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Singapore Fintech Association Launches New Marketplace Lending Committee

In response to the dynamic growth and future potential of the P2P lending space for both companies and retail investors, the Singapore Fintech Association (SFA) recently announced the creation of Marketplace Lending Committee. Kelvin Teo, CEO and co-founder of Funding Societies was appointed as Co-Chair of this newly-created committee.

P2P Lending: A Growing Sector

The alternative finance industry, or marketplace lending, has become increasingly popular regionally in recent times and has been growing at an impressive pace.

In 2016, Southeast Asia’s alternative finance market grew 363% from 2015 to a value of US$215.94 million, with marketplace business lending amounting to more than half of the market’s value. Further data showed that the market size of Singapore’s marketplace business lending grew almost 10x from US$9.43million in 2015 to $88.4million in 2016.

In 2016, MAS created regulations for securities-based crowdfunding. Funding Societies was one of the first to acquire a CMS license and has grown significantly to become the leading platform in Indonesia as well as Malaysia.

Singapore Fintech Association’s Marketplace Lending Committee

Marketplace Lending Committee aims to represent all marketplace lenders, nurture and build relationships, design and promote good practices, and play a part in ensuring that the industry remains a reliable and viable source of alternative financing for business owners.

The committee is made up of online lenders licensed by the Monetary Authority of Singapore of the Capital Market Service License.

The Marketplace Lending Committee’s initial tasks are to design and promote best practices, industry guidelines and codes of conduct in a collaborative and open manner. This is to encourage transparency between market participants.

Kelvin Teo, Co-Chair of Marketplace Lending, CEO of Funding Societies, stated:

“Working together, we believe this is the first step towards building a healthy and sustainable marketplace lending industry.”

To find out more about Marketplace Lending committee or the Singapore Fintech Association, please visit their website.

(Images Credit: Singapore Fintech Association)

4 Reasons To Consider Investing With Funding Societies

Peer-to-peer lending, or P2P lending, utilizes technology and big data to connect investors and small and medium-sized enterprises (SMEs) looking for business funding. To investors, it can function as an alternative investment that gives them an opportunity to earn passive income by financing business loans for SMEs.

In Southeast Asia, P2P lending has witnessed significant growth in recent years, led predominantly by Singapore. To date, around 60 platforms are currently operating in the online lending and crowdfunding space, which have become an increasingly popular alternative investment option.

If you’re wondering how you can take part in investing with P2P lending, Funding Societies would be a great place to explore. As of May 2018, Funding Societies has onboarded more than 70,000 investors across Singapore, Indonesia and Malaysia and provided more than S$160 million worth of investment opportunities in crowdfunded loans.

Here are four things you can expect when investing in P2P lending through Funding Societies.

# 1 Business loan products with short tenors

Funding Societies offers three investment products: Business Term Loan, Invoice Financing, and the newly launched Property-Backed Business Loan. Business Term Loan allows you to make investments by financing SME loans with tenors ranging from 1-12 months. In return, you will receive monthly repayments of principal and interests. You can maximize your returns by reinvesting your repayments to new loans.

Meanwhile, with Invoice Financing, SMEs would be able to cash out by pledging their invoices to Funding Societies. Invoice Financing has a shorter tenor, which generally lasts for only 30-120 days with a one-time repayment of principal and interest at the end of the tenor.

With Property-Backed Business Loan, investments are secured by a property (residential, industrial, or commercial). Different from the other products, Property-backed Business Loans offer security in the form of property as a collateral, and is a good option to add diversification to your investment portfolio.

# 2 Potential returns as high as 14% p.a.

As an investor, the returns you get from your P2P lending investments come in the form of interests paid by SMEs.

Given that P2P loans are generally more flexible in its tenor and SMEs that get financing from Funding Societies have shorter or imperfect operational track records, interest rates are determined accordingly based on risk, in the range of 8-14% p.a.. Higher risks typically come with higher returns, so investors should invest based on their appetite for risk.

# 3 Regular updates from the platform

Expect to get regular updates from Funding Societies as an investor on the platform! With every important event or update, the platform sends alerts via email or in-app notifications so that investors are constantly kept up to date with us.

For instance, whenever there is an upcoming loan for crowdfunding, investors will receive an email notification. In the event of late repayment or if there’s an update for specific loans, Funding Societies will also communicate in the quickest and most transparent way. So make sure you switch on your app notifications for any important alerts!

