3 Financial Mistakes I’ve Made, Even as a Fresh Grad Who Takes Care of Her Finances

I track my expenses. I save more than 35% of my paycheck. I pay my credit card bills in full. I still made these mistakes

Context: I take care of my finances.

I track my expenses.

I save more than 35% of my paycheck.

I pay my credit card bills in full, on time.

I invest through dollar-cost averaging.

That said, I still made rookie financial mistakes which you can avoid, from reading about my mistakes.

Mistake #1: Unnecessary Prolonging of 0% Interest-Free Instalment Plan (IPP).

0% IPP sounds harmless, doesn’t it?

Younger me was at Challenger, about to make cash payment for my new phone in full, when I was lured by this sign which says “0% IPP for DBS Credit Cards”. I saw it as a way to “spread out my pain” over time. Indeed, it was.

What I would have done differently, is not to NOT take the IPP, but to NOT drag it out over time.

When given the options to go for 6 months/1 year/1.5 years/2 years (all of which are 0% IPP), I thought… why not drag it out since there’s no interest…