Q1. Could you do a short introduction about yourself and what you do?
I’m currently a Psychology undergraduate at Nanyang Technological University. Baking is a part-time job that I do during the holidays or whenever I’m free.
Q2. What are some of the money saving tips that you live by?
In general, I always set aside a portion of my earnings and allowances in a bank account that I have banned myself from withdrawing money from. Once any amount of money goes in, it would become part of my savings for the future. For my daily expenditure, there are times where I splurge at cafes with my friends but I actually have an application called “Entertainer” which gives me 1 for 1 meal vouchers which I use to save money!
Q3. Being an entrepreneur, what is the toughest part in managing your finance in your job?
The tough part would be budgeting, for example how much we should allocate for advertisements, how much stocks should we bring in (Just In Case/ Just In Time) and sourcing for reliable and cost effective materials. There were times where we actually invested in advertisements that didn’t deliver as expected and it actually took up a lot of our budget. But of course, some risks are worth taking.
Q4. Any tips for the aspiring entrepreneurs out there?
Give your very best in whatever you do! It may sound simple but many people including myself tend to give less than our best, which might lead to regret.