Part 1 is about my spending habits in my younger days...ahem, although not so long ago. I know it's difficult to save with my spending habits. Putting money in savings accounts does not work and it ended up as a 'transit' account. Money comes money goes. In order to avoid myself from withdrawing money from the bank accounts, I opened another savings account without the ATM card and also deposited my money into fixed deposits. It worked quite well until now.
Apart from that, I also forced myself to save by buying insurance plan. There are many plans out there, but I chose the investment link plan so that I get medical coverage and savings at the same time. Although my company provides insurance package for employees, I still wanted to get one for myself because I might leave the company one day and left without any coverage. It's risky knowing that medical fees are very high nowadays. Furthermore, you pay lower insurance premiums when you start young and the savings generated will be higher. Hubby and Ethan also got their own insurance plan. My latest attempt in savings is Unit Trust. I read quite a lot of comments about it and also asked friends and colleagues on their own experience investing in Unit Trust, before deciding to venture into it. I hope all these will give us a more secured future.
No matter what investment plans are available out there, there are always pros and cons that come with it. So, I think it's best not to put all eggs in one basket.
