WEBVTT - How to take control of your finances in 2025

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<v Speaker 1>You're listening to a CNA podcast.

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<v Speaker 2>Welcome to CNA's Money Talks podcast. I'm Andrea Heng, and

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<v Speaker 2>it's a brand new year, everybody. And with a new

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<v Speaker 2>year comes New Year's resolutions. Now, I'm not one to

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<v Speaker 2>shy away from New Year's resolutions, especially when it comes

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<v Speaker 2>to money. If you're thinking of new ways to gain

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<v Speaker 2>more wealth with much less pain, stay with me because

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<v Speaker 2>I'm gonna ask for some tips from Dawn Shu. She

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<v Speaker 2>is better known as SG Budget babe and she is here.

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<v Speaker 2>To help us out. Welcome back, Dawn, to the Money

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<v Speaker 2>Talks podcast. Hi Andrea, nice studio. Thank you. And I'm

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<v Speaker 2>glad that you are the first guest at this new setup. So,

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<v Speaker 2>back to business. What were some of your financial highlights

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<v Speaker 2>for 2024? I think a major highlight for me was

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<v Speaker 2>hitting five digits in passive income through stock dividends. So

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<v Speaker 2>that was the goal I've been striving towards since I

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<v Speaker 2>was in my twenties and I finally hit that, which

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<v Speaker 2>I think is great, and.

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<v Speaker 2>make it 6 digits. Is that going to be harder though,

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<v Speaker 2>do you think? It is, but the good thing about

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<v Speaker 2>all these is that it really compounds. And the truth

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<v Speaker 2>is I didn't have to add so much new capital

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<v Speaker 2>to get to that 5 digit mark. It was really

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<v Speaker 2>a case of the stocks that I owned, increased the

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<v Speaker 2>dividends and they grew, right? So it was passive. So

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<v Speaker 2>that means in 2025, you're going to be a little

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<v Speaker 2>more active just to get 10 times the amount. OK.

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<v Speaker 2>I've been seeing all sorts.

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<v Speaker 2>Of new money hacks, money habits on social media. One

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<v Speaker 2>of them was Project Pan by influencer Daisy and Mitchell

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<v Speaker 2>on TikTok. So basically what it is is she has

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<v Speaker 2>a goal to finish all her unfinished makeup and skincare.

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<v Speaker 2>They have to hit pan before she buys a new one.

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<v Speaker 2>Therefore project. I thought it was brilliant and I'm honestly

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<v Speaker 2>quite inspired because I have way too much makeup.

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<v Speaker 2>But you are SG budget babe. You're all over the

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<v Speaker 2>internet talking about all things money, so you must have

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<v Speaker 2>tried quite a few new money habits here and there

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<v Speaker 2>over the years. Are there any new money habits for

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<v Speaker 2>2025 that you're hoping to cultivate? I think it really

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<v Speaker 2>goes back down to that six digits. Walk me through it.

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<v Speaker 2>And at the same time, I'm also building other things

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<v Speaker 2>on the side to get.

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<v Speaker 2>Closer to greater passive income from multiple sources as I age.

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<v Speaker 2>You sound so busy. I do not get enough sleep,

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<v Speaker 2>but I think it's really important because I've always talked

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<v Speaker 2>about on my blog that we should have multiple streams

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<v Speaker 2>of income and a lot of these in my 20s

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<v Speaker 2>were built on active sources of income. Now that I'm

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<v Speaker 2>in my 30s and I have children, I realized it's

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<v Speaker 2>not always possible to exchange our time and energy for

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<v Speaker 2>money all the time. We need to start building.

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<v Speaker 2>Passively, so that comes from building businesses, from investing in

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<v Speaker 2>stocks or instruments that will give us that kind of

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<v Speaker 2>passive income. And at the same time, I'm also exploring royalties,

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<v Speaker 2>which is something new. So then that will create another

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<v Speaker 2>lake to my table of multiple streams of income. I'm

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<v Speaker 2>interested in royalties. Is that really a big market? Is

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<v Speaker 2>there a lot of money to be made? I don't

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<v Speaker 2>know yet. I'm actually writing a book and it's coming

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<v Speaker 2>out in 2025. OK, I always hear things about how

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<v Speaker 2>authors are not rich.

