Advice on saving up for the future

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Aurora

New member
Hello guys! Just wanted to ask how many of you actually started up joint accounts with your SO when you guys were in the relationship? I'm not sure if SO & I should start one yet, as we only think about settling down within 4-5 year's time. & we're unsure of which bank we should start with :\
 
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vynara

New member
My and my now husband only opened a joint account after we got married. Our first deposit was the money we receive from friends and relatives. After we moved in together, we worked out what to put into this joint account as savings.

I highly recommend you consider opening a joint account only after marriage. Me and my husband had quite a lot of problems arising from it... I guess talking about money really hurts a relationship.

We opened a POSB one as it is the most easily accessible bank.
 
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bigdreamer

New member
it's not really advisable to have a joint bank account when you are not yet married, i mean there's no assurance and all.. what if you break up with him for some reasons and the relationship can't be fixed anymore.. in that case, you will have greater problems regarding the shared money.
 
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cinnamonpie

New member
i think if both of you are serious with your relationship,you can have a joint account while you're still in a bf/gf status. but, i also think that it will be best if you do it when youre already married.. haha.. anyway, there are lots of ways to save up.. such as identifying what your short-term and long-term goals are, clearing your debts, figuring out how much you will save in a week/month, etc.
 
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Enigma1612

New member
Its a good idea to have joint account but perhaps joint signature for withdrawal. For wedding prep can plan expenses to issue payment from this account
 
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Aurora

New member
thanks babes for your replies. i do find it risky but there's risk involved in everything, including buying a flat. I think my SO wont mind if I kept the card to the joint account. shall wait till our 3rd year anni in 3 mth's time before deciding on whether we really want to get a joint account or not :)
 
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peony

New member
oh yah that's good to know.. give yourselves more time to decide. after all, managing money is a challenging thing to do, whether it's your personal account or a joint one with somebody else. it involves risk, as what you've said. whatever your thoughts on saving may be, always make a wise decision. :)
 
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xhenrietta

New member
Aurora said:
Hello guys! Just wanted to ask how many of you actually started up joint accounts with your SO when you guys were in the relationship? I'm not sure if SO & I should start one yet, as we only think about settling down within 4-5 year's time. & we're unsure of which bank we should start with :\
Click to expand...

Hi, htb and I opened a joint account on the day we went for our "flat selection". Both of us are very excited,and when the exec knew we are getting flat he congrats us! I was smiling inside out. LOLx.. We got an OCBC account without a bankcard. I'm in-charge of keeping an eye on it. Making sure every month a fixed amount is deposited into this account. We also deposit our bonus & CNY angbao

Both of us have the same goal, so it's easier to make things done.
 
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mochagirl

New member
When we planned to get married, we already opened a joined account to help us save up for the house and for our family's future.
 
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Melvin1206

New member
I worked out a savings plan with my btb and discuss with her how much we should save in order to pay off the flat as soon as possible. Then we go open joint account.
 
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