Ever since we started the website, it has always been Mr Budget who has been publishing the articles that you read. We thought it is a good time to introduce Mrs Budget a bit more, because we are doing this together. 

A lot of times, Mrs Budget wants to write, but I guess Mr Budget is the one that is better in putting things down in words.

So we thought it will be a good idea to do a quick Q&A with Mrs Budget instead, to get things rolling. 

How did you meet Mr Budget

We met each other through a dating app. I was lucky to be on the app for only about two months before I met Mr Budget last year. I didn’t have high hopes of him at first as we talked very little on the app – his reply was really intermittent.

Fortunately, we clicked really well on the first date and he asked for a second date just 2 days after! We’ve been together happily ever since and got married this year 🙂

What are your views on savings

To me, saving is not spending as little money as possible and depriving yourself from night out with friends or not buying the things you want. Saving to me means knowing where my money goes. I used to think I was saving as long as I do not get a deficit bank account balance at the end of the month. 

However, slowly I realised that without knowing your cash flow, you could be spending more than you earned without even knowing it. By tracking your expenses, you can identify expenses that can be reduced and see how you can further maximize your savings.

What made you start investing

I used to be against the idea of investing after seeing how my parents and close relatives suffered hefty losses from bad investments. Since young, I shy away from the thought of investing as I had the impression that investing is like gambling.

It wasn’t until I met Mr Budget that I started to become more financially conscious. 

I took a free beginner 2 days financial course ‘Managing Your Money: A Layman’s Winning Approach’ offered by the Civil Service College. Through this course, I realized how important it is to save and invest for the future. I remembered the trainer showing us an illustration of how by just only saving, it will not enough to fund us for our retirement.

What is your biggest purchase so far

I bought an apartment in 2015 , one year after I started working. The current monthly repayment accounts for almost half of my monthly expenditure (to check) and it is co-paid by Mr Budget. While it is a costly purchase, this apartment became our current home where we enjoy back to every single day.

What is your biggest financial mistake so far

For me, it will be not doing the math before I bought my insurance policies. 

When I just started working, I bought a few costly insurance policies for the sake of buying without knowing what I’m really paying. I had to drop some later on and incurred some losses from the premium which I had paid for 2 years. Insurances are good and necessary and there are many good insurance products in the market.

My mistake was not accessing what I need and what I can afford.

What is your biggest money lesson

I bought into a speculative stock without doing my due diligence to access the company’s financial statements. The stock price went up nearly 50% before crashing to below its IPO’s price. I learnt to follow a disciplined long-term approach to investing and not let emotions and short-term gain cloud my judgement.

What is your current financial goal

My financial goal is to feel financially secure – pay off my home loan, to have a comfortable retirement, doing the things I want without worrying about money and not having to wake up dreading about work.

On top of that, I also want to take time to invest in myself because the new things you will be capable of doing tomorrow will depend on what you do today to improve yourself.

Do you have any other questions that you’d like to ask Mr or Mrs Budget?

Feel free to let us know in the comments below. 🙂

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