10 mumpreneur secrets from Clozette co-founder Kersie Koh

May 30, 2017
  • 10 mumpreneur secrets from Kersie Koh
    1 / 11 10 mumpreneur secrets from Kersie Koh

    How does she do it? It’s a question that we find ourselves pondering whenever someone appears to be always on top of her game — whether it’s her career, her style, or how she juggles work, family and kids.

    The same can be said of one’s finances. We speak with Kersie Koh, co-founder of Clozette and mother of three, who give us a crash course on good saving habits, inculcating good money values in children, and more.

    Related: 7 ways to be a successful mompreneur or WAHM

    Load more
  • What kind of spender are you?
    2 / 11 What kind of spender are you?

    “I’m a careful, sensible spender. When I starting working, I would prefer to save up my pay than to splurge. Even now, I still feel pangs of guilt when I splurge on some self-pampering on occasion.”

    Related: 6 ways to increase your savings quickly

    Load more
  • Would you say you have good money-saving habits?
    3 / 11 Would you say you have good money-saving habits?

    “Yes, my parents inculcated my good saving and spending habits in me. They are extremely thrifty people.
    Toys and treats didn’t come easily when I was growing up even though my dad made a comfortable living as a teacher.
    When I turned 19 and was entering the university, they surprised me with an education endowment fund. I’ve been managing my own finances ever since.
    I love watching my savings grow in the bank. When I started working, I opened a second bank account so that one is for ‘savings’ and the other is for ‘spending’.
    I would diligently put aside about 70% of my salary into the ‘savings’ account — I saved a lot that way.”

    Related: 6 things you must know before you buy an education endowment policy for your child

    Load more
  • What are your top 3 rules when it comes to money?
    4 / 11 What are your top 3 rules when it comes to money?

    “Set targets on savings, set limits on spending. Things don’t always have to be expensive when you feel like you need a shopping fix. Be well prepared for a rainy day.”

    Related: These Singapore mums and dads turned their parenting problems into businesses!

    Load more
  • What is the best advice on personal finance you’ve received?
    5 / 11 What is the best advice on personal finance you’ve received?

    “It was probably from my dad when he gave me my education endowment fund. At the same time, he reminded me to use the money wisely as that was all they have for me.
    I really appreciated them planning ahead for me. I felt empowered yet I knew it was a big responsibility I shouldn’t take lightly.”

    Related: Why you should teach your child the value of money 

    Load more
  • Have your parents inspired you to do the same for your kids?
    6 / 11 Have your parents inspired you to do the same for your kids?

    “Yes, I find myself following in my parents’ footsteps. When my eldest turned eight and started to better understand the concept of money, I took her to the bank to open her first savings account and deposited all her ang pow money which I’d kept for her all these years.
    I told her that she can only use them when she turns 19.
    And yes, we intend to get education endowment plans for our kids. I think it’s a great solution for parents really, to not have to fork up a huge sum when the time comes.
    I often remind my kids how lucky they are, and it’s all possible because mummy and daddy work hard.”

    Related: How to teach your child about money

    Load more
  • Do you find it hard to resist splurging on your kids?
    7 / 11 Do you find it hard to resist splurging on your kids?

    “Yes, it’s hard to resist, and I really have to exercise self-control. While we can afford things for our kids, we don’t let them indulge easily.
    Goodies are only for special occasions, good behavior and good effort made in school. While I hold back on the material things, I do like to splurge on experiences with the kids, especially during school holidays when we would go to the zoo, aquarium, indoor playgrounds and their favorite restaurants.
    I think those memories are worth spending on.”

    Related: 10 signs you’re spoiling your preschooler

    Load more
  • How many credit cards do you own?
    8 / 11 How many credit cards do you own?

    “I own four cards, but actively use only my DBS American Express card which gives me good travel miles that I’ve used a few times now for short getaways.”

    Related: 5 best credit cards in Singapore for air miles

    Load more
  • Fill in the blank: ________ is a complete waste of money.
    9 / 11 Fill in the blank: ________ is a complete waste of money.

    “Nothing is a complete waste of money. If you can truly afford it, and it makes you happy, just get it.”

    Related: 3 ways to make more money in 2017

    Load more
  • I like my money where ____________.
    10 / 11 I like my money where ____________.

    “I like my money where I can see it. I like it in my bank. I like it spent on a home to call our own, a nice ride to office, rings on my fingers, and quality heels to stride in.”

    Related: 5 financial tips from a mommy money expert

    Load more
  • The last thing I bought to pamper myself is ____________.
    11 / 11 The last thing I bought to pamper myself is ____________.

    “An Indiba Facelift Treatment. Gravity is hard to fight when you’re turning 45. I think I deserve it!”

    Related: Top 10 membership cards in Singapore for the best rewards

    This article was originally published on SingSaver.com.sg, the fastest growing personal finance comparison site in Singapore.

    (Photos: Facebook/Kersie Koh and 123RF.com)

    Load more
how to make up with husband after fight

How to resolve arguments with your spouse, like celebrities Ella Chen, Angelababy

Liyana Dhamirah author of Homeless book about her homlessness and being a teen mum in Singapore

What is it like to be homeless and a teen mum in Singapore? New book tells…

Laura Lee first runner-up in Mrs Singapore pageant 2019

Mrs Singapore runner-up has 5 grandkids at age 44 – and she’s up for a business…

gorgeous hdb home singapore

What, no walls in this 5-room flat? Doting dad did it for daughter

celebrity Louis Koo bought a luxury yacht for his mother

Next-level gifts that celebrities bought their parents – including a hotel!

Latest stories

video kid-friendly guide admiralty park's playground

Video: Kid-friendly guide to Admiralty Park’s playground

mooncake promotions 2019

Mooncakes to buy for kids and families this mid-autumn festival 2019

4 ways to avoid toddler tantrums before they start

kids swear

When kids say bad words and swear: What you should do next

enrichment classes in Singapore

47 enrichment classes in Singapore for babies, preschoolers and primary school kids