You’ve heard it a hundred times: “Saving is important.”
Yet, no matter how hard you try, your bank balance never seems to grow. Month after month, your salary hits your account and vanishes just as fast. Sound familiar?
I was exactly like you. For years, I believed saving was something other people did. People with higher salaries, fewer bills, or “better discipline.” But the truth? My problem wasn’t my income. It was my mindset.
Saving didn’t make me rich overnight, but it did change everything. Here’s what I learned, in plain words, from someone who’s been in the same boat.
Saving Isn’t for Spending (Yes, Really)
Most of us save with a hidden agenda: “I’ll save so I can spend later.”
Maybe it’s for that Bali trip, a new phone, or a kitchen renovation. And that’s fine if your goal is short-term.
But here’s the trap. The moment you treat savings as “future spending money,” it stops being a safety net and becomes just another budget line. I used to do this. I’d save $1,000, then something “urgent” would pop up, a broken laptop, a sudden bill and poof, my savings were gone.
Worse, I’d think: “If I’m just going to spend it later anyway… why not enjoy it now?” That mindset kept me stuck in a cycle of zero savings for years.
The shift came when I stopped seeing savings as delayed gratification and started seeing it as freedom.
What Happened After I Started Saving (For Real)
1. My Money Started Working for Me
When you live paycheck to paycheck, every hour you work earns money for someone else, your employer, your landlord, your credit card company.
But once I consistently saved even small amounts, say, $100 a month, I began to see something magical: my money could earn money.
I opened a high-interest savings account with a digital bank in Singapore (no debit card, no easy access, just pure savings). The first time I saw $0.01 credited as daily interest, it felt silly. But over time, those cents added up. And more importantly, they motivated me.
Why? Because I was finally seeing passive returns. Not from luck or overtime, but from consistency.
2. I Gained the Freedom to Invest, On My Terms
A few years ago, when gold prices dipped or Bitcoin made headlines, I couldn’t act. Why? No cash on hand.
But with a growing savings buffer, I could finally invest when I believed the timing was right, not when my next paycheck arrived.
Just recently, when gold hit a relative low, I used a portion of my savings to buy into a low-risk precious metals through a local trusted gold platform. No panic. No debt. Just calm, researched action.
That’s the power of savings. It turns you from a spectator into a participant in your financial future.
Important note: Investing always carries risk. Never invest money you can’t afford to lose, and always do your research or speak to a licensed adviser. But without savings, you don’t even get a seat at the table.
3. I Broke Free from the “Earn, Spend, Repeat” Cycle
Before saving, my life followed a simple script:
Get paid, pay bills, buy what’s left, repeat.
Now? I earn, I save first (yes, before spending), and then I live on what’s left. It flipped my entire financial psychology.
And that buffer, just 3 to 6 months’ worth of expenses, has given me peace of mind no luxury purchase ever could. When my aircon broke last month, I didn’t panic. I didn’t borrow. I just paid for it from savings.
How I Actually Started Saving (Without Feeling Deprived)
You don’t need a huge salary. I started with just $100 a month.
Here’s my simple system, tested in Singapore’s cost-of-living reality:
- Open a “no-access” savings account
Choose a digital bank (like UOB One, OCBC 360, or a MAS-regulated neobank) that pays daily or monthly interest. Crucially, don’t link a debit card. Make it slightly inconvenient to withdraw. Out of sight, out of mind. - Pay yourself first
Set up an auto-transfer the day after salary hits. Even $50 counts. Treat it like a non-negotiable bill. (After the initial auto-transfer and deducting that month’s expenses, I will transfer the balance into the savings account.) - Watch it grow, literally
Seeing daily interest (even $0.02) builds momentum. I found myself wanting to “feed” the account more, just to see the interest climb. - Reinvest the returns
Once I had a few thousand saved, I moved a portion into a low-risk investment portfolio offered by the same bank. First month return? $1.15. I reinvested it automatically. Now, I get a free meal every month. - Keep an emergency slice liquid
Not all savings should be locked away. I always keep 3 to 6 months’ expenses in an easily accessible account, just in case.
Your “Why” Matters More Than the Amount
Some save for travel. Others for early retirement. Some just want to sleep better at night knowing they’re prepared for a job loss.
Whatever your reason, honour it.
There’s no “right” motivation. The only wrong move is not starting at all.
And remember: saving isn’t the end goal, it’s the foundation. You won’t get rich from a 2% interest account. But without savings, you’ll never have the fuel to invest, build assets, or create real wealth.
Final Thought
I’m not a finance guru. I’m a regular Singaporean who used to swipe his card without checking the balance. What changed? I stopped waiting to “earn more” and started valuing what I already had.
Start small. Stay consistent. Let your money work while you live your life.
Because the richest people aren’t those who earn the most, they’re the ones who keep what they earn.
And it all begins with one decision: to save first, always, and without apology.
Ready to take control? Open a high-yield savings account today. Even $10 is a start. Your future self will thank you.