facebookHow do you split your money into separate bank accounts for savings, investing, spending, salary credit and which bank accounts are you using? - Seedly

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How do you split your money into separate bank accounts for savings, investing, spending, salary credit and which bank accounts are you using?

Started working full time just last year and i heard this is a good practice and I really hope to review this process for myself this year and automate it possibly. Currently:

  • DBS multiplier for salary, savings, investment funds
  • OCBC 360 (upgraded from Frank in uni). Not really used now.
  • Standard Chartered JumpStart, Singlife for higher interest

Please share how you split your money into separate (and which) bank accounts for savings, investing, spending, salary credit etc!?

Need some advice please! Thank you.

Discussion (19)

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With today's apps, you may quickly divide your money into several savings accounts for specific costs, such as auto repair savings. With automated deposits, you can put your savings on autopilot. Also, keep in mind that you can't spend what you don't see. To save even more, try allocating a portion of your income to debt repayment. Get the necessary information on unhealthy behaviors and strive to avoid them at all costs. It will help you save a significant amount of money at https://easyqualifymoney.com/cash-loans-wired-i... .

With current apps, you can easily split your money into separate savings accounts that are saved for specific expenses, like savings for an auto repair. Put your savings on autopilot with automated deposits. And remember, you can't spend what you don't see. You might also want to consider putting an extra amount toward debt repayment to save even more. One should get the required info about bad habits and try to avoid them altogether. It will save you a lot of money.

I use the following accounts:

Standard Chartered Jumpstart: For expenses as it gives me 1% cashback for debit card spends. It also gives 0.4% p.a. on your balances so that's nice too.

OCBC Frank account: I do not put money in this account, I transfer money from my Jumpstart account into OCBC for the ATM convenience and withdrawals only.

POSB Savings: I've had this account since I was young, and I just keep this for the ease of receiving payments via DBS Paylah!, which everyone seems to have nowadays.

Singlife: This is my savings account. Every month, I transfer a fixed amount of my allowance and salary into Singlife to earn the soon to be 1.5% interest p.a.

Syfe: I use the Equity100 portfolio as my main investment holding, and I DCA into this portfolio monthly.

FSMOne: I use FSMOne for my individual stocks/ETF purchases for their low fees.​​​

Sharing mine!

I use a hybrid of accounts for different needs and purpose.

UOB ONE- $500 credit c...

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