Last updated on October 31st, 2021

Saving $100k, especially by 30 years old, may be something that you’re aiming to achieve. Some of you may even be aiming to save $100k within 3 years! However, is it really possible to do it in Singapore, especially with its high cost of living? Here are the steps that I’m taking to achieve this goal. Hopefully, it can serve as a guide for you too!

How to save $100k in Singapore

Here are 9 steps you’ll need to take to save $100k in Singapore: Increase your savings rateIncrease your incomeMaximise your employee benefitsConsider passive sources of incomePlace your funds in accounts that give you a good returnConsider investing your money to reach $100k fasterReduce your income tax by receiving tax reliefTake advantage of government grantsContinue to persevere, even when times are hard

#1 Increase your savings rate

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