should I spend all my savings on tuition fee loan repayment?

Hi everyone, Im very new to this and would like to seek your advice on what to do!! Here is my situation: \- graduated uni in July \- $36k Ocbc TFL with 4.5% interest starting this month \- interning now till end-Nov with $1.5k pay \- starting job w $4.2k salary in dec \- only managed to save up $10k in uni as i went on exchange and travelled extensively \- DCA $300 monthly \- both parents working, staying w parents, single so no BTO My question is: should I put the $10k I have into loan repayment upfront? And if my take-home is around $3.3k after CPF, is it feasible to split my pay this way: \- $400 to parents \- $1000 loan repayment \- $300 emergency fund \- $500 DCA \- $1.1k living + fun I would really appreciate your advice!! Thank you so much

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u/ninhaomah 1 3 days ago

Why not clear the loan asap ?
u/silverfish241 1 3 days ago

clear loan asap. Do not DCA.
u/Junior_Word8811 1 3 days ago

Have at least 6 months of emergency funds with the following and you should be fine 50% to needs: Loans, transport, food, insurance, emergency funds 30% to wants: Parents, living + fun 20% for growth: Investments Not a fixed template. Just a guideline so you don't overdo it. Once emergency funds has hit 6 months, look to clear the loan as quickly as you can and then shift all that into investments
u/Afraid_Ad_8229 1 3 days ago

What’s your currently living situation? My advice would be to keep a certain portion of money incase of emergency first. So maybe 3-6 months of your monthly expenditure. Then the remaining amount from the 10k put it back towards repayment of the loan. Next would be to try to clear the loan as soon as possible.