Thursday 24 March 2011

Start by saving (Part II of II)

One might never get to save if the inflow of money is simply left in the bank. Why? The tendency of human (especially ladies) to just spend when money is easily accessible. To make things worse, we have credit card luring us to spend future money.

You could try out OCBC MSA123 to help you. It is a monthly savings account (MSA) which you open with OCBC. You decide on the fixed amount and choose to save in a 13-month, 24-month or 36-month plan. It is hassle-free and a discipline way to save. You can open as many MSA as you like. If possible, you should open a few accounts at staggered time, so that your capital may be build-up faster and you do not have to wait too long for the next big thing in life - INVESTING! Want to know more about how MSA123 works, click on this link OCBCMSA123.

Another channel will be TCC. It works similarly to MSA. Of course you could simply just save in you existing bank account if it works for you.

One important thing to note. Do estimate your monthly expenses and deduct the amount from you income, to gauge how much you could afford to set aside, without running into daily cashflow problem affecting your daily life.

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