Joint Savings Account

Registered for our joint savings account today! Purpose of this account is for the payment of our house bills, like utilities, home broadband, groceries, furniture etc. It would also be used as a saving account for our children education next time too.

Why open a joint savings account? To avoid problems like "why are you buying so many shoes instead of saving for our kids?" and "why are you spending so much on beers and games and not putting aside for our renovations?" Simply put, both of us would contribute a percentage of our salaries to our joint account, and the rest is for ourselves to splurge without guilt. Bwahaha!

We registered with UOB for the One Account, mainly because the One Card has great cashback programme, and together, the One Account actually have decent interest rates, since we will be spending significantly for the house, more so for now with all the installment payments for our furniture and electronics. A 12 month installment for all our electronics would guarantee us meeting the requirement for cashback for 4 cycles, without any other spending. Talk about savings!