Singapore might be an expensive place to live in but that didn’t stop our new contributor, Budget Babe. She explains how she managed to save S$20,000 in 2014 despite just earning s$2,500 a month. Words by Budget Babe — In the closing stages of December, I analysed my finances across the past 12 months, and realised quite amazingly that I managed to accumulate $20,000 in 2014 alone! I graduated recently and have been working for just slightly over a year. My starting pay was $2,500 and I’ve stopped taking money from my parents since I was 18. In fact, I give my parents S$200 each every month. How did I do it?

1. Open up separate bank accounts

All the way until university, I always had one main bank account (POSB) which I save and spend from. When I graduated, I decided to open up another separate account and set it ......