facebookHi, I'm currently still in army, earning about $800 from my allowance, what do you think is the best way to grow my savings? I'm looking at a little bit more growth in value, since i'm still young? - Seedly
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Anonymous

Asked on 19 Mar 2019

Hi, I'm currently still in army, earning about $800 from my allowance, what do you think is the best way to grow my savings? I'm looking at a little bit more growth in value, since i'm still young?

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Answers (13)

From the allowance of $800, set aside cash that you can save up every month.

Invest in the most important thing which is your knowledge. Read some investment/financial education books such as Rich Dad Poor Dad, One up Wall Street, 5 Rules of Succesful Stock Investing.

If you have some savings, you can park them at SSB meanwhile. The most important thing I wish I did when I was in Army was to save whatever I can, spend lesser during Nights out and learn a high value skillset.

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Thank You!
Can you clarify
I wonder if
This is so helpful 👍
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S

Steven

Level 2. Rookie

Updated on 07 Jun 2019

You could start by buying Singapore savings bond. Or you could purchase low risk stock by registering with SGX opening a CDP account. I will recommend NEtlinkNBN( looking for it)

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Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

Post

Geraldo L.

Geraldo L.

Level 7. Grand Master

Answered on 09 Mar 2020

You can save $100-$200 every month, putting it into ETFs through dollar cost averaging schemes. A re...

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