Me & My Money

Finance exec avoids consumer loans, believes in spending within one's means

Ernest Chew of Carro warns against overspending on luxuries, says cars are not a good investment

Carro chief financial officer Ernest Chew says he avoids consumer loans, and believes those who cannot afford something should not over-leverage themselves. PHOTO: COURTESY OF ERNEST CHEW
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Being disciplined about spending and keeping within one's means - these are the key principles which financial executive Ernest Chew holds dear.

"Do not have a financial plan revolving around debt, particularly on depreciating assets," cautions the 39-year-old, who is executive vice-president and managing director as well as chief financial officer at automotive marketplace and car financing start-up Carro.

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A version of this article appeared in the print edition of The Sunday Times on January 10, 2021, with the headline Finance exec avoids consumer loans, believes in spending within one's means. Subscribe