If you need any further clarifications, Miyu, Funding Societies’ very own chatbot, and our customer experience (CX) team will be happy to answer all of your questions via live chat. Or call us at 62210958 to have a quick chat with our team.

# 4 Well-designed User Interface

Funding Societies Website

Funding Societies Mobile App

Investors should be able to review their portfolios easily. That’s why Funding Societies’ website has recently been improved to provide details of your investment portfolio in a clear and concise manner.

In addition, since 80% of Funding Societies’ investors access our platform via their mobile phone, the company has created a Funding Societies mobile app to cater to all mobile users out there. As an investor, you can review your portfolio, change your auto-invest settings, crowdfund a loan, and even use the live chat feature — all in one app! It’s simple, convenient and efficient.

Funding Societies is also constantly taking feedback from investors and working on them to improve the whole experience for you.


About Funding Societies

Funding Societies is the leading digital P2P lending platform in Southeast Asia and is operating in Singapore under the Capital Markets Services license issued by the Monetary Authority of Singapore (MAS). Recently, it has raised a Series B round of funding, the largest by a P2P lending platform in Southeast Asia. Funding Societies is also the only P2P lender to have received the Fintech Award given by MAS.

Sign up as an investor with Funding Societies now!

Here Are The Reasons For FinTech’s Rapid Growth in Southeast Asia

After the financial technology (FinTech) industry’s start in the West, notably in Europe and in the USA, its innovations have established themselves across various markets. FinTech has also experienced adoption and high growth in China. But if we are searching for financial technology’s next hot region, it would be Southeast Asia.

Why is Southeast Asia poised for the rapid growth of FinTech? Right now, the region has favorable conditions that would spur adoption and expansion. Below are four of them.

The Population is Huge

Southeast Asia has an enormous population of 630 million people, 50% of them under the age of 30. Southeast Asia’s urban population is expected to expand to 373 million people by 2030. The young, urban demographic is generally digital-savvy, with many of them partial to convenient mobile solutions for financial services and personal finance tools – this makes the Southeast Asia region fertile ground for the entrance of FinTech.

Mobile Phone Connectivity

Mobile connectivity has been growing rapidly in the region, especially in Cambodia (173%), Thailand (133%), Vietnam (131%), and Myanmar (93%). Mobiles have become the most popular communication devices in Southeast Asia and every month, there are around 3.8 million more Southeast Asians connected to the Internet. In Thailand alone, a consumer spends an average of 4.4 hours per day on social media.

Financial technology, with its innovations of mobile-based money transfers, e-wallets, alternative financing, and other online-based finance tools, is likely to capture the digital savvy population of Southeast Asia. In fact, financial technology opens opportunities to those previously underserved, as FinTech services are often online-based, without having users enter a brick-and-mortar location.

The Opportunity to Serve a Large Unbanked Market

According to the World Bank, 2 billion people around the world don’t have access to formal financial services, with over 50% spread across Asia. While the statistic is not a pleasant one for the market, it opens opportunities for the FinTech industry to grow in Asia, including Southeast Asia. FinTech’s digital-based solutions can be one of the most cost-effective methods of delivering financial services to those previously unserved.

Consumption Rate is Increasing

In 2025, the middle class of Southeast Asia is predicted to increase to over 440 million people. This will lead to growth across most consumer sectors, especially for e-commerce. With easier access to online shopping, thanks to higher mobile penetration, better logistics, and improved infrastructure, FinTech companies can provide another piece to the infrastructure by providing inclusive financial services through e-commerce channels, while cross-border payments can harmonize regional payment flows.


These four factors will shape the face of FinTech in Southeast Asia, as well as ensure that the region is at the forefront of financial technology.

This article was written by Funding Societies, Singapore’s leading peer-to-peer (P2P) lending platform. We provide working capital loans for small and medium-sized enterprises (SMEs), along with attractive investment opportunities to the broader public. To learn more about us, click on our website here.

Introducing Property-Secured P2P Loans

For the newbies, debt crowdfunding is a concept where borrowers (usually SMEs) approach a crowdfunding platform for loans funded by a pool of investors. Investors earn interest, paid by borrowers, as returns on their investment. Investments are open to individuals as well as corporates with a minimum amount going down as low as $50 for smaller loan amounts.

