2020 will always be remembered as a year that forever changed the way we look at things. Who would have thought that Covid-19 will change the face of the Normal and we have to live with the New Normal full of uncertainties where jobs are getting lost and future looks blurry. Those of us who are parents, we are even more concerned since there is a huge responsibility of kids that we have to shoulder.
Read on how we chose the Right Savings Account with the help of MoneySmart to help us sail through this unprecedented period.
Save Money and Money will save you – as they say. It’s a saying that we all should agree with. During the instability created by the pandemic, it’s our savings stream that will come to our rescue and will help us to meet expenses. Not only that, if we have sizeable savings, it’s the best time to find some investment opportunities to grow our money.
Why we have to get the Right Savings account for ourselves?
- As a collateral damage of Covid-19 pandemic, financial markets are tumbling down and the global economy is entering recession. At such times, Singapore banks are under pressure. They have lowered their deposit interest rates to combat the grim situation. But the side-effect of this move has affected our ability to save and grow our wealth.
- This time demands that we take stock of our savings and relook at our savings account. It’s very important to check if it still gives us the highest possible interest.
- Getting a right Savings account has always been the key factor and more so this year.
- Though Covid-19 pandemic has hit the financial markets and businesses badly, it’s also presenting an opportunity in disguise where we can start investing and figure out ways to consolidate our wealth resources. This is possible only if we have that cash in our account which is an already-low interest rate savings account.
Compare and Choose the Right Savings Account with MoneySmart
With so many options available by various banks when it comes to choosing the right savings account for the family, we need a resource that will help us to compare and zero down on the right fit for the family.
MoneySmart has always been our go-to site when it comes to taking financial decisions. When it comes to choosing the right savings account, MoneySmart enables and encourages us to choose between the appropriate savings accounts.
Steps to compare and choose the right Savings account:
1.Go to MoneySmart website by clicking here.
2.Browse through various options available with Singapore banks
3.Use options like more details, Read More to explore more about these choices.
4.After carefully considering all the options, choose the right Savings account for you. When choosing the right Savings account for you and your family, these are the factors we must consider:
- Is it your savings account going to be your salary account too? Is it credited via GIRO by your employer or are you self-employed and how much is your credit spend.
- How much money you are planning to deposit in this Savings account?
These factors will definitely influence your choice of the right Savings account. We have to go for the one that checks the most boxes in order to attain the best interest rate for our money.
5.Apply Online and get the process started!
MoneySmart is very handy and makes financial decision making so convenient for busy parents like me. Its easy site navigation, clear interface and wealth of resources are always the best pointers to be on the top of the game when it comes to choosing the Right Savings Account. Happy Savings!
Love our blog which is among TOP 15 Singapore Family and Parenting blogs and Top 30 Lifestyle blogs?…Check our portfolio here. Check our newest site for women-centric and Lifestyle content SocialMediaMomSG.com
Drop a line on RainbowDiariesWorld@gmail.com to collaborate with us for your products and services or Click here to get in touch with us.