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<v Speaker 2>But we'll find out in 1 to 2 years' time.

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<v Speaker 2>So we know the drill, Dawn, OK. Spend less, save more,

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<v Speaker 2>but surely it's not that simple. I am testament to that.

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<v Speaker 2>I am finding it really difficult to just spend less

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<v Speaker 2>and save more. It turns out that the savings that

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<v Speaker 2>I get from spending less is really not a lot.

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<v Speaker 2>I mean it's pockets here and there and I think

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<v Speaker 2>it's especially hard to do it this time around because

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<v Speaker 2>things are a lot more costly nowadays, let's face it.

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<v Speaker 2>Now, is cutting back the only answer to having more

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<v Speaker 2>cash in the bank? No, it's not, but I have

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<v Speaker 2>to say two things. First of all, it is simple,

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<v Speaker 2>but it's not easy. Yes, it's easier to just spend,

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<v Speaker 2>it's easier to indulge. It's easy to just go out

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<v Speaker 2>for a good meal to reward yourself after a hard

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<v Speaker 2>day of work. Oh, too easy. Yes, but it's more

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<v Speaker 2>difficult to

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<v Speaker 2>Prep that meal and buy groceries so that you save

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<v Speaker 2>a little bit more. And it's even harder to do

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<v Speaker 2>that consistently when you have many things running on your plate.

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<v Speaker 2>So what is simple isn't always easy, but we have

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<v Speaker 2>to really decide what are the decisions that we're going

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<v Speaker 2>to make based on the outcomes that we want to achieve.

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<v Speaker 2>The second thing going back to your question, is cutting

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<v Speaker 2>back the only way? No, it's not. And in fact,

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<v Speaker 2>I feel cutting back is indeed getting harder, right? The

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<v Speaker 2>cost of living has

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<v Speaker 2>Increase if you dine out a lot, especially, food costs

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<v Speaker 2>are up by around 30%. So for people who dine

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<v Speaker 2>out really often, that's where you now need to start

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<v Speaker 2>to decide whether you want to do the harder part

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<v Speaker 2>of prepping your own meals or potentially keep out that

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<v Speaker 2>dining out experience but cut back on other areas in life. However,

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<v Speaker 2>I always feel that cutting back is always a limit

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<v Speaker 2>because the max you can go is just how much

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<v Speaker 2>you spend.

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<v Speaker 2>There is another way to it, which is to increase

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<v Speaker 2>your earning income. Yes, of course. OK, talk to me

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<v Speaker 2>about that. So when you increase your earn income, whether

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<v Speaker 2>through active or passive sources, you can actually get a

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<v Speaker 2>lot more money versus what you spend. So when you

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<v Speaker 2>increase that and still keep your spending moderate, you can

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<v Speaker 2>actually get a bigger difference than simply trying to cut

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<v Speaker 2>back because there will be also this point when you

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<v Speaker 2>say until you're just miserable. And what's the point of life? Exactly,

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<v Speaker 2>and then it feels like, oh my God, I'm working.

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<v Speaker 2>so hard to say and nothing is coming out of it.

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<v Speaker 2>Is this really the only answer. So you're always at

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<v Speaker 2>privy to the fact that people can raise prices rather

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<v Speaker 2>than focus on something we don't have control over, I

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<v Speaker 2>always talk about putting our focus on things that we

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<v Speaker 2>can control, which is how much we spend. OK. We

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<v Speaker 2>cannot control if other people raise their prices, but we

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<v Speaker 2>can moderate our spending and still keep to our budget.

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<v Speaker 2>We might have to increase that budget, but at least

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<v Speaker 2>we're still keeping to one. You know, I'm I've taken

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<v Speaker 2>one of your old pieces of advice.

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<v Speaker 2>When I last spoke to you about, you know, buying

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<v Speaker 2>things in bulk and buying house brands. I know you

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<v Speaker 2>are like house brand queen. I started doing that and

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<v Speaker 2>I have saved a chunk of money. Like my grocery

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<v Speaker 2>bills are not $100 anymore for two people and it

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<v Speaker 2>lasts us like months. So thank you for that. I

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<v Speaker 2>think that it is possible, but you have to go

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<v Speaker 2>through the hardship of it, like you need to put

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<v Speaker 2>in the hard work, buying, making sure that you are

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<v Speaker 2>paying attention to prices, paying attention to calculations.

