Hi All,
My partner and I are saving for a house deposit, we target to save a minimum of 10k a month between us, with a combined income of around 16k a month after tax. Putting money into a bank has never been my favourite idea for growing money, obviously I want to have as much of a deposit as I can, we will need between 20 - 30% which works out to be between 200-300k which is achieveable with the savings we already have.
If we're putting this much money in savings a month, what are some of the best options for growing it? Should we use a single, combined account for better interest rather than having the savings evenly split between us? When we have a certain amount of cash in an account should we put it into shares ect? Keeping in mind that the money will be used for a deposit, ideally, as soon as we possibly can, but realistically in approximately 18-24 months.
Legally I can't get a second job here otherwise I would look at some consulting work to add more to savings.
Based in Singapore if thats at all significant.
Submitted August 12, 2018 at 10:45PM by Stegles https://ift.tt/2nwQyGH
