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Ghee Hing Chia

09 Mar 2020

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What is currently the best financial instrument for saving up an emergency fund? Maybe a total fund of 36k, probably 12 months worth of salary?

Still deciding a 6mths or 12mths emergency fund. Has no dependent at the moment. Must be able to retrieve when needed.

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Davin

09 Mar 2020

You can consider those high yielding saving account, some comes with terms and conditions like UOB One (salary credit and $500 spending), Maybank iSavvy (fresh fund for every cycle), Singapore saving bonds (no T&C), DBS multiplier (multiple hoops to jump).

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Pang Zhe Liang

08 Mar 2020

Lead of Research & Solutions at Havend Pte Ltd

The best financial instrument will be a high yield bank account or into a fixed deposit.

For high yield salary account, you may consider DBS Multiplier, UOB One, or OCBC 360.

For normal savings account, you may consider CIMB Fast Saver @ 1% per annum.

Fixed deposit differs from bank to bank.

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Andy Sim

08 Mar 2020

HR Professional at a Financial Institution

For liquidity, your money should be put into HISA or SSB. You can put 20k into Jumpstart then the re...

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2) What is the rough percentage of my monthly salary should I set aside so as to save up for my own emergency funds? (Eg. 5% ~ 10%). Maybe can also state the reason behind why that rough percentage?

I have 12 months' worth of salary in savings. Now, should I invest everything after expenses or continue saving a portion of my monthly salary and invest the remaining amount?

Should I still be allocating cash to a high savings account from my monthly salary if I have already saved up for my emergency fund?

Which is the best bank account and credit card for self employed that doesn't have monthly credited salary (Will put about 10k of emergency funds in it) ?

I'm 28. After setting aside 12 months emergency fund, do I still need to allocate money to savings? Or should I use my spare cash to invest or top up CPF?

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