With over 11 years of editorial experience and publications in renowned websites such as Refinery29.com, Buzzfeed and Bustle, Faz Abdul Gaffa has established herself in the digital content industry.
Additionally, she also worked as the editor at Sassy Singapore and style editor for inSing.com, Faz moved to L.A. for two years where she worked as O.P.I Products US Digital & Social Media Manager.
Although today, Faz is still practising her expertise in social media and content curating, she works from home and gives her utmost attention to her 5-month old baby boy she lovingly calls Brownie.
Through her blog, Faz has shared her daily achievements and struggles with work, travel and beauty but has shared that her greatest achievement and struggle thus far is the full-time job of being a mother.
The young mom who not only works tirelessly but also enjoys adrenaline-filled adventures and gruelling work-outs said,
“I never knew exhaustion until I became a mom!”
What are the top two financial goals you have in 2018?
I would like to get out of debt (5k in remaining student loans) and I would like to start a savings account for my newborn.
How would you describe your relationship with money and financial management? Has this evolved?
I have been a freelance writer for most of my work life so I haven’t had a steady income. I save what I can where I can.
How would you describe your current financial situation? Are you satisfied with it? If not, how would you describe your ideal financial situation?
Even though, I have never received financial advice before. I think that it’s time I take control. Therefore, I would like to have a firmer hold on how much I spend on the various things in my life.
How do you manage your monthly income?
I pay my bills first, set aside 10% to my savings account, and the rest goes to baby expenses, groceries, health-related activities.
What are some of your most pressing financial concerns?
I would like to get out of debt!
Financial freedom means different things to different people. Personally, what does being financially free mean to you?
Being debt free!
In your opinion, what are some financial planning habits working mothers in Singapore should consider?
When it comes to being a first-time mom, expenses are all new and foreign and you want the very best for your child. Right at the very beginning, my son had reflux issues and I spent a lot of money on basically anything that would help him. I wish someone had told me that I needed to set aside more money “just in case”.
Have you done any financial planning for your son? If not, why not?
Aside from a few hundred in a savings account, no. I haven’t had time to do so.
What financial challenges do you face as a working parent?
How to give my child the best of me and my husband’s income.
How do you balance your job as a social media manager and a first-time mom?
Honestly, I’m still trying to figure it out. I’m a freelance work-from-home mom and I want to have only one child, so I want this year to be about him. My work is now of a lower priority because of this focus, and obviously, this means that my income will take a dip.
This means that travel, or my husband and my plans to buy a home will take a step back, and that’s okay for me.
Did you face any financial struggles during and/ or after your pregnancy? If so, how did you overcome them?
No, I didn’t experience any financial struggles thankfully.
Having previously lived in L.A., Australia and New Zealand, why did you choose to settle down in Singapore to start a family?
Having my parents in Singapore was a major factor, and the fact that I understood the public healthcare system well made me want to have my child here. We lived in LA before we relocated back and honestly, compared to what we have here, the healthcare system there is a mess!
The baby bonus is also a major plus!
Were there any major financial adjustments you had to make after moving to Singapore?
We rented a place when we moved back and our rent in Singapore is a lot more expensive than LA.
What is some financial knowledge about motherhood that you would like to learn?
How to effectively save for my kid’s future education!
What are some financial fears you have in relation to your son? Have you prepared for such circumstances?
Being freelance means I can get paid less one month and more the other. It helps that I have a partner who supports my decisions in providing my son with the best we can give him
Do you have any concerns, when considering setting up a savings plan (for their education and other significant milestones) for your children in the future?
I’m not sure what concerns there should be?
Mothers sacrifice a lot for their children. How do you balance your personal needs with that of your child?
Again, I haven’t figured that out. Every bone in my body is aching, I haven’t had a full night of sleep and I’m longing to have time away but the fact that we don’t have a helper, we live with my ageing parents and that I’m his primary caretaker means I take him everywhere with me.
With Faz still finding her mojo with Baby Brownie, Timothy is excited to share his financial and parental knowledge to the new mom.
Timothy is the co-founder and managing editor for dollarsandsense.sg, a personal finance website that aims to help people make better financial decisions.
As an Economics and Finance graduate, he firmly believes that it is time to change the way people approach financial matters in Singapore.
He got his B.Sc from the University of London where he not only graduated with first-class honours but was also the president of the Investment & Networking Club. Tim also holds a diploma in Communication and Media Studies from Nanyang Polytechnic.
Tim is happily married and has an 11-month old daughter, Natalie aka Sib.Recommend0 recommendationsPublished in #SavvyUpTogether - Savvy Up Together, Singapore, Money Savvy, Interviews