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What’s in a per cent?
Did you know? If you are still paying for items that you bought last year, you are now paying 9 per cent GST on your outstanding payments! A one percentage point increase in GST from 8 per cent may not sound like a lot but it adds up. It’s always good to have an overview of how much money is coming in and where it is going.
Shop like it’s 2023
A number of businesses are running promotions to absorb the GST rate change on various items for a certain time period. A number of grocery stores have also pledged to absorb the GST increase and/or offer a discount. These promotions are store-dependent so be sure to check out all the T&Cs before heading over!
By the way, if you’re a GXS Savings Account customer, stretch your spending dollar with the GXS Debit Card! Spend a minimum of S$10 on eligible transactions with your GXS Debit Card to unlock an instant reward. Spend a minimum of Every S$10 spent on eligible transactions unlocks an instant reward and the best part? No caps on the number of rewards you can earn.
Review your investments and budget
Are you making smart moves when it comes to saving and investing? Are you planning your budget for the coming year? Having an overview of how much money is coming in and where it is going on a monthly basis is a first step.
The second step is to create a budget and stick to it. It is also a worthwhile idea to make your money work harder for you by investing in products such as Singapore Savings Bonds, Treasury bills or Fixed Deposits.
If you need help to make your money work harder for you or simply looking for ways to make saving fun, click on the “Finance Hacks” tag to find out more.
