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    How would you like to apply?

    I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

    *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    *Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

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    I am an existing Standard Chartered Current/Checking/Savings Account holder

      sg/wealth-management/wealth-library/bucket-savings-strategy

      Start the bucket savings strategy:

      Now you don’t have to feel broke at end of every month

      The art is not in making money, as the proverb goes, but in keeping it. If you often find yourself lamenting about not having enough money to spend, much less save, consider a new method of thinking about money this year.
      Whether your goal is to save SGD$50,000 in the new year, add to your investment portfolio, get married, purchase a home or see the Northern Lights, you can realise it by mastering the bucket savings strategy. Here’s how to do it:

      Treat saving as a form of consumption

      After receiving your salary each month, the first thing you should do is put aside a fixed portion as savings. Treat monthly savings as a form of recurring expenditure, rather than the leftovers (if any) at the end of a month of spending. As Warren Buffet said: “Do not save what is left after spending, but spend what is left after saving.”

      “Many little drops make an ocean” – be disciplined with saving and even a small monthly amount can grow into sizable wealth.

      Classify daily expenses into separate buckets

      Below four buckets should covered expenses for most people:
      1. Must-have bucket: Apart from savings, for other recurring expenses like electricity and water bills, basic living costs such as transportation and food, as well as children’s school fees.
      2. Emergency bucket: for use during unexpected loss of income due to unforeseeable setbacks like unemployment.
      3. Investment bucket: for growing your wealth by making your money work harder to earn even more money for you.
      4. Entertainment bucket: for enjoyment of life. Researches have affirmed that restraining expenses excessively can adversely effect your overall savings plan.

      Allocate your salary to the buckets

      Assign a percentage of your income to each bucket. It is not necessary to fill up all buckets with the same amount. How much should you save? Consider your savings goals, the time horizon you have for each goal, and work backwards to calculate how much you need to save monthly.
      You don’t have to open a separate bank account for each bucket. Consider a budgeting and book-keeping app to keep track of your monthly income and expenditure, so you can manage your finances without hassle.

         

      This article is written by Fidelity International

      Disclaimer

      This article is for general information only and it does not constitute an offer, recommendation or solicitation of an offer to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration. 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 objectives, financial situation or particular needs of any person, and does not constitute and should not be construed as investment advice nor an investment recommendation. Where the article describes any insurance product or service, it also does not constitute an offer, recommendation or solicitation of an offer to buy or sell any insurance product or service, nor is it intended to provide insurance or financial advice.  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.

      Standard Chartered Bank (Singapore) Limited (the “Bank”) will not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information herein. The Bank makes no representation or warranty of any kind, express, implied or statutory regarding this article or any information contained or referred to in this article. This article is distributed on the express understanding that, whilst the information in it is believed to be reliable, it has not been independently verified by the Bank.

      The named contributor to the article (the “Contributor”) does not assume any duty to update any opinions or forward-looking statements, which are based on certain assumptions of future events and information available on the date hereof. There can be no assurance that forward-looking statements, if any, will materialise or the intended objectives or targets can be achieved. Whilst great care has been taken to ensure that the information contained herein is accurate and the data or information supplied by outside sources are reliable, the Contributor does not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information herein. The distribution/dissemination of this article in certain jurisdictions may be restricted by law. The Contributor shall not be held liable as to how and where the Bank chooses to distribute or disseminate the article, in the event that the Bank acts or omits to act in willful default of the Contributor’s written notice to the Bank regarding such distribution or dissemination. Persons into whose possession this article may come are required to inform themselves of and comply with any relevant restrictions. Receipt of this article does not constitute an offer or solicitation by the Contributor in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. The Contributor does not purport that it is duly licensed or registered to offer financial services of any kind in such jurisdictions.