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Stay ahead of inflation: Strategies to help protect and grow your money

The Straits Times LogoThe Straits Times6h ago

Stay ahead of inflation: Strategies to help protect and grow your money - The Straits Times

Quick Summary:

Nearly 1 in 4 Singapore residents say they set aside less money for savings, investments and insurance to cope with inflation.

But that was before inflation began to bite.“I wasn’t tracking my spending, but I started noticing that I had less money in my bank account at the end of each month last year.“It made me uncomfortable,” says the communications executive, who is single and lives with his family in a four-room Housing Board flat.

The same study found that nearly 1 in 4 (23 per cent) say they set aside less money for savings, investments and insurance instead.“Without adequate savings, consumers may need to rely on high-interest rate loans or credit to cover medical emergencies or job loss,” says Mr Abel Lim, head of wealth management advisory and strategy at UOB.

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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 04:00:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1370 words

Reading Time: 8 minutes read

Sentences: 72 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22986103

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About The Straits Times

The Straits Times Logo

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 16 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

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The story "Stay ahead of inflation: Strategies to help protect and grow your money" was covered 6 hours ago by The Straits Times, a news publisher based in Singapore.

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The outlet is headquartered in Singapore and publishes an average of 16 news stories per day.

It's most recent story was published 1 hours ago.

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  • URL: https://beamstart.com/news/stay-ahead-of-inflation-strategies-17285958421541

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