Household savings hit five-year high in 2020
S'poreans built up emergency funds, had fewer chances to spend amid pandemic; habit expected to continue
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Personal savings of Singapore households hit a five-year high during the Covid-19 pandemic in 2020, as Singaporeans built up emergency funds to tide themselves over the crisis.
While the saved amount declined last year, the habit of saving should continue beyond the end of the pandemic, especially with rising inflation, experts said.
