Millennials who work at S’pore explain how they manage their savings – Mothership.SG

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In the age of online shopping and credit cards, working millennials are often tempted to spend their hard-earned money all the time.

For my part, I refused to deposit my angbao money over the past few years, lest I be tempted to spend it once I see the money in my bank account.

My solution? Keep all my angbao money in a locked drawer in my room.

Photo by Low Jia Ying.

Of course, it works. But I’m also keenly aware that my drawer doesn’t pay any interest and that my money smells a little weird.

Curious about what weird money-saving methods other working millennials are using, we decided to ask our readers to share their crazy money-saving tips with us.

Here are the strangest ones.

Also helps to lose weight

Some readers choose to sacrifice a good meal to save money.

The temptations of online shopping

Other readers don’t get carried away by shopping online.

Play hide and seek with your money

They are strange hiding places.

Some mental gymnastics required

Parents know better

Try the Tiq 3-Year Endowment Plan by Etiqa Insurance, a short-term insurance savings plan with guaranteed returns

Saving money isn’t always easy, and some of our readers have resorted to wild tactics to protect their hard-earned savings.

But worrying about all the money you’re hiding in the house might not be the best solution.

There might be an easier way.

If you want to park your savings somewhere without thinking about it, and also see some nice returns, consider signing up for 3-year Tiq endowment plan by Etiqa Insurance.

The endowment plan has guaranteed returns at maturity of 1.62 percent per year, which are paid in full after three years.

For example, if you pay a premium of S $ 20,000, you will receive a guaranteed benefit of S $ 20,986 after the three-year maturity period. This is 104.9% of your initial premium.

The Short Time Frame is perfect for those looking for a safe, short-term savings plan.

This means you can easily plan for the biggest financial purchases in your life – that BTO down payment, the wedding of your dreams, or a home renovation.

What’s simple about this endowment plan is that it’s a one-time premium plan, which means you only need to make one payment when you sign up.

You can choose to pay a premium starting at S $ 10,000 or up to S $ 200,000.

Registration is also easy, Etiqa offers immediate online acceptance, so you can register from the comfort of your home.

Learn more about the 3-year Tiq endowment plan with guaranteed returns to maturity of 1.62% per annum here.

This article sponsored by Etiqa Insurance helps us earn more to save more.

This policy is underwritten by Etiqa Insurance Pte. Ltd. (company registration number 201331905K). Conditions apply. Protected up to limits specified by SDIC. As the purchase of a life insurance policy is a long-term commitment, early termination of the policy usually involves high costs and the cash value, if any, payable to you may be zero or less. total premiums paid. You should seek advice from a financial advisor before deciding to purchase the policy. If you choose not to seek advice, you should consider whether the policy is right for you.

The information is correct as of October 14, 2021. This announcement has not been reviewed by the Monetary Authority of Singapore.

Best photos via Low Jia Ying and Instagram screenshots


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