Any tips on increasing couple's savings in the next one year for a big purchase towards Q4 2024? Both are pretty cash poor i.e. each have around 20k in bank

Start a joint account and pour in money into that pool and have a bi-weekly meeting to look at the funds growth. I suggest UOB stash.

If having a combined income of yours, u have lots of options to save, can't imagine why u can't save for upcoming resale, cut down ur unnecessary wants/ spendings.

Hi Jack. I must say, 20k each and still have some good amount parked at investment are already perfect foundation there.

For a 4 room resale? HDB yea?

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This isn't going to break your bank if you are not looking at extra prime location.

Going towards newly MOP close to city fringe might requires a 800k while those of a decentralised precinct may just be around the range of 550k-600k

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For a property is itself a forced-saving vehicle when you leverage on the right tools and method, you both really do not need to worry much on the purchase.

For HDB uses MSR to calculate your loan and affordability, it is often safe to take that as benchmark and guide you ahead.

Go online HDB resale portal and apply for a HFE letter to understand better.

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Keep most of the CPF and try to repay in cash if you know what I mean.

The CPF OA interest earned is going to be great savings in the long term.

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I'm glad to be sharing here.

My name is Henry from Propnex Singapore.

If you do need more assistance, simply ring me up 87sixsixsix8sixsix 😊😊

Set an forced amount to save into a separate account, use high yield savings