Do you have any regrets in your saving path? - Seedly

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AMA SG Budget Babe

Asked by Chen Zhirong

Asked on 12 Aug 2018

Do you have any regrets in your saving path?

Example: something you should have spent on but didn't?

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Answers (5)

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Dawn Fiona
Dawn Fiona
Level 5. Genius
Answered on 14 Aug 2018

None, I think I made all the best decisions I could have possibly made under those circumstances :) many of my friends regretted not switching to a high-yield saving account earlier or topping up their CPF, but I've done all the moment I could!

I seldom focus on regret. I look back on the past to learn from my mistakes instead.

But in terms of investing, yes I do have some regrets there, like not having started earlier, not having attended certain courses sooner, etc.

OH I just thought of one more, but this is not in my personal situation though.

Many people regret NOT having spent on insurance while they were healthy and had the chance to. So don't let that become a regret, remember to make sure you're well covered

Remember, in my guide to financial freedom, insurance and protection comes BEFORE investment! http://www.sgbudgetbabe.com/2016/05/the-road-to-financial-independence.html

(of course, don't overpay for insurance also lah. and I don't believe in mixing insurance and investment. I could have saved much more if I didn't buy my ILP back then! http://www.sgbudgetbabe.com/2016/10/why-i-cancelled-my-ilp-investment.html )

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Soon Xiaohui
Soon Xiaohui
Level 5. Genius
Answered on 14 Aug 2018

hmm actually its never too late to realize the importance of saving than never. so instead of thinking/focusing on the regrets. Why don't you explore more to improve ur furture :)

And plus everyone has a different lifestyle, so avoid comparing ur life to others, because having a negative mindset may actually make yourself feel bad and for some people they may ended up spending more when they are in foul mood. Even if you have plans for saving, do rem to save a bucket to enjoy life. Life is short. You gonna to be happy so that you can enjoy the fruits of your investment.

I would prefer to look at those mistake(s) we made in our saving path as a reminder & learn how to improve from there.

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HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 14 Aug 2018

Maybe don't focus on regret because we cannot turn back time.

Let's start saving now, it's never too late.

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Isabella Jo
Isabella Jo
Level 4. Prodigy
Updated on 07 Jun 2019

I regret focusing on saving during my university years. Of course the benefit is that it cultivates good habits. However, rather than saving pennies, if you ask me now I rather spend to get experience when you have the luxury of time. Being full time working parents now, it's hard to take a short break to explore the different culture in other countries.

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Chen Zhirong
Chen Zhirong

14 Aug 2018

Thanks, yea! It's something that I advocate to all my juniors =)
Rave Ong Ci De
Rave Ong Ci De
Level 5. Genius
Updated on 07 Jun 2019

I definitely regretted that I was too nice. Saved up the money, only to lend to other people who couldn’t be disciplined to save. and I can be quite extreme to save, ie, don’t go out “gaigai”, hangout with friends, etc.

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Rave Ong Ci De
Rave Ong Ci De

14 Aug 2018

Nope. I look at it from another point of view. Better to lose a few hundred and know the fellow for who they are, than to know it when I entrust them with more.
Bear Cranky
Bear Cranky

19 Aug 2018

Rave, im like u - too nice & quite extreme to save, nv gaigai w friends! Save a lot & gt cheated by ex-colleague! Yours is only few hundred. Mine is $20k! She repay bit by bit! Yet to repay in full. Interest oso yet to start repaying me! I paid SDCS Debt Collector $1,200 to chase her. End up SDCS oso cheat me bc it nv do its job to chase her! Waste $1,200 too!