Here are some key savings tips for you:
Four basic things to save for:
The sooner you start saving, the better off you’ll be!
Use our savings calculator to find out how much you’ll gain by saving for an additional 10 years
Aim to have at least 6 months of your salary in emergency savings
This allows you or your family to have some funds in case you lose your job, fall ill or need to pay for repairs to your home.
Look after yourself first!
Arrange with your bank to automatically transfer a portion of your salary into a separate savings account for your savings, before you use the money for your monthly expenses (except debt repayments, which you should pay off first).
Keep separate accounts
Separate your accounts for your monthly expenses, emergency savings and long-term savings
Make additional contributions to EPF for your retirement
However low your income, you can always find opportunities to save.
Check out some tips on how to plan your budget to maximise your savings here.