Having lived through the eighties as a kid, the nineties as a teenager and the noughties as a yuppie, I now find myself stumbling into my mid-thirties as we reach the halfway point of this decade.

As I listen to "All These Things That I've Done" by The Killers and sip a glass of red wine, now seems as good a time as any to reflect.

And so, here are five things I wish I had the chance to tell my 25-year-old self:

#1: Always find a reason to save up.

At 25, retirement and kids cannot be further away from your horizon. You will want to live life like there is no tomorrow. You will overspend. But please — never, ever, underestimate the importance of liquid savings.

The best way to make sure you save up is to have a purpose to do so. From time to time, create reasons for yourself to save up. A mega-holiday. A car, perhaps. Set a target amount to save and track your progress against that target every time you receive a pay check. If and when you have reached that target, great — pamper yourself. Then, set a new reason to save. You will never realise the empowerment that comes with liquid savings until the day comes when you really need cash and find that you don’t have enough.

#2: Buy additional health insurance now … for your parents

It is always better to buy more health insurance for your parents, and you should buy it as early as possible. No matter how well-off your parents are, they will become more dependent on you (and your siblings) over time – this is life.

It is crucial that you defer some of that future financial burden to the present time, and one of the best ways to do that is by purchasing more health insurance for them before pre-existing health conditions set in for them.

Go find out more about health insurance and premiums now. Don't snooze on this, or you'll lose.

#3: Get onto the property ladder early

You may or may not get married in a few years. If you are, that’s great. HDB policies will provide you with an array of options to get onto the property ladder. If you aren’t, you must keep thinking about how to get onto the property ladder.

Yes, current prices and regulations may make it extremely difficult for you. The amount of money needed upfront may put you off. You may not qualify for a mortgage at this point.

However, keep in mind that prices and regulations are not rigid all of the time. They occasionally do, in fact, change overnight. And if they do change in your favour, you'll want to ensure you have some decent savings (see #1) to carpe diem. You can never be too young (especially if you're already in your twenties) to understand the nuances of the Singapore property scene and its historical trends.

Like they say in poker, you need to be in it to win it.

#4: Keep upgrading your paper qualifications, and yes — network

You'll be well-placed in your mid-twenties if you recognise that there is always room for improvement.

The labour market is evolving all the time, and any paper qualification you may have now is likely to sooner or later be inadequate. Your skills may become obsolete. Look out for every opportunity to upgrade yourself – be it an additional degree, Masters or a professional qualification. Yes, you will need to spend time, effort and money but trust me, there will not be a better time to do this than when you are 25.

Courses provide you with the best opportunity ever to network with like-minded individuals. Many of those whom you will meet in such settings could be people you'll meet in your line of business as well. Stop giving yourself excuses. Get to know more people. Talk to them and find out more about how they make a living. Expand your horizons. These opportunities are priceless – don’t let them slip by.

#5: Don't gamble; the odds are never in your favour

I saved this contentious one for last, but it's no less important.

I'll be among the first to admit this: it isn't easy to stay away from temptations in an island with two casinos, and where going to Singapore Pools is a widely-accepted national pastime. However, never forget this – the odds are not in your favour.

Sure, a small bet here and there spices up things — there's probably nothing wrong with that, but don't ever gamble when you don't have the money to. In particular, follow these two rules of thumb:

(1) never borrow money to make a bet and

(2) never ever double up a wager to try to recoup what was lost in the previous bet.

If you like what you read, follow us on Facebook and Twitter to get the latest updates.