Funding Societies, licensed and leading crowdfunding platform in Southeast Asia, backed by SoftBank Ventures Korea and Sequoia Capital, has recently introduced Property backed Secured Loans to its pool of more than 50,000 investors, providing them with more diversification opportunities. This is the third product Funding Societies has introduced since Business Term Loans and Invoice Financing.

What are Property backed Secured Loans?

Property backed Secured Loans are loans taken by companies who have pledged a local property as a form of collateral against the loan. These are local properties owned by the companies and/or Directors of the companies, and can be Residential, Commercial or Industrial. The loan amount is capped at 70% of the property value determined by independent valuers.

As an investor, you can start investing from $1,000 in this secured crowdfunding product.

Why should you be excited about this product?

It is secured by property as a collateral: Funding Societies (FS) takes the first charge on the property, i.e. In the event that the property needs to be liquidated to repay the loan, FS will have the first right to access the cash after it is auctioned. Given the 70% Loan to Property Value (LTV), there is enough buffer against fluctuations in market prices that result in properties being devalued.

It’s a short-term investment: The loans are typically up to 12 months’ tenor.

Fair returns for a lower-risk product: You can get up to 8% p.a. returns in your investment.

Additional Diversification: Existing crowdfunding investors now have a secured loan product to further diversify their portfolios. New investors who have not invested in crowdfunding can take this opportunity to start investing.

What happens if a borrower misses out on repayments

In the case of repayment by borrowers, FS will liaise with borrowers on behalf of investors for collections. If the loan reaches defaults (defined as 90 days past payment due date), Funding Societies will pursue legally to auction the collateralized property. Proceeds from the auction will be used to repay the investors and any excess will be returned to the owners of the property.

In the rare scenario where proceeds from the auction are insufficient to repay the loan, Personal Guarantors (usually Directors of the company) and the borrowing company will be liable for the outstanding due.

TL;DR (Too Long; Didn’t Read)

Given that there is collateral security in the form of a property, Property backed Secured Loans become more secured and typically lower risk compared to other crowdfunding investment products.

For those with a lower risk appetite but still want to potentially earn a return of up to 8%, the Property backed Secured Loans is a product for you to diversify your portfolio in.

Limited Time Promotion: Receive $20 Cashback!

From now till 15 June 2018, sign up as an investor and invest at least $1,000 to be eligible for the $20 cashback. That’s an upfront 2% cashback on your investment!

Here’s how to claim the cashback:

  1. Sign up for your new investor account on www.fundingsocieties.com.
  2. **IMPORTANT!** Enter MDMAY in the Promo Code section.
  3. Complete your registration and activate your account.
  4. Invest at least $1,000 before 15 June 2018. Investment can be in one loan or across multiple loans.

Eligible investors will be notified via email of their within one month from the end of the promotion.

How Startups And SMEs Can Use Fintech To Fuel Growth

The financial technology (FinTech) field grew and developed rapidly as a response to the financial problems we face, from making financial information more accessible to addressing the lack of financial inclusion in various countries. Small and medium-sized enterprises (SMEs), in particular, can benefit from the digital solutions offered by FinTech. For instance, FinTech offers e-payment and bookkeeping services that SMEscan take advantage of.

But most of all, FinTech can provide business financing solutions for SMEs. The growth of any small and medium-sized enterprises (SMEs) is dependent on the health of their finances, especially on having the appropriate funding. Certain business models within FinTech, such as peer-to-peer (P2P) lending, can be an alternative source for SME working capital loans.

FinTech as an online financing platform

To grow, SMEs need working capital. SMEs often choose to apply for loans to finance their business development. However, traditional financing products can have regulations, criteria, and processing time that are incompatible with SME needs. Often, requirements for collateral can stop a promising SMEs from getting the financing they need.

FinTech models such as peer-to-peer lending offers a solution: by building an online financing platform for SMEs. Since it is online, the application process tends to be faster and simpler. Certain P2P platforms also have apps and a small business owner can easily apply for financing through the app. The loan product also keeps SMEs in mind, with no required collateral.

FinTech as an accounting and bookkeeping service

Small businesses sometimes neglect the importance of accounting, even though it is crucial for any company to stay aware of their financial condition. Well-managed financial statements will help SMEs identify problems they are currently facing and how to bring the company to a better, more profitable place. Sometimes, small businesses simply lack the capital to hire an accountant.

