In January 2022, Emma Wu* moved out of her parents’ home and into a rental apartment on her own, but several months later, she regretted it.
“After paying $5,600 for the security deposit, which was equivalent to two months’ rent, I was left with about $15,000 in my savings account,” says the 32-year-old marketing manager.
“With a monthly income of $4,500, I thought I would have enough to continue paying my rent over the two-year lease and still have money left over to save or invest, but six months after moving out of home, my savings were hit unexpectedly – I had to contribute a few thousand dollars towards a family emergency, replace my desktop computer and refrigerator, fork out money to attend an overseas wedding, and pay for a…