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3 Smart Tips to Grow Your Money

Tips on How to Grow Your Money Effectively

In today’s unpredictable and tough economic environment, growing your money is more crucial than ever. With inflation steadily driving up cost of living, your purchasing power diminishes over time with stagnant savings. Plus, having a financial buffer for emergencies or unexpected situations—like medical bills or job loss — provides essential security. By focusing on growth, you can safeguard against inflation and uncertainties as you build a stable foundation for your financial future.

A smart way to grow your money is through a high-interest savings account like Bonus$aver.

With Bonus$aver Account, you can earn a high interest rate of up to 7.68% p.a. when you credit your salary, spend, invest, insure, and pay bills through the account.

By taking advantage of these benefits, you can strengthen your financial stability and build a solid foundation for growing your money.

Table of Content

Tips on How to Grow Your Money Effectively

How to Maximise Your Bonus$aver Account

Rising Cost of Living in Singapore

As Singapore’s cost of living continues to rise, finding ways to grow your money has become key to staying financially secure. Our country has consistently ranked as one of the world’s most expensive cities underscoring the need for diligent financial planning. In this environment, growing one’s financial nest egg and generating passive income in Singapore is essential to keep up with the daily expenses and long-term wealth accumulation.

For Emergencies and Unexpected Situations

Life is unpredictable, and having a financial cushion can help you navigate unforeseen circumstances like medical emergencies, sudden job loss, or urgent repairs. Growing your money ensures you have the resources to handle these situations without disrupting your financial stability. A well-prepared emergency fund provides peace of mind and protects you from relying on borrowing during tough times.

Why the Need to Grow Your Money

Save: High Interest Bank Account

A simple and effective way to make your money work harder is to open a high interest savings account. Such accounts leverage the power of compound interest, meaning the interest you earn on your savings also earns interest, leading to accelerated growth over time.

For example, placing your money in a savings account with a high interest rate, like Bonus$aver Account, can significantly maximise your savings growth. With an attractive interest rate of up to 7.68% p.a., your money starts working for you from your very first dollar. This means an average daily balance of S$100,000 would earn you an estimated annual interest of S$7,680 in a year, showing the value of choosing a high-interest account to grow your savings.

Plan: Setting Financial Goals and Budgeting

Educate yourself about personal finance so you can create a solid financial plan. Learning and understanding how to budget, invest, and manage your debt will empower you to make smart financial decisions and maximise your savings.

Financial planning helps you define clear savings goals, thereby eliminating unnecessary expenses and prioritise saving. It enables you to build a retirement nest egg by setting aside regular savings or investments that grow over time, ensuring you have enough for your golden years. It also prepares you for significant expenses, like starting a family or buying a home.

And what if you could benefit from your expenses? It sounds too good to be true, but there are options out there that can help maximise your finances, so be sure to do your research. A good example would be our Bonus$aver Account which offers high interest of up to 7.68% p.a. when you spend on your Bonus$aver Card, pay your bills through GIRO or purchase an eligible insurance plan.

Grow: Investments

Growing your investments can reduce financial risk while providing additional financial buffers and stability.

There are many ways to grow your investment to help reduce financial risk while providing additional financial buffers and stability. One is investing in different asset classes to supplement your primary income. Diversifying income from investments into different asset classes can spread the risk and help enhance potential returns. When one asset class underperforms, others might perform well to offset the underperformance and balance out your overall portfolio. In addition, through Bonus$aver Account, you can invest in Unit Trusts with a minimum single subscription of S$30,000 and enjoy bonus interest of 2.00% p.a. for 12 consecutive months from the investment settlement month.

How to Save, Plan & Grow your finances

Our Bonus$aver Account can help grow your savings quickly by rewarding you with bonus interest from your first dollar. With 5 different ways to earn one of the highest interest rates in the market – up to 7.68% p.a. interest – it offers you the flexibility to save money effectively. This helps you earn extra income through interest rates and makes your money work harder for you.

Earn 2.00% p.a. bonus interest on your balances when you credit a minimum of S$3,000 monthly salary via GIRO into your Bonus$aver Account.

Invest through us in an eligible Unit Trust with a minimum single subscription of S$30,000 and enjoy bonus interest of 2.00% p.a. for 12 consecutive months from investment settlement month.

Purchase an eligible insurance policy with a minimum annual premium of S$12,000 and enjoy bonus interest of 2.00% p.a. for 12 consecutive months from the month of policy inception.

Earn up to 1.40% p.a. bonus interest when you spend at least S$500 eligible spends in either local or foreign currency with your Bonus$aver Credit or Debit Card.
The Bonus$aver World Master Credit Card offers additional The Good Life® privileges, adding even more value to your everyday spending.

Get 0.23% p.a. bonus interest for at least 3 eligible bill payments made via GIRO or Online Banking, with a minimum of S$50 each.

You will earn a prevailing interest rate of 0.05% p.a. on the balances in your Bonus$aver Account.

In addition, Bonus$aver offers a multi-currency feature that allows you to transact in up to 14 currencies from your account and convert at competitive FX exchange rates while you enjoy S$0 fees for overseas transactions. This makes it an ideal choice for those who want to transact in foreign currency(cies) effectively while avoiding unnecessary fees.

Rest assured that your monies in your multi-currency and Singapore Dollar Bonus$aver Account(s) are secure with MoneyLock, the anti-scam security feature that protects your funds against scams and unauthorised transfers or withdrawals.

With the growing inflation in Singapore and to better prepare yourselves for unexpected expenses, an all-in-one high interest savings account like Bonus$aver will help you to ease the financial burdens.

Get your Bonus$aver Account today to enjoy the high interest rate of up to 7.68% p.a, and its other perks like exclusive access to The Good Life® privileges through Bonus$aver World Mastercard Credit Card or Debit Card, the multi-currency feature and the anti-scam protection feature for added security.

Choose how to grow your money with Bonus$aver. Apply now at sc.com/sg/bonussaver