These days, some FinTech platforms provide accounting technology to help manage SME financial statements. The platform also allows SMEs to have an easier invoice and payment process. Many of these accounting services are based on cloud servers so business owners can access their data anywhere, anytime.

If you do use cloud-based service providers, remember to implement the appropriate safeguards. Read more on “How to Protect Your SME from Cybercrime”

Fintech provides electronic and digital payments

FinTech digital payment solutions, such as online and mobile payment options, along with multination and multicurrency options will help businesses gain a simpler way to manage financial transactions. The electronic and digital payments solutions will especially help small businesses sell their products and services to a wider audience than if they were only dependent on cash.


Digital solutions and innovations pioneered by FinTech bring great impact for SMEs. By utilising FinTech innovations, SMEs will more easily adapt to the digital age and grow their operations.

3 Tips You Can Use For Expanding Your Professional Network

Ask any business owner and they will tell you how important it is to build a solid business network. A great business network is high-quality and consists of a group of people you can count on. Building such a network requires commitment and consistency. Not to mention, a balance between giving and taking, not simply exchanging business cards and contact information. Here are 3 tips for building a better business network:

Be Authentic

When introduced to new acquaintances and businesspeople, it’s recommended to be knowledgeable and up-to-date. But it’s more important to be yourself. Sure, we all want to present a more refined and polished version of ourselves to the world, but it’s another thing altogether to mislead acquaintances about your goals and values. Understandably, there are many people we would want to impress, but the best relationships (yes, business relationships too) happens when you start with a natural connection and common ground. Being authentic also enhances your reputation to others in your field.

Bad Behavior Is Never a Good Idea

We hear of several charismatic yet overbearing and unpleasant business leaders. We start to wonder if such traits are perfectly acceptable, or worse, integral to success. Please don’t try this.

Being a jerk while taking benefits from your relations and not giving back is detrimental at any stage, but especially so when you are in the process of building and growing your business. You will get an unsavory reputation and trust us, your network will pass on juicy anecdotes of nasty behavior to their relations.

Thank your acquaintances when they have provided you a favor. Be kind to them even when it looks like there is no visible payoff for doing so. Being trustworthy and dependable has business value.

Get More Personal

Want to know a particular person better? Ask them to hang out together. You’ll have the chance for a more personal discussion. Be open to different ideas. Be willing to have someone teach you business models you may be skeptical of. Share your experiences, points of views, and professional plans to see if this is someone you want to share a more lasting business relationship with. Also, see if this is someone you can trust.


Building a solid business network doesn’t stop at exchanging contact information. It’s what happens after that matters most. Be authentic, be professional and responsible, and establish quality relationships with talented people who trust and inspire.

Looking for more business tips? Click here for how to maximize business productivity and here for ideas on growing a small business.

Importance Of Creativity And Innovation For Startups And SMEs

It has become widely accepted that creativity and innovation are crucial to business success, especially in the ever-changing and uncertain world we live in today. While creativity is the ability to produce new and unique ideas, innovation is the execution of that creative ideas.

When properly fostered, creativity and innovation create inventive problem solving for your business or your audience. Think of technological innovations! They solve day-to-day problems and make life more convenient for all.

The same rule applies with business innovations. Creative and innovative problem solving can make your company run more efficiently. They can also make a name for your business and create the competitive edge all businesses strive to achieve.

The importance of creativity and innovation in SMEs

Without creativity and innovation, companies would be stuck in a rut. They would utilize the same marketing/promotion campaigns, business strategies, or maybe even sell uniform products and services. But once your business brain is able to think creatively, the possibilities are endless.

By being creative, your business is more likely to become innovative. And by being innovative, your business is more likely to offer something new, making you a step ahead of others in the industry. Encouraging business creativity pays internal dividends as well. Your company gets a variety of ideas for problem solving and staff becomes more engaged.

A UK study shows that employees are most productive when they are challenged by interesting work and allowed to implement their initiatives. Too many rules and procedures, on the other hand, stunt productivity. In other words, giving employees opportunities to innovate pushes business productivity and agility.

Empowering SME creativity and innovations sounds like a tall order, but innovation comes in many forms, not just cutting-edge technology and design. For many service-fed industries, this simply means meeting customer demands, going the extra mile, or approaching your market in a different way to competitors.