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<v Speaker 2>And I personally think while it's a bit tedious, it's

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<v Speaker 2>worth it. It's absolutely worth it. So what about side hustles?

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<v Speaker 2>So you wrote something for us at CNA about how

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<v Speaker 2>having a side hustle might be an option as a

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<v Speaker 2>way of diversifying income streams because you know, having a

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<v Speaker 2>full-time job may not be enough to reach our financial goals,

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<v Speaker 2>especially when things are so costly nowadays, right? So for

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<v Speaker 2>those for whom a side hustle is not an option,

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<v Speaker 2>what would be

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<v Speaker 2>an option for someone like me, no time, no energy

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<v Speaker 2>to have a side hustle and I still need to

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<v Speaker 2>work on my full-time job and give it my 150%.

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<v Speaker 2>There's only two ways out of it, right? First, you

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<v Speaker 2>can think about if you can build a side hustle

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<v Speaker 2>that requires less time and energy and my favorite side

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<v Speaker 2>hustle to do is to invest in dividend stocks because

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<v Speaker 2>I just need to find great companies with great leadership

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<v Speaker 2>and they are the ones who are running the business,

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<v Speaker 2>increasing the dividends, not you. Yeah, and all I do

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<v Speaker 2>is just.

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<v Speaker 2>My money in those stocks. Of course, there's always a

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<v Speaker 2>risk that your money could go down if the company

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<v Speaker 2>does not do well, but that's where the art of

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<v Speaker 2>selecting and making sure that you invest in the right stocks,

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<v Speaker 2>the right companies are at play. You also have to

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<v Speaker 2>diversify your risk a little bit, so that's the whole

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<v Speaker 2>conversation there. But the other thing also is I feel

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<v Speaker 2>in today's times, there has been a lot more options

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<v Speaker 2>for side hustles that don't take up so much time

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<v Speaker 2>and energy as well other than investing. So for instance,

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<v Speaker 2>in the past you had to be an influencer with

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<v Speaker 2>a following to do affiliate marketing.

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<v Speaker 2>That's right. Today, and I've just talked about this very

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<v Speaker 2>aggressively in the last few months, there are affiliate marketing

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<v Speaker 2>options to people who do not really have a following.

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<v Speaker 2>I noticed that I started seeing that on Instagram and TikTok.

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<v Speaker 2>I'm like, who are these people? And I realized, wait

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<v Speaker 2>a minute, this is a way that they're earning money

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<v Speaker 2>while doing basically everyday things. And the thing is that

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<v Speaker 2>these platforms have only just launched these features recently. It

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<v Speaker 2>used to be gated to only those who were, but

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<v Speaker 2>now the everyday person can do it.

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<v Speaker 2>There's also UGC content. I know people who create user

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<v Speaker 2>generated content for brands and they do it for a

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<v Speaker 2>nominal fee, even though you don't have a following, you

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<v Speaker 2>still can earn from that. But of course, if having

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<v Speaker 2>said that, all of that is still too much time

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<v Speaker 2>and energy, then the other option, especially for someone like you,

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<v Speaker 2>would be to increase on your career and you can

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<v Speaker 2>bargain and negotiate for a higher salary while proving to

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<v Speaker 2>your employer that you have indeed added more value and

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<v Speaker 2>it will be their loss if they lose you.

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<v Speaker 2>Yeah see time for me to make an appointment with

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<v Speaker 2>my boss. What about putting, you know, a big lump

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<v Speaker 2>sum of money that I've saved aside. What can I

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<v Speaker 2>do with that? So instead of a side hustle per se,

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<v Speaker 2>could I perhaps put something somewhere and leave it alone

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<v Speaker 2>and let it grow passively, which is what I do

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<v Speaker 2>in dividend stocks, right? But at the same time, so

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<v Speaker 2>there are different options. There is fixed income and there

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<v Speaker 2>is equities. OK, fixed income includes really safe options like

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<v Speaker 2>your fixed deficits.

