Sumiko at 62: Rethinking Frugality After a $6,900 Vet Bill

Singapore, Singapore Jul 21, 2026 ALN: When my family decided to adopt another dog from a shelter in 2024, we chose a pomeranian. Princess had the sweetest face, but her coat was thin and dry. A visit to the vet revealed she had an autoimmune disease. Her body was attacking her own red blood cells, leaving her dangerously anaemic.

She was treated with steroids and, after six months, improved enough to be weaned off them. However, the challenges of pet ownership often come with unexpected turns, and Princess's health journey was no exception. Just three weeks ago, she had a relapse. She became seriously ill, spent four nights in hospital, required a plasma transfusion, and is back on steroids. The bill came up to $6,900, and each weekly blood test costs about $200.

We love Princess very much, and every extra day with her is a gift. I don’t begrudge the money spent on her care, but the large bill was alarming. It served as a stark reminder of the financial responsibilities that come with pet ownership, especially as I approach retirement. The closer I get to retirement, the more conscious I have become of whether my money will last for the rest of my life. My instinct has always been to save. I build financial security conservatively, through fixed deposits and my Central Provident Fund savings. The $6,900 expense shook me.

Then I had an epiphany. All my life, my dogs have brought me the greatest joy. In many ways, they have given me more happiness than most of my human relationships. Vet care is inevitable when you have pets. Instead of treating every big bill as a knock to my finances, what if I were to view them as a planned expense? For my three dogs, that would mean consciously setting aside, for example, $12,000 a year for emergency medical care. Seen in that context, the $6,900 bill feels less like a setback and more like money well spent on something I deeply value.

This realization set me rethinking my broader approach to spending. Are my expenses truly aligned with what matters to me? I would not describe myself as a careless spender. I think hard before I make a big-ticket purchase. I am not drawn to expensive restaurants or wine – I don’t even drink. When I travel, I fly economy, though I enjoy nice hotels. I have no interest in the latest gadgets or appliances. I don’t buy fine jewellery or luxury watches. I only have one watch, a splurge I made with my first bonus in 1985.

However, my weakness lies elsewhere. I spend freely – mindlessly – on everyday clothes, shoes, and home accessories. If I like something, I buy it in different colours or in multiples, so I have backups. I follow trends and I buy in anticipation of opportunities to use them. My spending gets especially out of hand when I see the word “sale” or “limited stock.”

I started shopping online only during the Covid-19 pandemic because I needed to stock up on face masks. Since then, I have become hooked and tend to buy impulsively, leaving many items sitting unworn in my wardrobe. These are not designer brands, but high-street labels, so each purchase seems modest enough. But together, they amount to a surprisingly large sum. More importantly, they leave me with a niggling guilt that, even at my age, I haven’t learned to control this part of my spending.

At this mature stage of my life, I want to change that. My worry that I won’t have enough money in retirement is not unusual. After decades of building wealth, the prospect of living without a regular paycheck can feel deeply unsettling. Harder still is accepting that the savings you have spent a lifetime accumulating are now meant to be spent. Inflation, longer lifespans, and rising healthcare costs have reinforced this caution. More than one in two Singaporeans at age 65 are expected to live beyond 85, which means you are looking at at least 20 years of funding your life without a regular paycheck should you retire in your mid-60s.

Chez Anbu, head of wealth advisory at OCBC, says some retirees are financially secure but live as if money could run out tomorrow. This mindset is understandable, he adds. “Even if they have enough assets, psychologically, it can be very hard to move from accumulating wealth to drawing it down. Every dollar spent feels like a dollar that cannot be replaced.”

Frugality in retirement does not have to mean cutting back as much as possible, Anbu says. “Good frugality is not about making life smaller. It is about being deliberate,” he explains. “There is a big difference between cutting waste and cutting out what you enjoy and what motivates you.” He suggests thinking about spending in four categories:

• Essentials such as food, utilities, healthcare, insurance, and housing;
• Spending that supports health, independence, and social connection, such as exercise, physiotherapy, better nutrition, or hiring a helper;
• Spending that brings joy and motivates you, such as travel, hobbies, and family meals; and
• Wasteful or unconscious spending, such as on subscriptions you don’t use or habits you no longer enjoy.

The mistake, he says, is cutting too deeply into the first three categories. “Health, mobility, and social connection are not luxuries in retirement, but part of aging well. Instead, cut spending that no longer supports the life you actually want.”

To make spending in retirement feel less daunting, Anbu recommends giving every dollar a purpose. For example, keep two to three years’ worth of expenses in liquid and stable assets, and maintain a separate pool invested for long-term growth. He advises paying yourself a monthly “retirement paycheck,” instead of dipping randomly into savings or investments. You can do this by transferring a fixed amount into a spending account. “This makes retirement feel more normal – like you continue to draw an income – and reduces anxiety,” he says.

It is also a good habit to place your assets into “buckets,” such as near-term spending, income, emergency reserves, and long-term growth. “When everything sits in one large account, every expense feels painful. When money has a role, spending becomes easier to visualize and manage.”

As I reflect on my financial habits and the lessons learned from Princess's health crisis, I realize that it is essential to align my spending with my values and priorities. This means embracing the expenses that contribute to my happiness, such as caring for my pets and investing in experiences that enrich my life, while also being mindful of unnecessary expenditures that do not serve my long-term goals. By adopting a more intentional approach to spending, I hope to create a balanced financial life that allows me to enjoy my retirement without fear of financial insecurity.

In conclusion, navigating financial decisions in retirement requires a shift in perspective. It is about finding a balance between enjoying life today and ensuring financial stability for tomorrow. The experience of managing unexpected vet bills for Princess has taught me that while frugality is important, so is the joy that comes from spending on what truly matters. As I move forward, I aim to embrace a spending philosophy that reflects my values, allowing me to live fully while being prudent with my finances.