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Anonymous
By putting your money in a high-interest savings account, what do you do with that interest that you earned? Do you save it or use it to offset your expenses?
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Andy Sim
27 Feb 2020
HR Professional at a Financial Institution
Regardless of how much interest I earn from a savings account, I keep my expenses less than 20% of my salary every month. As such, I do not use it to offset my expenses. It will be accumulated together with my savings, which I later on use to invest through other investment tools.
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The interest gained from savings account will be directed to my investment account as i aim to build up as much capital as possible to invest in equities.
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Jason Sing
25 Feb 2020
School Of Hard Knocks And Life at School Of Hard Knocks And Life
I keep the interests in the saving account so that I could tap on the compounding effect to grow my funds.
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Rais M
25 Feb 2020
Accountant at SME
Interest from banks are not very significant. I just leave it in the bank (the high interest bearing...
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Usually I will transfer it to out another savings account (e.g. CIMB Fastsaver) if the amount is substantial. Otherwise, I will just keep it in there.