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<v Speaker 2>your endowments and basically anything that gives you a guarantee

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<v Speaker 2>with an exchange for you. It could even include bonds,

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<v Speaker 2>although bonds are a bit iffy there because you have

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<v Speaker 2>to pick the right ones. That's right. Even the local

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<v Speaker 2>banks give you a fixed deposit that could give you

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<v Speaker 2>a decent 2% or even 3% in exchange for a lockup.

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<v Speaker 2>So that's one way, right? Or endowments by the insurers,

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<v Speaker 2>if you lock up for a longer period of time,

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<v Speaker 2>you could also get those kinds of returns. But at

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<v Speaker 2>the other side of the picture, if you don't want

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<v Speaker 2>to lock up your money.

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<v Speaker 2>Yeah, then you have to take on more risk. Yes,

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<v Speaker 2>investment risk, more liquidity equals more risk. Exactly. OK, that's

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<v Speaker 2>a really clear picture of what we can do, the

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<v Speaker 2>various options that we can take. Now, what's usually a

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<v Speaker 2>financial habit that, you know, all of us typically at

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<v Speaker 2>the start of the year, OK, I'm going to do

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<v Speaker 2>this and it's going to be successful and then 3

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<v Speaker 2>months later, you check in on them and they're like,

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<v Speaker 2>so how's that new habit going? Oh no, it's a

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<v Speaker 2>massive failure.

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<v Speaker 2>In your observation, what's been that one habit that people, well,

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<v Speaker 2>don't hope to fail, but they eventually do fail to

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<v Speaker 2>start investing? Oh, when it comes to money habits, it's

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<v Speaker 2>always to start investing. I've lost count of the number

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<v Speaker 2>of times or the number of DMs I've gotten from

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<v Speaker 2>readers who say that I want to learn investing, but

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<v Speaker 2>I don't know how. I promise I'll learn it. They

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<v Speaker 2>read books or they go for courses and I always

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<v Speaker 2>point my readers to different options.

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<v Speaker 2>Free options. Here's your options, including like what I'm free, free, right?

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<v Speaker 2>You just need the time to go through that. Otherwise,

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<v Speaker 2>if you want shortcuts, crash course, that like workshops and

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<v Speaker 2>crash courses that you can go for, or if you

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<v Speaker 2>want super detailed and you don't mind paying more money

0:10:51.285 --> 0:10:54.006
<v Speaker 2>for physical, there's of course trainers in Singapore who could

0:10:54.006 --> 0:10:56.016
<v Speaker 2>do that for you for a couple of thousands as well.

0:10:56.206 --> 0:10:59.205
<v Speaker 2>But some of them, interestingly, even if they take that

0:10:59.206 --> 0:11:02.726
<v Speaker 2>first step to learn, right, the act of implementing it is.

0:11:02.883 --> 0:11:05.004
<v Speaker 2>missing because I would then ask them, and I like

0:11:05.004 --> 0:11:07.643
<v Speaker 2>to ask my students because I run those free workshops

0:11:07.643 --> 0:11:09.843
<v Speaker 2>or crash course at a very affordable fee for just

0:11:09.843 --> 0:11:11.924
<v Speaker 2>a couple of $100 right? And I like to check

0:11:11.924 --> 0:11:14.124
<v Speaker 2>in on them to ask. So guys, how many of

0:11:14.124 --> 0:11:16.804
<v Speaker 2>you have started investing this year? A lot of them

0:11:16.804 --> 0:11:20.213
<v Speaker 2>have said, so I've completed the lessons, but I haven't

0:11:20.213 --> 0:11:23.403
<v Speaker 2>yet started. It's that inertia, it's that fear, and then

0:11:23.403 --> 0:11:25.323
<v Speaker 2>I would ask what can we do to, you know,

0:11:25.443 --> 0:11:27.283
<v Speaker 2>help you overcome that. But

0:11:27.330 --> 0:11:29.401
<v Speaker 2>At the same time, there's also very little that we

0:11:29.401 --> 0:11:32.390
<v Speaker 2>can do. The person has to be the one. Of course.

0:11:32.559 --> 0:11:35.361
<v Speaker 2>And I'm curious about that like what is it in

0:11:35.361 --> 0:11:38.950
<v Speaker 2>the inertia to make that first step? Is it fear?

