part-time job,” she wrote.

Looking back, she admitted her spending choices were not the most prudent. “I guess I was excited about having adult money as a teenager, and I wasted it on things I didn’t need, splurging on travelling and shopping. Now I regret it.”

She went on to explain that she is currently on a gap year before resuming university studies in January 2026. In the meantime, she has been actively applying for full-time positions but hasn’t had any luck.

“I’ve applied to so many full-time jobs since February, but the job market in Singapore is insane, and I have no luck. It’s either MLM companies or extremely underpaid part-time jobs. S$8/hr in this economy??”

Turning to the online community for advice, she asked if anyone knew of short-term full-time positions that could tide her over until the end of the year.

“Do help a sister out, haha. I really want to start saving again. I’ve been scraping by every month.”

She also asked the community, “How bad is it that I have $0 savings as a 21-year-old in Singapore?”

“At your age, savings is not the most important thing.”

In response, several Singaporean Redditors chimed in to reassure her that it’s normal to be broke at her age.

“Lol, don’t worry, most people don’t have more than S$1k in savings after NS or uni,” one comment read.

“I was at zero until 30 years old,” another shared. “Real savings don’t really start when your income is above your burn rate. For me, the savings really started when my income went beyond S$10k.”

A third wrote, “At your age, savings is not the most important thing. You want to acquire knowledge and skills that will pay much higher dividends in the long run. This means reading up on financial literacy, value investing, and upskilling yourself with abilities that are highly valued in the marketplace.”

Meanwhile, a fourth user advised her not to take up any part-time jobs that pay her less than S$11/hr, adding, “Go to fast gigs, and you will see many jobs paying $12/hr (even McDonald’s).”

In other news, a young Singaporean woman took to social media to question whether life in the city-state is genuinely “affordable” for young adults, or if this is simply a reassuring narrative people tell themselves to cope with the high cost of living.

On Tuesday (Aug 19), she shared her thoughts on the r/askSingapore forum, explaining that for young adults who aren’t living with their parents, everyday expenses can quickly spiral out of control.

Rent alone, she said, can take up half of a monthly paycheck, even if one is sharing a room or flat. Add transport, groceries, bills, insurance, and student loans, and there’s often little left to save or enjoy life.

Read more: Local asks, ‘Is Singapore actually affordable for young people, or are we all just pretending?’