This will be a short post to capture my thoughts about growing wealth in Singapore. In light of the recent Budget announcements, water prices will hike by 30% in two phases over two years. Thus, it is not matter of choice for Singaporeans to consider growing their wealth to beat the cost of living. All Singaporeans must start the journey as early as possible.

Stop tracking expenses

Early on in my wealth journey, I confess that I did track my monthly expenses and personal income religiously without fail. But I had stopped doing so after three years because I noticed there were no significant improvements in my personal cash-flow. Instead of enhancing my wealth, the quality of life inadvertently dropped as I suffered from guilt pangs whenever there were unexpected expenses incurred from friends’ outings or wedding dinner red packets.

After a while, I began to realize that my life should not be controlled by a spreadsheet…