Introducing our new Q&A series ‘Make Money Better’ where we spend five minutes with each of our judges, capturing their insights into the world of money awareness and inclusion.

The Woke Salaryman was created by Singaporean advertising duo, He Ruiming and Wei Choon Goh, and aims to help Singaporeans make better financial and life choices through education – even if it means deviating from conventional wisdom.

In the last few years, the duo have created an impressive body of work, with hundreds of thousands of followers using their advice, not just about how to make better financial decisions, but also how to clearly think through complicated decisions.

Meet He Ruiming, the writer in the team, who answers the MAIA Questionnaire:

• What first made you interested in understanding money and finance? If you had an “Aha” moment, where you felt you started to understand money better, please tell us about that.

For me, it was discovering the F.I.R.E movement as a jaded, lowly paid millennial, as well as the financial insecurity brought on by my mom suffering a stroke that same year. In some ways, my money journey was both a result of want, as well as a need.  

• Where did you find most of the important lessons you learned about finance? Online? From specific books? At home?

Growing up, my parents emphasised frugality, so that was always at the back of my mind.  I read most of what I now know online, comparing notes with different sources and forming my own opinions. 

• What made you want to help other people to better understand money?

I remember chatting with a few colleagues and discussing our finances when I was in my late twenties during a slow day at work. Some of them were quite shocked that I managed to save $100,000 by 28, and were curious about how I did it.

They commented that many of the current personal finance resources out there were complex, boring and didn’t appeal to them. I like my (ex)colleagues, so I thought it would be great to find a way to make personal finance content far more accessible, for them and for others.

• Is there one particular group or community you like to help with understanding money? Why did you choose that group?

I think helping Gen Z and Y figure out their finances will have the highest impact, because many of them will become the future leaders of tomorrow. The young people of the world want to change the world for the better; this change will surely need money. By understanding money’s role in society better, they are more able to enact the change that they want.

• Is there one book, influencer, academic or other sources of financial education material that you recommend more than others?

I read The Psychology of Money, by Morgan Housel and found it to be an incredibly good read.

• Which one tip do you share more than any others? 

Yes – the single best investment you can make is in yourself and your ability to earn a good income. 

People often get fixated on how to get the highest returns or get rich quick. But for most people working towards their first $100,000 or $1,000,000, their income is going to be that main driver of wealth.

• Has there been a single event you can look back at and say, definitely, that understanding money and finance led to a much better outcome in your life?

There’s a saying that goes like this: The more you sweat in peace, the less you bleed in war. Having six years to build up my finances during the pandemic saved me a lot of financial stress and insecurity.(I also managed to grow my money, so that’s good.)

• And a bonus question: do you have a guilty pleasure, something that you spend a little more money on than you think you should, but you get a lot of pleasure from it.

Definitely! For me it’s bicycles – I love to cycle to keep fit as well as travel (I took up long-distance bike touring sometime in 2015). It’s not exactly a guilty pleasure though, it’s a conscientious decision to spend on my wellbeing and stuff that I like to do. When all is said and done, money is just a tool to enable us to live the lives we want to lead.