From money maestros to a millennial Girlboss, these finance experts share their 2017 resolutions for a prosperous new year.
Week in, week out, we dole out tips and advice, and suss out and compare the best deals — food, shopping, travel, credit cards and everything in between — that would help you live your best life; yes, cultivating good money habits and having a very healthy bank account can do that.
To conclude the year, we thought nothing would be better than asking a few trusted friends and sources — from money maestros to a millennial Girlboss — what their financial resolutions are for 2017. We’re certainly inspired, and hope you will be, too.
Vasu Menon, 53 - Vice-President and Senior Investment Strategist, OCBC Bank (Wealth Management Unit)
Money Mantra: Money should not be an obsession, but it’s necessary for a comfortable life, so managing money is crucial for survival and peace of mind.
I am a firm believer in financial planning. I believe that everyone ought to keep a close watch on their finances, bearing in mind not just their short-term wants but more importantly their long-term needs.
Financial planning goes beyond just making sure that you set aside enough savings, it also means buying enough insurance for unexpected events and investing your savings prudently to make sure that you can meet your long term needs like paying for your kids’ university education and funding your golden years.
Financial resolution(s) for 2017: Continue doing what I have been doing for the last three decades — watching my expenses carefully, saving as much as I can and looking for opportunities to invest and grow my funds prudently. Late fatherhood and two very young kids mean that I have to pay greater attention to my finances to make sure that my family is sufficiently provided for.
Anna Haotanto, 32 - CEO, TheNewSavvy.com
Money Mantra: Having money means having the choice and financial security to seek a life I find meaningful. It is also to provide my loved ones with the kind of life they desire.
Financial resolution(s) for 2017: (1) Shop less and buy better quality, investment pieces. I am trying to cut out buying fast-fashion brands to invest in better-quality pieces that I can wear over the years. I am also trying to focus on buying age-appropriate outfits, instead of trend-led pieces, not to mention reduce emotional- and boredom-shopping.
(2) Eat out less. Eating out in Singapore is convenient but it also adds up. I am trying to save money by preparing my own meals. It is also healthier!
Rohith Murthy, 35 - Founder and Managing Director, SingSaver.com.sg
Money Mantra: When it comes to your money, don't settle for an OK deal. Always compare, haggle and strive to get the best deal every single time.
Financial resolution(s) for 2017: (1) Replenish my emergency fund ASAP. I had to break it last year to cover for my mother’s medical expenses.
(2) Stop paying in advance for services and benefits I am not 100% sure I need. For example, buffet breakfasts as an add-on for hotel rooms when travelling overseas, mobile data plans with maximum/highest coverage.
(3) Cancel all auto-renewals for subscriptions and do not opt for auto-renewal for any future purchase.
Marilyn Chew, 23 - Founder, Eterate.Co
Money Mantra: Earn a dollar, not save a dime. It is what a COO told me when I was interning. At the time, I put too much too focus on making ends meet. When I shifted my focus back to enjoying the work, I became happier and naturally I was rewarded.
Financial resolution(s) for 2017: I aim to be self-sufficient as I embark on a new career in a new city, while at the same time living life to the fullest!
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By Alexa Fang
Alexa is a pop-culture vulture. She lives to read, write and travel, and decided long ago that life is stranger than fiction. When she's having croissant, she thinks in French. "31 Rue Cambon" is her favourite address, and she believes that money one enjoyed spending is never money wasted.