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For Singaporeans of a certain vintage, local movie Money No Enough and its ilk of shows are part of the quintessential Lunar New Year experience. The release of Money No Enough 3 now inducts a whole new generation of Singaporeans into the cult. Welcome!
At Betterzine, we like to take a more proactive approach to our money. So even as we too clutch our purse strings a little tighter this year here are some practical tips we can practise to stretch our dollar so that it is just enough.
Get that map right-side up
Do you know where you are on your budget roadmap and where you’re going? Most of us probably know where we are on the roadmap - we have an idea of how much we have in our bank accounts, what investments and savings we have - but how many of us know what the end-goal is? It’s imperative that we have a clear vision of where we want to be at the end of this journey because only then can we plot the steps we are taking and measure our progress. We do this for most aspects of our life. Why don’t we do it with our money too?
Watch the numbers grow in a high-yield savings account
We are pretty lucky when it comes to high-interest savings accounts in Singapore. Almost every bank has a savings account that will pay some form of bonus interest if you perform a number of activities (e.g. crediting your salary or spending on their credit cards).
So find a bank that works for you. By the way, GXS Savings Account offers 2.38% interest per annum on your Main Account and 2.68% interest per annum on your Saving Pockets which is credited daily instead of monthly*. And, we don’t require you to jump through hoops.
Turn money into happiness
We often hear that money can’t buy happiness but invest well and you just enjoy the payouts more than if you’d invested traditionally! Invest in the relationships that matter to you: Is that a gift for your parents, a dinner with your special someone or an adventure with your favourite pet?
While you’re at it, invest in yourself - level up your health and fitness or learn a new skill! We’re not just talking about work-related skills. Work-related skills are infinitely useful and you should most definitely invest in those! But you should also take the time to pick up skills in things you are passionate about - for instance, a new language or a musical instrument. It could be the refresh you didn’t know you needed.
By the way, if you need a financial boost, we have just the solution for you! #ProductPlacement
*As of 10 April 2024. For the latest updates, please go to the GXS website and click on the Save tab.
