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I tried creating one joint savings account with my girlfriend a few months and apparently the bank told us that we need to have the same resident address to be able to open a joint savings account.. Do take note
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Equal amount before marriage, assuming the account is used for common purposes
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HC Tang
25 Sep 2018
Financial Enthusiast, Budgeting at The Society
As nothing is 100% sure before marriage, where we've seen many of our friends lost their deposit for HDB due to change of mind but already committed to HDB.
$ is also the 1 reason by couples/marriage falls apart.
So the best way to save together is to:
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Help each other to learn to budget and save each month
Keep the $ in own high interest account (eg. DBS Multiplier) or in SSB (since it is 1 to 3 years durations before marriage)
Amount to save, invest and expenses, can refer to seedly guide:
https://blog.seedly.sg/working-adults-allocate-...
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Agree that the above doesn't pool funds together for higher interest, but it is more of self disciplin to start savings, investment and keep expenses at bay.
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Being able to practice good budgeting and financial managment helps in the future when it comes to wedding planning, after marriage family financial management.
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With that financial / budgeting learning experience when one is single, one can continue and excel even better without entanglement after marriage when resources is pool together.
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I think it depends. if your salaries are similar to each other's, then i think a 50/50 contribution ...
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Never mix money and relationship tgt when marriage is not yet on the cardsβββ