0:11:39.000 --> 0:11:43.000
<v Speaker 2>Is it uncertainty? Is it just risk averse? I think

0:11:43.000 --> 0:11:45.241
<v Speaker 2>it could be all of that and more. Sometimes it's

0:11:45.241 --> 0:11:48.160
<v Speaker 2>really the fact that it's just inertia, right? If you

0:11:48.160 --> 0:11:51.120
<v Speaker 2>want to, for instance, a common New Year's resolution is

0:11:51.120 --> 0:11:51.681
<v Speaker 2>to get fit.

0:11:52.200 --> 0:11:54.809
<v Speaker 2>But it's a lot of inertia to get off the couch,

0:11:54.929 --> 0:11:57.570
<v Speaker 2>not Netflix, and go for a run, right? So in

0:11:57.570 --> 0:11:59.929
<v Speaker 2>the same vein, a lot of people, it's just easier

0:11:59.929 --> 0:12:02.489
<v Speaker 2>to leave the money in the bank or just pass

0:12:02.489 --> 0:12:04.770
<v Speaker 2>it over to the insurance agent to manage or pass

0:12:04.770 --> 0:12:06.570
<v Speaker 2>it over to the banker, so you don't have to

0:12:06.570 --> 0:12:09.569
<v Speaker 2>get involved yourself. But the truth is it's not that hard.

0:12:09.650 --> 0:12:11.719
<v Speaker 2>I think the bigger problem is a lot of people

0:12:11.719 --> 0:12:15.250
<v Speaker 2>overcomplicate things. Today it only takes a couple of seconds

0:12:15.250 --> 0:12:18.090
<v Speaker 2>to open up a brokerage account because of pass, right?

0:12:18.130 --> 0:12:20.799
<v Speaker 2>And then when you're in a brokerage account, if you want.

0:12:20.859 --> 0:12:24.169
<v Speaker 2>Something super simple. They are like exchange traded funds that

0:12:24.169 --> 0:12:26.750
<v Speaker 2>track the index, the market index. So as long as

0:12:26.750 --> 0:12:30.690
<v Speaker 2>you invest in relatively safer markets or less volatile markets,

0:12:30.849 --> 0:12:34.440
<v Speaker 2>you'll still be relatively OK. But at the same time,

0:12:34.570 --> 0:12:36.330
<v Speaker 2>people don't really do that. Or even if we look

0:12:36.330 --> 0:12:39.380
<v Speaker 2>at guaranteed options, OK. I remember not too long ago

0:12:39.380 --> 0:12:42.929
<v Speaker 2>when I talked about how use bank savings accounts, versus

0:12:42.929 --> 0:12:46.580
<v Speaker 2>normal bank savings account. How many people actually make the switch? Yeah.

0:12:46.770 --> 0:12:48.848
<v Speaker 2>It's one thing to do the research, it's one thing

0:12:48.849 --> 0:12:49.530
<v Speaker 2>to be excited.

0:12:49.770 --> 0:12:51.809
<v Speaker 2>About it and then you don't do anything about it,

0:12:51.849 --> 0:12:54.848
<v Speaker 2>then you're not going to earn anything from it, are you? OK,

0:12:55.049 --> 0:12:57.010
<v Speaker 2>I felt that one. I felt that one. It's the

0:12:57.010 --> 0:12:59.250
<v Speaker 2>time of the year where we take stock of things,

0:12:59.369 --> 0:13:03.469
<v Speaker 2>where we are in our financial portfolios and plans. When

0:13:03.469 --> 0:13:07.619
<v Speaker 2>we review these plans, what's the most important thing to

0:13:07.619 --> 0:13:11.059
<v Speaker 2>look at whether you're on track. So I always feel,

0:13:11.090 --> 0:13:14.130
<v Speaker 2>and everyone's goal is going to be different. If for instance,

0:13:14.169 --> 0:13:16.869
<v Speaker 2>you have been spending more and you feel guilty about that,

0:13:16.929 --> 0:13:17.640
<v Speaker 2>that's me.