How can you implement creativity and innovation in your business?

For SMEs looking to encourage innovation from within, the answer is to not limit yourself to your organization. Collaborating, sharing knowledge, and broadening your network fill your business with fresh ideas and help improve your business’ growth prospect. Of course, take care to keep internal data private, but exposing yourself and your staff to external connections adds to your repertoire of knowledge and ideas to explore. Outside connections can also provide objective feedback to your ideas.

Internally, you can push creativity and innovation by intellectually challenging yourself and your team. It’s important that your team is sufficiently challenged. Too little of a challenge will cause boredom, but too much will cause stress. Find a healthy balance to help them sharpen their creative minds.


It’s very clear that creativity and innovation are advantageous for your business. Innovation provides a culture of creative thinking that enables you and your team to think outside the box and come up with new and interesting ideas.

This article was written by Funding Societies, Singapore’s leading peer-to-peer (P2P) lending platform. We provide working capital loans for small and medium-sized enterprises (SMEs), along with attractive investment opportunities to the broader public. To learn more about us, click on our website here.

Building a Business: Online or Offline?

When thinking of how best to build your business, a major consideration these days is whether to make it offline or online – especially, of course, if the business idea you have in mind is in the retail industry. Each option has its ups and downs, so you need to contemplate it very carefully.

In the digital era, it seems easier to build an online business because of the advanced technology (and of course, the promise of cheaper overhead costs). But that doesn’t mean brick and mortar shops have lost their merits.

For those of you who are about to build your very own business, here are some points to consider before deciding which type suits you best.

If You Want to Build a Brick and Mortar Shop

An offline store looks and feels credible. Whether or not customer behavior is rational, the presence of a physical location has the advantage of more readily gaining trust. People know that the business is physically present should there be any issues with its goods and services. Besides, who hasn’t heard of fraudulent online sellers? There are also certain products that customers would want to check directly before purchasing, such as cars and electronics.

However, when it comes to brick and mortar shops, keep in mind that you do need to spend a lot more money on its infrastructure and upkeep. You also need to spend money on manpower, such as a manager or supervisor and a few people as staff. In addition, you will need to take care of paperwork ranging from operating license to legal documentation so you can legally run your business.

If You Prefer Online Business

Today’s age offers many possibilities for online enterprises. Not only do they offer advantages for the customer, they also benefit owners.

As most would already know, online stores and digital businesses are relatively cheaper than offline businesses. You don’t need a physical location as everything can be handled through the Internet. Many overhead costs (rent, maintenance, utilities, total salary) can be cut by having your business move online. People can simply shop from anywhere in the world and wait a few days until their order arrives (that is, if the online business offers international shipping!).

However, online business relies on Internet connection and a functional platform (your business website or mobile app or social media page). If your company’s online medium slows down, has issues, or is frustrating to use, your business will suffer.

Moreover, online business has no set operational hours. Some people find this an advantage, as they can respond to customers anytime and anywhere. But bear in mind that in the digital age, everyone is impatient. Your social media page might be scrawled with complaints if your response is an hour late.


As you can see, whether you build an online business or an offline one, each has its pros and cons. What usually happens these days is to start with an online business. When your company has become more recognized and has started earning profit, you can plan its expansion to a physical location. In fact, many, if not most, successful businesses are a mix of online and offline. Good luck in your business endeavors!

This article was written by Funding Societies, Singapore’s leading peer-to-peer (P2P) lending platform. We provide working capital loans for small and medium-sized enterprises (SMEs), along with attractive investment opportunities to the broader public. To learn more about us, click on our website here.

How To Plan A New Business Or Side Hustle

All successful businesses start with great planning. Business plans can be a daunting challenge for some, because of the effort you have to put to craft one. As daunting as it seems, business plans are necessary as they provide the roadmap for where you want to take your company. In other words, a well thought-out business plan is a vital requirement for any entrepreneur or business seeking to increase chances of survival.

But how do you write a good business plan?

Figure out what needs to be there and what doesn’t

Start off with a basic outline that will make sense to investors or whoever it is you are offering your business plan to. Write about your understanding of the market, the unique selling propositions of your product or service, the business model, and data that proves there is demand for whatever you want to create. If possible, show that you have the team and resources to help you in this business journey. If you don’t, write down what resources and how much money you need to be able to reach your destination.

