I HAD A PIGGY BANK! It was a really big Tweety Bird-themed 3D piggy bank, no less. Alas, I did not put any money into it. I was spoilt as a child, and usually spent whatever I was given at the arcade, pool halls and also toys and food (Hello expensive coffee at Starbucks and lunches at Orchard!) Fast forward more than a decade, I have saved enough to put down a downpayment on a freehold condo at 26, with additional liquid cash of S$300k. Why the change? I discovered the value of thrift ever since I had to start paying for my own university education. Earning your own keep from an early age teaches one the value of money, and also the benefits of compounding from an early age. Before each purchase - these are the questions I ask myself: - What exactly am I spending on, and why? More often than not, fashionable clothing purchases fail this question. Other things like drinks (Bubble tea for example - $5 for added empty calories? Probably not). It is far more interesting to think about that money being allocated to assets that grow in value. - Does it give joy to myself, or others? Being thrifty does not mean being miserly. I tend to be more generous when I eat with my family, for example. Because it gives joy to others around me, I personally think that some money is worth the spend. If I were to eat by myself, I have a tendency to want to support local hawkers, instead of larger food chains. The sense of homeliness and familiarity when you see the auntie who serves you your favourite food at Chinatown complex is unparalleled. - Is this expenditure going to positively/negatively impact other areas of my life? Spending on high quality, nutritious food albeit at a higher price, yes. Spending on a snazzy new phone just because it's a cool new toy, probably not unless my existing phone is spoilt. Even then, I probably would wait until prices go down, since electronics prices drop fast. With that said, I still can do better. Admittedly, I have not been too on-the-ball with my investment portfolio. I have sold off most of my shareholdings already, so I should start looking into what I can do with my idle liquid cash. I am saving with the goal of having my passive income cover my annual expenses, so that I can be more financially independent and not rely on a monthly wage if I don't want to. Hoping to win a pair of Seedly PFF 2019 tickets since it sounds very interesting!