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What are some factors that prevent us from creating a savings plan?

Savings can provide a buffer for your future needs. Even when people are keen to save, few are disciplined about it, and others simply don’t know where to start.

What are some of the factors that keep us from putting away money for those rainy – and sunny – days to come?

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Having a savings goal and regularly setting aside money from an early age can create a sound financial foundation for your life down the road. Now that you know about some possible savings hurdles and the not-so-difficult ways of overcoming them, start your savings journey as soon as you can. You are never too young to save!

Want some advice on building your savings for the long-term? Contact us now.

This article is brought to you by Standard Chartered Bank (Singapore) Limited. All information provided is for informational purposes only.

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Disclaimer

This article is for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction. This article has not been prepared for any particular person or class of persons and it has been prepared without regard to the specific investment or insurance objectives, financial situation or particular needs of any person. You should seek advice from a licensed or an exempt financial adviser on the suitability of a product for you, taking into account these factors before making a commitment to purchase any product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether the product is suitable for you.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.