What to do if your savings were wiped out after marriage and paying off loans?

I had a comment from a reader on "My financial goals" page today. This comment reflects the reality of living in Singapore.

Here's the comment:

"I am an engineer, turning 30 this year. After paying off my university and other loans, I am left with nothing in my hands. I am married, wanna have babies soon. How do I start saving and investing then?"

Credit: avinashgamebroy.deviantart.com

I believe there are many others who also had their savings wiped out after having a wedding, paying off school loans and even have their CPF wiped out when they buy a new house. I told the reader that I've not been through this stage so I won't understand how the situation is like. But I added on that I believe all of us can start all over again. There are 2 ways to saving more money. One is reducing your expenses which requires some sacrifices and the other is to increase your income. Both have to work together hand in hand.

Of course, after marriage, most of us will want to have babies as what the reader also desired. Having kids will surely increase your expenses and I would say there is no way to predict how much it would cost to raise a kid up. However, I would not suggest anyone to not have kids just because he or she has no money. I'm in no position to suggest that at all and if I'm in similar situation, I may also want to have kids of my own.

I'm sure there are some of you who've been through this situation before who can give a better advice on the situation above. So did you manage to start saving and investing again? Feel free to share and comment below if you've been through this stage or is going through this stage now.

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