0:13:18.460 --> 0:13:20.489
<v Speaker 2>Action plan would be to cut back on the spending

0:13:20.489 --> 0:13:23.710
<v Speaker 2>or earn more. So you can spend without that guilt, right?

0:13:23.719 --> 0:13:26.640
<v Speaker 2>And for instance, if you feel that you are underinsured

0:13:26.640 --> 0:13:29.369
<v Speaker 2>and you really want to get to it before anything

0:13:29.369 --> 0:13:32.848
<v Speaker 2>happens on your health or at the insurance site, then

0:13:32.849 --> 0:13:35.270
<v Speaker 2>get to it. It's not that hard to just book

0:13:35.270 --> 0:13:37.979
<v Speaker 2>and insurance agents are going to be very happy to

0:13:37.979 --> 0:13:40.900
<v Speaker 2>just here at your house in your convenience to help

0:13:40.900 --> 0:13:43.159
<v Speaker 2>you get that set up. But what if we don't

0:13:43.159 --> 0:13:46.169
<v Speaker 2>have the time to, you know, shop around, compare prices,

0:13:46.289 --> 0:13:47.219
<v Speaker 2>see if we need to

0:13:47.400 --> 0:13:50.380
<v Speaker 2>You know, change insurer and stuff like that. I mean,

0:13:50.479 --> 0:13:53.099
<v Speaker 2>are there, is it OK to just sit there and

0:13:53.599 --> 0:13:56.209
<v Speaker 2>Be OK and stick with what we have. I love

0:13:56.210 --> 0:13:59.090
<v Speaker 2>that you're asking this question because I always feel that

0:13:59.090 --> 0:14:02.450
<v Speaker 2>time is always just an excuse. We can always make

0:14:02.450 --> 0:14:04.289
<v Speaker 2>more time. It's not that we don't have time. It's

0:14:04.289 --> 0:14:06.929
<v Speaker 2>just not a priority, right? So if it's not a priority,

0:14:06.969 --> 0:14:09.289
<v Speaker 2>then what are our options? Well, it's OK to just

0:14:09.289 --> 0:14:12.570
<v Speaker 2>let it sit. If you are OK with the trade-offs

0:14:12.570 --> 0:14:15.809
<v Speaker 2>and the potential consequences, or if you find out that

0:14:15.809 --> 0:14:19.690
<v Speaker 2>your current plans are pretty still pretty good, exactly. If

0:14:19.690 --> 0:14:20.409
<v Speaker 2>it ain't broke, don't fix it.

0:14:20.538 --> 0:14:22.737
<v Speaker 2>Right. Exactly. And I feel that when it comes to reviewing,

0:14:22.838 --> 0:14:24.737
<v Speaker 2>people don't have to stress out so much about having

0:14:24.737 --> 0:14:28.687
<v Speaker 2>to review their insurance portfolio so often. Yeah. I always

0:14:28.687 --> 0:14:30.778
<v Speaker 2>say just do it when your life milestone changes. So

0:14:30.778 --> 0:14:32.867
<v Speaker 2>if nothing changes this year, you didn't buy a new property,

0:14:32.937 --> 0:14:35.218
<v Speaker 2>you didn't have a new kid, you didn't have a

0:14:35.218 --> 0:14:38.507
<v Speaker 2>new dependent or lost a dependent, then maybe you don't

0:14:38.507 --> 0:14:40.297
<v Speaker 2>really have to review it. Wait for the next life

0:14:40.297 --> 0:14:43.157
<v Speaker 2>milestone and then do it then. But more importantly is

0:14:43.158 --> 0:14:45.857
<v Speaker 2>that when you act on this and you review, are

0:14:45.857 --> 0:14:47.668
<v Speaker 2>you meeting your goals? Because if you

0:14:47.716 --> 0:14:49.906
<v Speaker 2>You're not, every year is a great chance to make

0:14:49.906 --> 0:14:52.945
<v Speaker 2>sure that we recalibrate and get back on track because

0:14:52.945 --> 0:14:55.265
<v Speaker 2>otherwise we'll all be talking about how I want to

0:14:55.265 --> 0:14:58.145
<v Speaker 2>retire at this age with this amount of money or

0:14:58.145 --> 0:15:01.505
<v Speaker 2>this passive income or having this amount of interest or

0:15:01.505 --> 0:15:04.346
<v Speaker 2>use or dividends, but you never get there because you

0:15:04.346 --> 0:15:08.145
<v Speaker 2>never built it despite having the last 1015, 2030 years

0:15:08.145 --> 0:15:10.546
<v Speaker 2>to do so. Yeah, indeed, indeed. And I think this

0:15:10.546 --> 0:15:13.286
<v Speaker 2>is one of those biggest tips like if you know,

0:15:13.515 --> 0:15:14.866
<v Speaker 2>reviewing shouldn't be so.

