Investment & Savings

What Makes Up Your Investment And Savings?

No one is going to take care of your financial well-being like you do, which is why savings and investments are so important. They will come in handy during rainy days and help you meet both short-term and long-term goals. Saving is putting away money – typically in a savings account, for future expenses. Investments are similar where you will also be putting away money but in places such as investment accounts, stocks or bonds. These have the potential to generate much higher returns but at a greater risk.
It’s not hard to get started. Most banks have a range of saving and investment accounts for you to choose from. For example, DBS and OCBC offer services for both saving and investing. You may wish to speak to one of our preferred advisors if you require some guidance.

In looking to save or invest, there are some things to consider. Saving accounts often have different interest rates – but don’t just go for the highest one. These rates are often conditional and you’ll have to make sure you are able to meet them. For investments, consider your current financial situation. If you have debts to pay off, it might be wise to have more cash on hand.

Invest what you can afford to!

Investment & Savings Journal