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Getting into a savings habit

5 ways to start saving money

It can be difficult to know where to start. But here are 5 easy ways to help you get into the habit of saving your money.

  1. Create a budget
    Identify opportunities to save money by creating a monthly budget. Need a few tips on how to create one? Visit our 'Creating a budget' page.
  2. Separate your savings from your regular income
    It's often easier to build up your savings if you keep them in a dedicated savings account that's separate from your everyday banking account.
  3. Track your spending
    Monitor your expenses on the HSBC Singapore app. Frequent small purchases can add up, so you might spot expenses that you could cut back on so you can save more money instead.
  4. Save a little, and often
    Saving any amount of money, however small, is worthwhile. It can help you get into the habit of saving. You could make it easier by setting up a monthly automated transfer from your salary account into a savings account. Choose to make the transfer on your payday, and you'll save money before you're tempted to spend it.
  5. Compare and save
    Use comparison sites to check if you could be paying less for your household expenses, like utilities, phone, internet or groceries. If you switch to a cheaper deal, try putting the amount you've saved each month into your savings account to create a savings habit.


Ways to set specific savings goals to stay on track with your short and long-term goals.
Assess your spending habits so you can figure out how much you can afford to save each month.
Compare between different types of savings accounts and see which one can best help you meet your needs.
Learn how interest rates work to help your savings could grow over time through investing.