Asked on 27 May 2020
Current Poly student, unstable income, savings about $1.2k, no investment, any recommendations to increase savings?
I have a 3-month fixed deposit with ICBC Bank of China that offers 1.3% per annum. Think now the rate is 1.2%, which isn’t too shabby. I started out from $500.
Hey, you've been here for quite a while.
As mentioned in my other replies to your questions, I think it is best to put your academics as priority unless you have financial difficulties. If that's the case, you can approach the community centres to seek for assistance from social support programmes. Mathematically, the only ways to increase savings are to increase income or to decrease spending.
" The best time to start was yesterday. The next best time is today."
I feel you should be start by making small steps now and not hesitate about what is the correct approach.
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