Category: My Simple Life

Recently I have this idea of trying to save $10k per year, which means I need to save at least $833.33 per month.

Oh My God! How am I going to do that?

After deducting the money for parents, insurances, bills, and some personal expenses, I guess it is not possible for me to set aside that amount. But I try to save at least $600 per month. The easy way to do this is automatically deduct the amount from my Citibank Stepup account to my eSaver account at a preset date every month. This way I can save at least $7200 per year.

Everything is rising in cost nowadays, I am happy that I made the wise choice of scrapping my car last year which used to be my biggest bank killer.

$10k a year is still a goal I want to achieve in near future. Meanwhile I try to pick up the knowledge of investing in things like funds so that the money can grow at a faster speed!

Seems like a lot of Banks in Singapore is cutting down interest rates for their High Interest Rate Savings Account. Maybank is reducing their interest rates for their iSAVvy Savings Account yet again, it used to the highest for a savings account. Too bad I didn’t ride on it while they are having one of the highest interest rate.

As I was going to apply for Citibank Stepup Account online, i noticed something is not right. The figure for the interest rate dropped!

The base interest drop from 0.6875% to 0.3% p.a. and the stepup interest of 2% down to 1.2% p.a.

In my previous post, High Interest Rate Savings Account, Citibank Stepup Account offers the best interest rate in town, but now after this big drop in interest rates, research needs to be done again.