How do i start to boost up my finance in my situation?

1) Ensure you have insurance to cover the risk of unemployment e.g. Hospitalisation, Critical Illness, Personal Accident. Cover these first before giving your savings a boost.

Because when shit hits, no amount of savings or its boost will help. Our savings are too little for the huge amount of medical treatment required. Everyone has insurance, including the rich. This is wealth preservation. I'd think no one likes to touch savings (even if someone has a million), if the risk can be passed on to the insurer for a reasonable fee.

Go for term insurance, so that the monthly premium costs are low and coverage are high.

2) Increase your income.
---> Increase the value you can bring to your employer ---> Upgrade relevant skills and knowledge

3) Save more. Cut down on discretionary expenses. Put into higher interest savings account.

4) Optimise #2 & 3 well.

5) If you want to make your money work harder (a.k.a. investing), you can dollar cost average monthly into a portfolio with robo advisor.

Do note it comes with risk that your portfolio may see a loss, as it is exposed to the rise and fall of the market.

All the best!

Hey there.

Putting your savings in high-interest savings account is a way to beat inflation and increase value.

Choices that do not require spending/minimum sum include:

Singlife Account (2.5% p.a, capaital guaranteed, interest non guaranteed)

FSM Auto-Sweep Account (1.05%p.a, interest rates may be revised)

Stashaway Simple (1.9%, capital non guaranteed, interest non guaranteed)

SCB JumpStart (1%p.a)

Crypto.com Crypto Earn (Depending on currency, as high as 16%p.a without any prior staking. However, do take note of the volatility of cryptocurrencies)

Vivid Account (1.05% p.a for first 10k, 1.30% for 10k-20k)

CIMB FastSaver (Revised rate of 0.5%, down from 1%)