“I Save Over 80% Of My Income”: This 26-Year-Old Shares How Being Frugal Now Sets Up Her Filmmaking Future

The winner of Moomoo Money Master talks balancing a career in finance with her passion for the arts

There’s a formula to living the good life in Singapore. You study hard, go to university, and then get a “good-paying” job in STEM, healthcare, law, or finance. You slog through the 9-to-6 grind for a few decades, and somewhere in between, you get married, buy a home, and start a family. 

Letting passion motivate your career goals is typically frowned upon, especially if said passion draws you to the arts. Say you want to make films for a living, and you’re signing yourself up for disdain, side-eyes, and remarks like, “Huh, can make money one meh?” at every family gathering for time immemorial.

Growing up in a conservative Chinese household means Cheryl Lim is all too aware of this reality. The 26-year-old has always been passionate about acting and filmmaking but understands the struggle of building a financially viable career in these fields. Like many other budding Singaporean filmmakers, Cheryl balances her artistic endeavours with a day job in a more conventional field.

She currently works as a financial advisor at Prudential. A career in finance consultancy has turned Cheryl into a bit of a “finance geek”, despite growing up an “artsy person”. While she currently straddles polar opposite worlds now, Cheryl has big goals of financial freedom, which will allow her to pursue her filmmaking dreams and support her elderly parents. 

Recently, Cheryl put her financial acumen on full display when she won Moomoo Money Master, a new investment-focused reality game show in Singapore. After her win, we sat down to talk to Cheryl about becoming financially literate, her frugal living philosophy, and the sacrifices she is now to pursue a future in film.

What do you work as now? 

I have been at Prudential as a financial consultant for almost four months. Alongside this, I’m also dedicated to developing my passion for filmmaking and acting, which has been a creative outlet and source of personal growth for me. Looking ahead, I hope to keep growing in both finance and the arts, finding ways to inspire and make a difference in each field. 

How long have you been investing?

 

I started investing 2 months after I turned 22. I was fortunate to have been exposed to investment concepts and processes during my internship at Endowus, back when it was still a startup in 2020.

My investment journey has been full of ups, downs, and countless lessons. In the beginning, the learning curve was steep. During my university internship, my boss rated me as having the least investment knowledge on the team, but he assured me I’d improve over time. By the end of my internship, I was looking at investing with fresh, curious eyes—it was like discovering a whole new world.

What is the best decision you have made for your finances?

It’s not a single decision, but rather a habit built over time. One habit I’m proud of is tracking my finances closely—I can account for every cent of my expenses and income each month over the past 7 years. This practice has made me much more mindful of where, when, and how I’m spending. With multiple investments and income streams, having this system in place helps me keep a clear view of my cash flow, making it easier to optimize along the way.

“I can account for every cent of my expenses and income each month over the past 7 years.”

Another decision that might resonate with readers is taking the first step into investing. I come from a very conservative family, where my parents think of investing as gambling. Thus, there was that lingering fear of taking the plunge because of the high perceived risk. But I’m glad I did so 4 years ago, and from then on managed to advise my family to take baby steps in their investment journey as well.

What is the best decision you have made for your finances?

Can I give you two perspectives? For me, the biggest mistake with money is letting greed take over. The desire for quick gains can lead to impulsive decisions, and it’s easy to get caught up in market hype. I’ve come to value discipline and patience over time.

From my family’s perspective, they’d say I tend to over-save. I’m careful with spending—whether it’s on food, travel, or experiences—and usually save over 80% of my income. I believe in the power of compounding for the future, but I realize this approach has meant missing some of life’s experiences along the way.

“My parents are still working very long hours despite being in their 60s, and I hope to provide some relief in their retirement years.”

Source

What are you building wealth for?

I’m building wealth for my future! Of course, this future includes my dear family. My parents are still working very long hours despite being in their 60s, and I hope to provide some relief in their retirement years and spend more time on family outings and trips before anything changes in the future. 

Eventually, I hope to build enough wealth to freely pursue my dream. I’m passionate about achieving financial freedom to pursue my passion for life and filmmaking.

Also read:

Watch Moomoo Money Master here.
This interview was originally conducted by Tammi Tan of MSN.