Pay yourself first method

We know how shiok it feels when it’s payday. *cues image of you dancing around with money falling from the sky* But that’s also when temptation is most likely to strike — new kicks, front-row seats to a concert, maybe a Grab ride or two.

But before you make it rain, try this: pay yourself first by saving before you spend, not after. So instead of hoping there's money left for savings at the end of the month (spoiler: there usually isn’t), you lock it away first.

Why it works

• Mental trick: Treating savings like a bill makes it non-negotiable.
• Priority shift: Your goals come first, not last.
• FOMO-proof: You’re less likely to spend what you don’t see.

Example

Say you earn $1,000/month from part-time tutoring. You decide to pay yourself 20% - $200 goes straight into your savings account the moment money hits your bank account. What’s left covers everything else — bills, eating out with friends, and shopping.

How to do it:

1. Pick a percentage: While it’s good to save at least 20%, you can start with 5-10% if you’re not earning a lot and/or have high fixed costs.
2. The moment you get paid, transfer that amount to a separate account.
3. Use a second account you don’t withdraw from unless it’s for your goals. If you want to be more careful, lock that ATM/debit card away so you don’t have easy access to it.

And after a year, you’d have a sizeable amount of savings in your bank account like magic. Except, it’s not really magic — it’s just the flipping of priorities.

The good news?

The earlier you start saving, the more time you have to grow your money through compounding. At the end of the day, you will have more than what you originally saved!