In this article, I will be sharing some of the most important money moves all women should be making and how it always pays to know how you can better spend, save and grow your money.

Whether you are financially savvy or you are new to managing your finances, it can be a frustrating and tiring ordeal to discuss your financial planning with the people around you.

Men don’t seem to have this problem as many white-collared professionals often talk about their recent job promotion, investment portfolio, recent property purchase, etc. As a woman, it can be difficult to grow your knowledge due to your network and access to information.

Hence, it’s important you become aware of and use these money moves to better your financial situation.

1) Do your own finances/budget

Before you can grow your wealth, you first have to know your expenditure. Knowledge is power! Sit down and think about what you prioritise in terms of spending and then set a budget on that category. Example: Clothes and Beauty Spending: $1,000, Travel Spending: $2,000, etc.

Once you’ve set a budget on all categories, stick to it! Don’t let your partner or your family nag you about your spending habits anymore. You can openly share with them that your expenditure on certain categories are only 10% or less of your overall income.

When you put these category budgets into a yearly plan, the amount spent will be more reasonable and it is a good way of keeping your own spending in check without having others remind you of it.

You can download a free financial planning guide at:

2) Reduce your taxes by investing in yourself

You can claim tax relief for taking up courses, seminars or conferences that are relevant to your current employment, business, profession or vocation.

For example, if you are currently working in business development and you take a professional certification in a course called “Digital Transformation: Business Development and Marketing” and the course fees of $2,000 are fully borne by you, then you will be able to declare it in your IRAS tax statement.

Not only will you get tax relief for the amount paid, the professional certification will also increase your value in your current company and any future organisations you may work with.

3) Plan for your own retirement

You don’t have to rely on others for retirement planning when you can understand how to do it yourself!

Business Insider reported in a 2019 article that “70% of respondents did not believe they could maintain their current lifestyle during retirement.” This report stressed that not saving for retirement early was one of the main reasons that affected one’s retirement readiness.

To avoid that, you should start planning for retirement as early as you can. If you delay planning then you may run the risk of not being able to retire when you want to and at the standard of living that you were hoping for.

You can take a simple quiz on the PolicyPal Mobile App to see what are the expenses that need to be covered. In a matter of minutes, an email will be sent to you with a financial report summarizing all your current expenses as well as your dependents’ expenses.

Once you have the report, you can start planning and setting aside a portion of your income to your retirement. That way you would not have to rely on anyone for money during your golden years, all thanks to proper planning on your part!

As your needs change, we recommend reviewing your financial portfolio at least once a year.

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