Asked on 25 Sep 2018
As nothing is 100% sure before marriage, where we've seen many of our friends lost their deposit for HDB due to change of mind but already committed to HDB.
$ is also the 1 reason by couples/marriage falls apart.
So the best way to save together is to:
Help each other to learn to budget and save each month
Keep the $ in own high interest account (eg. DBS Multiplier) or in SSB (since it is 1 to 3 years durations before marriage)
Amount to save, invest and expenses, can refer to seedly guide:
Agree that the above doesn't pool funds together for higher interest, but it is more of self disciplin to start savings, investment and keep expenses at bay.
Being able to practice good budgeting and financial managment helps in the future when it comes to wedding planning, after marriage family financial management.
With that financial / budgeting learning experience when one is single, one can continue and excel even better without entanglement after marriage when resources is pool together.
I think 50/50 is reasonable. The actual amount depends on the agreement between you two. What are you saving for or what is the objective? Both must agree on it and work together
I tried creating one joint savings account with my girlfriend a few months and apparently the bank told us that we need to have the same resident address to be able to open a joint savings account.. Do take note
I think it depends. if your salaries are similar to each other's, then i think a 50/50 contribution is fine. However, if the difference is huge, then consider contributing in % terms :)
Would go for 50/50 since it's fair and we are saving for a common goal. As for the amount to put in, it depends on how much both of you can afford to put in every month are deducting your expenses. Both of you should discuss on the amount, can and increase as the time goes by. All the best!
50/50 is usually common. Both of you should come to a consensus as to how much to contribute each month. It really depends on your earning power and what you are saving for to decide the amount to contribute. It should be an amount which both feels comfortable to put in the account.
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