Getting rich is never really “easy”, especially when you are chasing it on your own. On top of that, it’s not just about the amount of hard work you put into that goal; even things such as your upbringing as well as your unconscious thoughts and beliefs on money will affect your progress.

Thankfully, there actually are ways to make your way around obstacles like this. When it comes subconsciously, the trick is, well, to trick it. Here are 7 ways to do it:

  1. Automate your savings.

Before you spend all your month’s income and have a problem with your spending, perhaps due to a hard-to-control impulse to buy, you can choose to automate your regular deposits to your savings account.

This way, your savings are safe and sound in your bank account before you get your hands on them. Visit the nearest branch of your bank to inquire about this option.

  1. Use cash more often.

What we use when we spend affect how we perceive money and their value as well. Obviously, when we use credit cards, it is easier to overspend; this is because you do not see your money being spent. It is for this reason that we suggest avoiding the use of credit cards, or, use them only when you have to.

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  1. Use your coins/smaller bills first.

You might not notice it, but people, in general, tend to be less careful when spending their smaller bills or coins. How does this trick work? When you run out of smaller bills, many tend to rethink whether or not the object to be purchased worth breaking the bigger bills for.

Of course, this does not work all the time; it might also not work for those who are so used to spending a lot all the time anyway. However, this is a helpful trick for those who tend to be organized or those who do not like having a lot of coins or small bills in their pockets.

  1. Have more than one bank account.

Your bank accounts should not be limited to your payroll and savings account. Think of the different things and goals you are planning to save for such as retirement savings, emergency savings (which, by the way, is your reserve money and should be able to cover you for 3-6 months in the case of unemployment and other unforeseeable events).

This will help you track your progress and how much you have for each goal/account easily. It is also harder to use your other savings for everyday expenses and shopping this way.

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  1. Set goals and visualize them constantly.

If you do not know clearly what you are saving for, the more you will find it difficult to do so and get over the temptation of spending. That is why, before anything, it is essential and very much helpful for you to know your goals.

In here, we do not mean vague, broad goals such as “getting rich”; my goals, we meant the things you want to save for and the things you want to achieve. When you try to examine what exactly your goals are, we advise you to think long term instead of thinking about what you want to have next month.

Ask yourself: where do I see myself 10, 20, or even 30 years from now? At the same time, you have to be realistic about the goals you set for yourself.

It might be helpful to write them on your planner/diary/a piece of paper, as long as you can quickly take a look back at it to remind yourself of your financial goals, especially when things do not go as planned or the temptation to spend is bugging you.

  1. Clear your credit balance and other debts.

Do this, of course, without tapping into your other funds like retirement savings and emergency funds. Start fresh and start and keep habits that will keep you from having any more debts in the future such as refraining from using your credit card, planning your budget regularly, putting more into your savings accounts, and investing.

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  1. Make financial decisions or budget plans when you are in a positive mood.

It is no news that extreme emotions such as anger and high levels of stress make one careless. That is why you must avoid making financial decisions and plans after a rough day at work or after an argument with your partner.

Studies show that our mood has an effect on our financial decision-making and planning. For one, it can make an investor think too optimistically regarding her stocks; while being optimistic is not wrong in itself, being too confident in investment and business can lead you to lose more than you are gaining.


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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


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