Wednesday, February 5, 2014

2SGD Mini Bank Project

ABBEY: We had our coin project in the year 2012 and the total amount of savings is 500sgd. The downside is each dollar coin has a deposit fee. This resulted to an almost 25-dollar-reduction on our earnings. We learned our lesson and come year 2013, we start saving 2-dollar bills. Twice the amount on the previous year and no fees. 

The savings surpassed the dollar coins but only a small percentage. We got 650sgd and invested it for the second phase of our "40 by 40" project. This year we continue saving those violet-colored treasures and expecting to surpassed the first 2 years.

WILL: Some people have other options to save a money for different purposes. Abbey and I save for additional sum for our investments. Last year we agreed to put a $1 coin on our Malteser's bank but we were deducted few dollars when we deposited it in our Citibank account. Lessons learned so we say hello to $2 bill. 

After receiving my boss ang pao from our Dinner and Dance party, a day after we open up our mini bank. We surpassed the previous amount. Then we both decided to send it to Philippines in addition to our "40 by 40" project. ;) 

Indeed this is a great way to save and invest. Oh, maybe you can do what my niece doing. She put a note wherein she can see always the purpose why she is saving up. 

Go and save. It is fun.