You can build off the above with more sophisticated aspects, such as:

  • Company Analysis
  • Industry Analysis
  • Competition Analysis
  • Customer Analysis
  • Marketing Plan
  • Management Team
  • Operations Plan
  • Financial Plan

Research, research, research

Now that you know what needs to be included in a business plan, you need to start doing your homework. Find and curate as many resources as possible, monitor your target market on a regular basis, and keep track of competitors’ new launch or strategy.

Investors reading your business plan will want to see that you’ve thought long and hard about the potential of starting or expanding your company, along with the challenges ahead and how to rise above them.

For entrepreneurs who intend to use their business plan to get an investment, you also need to research your potential investors. Understand the way they work, take a look at their portfolio, and see whether there are any similarities with your business.

Have proof to back up every claim you make

Want to know why research is so important for business planning? By conducting thorough due diligence, you will have proof to back up every claim you make.

Let’s say you claim in the business plan that your product will be the leader in your field by six months to a year. You will need to detail why you think so. If you say your management team is fully qualified to make the business a success, you should make sure their resumes demonstrate the needed experience.

Be realistic with available time and resources

What’s most important about a business plan? Whether or not the steps and content can be implemented. So more than being a document to win over investors, a good business plan needs to be doable.

Don’t be overly optimistic about time and resources, it’s a common error of entrepreneurs. Be realistic, as it will give credibility to your plan. Always assume things will take 15% longer than you anticipated. If you anticipate that a certain process takes 20 weeks, write 23 weeks instead.


The success of business planning is all in the details. Make the plan concise, but include enough details that a reader will have sufficient information to make educated decisions. A business plan should reflect a sense of professionalism, with accurate content, realistic assumptions, credible projections, and no spelling mistakes.

This article was written by Funding Societies, Singapore’s leading peer-to-peer (P2P) lending platform. We provide working capital loans for small and medium-sized enterprises (SMEs), along with attractive investment opportunities to the broader public. To learn more about us, click on our website here.

Saving In The Digital Era

We’ve all been there before: at first, we were just absentmindedly scrolling through our Instagram feed when we come across a beautifully made travel bag or trendy sneakers posted by a brand account. Next thing we know, we’ve placed our order and we’re ready to make a purchase.

Everything happened too fast! When the order arrives at our door, our satisfaction levels are high. But in mere days we realize we didn’t really need the product in the first place.

Temptation is everywhere in the digital era, and it’s becoming harder and harder to save money. With the rise of technology and social media, online shopping is just one easy click away. If you fall prey to too many ill-considered purchases, you will soon have bad financial habits.

So how do you save money in the social media era?

Set up automatic deposits into your saving accounts

Establish a budget, period. When you have an accurate view of your income and expenses, you can start improving your personal finances. Once you have set a budget and clear goals, get in the habit of saving money by automating the process. Set up regular and automatic deposits into your savings and investments accounts, either directly from your paycheck or from your checking account.

Get a money buddy

According to an MIT study, friends with similar traits can pick up good habits from each other. Financial planners also recommend having someone to hold you accountable for the task at hand to increase effectiveness and deliver stronger results.

Consider using the concept to save more money. You don’t need a finance whiz, you can find a partner in a friend, a parent, a sibling, or your own spouse. Set an achievable savings goal and ask your money buddy to monitor your progress and keep you on track.

Solo shopping

When it comes to shopping, it’s fun to shop with company. For the sake of personal finance, however, it’s better to shop alone. In a fun and relaxed mood, your friends might encourage you to buy more things than you intended. Obviously, it’s not healthy for your financial condition.

If you still want some company, ask your money buddy to accompany you. They are monitoring your personal finance progress, after all – chances are they won’t suggest shopping as a way to have fun in the first place.

When you get a raise, raise your savings too

Everyone says they would save more when they have more. But do people actually do it? When we get a raise, usually the first thing we do is buy something expensive to celebrate the occasion. Maybe a handbag, or plane tickets to a dream destination.

Celebratory spending is fine. Some self-reward is healthy. But remember to increase your automatic monthly transfer to savings as well. It might be painful now, but you will reach your personal finance goals faster if you allot more money to your savings and investments from a younger age.


Ultimately, saving enough money comes down to willpower and contentment. Do you have enough willpower to save? Are you okay with not having more right now? If you can develop both these qualities, you will grow wealthy over time.