If you’re in your 30s and 40s in Singapore, you’ve most likely been earning enough money to begin saving and investing. This makes you part of the rising consumer class in Singapore, which is also called the “emerging affluent”, according to the BBC. You have big financial goals, but are probably not saving as much as you can.
And since living in Singapore can be costly, the last thing you want is to find out that you’ve been making the wrong choices when it comes to managing your money. In fact, how you manage your money should change when you reach a different stage in life. It’s not uncommon for the emerging affluent Singaporeans to make certain money mistakes without realising them. We’ve listed down six you should avoid, so you can make the most of your finances: