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Hey There,


We may well be approaching the second half of 2021 but it’s still not too late to grow your wealth for the remainder of the year. 


Here are some tips on how to do so:

Set higher #financialgoals for the next few months

If you are not sure where to start, you can always begin your plan using these 3 easy steps:


  • Set your target: Start the mid-year with an achievable savings target in mind, but make sure that the number is at least 5 figures (for eg, SGD10,000 or more)  and higher than what you have saved in 2019. 


  • Plan an effective budget: Now that you have a target in mind, it is time to plan a budget. You can use this to work out how much to save each month (the rule of thumb is 10-20% of your monthly pay cheque) and how much you have left to spend.  


  • Track your budget: For most of us, following through is the toughest part of a budget. One simple remedy is to use an app, or even a digital spreadsheet. The idea is to list down every single thing you pay for so that at the end of the month, you know what you’re spending your money on. “Do not save what is left after spending; instead spend what is left after saving,” said Warren Buffet. 


Eliminate the urge to spend by setting up an automatic transfer to your savings account every month. Don’t have a separate savings account to park your money? Now is the time to set one up. This way, you will be guarantee to save money each month – and in a few months time, you will reach your goal of becoming richer in 2020!

Aim to start investing this year

Once you have achieved your target, why not invest and make it grow even more? Take some time to research your options and strategies. Once you’re ready, you can make your investment decisions on your own, open an investment account through a robo-advisor, or consult an investment management service.

Clear as much debt as possible

If you’ve got loans to pay and credit card debt to clear, you’re not alone. Loans and instalments can help manage expensive purchases, but the added-up interest can be detrimental to your finances. Try to avoid taking on any more additional debt this year – settle your monthly credit card bill in full, make your loan payments on time, and – for purchases that aren’t urgent – pay off ongoing instalments before you start new ones.


These are just some ways you can build good money habits. Try to find what suits you and have a great financial year! 



Yours Truly,



Important Notes & Disclaimer

This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy amongst Singaporeans. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve everyone’s well-being. This in turn, achieves CIMB’s purpose of advancing customers and society.