At this year’s National Day Rally, Prime Minister Lawrence Wong spoke about building a “we first” society. In other words, he called on Singaporeans to look beyond just our own needs and focus on strengthening bonds, caring for one another, and pulling together as a community.
It’s a powerful idea, and the stories of Singaporeans stepping up showed what “we first” looks like. But here’s the reality: unity doesn’t take care of the bills. All of us still need to pay for groceries, manage mortgages, save for retirement… and the list goes on.
The “we first” mindset is inspiring, but in practice, we also need a “me first” approach to finances. Without solid personal foundations, how much can we really contribute to the bigger “we”?
1. Recap: What does “we first” mean?
In the final part of his National Day Rally 2025 speech, PM Lawrence Wong explained what a “we first” society really looks like. He was clear that the government cannot simply engineer this spirit. As he put it: “The government cannot force or direct this. But we can encourage and support, and we will certainly recognise and celebrate these efforts.”
He then highlighted Singaporeans who embody this mindset through ground-up initiatives:
- Yasser Amin, who started his own beach clean-up sessions at East Coast Park.
- Siti Adriana Muhamad Rasip, who co-founded the Empowered Families Initiative to help lower-income households with savings and peer support networks.
- Koh Seng Choon, founder of Dignity Kitchen, which provides employment and dignity for persons with disabilities.
These are the real-life examples of people stepping forward to care, contribute, and take responsibility for others, without waiting for government direction.
PM Wong stressed that if everyone only focused on “me”, society would fray. But when people prioritise the “we” by strengthening bonds, supporting one another, and shaping Singapore’s character together, then the “me” also thrives.
2. What does “me first” look like? Why does it matter?
But here’s the financial reality: even in a society built on generosity and community spirit, no one else can cover your daily expenses, your child’s education, or your retirement savings for you.
That’s where “me first finances” come in. And it’s not about being selfish. It’s about building stability so you don’t end up over-reliant on others. It’s about making sure you’re secure enough to support yourself and, by extension, the people around you. You know how, on a plane during an emergency, you’re supposed to put on your own oxygen mask before you help the children around you? Yup, same thing here.
Practically speaking, here’s what “me first” looks like in finance:
Emergency fund
Life happens. Your fridge breaks down, you face a sudden medical bill, or your company goes through layoffs. Having an emergency fund of at least 3–6 months’ worth of expenses set aside means you won’t panic every time something unexpected hits.
Retirement planning
CPF gives us a foundation, but it’s not magic. To retire comfortably, most Singaporeans will need to do voluntary top-ups, invest their CPF, or set aside additional savings. Think of it as future-proofing your lifestyle.
ALSO READ: Are Your CPF Savings Enough For Retirement?
Insurance protection
Healthcare support is improving, but hospital bills can still run into five figures. A solid health insurance plan and critical illness cover ensure your family doesn’t get derailed financially if something happens.
Investing for growth
Inflation doesn’t care how inspiring the rally speech was. It eats into your money year after year. That’s why investing, whether in ETFs, REITs, or other instruments, is essential for long-term financial growth.
Why does this all matter? Financial independence is the foundation that lets you give more freely, help others confidently, and avoid being a burden. If you think about it, being financially independent helps free up national resources for those who genuinely need help. In that sense, “me first” actually strengthens the “we.”
3. Can We Marry the Two? Is There a “Me and We”?
Absolutely. The truth is, “we first” and “me first” can (and should) co-exist. Think of it as a partnership—your personal financial responsibility actually strengthens the collective resilience of Singapore.
Here’s how the 2 mindsets can complement each other:
Investing in skills = Win-win
When you take up government-supported courses in AI, digital marketing, or healthcare, you’re not just securing your own career. You’re also contributing to a more future-ready Singaporean workforce.
Insurance = Less strain on the system
Having sufficient insurance coverage means you won’t have to lean too heavily on public resources if a major health crisis hits. That keeps the system sustainable for everyone.
Financial security = Freedom to give back
Ever noticed how financially stable people often have more time and energy to volunteer, donate, or support causes? When your house is in order, it’s much easier to extend a hand to others.
Housing and redevelopment = Both national and personal
Redevelopment plans may boost your flat’s value—that’s the national “we.” But whether you actually benefit depends on how you manage your mortgage, plan your retirement, and make financial decisions about upgrading or rightsizing.
So yes, it’s not “me or we.” It’s me and we. The stronger each individual is, the stronger the collective becomes.
4. Conclusion
During this year’s National Day Rally, PM Wong described to the nation the best of Singapore: citizens stepping up, caring for one another, and strengthening the social fabric. That’s what “we first” is all about.
But if there’s one other takeaway we think you should have, it’s this: community spirit doesn’t replace financial responsibility. Singaporeans still need to secure their “me first finances” by saving, insuring, investing, and planning so we’re not caught off guard by life’s curveballs.
And when we take care of our personal finances while contributing to the bigger picture, we get the best of both worlds. We set ourselves up comfortably and are also able to handle challenges more confidently.
So here’s the question worth asking after this year’s Rally: Am I financially prepared enough to play my part in the “we first” society? At the end of the day, the smart move is making sure your own safety net is strong before you try to catch anyone else.
This article was first drafted with the help of AI and later reviewed and refined by the author.
About the author
Vanessa Nah likes her finance articles the way she likes her sitcoms—light-hearted, entertaining, and leaving people knowing a little more about life. She believes money—like life—should be made simple. Outside of work, you’ll find Vanessa attending dance classes, fingerpicking a guitar, and fulfilling her life mission to make her one-eyed cat the most spoiled kitty in the world.