Parents, able to share how you save money? No savings investment plans. i been trying but i just don't seem to get it down. Despite writing or locking it aside

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At the moment my savings goes into OCBC Bonus plus account. while my pay is from DBS. So each month once I get my pay, I have an auto-transfer of 300 into the OCBC account. The good thing about this account is you get bonus interest rate if you DO NOT withdraw. So just to earn this extra bonus, I always tell myself that the money go in cannot come out. So far I only withdraw from that account once, which was to pay for the hospital bill. I don't even know how much is inside and I tell myself I don't want to see the balance until I get my house 4 years from now.

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5y ago

Is there is deposit min for this ocbc bonus?

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One way is to get a savings account WITHOUT the ATM card, meaning you link it to one of your current cards - then it'll be hard to spend it :) Another way, is just to get endowment plans I guess! Literally forces you to save 😅

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For me i will try not to use certain cards. I will open a few bank and each account are for different purpose.. Try to have some not accessible bank such as maybank , cimb , hsbc , ANZ ETC.. then wont be able to draw out easily ..

5y ago

Ok thank you for the tips! i will keep a look out for these bank promos

at the moment I'm putting about 200-300 per month. baby bonus I'll split it too. so let's say I get 2k, 1k goes into savings and the other 1k I'll use to clear bills or take the kids out.

Bank card, I cut and throw. No bank book. Also I can't transfer money out from the bank. Urgent- life and death. if it means I must ask or borrow I'll do that. in a way forget that it's there.

5y ago

Ahh. thanks for the tips. I shld try that method. But monthly you put aside? How much?

We put into same kind of education funds that pays not bad dividends once every few months I think..it's all managed by my independent wealth advisor

I have recently started saving. I put the money in the bank and I have thrown the card away. I also took a bank which is not accessible to me.

6y ago

Any bank card or bank book with it? What if when really need it urgently? its also a nono?

As i cant save too, baby bonus goes to my husband. So i wont touch it.