Saving 2018-04-01T10:35:31+08:00

Saving Strategies

The most valuable asset you will ever have is your ability to earn an income. It is critical that your savings are AFFORDABLE and ALIGN with your financial goals and interests. Many expats are saving far too little of their disposable income and even less have their financial goals clearly outlined.

As an expat it’s also important that your saving strategy provides you with the flexibility to make changes if needed, while ensuring you remain on track to achieve your financial goals.

Saving Strategies

The Rule of 72

The Rule of 72 is a method to calculate the length of time it would take for an investment to double growing at a particular rate.

The formula is:

n = 72/i
where n = Number of Years i = Interest Rate

Top 5 Tips to Start Saving Today

  • Automatic Payments: Set up a standing order to have a fixed amount transferred into your investment account each month. This will ensure that it is automatically invested for you on a regular basis allowing you to take advantage of a dollar-cost averaging approach. Be sure to confirm that you can change these regular contributions without any extra fees or penalties applying.
  • Set Out Your Goals: Write down your future goals whether they be paying for your child’s education, retirement or saving for that special day. By clearly stating your goals you can track your progress on a regular basis and ensure that you’re on the right path.
  • Affordability: Ensure that your saving strategies are affordable and manageable for you. To achieve a certain financial goal may mean that you have to reduce your expenditure, which is a trade off. You should consider whether this is sustainable for you and what adjustments you need to make. By ensuring flexibility in your regular savings, you also have the comfort and peace of mind in knowing that you can reduce this amount if you find it’s not a sustainable level.
  • Family: Encourage your family members to also start saving today. Start teaching your children about the value of money by teaching them to save towards a range of their own financial goals. One good strategy is to have three separate ‘money boxes’ for your children, one for their own savings, one for spending and one for donating to charities and causes that they care about.
  • Flexibility: As an expat, you have already been through at least one substantial change, moving abroad. It is important that while your saving strategies allow you to achieve your financial goals that they are kept flexible should your circumstances change. Ensure that there are no hidden charges or penalties for increasing, decreasing or even changing the frequency of your regular savings strategies.

The 8th Wonder of the World – Compound Interest

Test Your Knowledge

If I offered you to choose between the following two scenarios, which option would you select?


S$10,000 per day for 30 days


At the end of 30 days the $10,000 SGD would be worth S$300,000


1 cent that doubled in value every day for 30 days?


The 1 cent that doubled in value would now be worth over S$5,000,000.

Compounding returns over time allows your money to work for you. By designing the right savings and investment strategy to achieve your financial goals, you can take advantage of compound returns too.

Allow Me to Design Your Flexible Saving Strategy

A carefully considered saving strategy should be both disciplined and flexible, ensuring that you remain on track to achieve your financial goals, while ensuring you can make changes as your circumstances change without financial penalty.

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