Dear 19-year-old Olivia,

Being 27 at this time of writing and having lived an extra eight years than you, I have some things to share.

Things that will affect your life greatly if you listen to me -- older Olivia.

So please read this letter carefully. You’ll thank me later.

Don’t create embarrassing blogs or post embarrassing photos on the Internet

You will regret all the mindless typing and cringey photos because… future employers will find them.

They will CSI those things out.

It’s not that they won’t hire you because of it. It’s worse, young Olivia. Your colleagues will laugh about it over lunch while you pretend to laugh along with them.

And when you secretly try to delete the blog and photos, you’ll realise that you’ve forgotten your password, and come to the realisation that there’s no way of ever deleting them because... the Internet is forever.

Don’t doodle on your textbooks and lecture notes

You will regret this when it’s time to sell those books because you’ll have a hard time erasing/ correction-taping away the mindless drawings.

Also, don’t highlight the books. Drawing mind maps on rough paper is a better idea.

Lay off all the teenage drinking

You’ll have plenty of time later in life to do all this drinking. Don’t need to start damaging your liver so early.

Also, do you wanna know the other thing alcohol is damaging? Your wallet.

Booze is expensive, and I know you spend quite a bit of your allowance on it. Drink orange juice instead.

Don’t get those pink hair extensions

Just don’t.

Make FULL USE of your student concessions

Exhaust all the student privileges tied to the school matriculation card in your wallet. It is a discount card in disguise which can save you loads of money.

And speaking of saving loads of money...

START SAVING EARLY

Don’t roll your eyes, young Olivia. This might be the most obvious, but it’s also the most useful advice.

It’s great that you have a part-time job while studying. Making your own dough, earning your own keep feels fantastic. Now you can upsize your bubble tea, all the time…guilt-free. But guess what you’re not doing with the money? Saving it.

At 19, you’re living life as a carefree dreamer and not putting all that cash into some sort of fund. Let me calculate how much the pay will add up to if you save it every month.

$100 per shift x 2 (a week) = $200

$200 x 47 weeks in a year (minus holidays) = $9,400

$9,400 x 3 years you’ll work = $28,200

But okay, let’s say you spend (conservatively) on food and necessities, and save the rest. You will get about $19,000.

And guess what, if you put that $19,000 in the bank, you’ll even get 1.5% extra each year in interest (or even higher depending on your bank). At the end of 8 years, that will be a (rough) compounded sum of $21,403.36!

That’s extra money for just not touching it, and letting it grow in the bank. 2018 Olivia will thank you if you keep that sum.

I know you love to go out and have fun, so here are some ways you can save without compromising on your social life. The thing is, when you start early, good financial planning will become a habit. Then you’ll be able to invest the money you saved, and probably become a millionaire by 27.

Okay maybe not. But you’ll definitely become a more financially stable 2018 Olivia.

Yours truly,

2018 Olivia

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Are you a carefree dreamer like my young self? Or are you more savvy in terms of money saving? Take this quiz to find out, and unlock some money management tips at the same time.

Save Up, Save Smart is a joint campaign by gov.sg and MoneySENSE to encourage young adults to take charge of their finances.

Start planning for your future financially. Learn more about useful money-saving tips here because they are very relevant to avocado toast-eating millennials like you.

Trust us, your future self will also thank you.

This sponsored post in collaboration with Gov.sg and MoneySENSE helps the 2018 versions of Mothership.sg’s writers plan for our future selves.