When I was growing up, we didn’t have a lot. My father was a car spare parts salesman, and my mother quit her job to become a housewife after my brother was born. I am the eldest of three. One of my earliest memories is of my mum managing the household budget with the allowance that my father gave to her monthly.
We led a modest life, but I never felt poor. Mum had to stretch that small allowance, making sure that we were all fed, able to receive an education and that the bills were all paid. One of the lessons that always stuck with me was how she would scrimp and save, but would somehow find a way to deposit the little that she had left into a fixed deposit account, so that we would have something for a rainy day.
My mother’s story is a common one for her generation. While traditional gender roles might not always apply as much now, women in Singapore often play a pivotal role in family finances, and are involved in household budgeting. Very often, women are the primary decision-makers when it comes to financial planning. This central role goes beyond just managing bills. Women’s focus on budgeting and long-term planning ensures families stay afloat, especially considering Singapore’s high cost of living. Their meticulous management contributes significantly to a family’s financial stability and future security.
After growing up in a less than stable financial environment, I was determined to create a financial situation for myself that would allow me to have a comfortable standard of living and to retire securely. 15 years ago, I became a financial advisor, so that I could help others to achieve this goal as well. I truly believe that pursuing financial literacy for all, especially women, and learning how to take an active role in managing your money will help everyone to find financial freedom.
Having started her daughter on the road to financial freedom, one of our shared proudest moments for us was when I finally convinced her to let me cash out a portion of her fixed deposit accounts and 15 months later, was able to show her 120% growth in her investments. I will forever treasure that moment of shock and pride.
On this Mother’s Day, I want to pay homage to the woman who helped me to become the person that I am today. From the delicious meals that you put on the table, to your unceasing care for me, I cannot express my gratitude for everything that you have done for me.
Happy Mother’s Day mummy. I love you.
Yours,
Huiyu
