![](https://i.imgur.com/CLvY2jA.png")
25-08-2023, 10:38 AM
https://www.todayonline.com/singapore/pe...ox-2238811
Mr Tan believes many people overspend and are left with little to no savings. Despite his wealth, he often buys things from lesser-known brands that are still of “quite good quality”, and he does not drive a car.
“Public transport is more convenient, it's also much cheaper,” he said. “I get to meet people on the bus and the train, and I can see what life is like for ordinary people. So I do encourage young people, don't overspend. Be frugal and have savings.”
This philosophy of living simply comes up often in Mr Tan's blogs and in his posts on social media where he regularly takes photos of his hawker centre meals, which he has almost every day.
He has also been outspoken about how he ran NTUC Income in a similar vein, where operating expenses were kept low and higher bonuses went to policyholders instead of top management.
While he did not elaborate on where this proclivity for frugality has come from, Mr Tan has implied on his blog that it stems from growing up with humble means. He chose to leave school after Secondary Four to work in order to support his family who lived in rental rooms throughout his youth.
Mr Tan believes many people overspend and are left with little to no savings. Despite his wealth, he often buys things from lesser-known brands that are still of “quite good quality”, and he does not drive a car.
“Public transport is more convenient, it's also much cheaper,” he said. “I get to meet people on the bus and the train, and I can see what life is like for ordinary people. So I do encourage young people, don't overspend. Be frugal and have savings.”
This philosophy of living simply comes up often in Mr Tan's blogs and in his posts on social media where he regularly takes photos of his hawker centre meals, which he has almost every day.
He has also been outspoken about how he ran NTUC Income in a similar vein, where operating expenses were kept low and higher bonuses went to policyholders instead of top management.
While he did not elaborate on where this proclivity for frugality has come from, Mr Tan has implied on his blog that it stems from growing up with humble means. He chose to leave school after Secondary Four to work in order to support his family who lived in rental rooms throughout his youth.
