TAKING RESPONSIBILITY FOR OUR DECISIONS
Taking ownership of your finances means more than just watching YouTube videos or reading a few blog posts. We can’t always blame someone else for our decisions, even if they have influenced our thinking.
Six years ago, I bought a resale Housing and Development Board (HDB) flat because I was worried about stretching my finances too thin, despite my property agent advising me that a resale condominium unit across the street was a much better deal.
Six years on, I’m watching the owners of the condo unit across the street walk away with a S$400,000 gain, while my HDB flat has barely appreciated in value.
Despite my regrets, I’m in no position to blame my agent. Ultimately, I made the call for myself.
It can be a hard pill to swallow, but what we choose to do with our money is up to us – not that influencer with the slick Instagram feed, or the financial adviser pushing you to buy a policy by month’s end, and definitely not the strangers in Telegram groups hyping up the next “sure win” investment.
So the next time you see a viral TikTok about a “sure-win” investment, remember this: Not all financial advice is bad, but not all financial advice is meant for you.
Don’t just ask yourself, “Is this good?” Ask yourself, “Is this good for me?”
We must stay curious, choose wisely and never outsource our personal financial responsibility to anyone else.
Dawn Cher, also known as SG Budget Babe, has been running a popular blog on personal finance for the last 10 years.
