Dear readers, today’s a newspaper article reported that there was a general trend of increase in Personal Savings here in Singapore.
Let us look at the numbers below for the Personal Savings figures here over the years:
2017: $67 billion
2018: $71 billion
2019: $74 billion
2020: $103 billion
2021: $96 billion
I feel encouraged by the general increase of savings here in Singapore notwithstanding the financial experts keep mentioning that inflation will erode savings over the years. Inflation will only erode savings over the years if we do not have a good plan to grow our monies wisely. And I believe many of you would have some plans to grow your monies, be it building up an investment war chest or through some regular and simple investments.
The worst of all is to lose one’s monies saved painstakingly via an unwise investment. Hence let us all invest wisely to further grow our monies!
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