How do u all save money?

[y2kbug]

Just curious how the hwz member save money? For me I have POSB mysaving account and plus posb invest saver account. How about the rest ? Just want to learn how u guys grow ur money. Singapore saving bond not for me as I don't have large cash on hand hehehe

 

[RetRace]

Take a look at ST's thread you will know

Sent from Samsung SM-G900F using GAGT

 

[Perisher]

Make good use of CC, every year signing up CC = free $$. After 6-12month just cancel.

Check out OCBC 360 or BOC smartsaver etc... if it fits, it's easily 3%p.a.

Corporate bonds like
http://www.sgx.com/wps/portal/sgxweb/home/marketinfo/fixed_income/bonds
slightly higher risk than government bonds but much less risky than stocks.
Just pick those better companies.

SSB, CPF and A35 are government stuff so naturally comes with a lot of restrictions.

Those above are the basics.

 

[mcylo]

i have some edowment policy. Also eMSA account

 

[dcloud]

Just curious how the hwz member save money? For me I have POSB mysaving account and plus posb invest saver account. How about the rest ? Just want to learn how u guys grow ur money. Singapore saving bond not for me as I don't have large cash on hand hehehe

savings - mostly in bank or insurance (endowment policy)
usually savings is lower or barely beating inflation only.

if you are thinking of growing your money, then have to think about investing..

 

[Darkzi0n]

ocbc 360 + ocbc 365 cc to earn interest and cashback.

set weekly and monthly budget. save the rest.
invest whatever i saved whenever opportunity comes.

 

[Laneige]

insurance saving plans

regular savings

right now i am keeping tab of my expenses (dinner etc) and having an app running. need to set aside money and from there everyday see can spend how much for dinner
no more everyday restaurants liao!!!!!!!

but i plan to buy stocks when they drop till no one buy

 

[spiritGate]

Ocbc360 and uob one, every month give me 120 so one year around 1440. Then plus a bit of dividends will raise up to 1500 per year

Sent from sent from gagt using GAGT

 

[Darkzi0n]

Ocbc360 and uob one, every month give me 120 so one year around 1440. Then plus a bit of dividends will raise up to 1500 per year

Sent from sent from gagt using GAGT

wah 120/mth. ur savings must be quite a lot.

 

[peterchan75]

Income = Spending + Saving
Control ones' lifestyle(mostly habit and ego) and that will bring the spending beast under control. Using the saving to generate more income. Over a long time, one will be filthy rich.

 

[hwarzoner]

after setting aside my monthly expenses, 99% of my spare money all in esaver and 1 % in phillip MMF

 

[JJJ010101]

Topic is how we save money, but your question is how we grow money.. I kind of see these as two different things..

save money involves budgeting, list down fix expenses monthly and how much you're comfortable to set aside. I also use ocbc360+365card combination here

grow money involves investing.. more long term. suggest read ST's thread

for me quite typical structure in order of importance:

1) Emergency fund
2) Term insurance
3) Short term big purchases(house,wedding,etc.)
4) invest the rest

 

[mummy1234]

I use ocbc 360 account and UOB one account. Dividends and rental income are other sources of passive income. I consider my insurance and property mortgages as a form of savings cum investment too.

 

[Genesisz]

And of course, one needs to be disciplined to do all that you mentioned.

I usually park my savings immediately after the income comes into my account. Not tomorrow or next day. Then I will set aside some for spendings and payment. Finally, I will use the apportioned (which I had planned and budgeted) for my daily usage.

Income = Spending + Saving
Control ones' lifestyle(mostly habit and ego) and that will bring the spending beast under control. Using the saving to generate more income. Over a long time, one will be filthy rich.

 

[starfish.starfish]

Biggest way to save money - learn to cook.

 

[pcmdan]

i think learnig how to earn is more impt than learning to save.

Save only can save that much but if u can earn faster than u spend...den no need worry liao haha

 

[qhong61]

Biggest way to save money - learn to cook.

But buy fish, prawn and sotong from market also not cheap. More expensive than buying from food court or coffee shop.

 

[qhong61]

i think learnig how to earn is more impt than learning to save.

Save only can save that much but if u can earn faster than u spend...den no need worry liao haha

How to earn?

 

[hwarzoner]

1) investment
2) doing business
3) earn higher salary
4) put in higher deposit rate account than normal savings account

 

[peterchan75]

1) investment
2) doing business
3) earn higher salary
4) put in higher deposit rate account than normal savings account

There is risk in 1,2,3 and 4. Controlling spending always work in good and bad times.