How to Thrive When a Spender Marries a Saver


You’ve found the love of your life and decided to get married. However, as you plan for your shared future, you realize that one of you is a spender while the other is a saver.

Fortunately, there are strategies to manage joint finances that can satisfy both partners. Here are some tips for maintaining a balanced relationship between a spender and a saver that have been beneficial for me and my spouse.


Money often elicits strong emotions: it can cause anxiety or excitement, and managing it can either calm or stress you out. Before getting married, take time to explore each other’s feelings about money and the reasons behind them. Did you grow up in a household where money was scarce or abundant? Your upbringing significantly influences your money attitudes, and your future spouse might see things differently.

When my husband and I were engaged, we had a deep conversation about our financial upbringings. He grew up in a frugal household where every dollar was accounted for, while I was raised in a family that enjoyed spending on experiences and luxuries. Understanding these backgrounds helped us empathize with each other’s financial perspectives.


One partner might value designer items, while the other enjoys an expensive hobby. Perhaps you both love to travel, aspire to own a home, or want to retire early. By discussing your desires, you can find common ground. Planning and saving for shared goals can ensure that both partners are satisfied with the purchases you make together.

We both love to travel, but I tend to splurge on spontaneous trips while my husband prefer saving for bigger vacations. By discussing our priorities, we agreed to save a portion of our income specifically for travel, allowing us to enjoy both planned and impromptu trips. If both partners agree, you can establish a clear plan for discretionary spending and saving for long-term goals.


The pain of spending can be mitigated by using credit cards or small denominations of cash. One-click purchases and buy-it-now payments are also less painful. These payment methods can make spending less distressing for savers. Conversely, using cash, especially in large denominations, can make spending more painful for savers, though spenders are generally less influenced by the payment method.

Image Credits:

I noticed that my husband found it easier to stick to our budget when using cash. We decided to allocate a monthly cash allowance for discretionary spending, which helped us control our expenses better.


Many people, particularly spenders, often overlook opportunity costs at the time of purchase. When reminded of these costs, spenders tend to make more frugal choices.

For example, in a study where spenders had to choose between a S$950 and a S$1,360 stereo, they were more likely to choose the S$950 stereo when reminded that the cheaper option left them with S$410 in cash. This extra cash can be used for a weekend getaway. Highlighting opportunity costs can help spenders make more mindful decisions.


Savers are more willing to spend on virtuous items, such as healthy food, compared to vices. If a saver is hesitant about a vacation, emphasize the virtuous aspects of the trip, such as quality time with family or the health benefits of relaxation.


If you struggle to agree on a budget, consider consulting a financial planner. They can help create a budget that works for both of you.

Financial planners offer impartial advice and can determine whether certain expenses are affordable or should be postponed.


Spenders and savers often have different life goals, which can lead to tension. Avoid comparing yourself to your partner as a way to justify your spending habits. This approach only deepens the divide and rarely resolves issues.

If you’re a saver, it’s easy to feel superior because you save more, but such feelings can harm your relationship. Remember, spending habits do not define a person’s worth or value in a relationship.

Image Credits:

By following these tips, you can foster a financially harmonious relationship. Embrace your differences, communicate openly, and work together towards common goals to ensure a happy and prosperous future.

Sources: 1 & 2



5 Personal Finance Tips for Singaporean Millennials

Navigating personal finance can feel like navigating a maze, especially for Singaporean millennials facing unique financial challenges.

From student loan debts to saving for a home in one of the world’s priciest property markets, the journey can seem daunting. But fear not, with the right mindset and strategies, financial security and success are within reach.


Budgeting is the cornerstone of personal finance. It empowers you to track expenses, prioritize spending, and work towards financial goals. Start by understanding Singapore’s cost of living and allocate your income accordingly.

Track expenses diligently; even that artisan morning coffee can add up. Utilize budgeting apps and tools to streamline the process and stay accountable. Take advantage of credit card perks responsibly to avoid debt accumulation.


For eligible Singaporeans, Tuition Fee Loan and Study Loan are available options. To assist those grappling with student loan debts, explore repayment options and loan consolidation programs.

Craft a repayment plan that aligns with your budget and lifestyle. Consider making extra payments whenever possible to expedite debt payoff. Remember, managing student loans is a marathon, not a sprint. Stay disciplined and patient.


Image Credits:

According to research, nearly a quarter of Millennials (22%) have turned to family and friends for financial advice. While seeking financial advice from friends and family is natural, be discerning. Advice from unqualified sources could lead to costly mistakes. Listen to advice, but ensure your financial decisions align with your long-term objectives and risk tolerance. Better yet, seek professional advise.


Owning a home is a common goal for Singaporean millennials. Start by setting realistic savings targets and explore government housing schemes like the Central Provident Fund (CPF) Housing Grant or HDB Loan Eligibility (HLE) letter.

Consider alternative housing options like Built-To-Order (BTO) flats or resale flats in non-mature estates to maximize affordability. Boost your home-buying fund by exploring side hustles or investments.


Though retirement may seem distant, it’s never too early to plan. Take advantage of employer-sponsored retirement schemes such as CPF Special Account (SA) or Supplementary Retirement Scheme (SRS).

Consider diversifying investments across asset classes to minimize risk and maximize returns. Automate contributions and regularly review your retirement plan to ensure alignment with your goals.


Image Credits:

Navigating personal finance can be challenging, especially for Singaporean millennials. But by adopting proactive strategies like budgeting, loan management, home saving, and retirement planning, financial stability and success are attainable.

