Anonymous

12 May 2021

∙

If your take home pay is $1.5k, is it ideal to save 60% of your take home pay?

I save for about $1k for every month, I have 3 sets of accounts with POSB/DBS.

Savings account - DAILY SPENDINGS
POSB SAYE - During savings for ns but ord already should I close it?
DBS REMIX ACCOUNT - EMERGENCY FUND ACCUMULATED $18K, should I close and open up a new account? Have it more that 2-3years.

My main 2019 goal is to make $12k savings for the year end. But how do I be realistic to make it grow?

6

Discussion (6)

What are your thoughts?

Learn how to style your text

Li Elizabeth

24d ago

Use tbill to help grow the saved amt

Reply

Save

Oh ChengKok

12 May 2021

Financial Services Consultant at AIA Singapore

I think it is a very good habit to save XX% of your income consistently. If you have a goal to save money, make sure you earn some side hustle money (be it tuition etc) to make your goal realistic.

Reply

Save

Gabriel Tham

07 Jun 2019

Tag Team Member at Kenichi Tag Team

You can try CIMB Fastsaver account for 1% interest rate.

Or you can put some emergency funds into...

Write your thoughts

Related Posts

26 years old just started working with less than $1.5K take home pay right after national service. How much should he be saving already? Is 20K good enough? And should he find a better job or stick for another year for a better portfolio?

With a take-home pay of $1.5k, what are my realistic options medical & life insurance, and saving plans (if any)?

Take-home pay is 9,1k per month,1.5 goes to folks 1.5 is used for personal+household expenses per month i am 47 years old now just paid off hdb, Savings is only 80k in OCBC how to maximise this?

Is it enough to survive with a salary of $2K before CPF deduction, take home is about $1.5K, if it’s enough, please share more on tips of surviving and saving?

I have $5k take home pay each month. Plan to allocate $1.5k to investments - already putting $200 in Stashaway and $300 in NIKKO STI ETF. Interested in Equities?

Related Posts

26 years old just started working with less than $1.5K take home pay right after national service. How much should he be saving already? Is 20K good enough? And should he find a better job or stick for another year for a better portfolio?

With a take-home pay of $1.5k, what are my realistic options medical & life insurance, and saving plans (if any)?

Take-home pay is 9,1k per month,1.5 goes to folks 1.5 is used for personal+household expenses per month i am 47 years old now just paid off hdb, Savings is only 80k in OCBC how to maximise this?

Is it enough to survive with a salary of $2K before CPF deduction, take home is about $1.5K, if it’s enough, please share more on tips of surviving and saving?

I have $5k take home pay each month. Plan to allocate $1.5k to investments - already putting $200 in Stashaway and $300 in NIKKO STI ETF. Interested in Equities?