Saving & Spending
The Best Bang for Your Buck: Where Should You Be Putting Your Savings
By Dr Wealth  •  October 25, 2016
We save money for many purposes and among the many purposes; it is primarily for insurance in the event of a rainy day. Amidst the uncertainty that we face in the current economic climate, it may be even more pertinent that we better manage our savings. According to the statistics provided by the Ministry of Manpower in 2015, the average rate of finding jobs with 6 months of redundancy for PMETs and degree holders are as low as 45%. It is therefore imperil that we save for such a ‘rainy day(s)’. By “savings”, I refer to cash at bank and exclude any form of investments or passive income that come from such investments. Though each of us saves a different percentage of our income, the underlying concern is how we manage our savings more so than how much should we save. Hence, where should our savings go to best maximize returns yet achieve its intended purposes of being liquid and safe? ......
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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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