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Leong Wen Fong

Commercial Ops at Aspire

18 Apr 2019

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Saving Hacks

What is one absolute Savings hack for a fresh grad?

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Yes love the answer below on automating savings. A fresh grad has a very long game to play. So a small step taken each day in the right direction goes a long way. Other than high interest savings accounts, saving in gold rather than in SGD, is quite a bullet proof way of preventing inflation from eating at your savings. Using the Hugosave app is probably the easiest, cheapest and most automated way of saving in gold. Go check it out. Link to app https://tinyurl.com/bdenz76s

allocate a certain % of your income to save each month. and stick to it! pay yourself first!

Back to basics. Automate your savings. Set up a standing instruction with your bank to transfer an X amount from your paycheck a day or 2 after it's received into an account that has as many barriers set up in place as possible that you won't likely touch it. Either because it's a heck of a troublesome process to even touch the funds, or the nature of the account gives you an incentive to leave the funds untouched.

Gabriel

20 Sep 2018

Undergraduate at National University of Singapore

Open a higher interest savings account like DBS Multiplier to take advantage of the higher interest as well as set aside a portion of your salary for savings first before spending!

Read "Your Money or Your Life" by Vicki Robin
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