Anonymous
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You should create multiple categories for Savings.
10% usually is for emergency funds and not linked to other expenses.
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Savings for a house and your wedding fall under the 10% as well.
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For house, you can use you and your partner's CPF to pay for the downpayment and monthly installment. Perhaps you need to save for renovation and purchasing of furniture.
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If you have money left, you can consider holding a wedding lunch/dinner.
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Ultimately, it depends on what you want. If not, you may consider to save 10% for wedding, 10% for house, and 10% for emergency funds.
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10% savings is seen more for emergency savings, but you can repurpose it for other functions.
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If you need more though, you need to figure out a good target number and plan based on that.
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Billy
02 Jun 2023
Development & Acquisitions Manager at Real Estate Private Equity
I believe the 10% savings is more for emergency savings i.e. if one gets retrenched and one needs to...
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Savings is savings.
Do not touch it for other wants or needs such as Weddings. You should have already done the calculations for how much you need for retirement.