With determination and discipline, pave your way to a secure financial future.

Sources: 1, 2, & 3


How to Efficiently Overcome Money Worries in Singapore

With many people facing added mental, emotional, and financial stress, our overall health has never been more important. If you’ve been feeling less than yourself lately, you’re not alone. It’s normal to feel burnt out from everything that’s been going on. Unfortunately, burnout can extend to all parts of your life—from work to family and everything in between, including your finances.

Symptoms of Financial Stress:
There are obvious symptoms of financial stress that we can identify when we experience significant situations in our lives, as well as more subtle signs of burnout that can make problem-solving seem impossible. Watch for these signs and symptoms of financial burnout:

a. Constantly thinking about your budget, or lack thereof.
b. Feeling stressed about where your money is coming from and where it’s going.
c. Feeling guilty, exhausted, depressed, or overwhelmed about your finances.
d. Feeling cynical or apathetic towards your financial goals.
e. Lack of sleep or increased anxiety just thinking about money.


What’s the best way to help you stay on top of your finances? Get your finances organized and focus on the future! Understand the finer details of your finances, like when you get paid, when your bills are due, your monthly budget, and your savings. Find an organizational tool that works for you—whether that’s in an app, spreadsheet, or journal. We have lots of great resources to help you get started!


If you haven’t set up monthly auto payments yet, why not? Take the guesswork out of your monthly payments so you never feel strapped for cash or worried about making payments on time. Keep track of your upcoming payments in your money diary so you’re aware of what’s coming in and going out of your bank account each week. And then don’t forget to check your bank statements at the end of each month to make sure your payments went through!


When you’re facing money problems, there’s often a strong temptation to bottle everything up and try to go it alone. Many of us even consider money a taboo subject, one not to be discussed with others. You may feel awkward about disclosing the amount you earn or spend, feel shame about any financial mistakes you’ve made, or be embarrassed about not being able to provide for your family. But bottling things up will only make your financial stress worse. In the current economy, where many people are struggling through no fault of their own, you’ll likely find others are far more understanding of your problems.

Keeping money worries to yourself only amplifies them until they seem insurmountable. The simple act of expressing your problems to someone you trust can make them seem far less intimidating.


Brainstorm ideas with your family or a trusted friend or consult a free financial counseling service. You may decide that talking to credit card companies and requesting a lower interest rate would help solve your problem. Or maybe you need to restructure your debt, eliminate your car payment, downsize your home, or talk to your boss about working overtime.


Get up at your normal time and stick to your usual routine. If you lose your routine, it can affect your eating – you may stop cooking, miss breakfast because you’re still in bed, or eat snacks instead of having proper meals.


Image Credits:

Don’t make the mistake of budgeting out fun! Budgeting, like dieting, is all about balance and choosing moderation over deprivation. If you restrict yourself too much, you’ll feel unmotivated and less likely to see your financial goals through. Make sure to incorporate fun with friends, date nights, and “splurges” like spa days, haircuts, or coffee runs. Acknowledge your hard work by rewarding yourself when you need to.

Sources: 1 & 2


How Your Child’s Money Habits Affect Old Age

As parents, we play a vital role in shaping our children’s behavior and values, including their money habits. While we often focus on the immediate impact of teaching our kids about financial responsibility, it’s crucial to recognize that these habits can have far-reaching consequences that extend well into old age.

We’ll explore the profound influence of childhood money habits on one’s financial well-being during the golden years.

Instilling a strong foundation of financial literacy in children sets them on a path towards a secure future. Teaching them basic concepts like saving, budgeting, and distinguishing between needs and wants establishes healthy money habits from an early age. These early lessons can profoundly impact how they handle their finances in adulthood, leading to better financial decision-making during retirement.

Encouraging children to save money fosters a sense of delayed gratification and financial discipline. By teaching them the importance of setting aside money for the future, we equip them with the tools needed to build a retirement nest egg. Children who develop a habit of saving are more likely to continue this practice throughout their lives, ensuring a more comfortable retirement.

Educating children about the responsible use of credit and the potential dangers of debt is crucial. When children learn to differentiate between good and bad debt, they are more likely to make informed decisions about borrowing in adulthood. By cultivating a sense of caution and encouraging responsible credit usage, we help them avoid financial hardships in their later years.

The work ethic and attitudes towards earning money that children develop during their formative years can significantly impact their financial stability in old age. Teaching children the value of hard work, ambition, and perseverance can instill a sense of responsibility and a drive to succeed. These qualities are often correlated with higher earnings and a greater ability to build wealth for retirement.

Empowering children to become financially independent and self-sufficient individuals has lasting implications for their financial well-being in old age. Encouraging them to find part-time jobs, start small businesses, or pursue entrepreneurial ventures teaches them the importance of generating income and managing it responsibly. This independence reduces the risk of financial dependence on others during retirement.


Children learn by observing the behavior of their parents and other influential figures in their lives. Modeling positive financial habits and demonstrating responsible money management lays the groundwork for their own financial future. Parents who exemplify prudent spending, saving, and investing practices are more likely to raise children who adopt these behaviors in their later years.


Image Credits:

Our children’s money habits have a profound impact on their financial well-being in old age. By providing them with a solid foundation in financial literacy, teaching the value of saving, cultivating responsible credit usage, and fostering a strong work ethic, we empower them to make wise financial decisions throughout their lives. As parents, we have a unique opportunity to shape their future financial security and set them on the path to a comfortable and fulfilling retirement. Let’s make the most of it and ensure our children are well-prepared for their golden years.

Sources: 1, 2, & 3