0:15:14.924 --> 0:15:16.994
<v Speaker 2>most stressful and I think that the tip here that

0:15:16.994 --> 0:15:19.713
<v Speaker 2>I really like is, you know, do your review at

0:15:19.713 --> 0:15:22.794
<v Speaker 2>the major milestones in your life because that's when things

0:15:22.794 --> 0:15:25.513
<v Speaker 2>really change and you need to take stock of what's happening.

0:15:25.633 --> 0:15:27.953
<v Speaker 2>I'll also give my template for the annual reviews that

0:15:27.953 --> 0:15:30.234
<v Speaker 2>I do for myself. All I look at is how

0:15:30.234 --> 0:15:32.674
<v Speaker 2>much did I earn, how much did I save. So

0:15:32.674 --> 0:15:34.393
<v Speaker 2>I don't look at how much I spend anymore. I

0:15:34.393 --> 0:15:36.273
<v Speaker 2>used to, but now I look at how much I

0:15:36.273 --> 0:15:40.254
<v Speaker 2>save because it's the difference that makes all the more important,

0:15:40.473 --> 0:15:42.033
<v Speaker 2>and it's how much you saved in proportion.

0:15:42.132 --> 0:15:44.471
<v Speaker 2>To what you earn. Exactly. And then the last thing

0:15:44.471 --> 0:15:46.841
<v Speaker 2>I look at is my protection. So if nothing changes

0:15:46.841 --> 0:15:48.591
<v Speaker 2>in my life milestones, I'm not going to review that.

0:15:48.601 --> 0:15:50.841
<v Speaker 2>This year, I'm not reviewing that at all. And the

0:15:50.841 --> 0:15:53.322
<v Speaker 2>final one, so just 4 buckets, right, it's investing. I'll

0:15:53.322 --> 0:15:55.642
<v Speaker 2>look at my investment performance on the whole to see

0:15:55.642 --> 0:15:58.601
<v Speaker 2>if there's anything I can improve and most importantly, how

0:15:58.601 --> 0:16:00.960
<v Speaker 2>did I fare against the markets. Right? So just just

0:16:00.961 --> 0:16:03.322
<v Speaker 2>4 things and I think that should be a 30

0:16:03.322 --> 0:16:05.882
<v Speaker 2>minute exercise at the most. Dawn, it's been great. Thanks

0:16:05.882 --> 0:16:07.562
<v Speaker 2>very much for coming on the Money Talks podcast again.

0:16:07.622 --> 0:16:08.651
<v Speaker 2>Thanks for having me.

0:16:09.340 --> 0:16:13.450
<v Speaker 2>Hope you've gained some insights into how to be better

0:16:13.450 --> 0:16:16.929
<v Speaker 2>money-wise in 2025. If you've got any comments or questions,

0:16:17.090 --> 0:16:20.090
<v Speaker 2>feel free to drop us a message. Money Talks is

0:16:20.090 --> 0:16:24.359
<v Speaker 2>available on Apple Podcasts, Spotify and YouTube Music as well.

0:16:24.570 --> 0:16:26.770
<v Speaker 2>Do leave us a rating. We're gonna give credits to

0:16:26.770 --> 0:16:30.130
<v Speaker 2>the team as well. Christina, Robert, Tiffany Ag, Junaini Johari,

0:16:30.369 --> 0:16:34.090
<v Speaker 2>Joanne Chan, Hanida Amin, Saya Wyn, and Chris De Leon.

0:16:34.250 --> 0:16:36.400
<v Speaker 2>I'm Andrea Heng. Thanks for listening to Money Talks.