Cents And Sensibility

An article in Cleo's September edition came as a wake up call. The article features three career women and their financial status. It scrutinized their income and expenses and how stable they are financially. It gave feedback on what one can do to be able to achieve their long-term goal financially.

Here are some helpful tips from that article:

• 10% of your salary should be kept for your monthly savings
  
• you must have a savings of at least 6 times your salary in the possibility of losing your current job
  

There were options provided at the end of the article if you are open to saving money monthly. The pros and cons were provided for each option allowing you to make an informed decision.

• OCBC monthly savings plan
  
• POSB save-as-you-earn (SAYE) plan
  
• OCBC monthly investment plan
  
• UOB Singapore dollar time deposit/fixed deposit
  
• HSBC Singapore dollar time deposit
  

I took a step forward in securing my finances and chose one from the above. I hope that you end up doing the same.