Hey, Spare Cash. We need to talk. Spare Cash survey Singapore 2026

We've always known spare cash is easily forgotten , so we put our money where our mouth is and commissioned a survey asking 1,000 Singaporeans about their spare cash. And guess what… nearly nine in ten (89%) have some spare cash. And most of them aren't convinced it's doing much. Three in four Singaporeans with spare cash don't think most of it is working as hard as it could.

Here's what we found, and what might help.

We check our cashback. Our spare cash, not so much.

Singaporeans are savvy about money going out. In the past six months, nearly half of people with spare cash (48%) checked their cashback or reward points. 42% checked their CPF balance, and 41% hunted for vouchers or promo codes.

Only 37% checked what their spare cash was earning.

It makes sense when you think about it. Cashback shows up right away, at the checkout or in your app: instant gratification. What your spare cash earns, happens quietly in the background, so it's easy to forget about.

That's how a few dollars off a purchase can get more of our attention than a much bigger pile of money we've already saved. It's not that we don't care about money. Our attention just tends to go elsewhere.

Quick question: what does your bank pay you?

If you're not sure, you're not alone. Our survey showed us that only one in ten people (11%) are very confident they know the interest rate their bank accounts pay. That leaves 89% who aren't fully sure.

Part of the reason is that most of us have more than one place to put our money. On average, Singaporeans use 3.7 banks and financial platforms, from traditional and digital banks to cash management and investment apps.

That's not a bad thing. Having one account for spending, another for savings and another for the longer term can make a lot of sense. It just works better when you know what each one is earning, and what it's there to do.

Spare cash, meet "one day, eventually"

Here's the bigger issue. For most people, spare cash doesn't have a plan.

72% of people with spare cash either think of it as money for "one day, eventually" or don't think about when they'll use it at all. And only 29% separate all their money into clear categories for different purposes.

Without a plan, spare cash tends to blur into one big pot. An emergency fund, next year's holiday and a deposit for a BTO or home all end up in the same place, treated the same way. But they have very different jobs. Money you might need tomorrow needs to be easy to reach. Money you won't touch for three years has time to grow. But it all still needs to be growing.

Give your spare cash a job

The good news: giving money a purpose seems to change how people treat it. When we asked what would happen if people could separate their spare cash into categories for specific goals, 59% said they'd be more likely to leave it untouched and let it grow.

That's exactly why we built Jars, available in your Chocolate app now. Jars let you split your spare cash into separate pots, each with its own name, goal and job. An emergency fund. A trip to Tokyo. A deposit for your first home. Instead of one big pot, every dollar knows what it's for.

"What really stands out is that Singaporeans are already putting money aside, but many don't have a clear plan for what that money is for. And when people give their spare cash a purpose, they're more likely to leave it alone and let it grow. That's a really important insight, and exactly why we've launched Jars."

Walter de Oude, Founder and CEO, Chocolate Finance

Three questions to ask your spare cash

You don't need to overhaul your finances. Start with three quick checks:

1. Do I know what it's earning? Look up the current rate on each account where you keep spare cash: the actual rate, not just the rate you signed up for.
2. Do I know where it all is? List every bank and app you hold money with, and roughly how much sits in each.
3. Does it have a job? Decide what each part is for and when you might need it. Money for emergencies needs different things from money for a holiday in three years.

Saving is the first step. The next question isn't "how much have I saved?" It's "is this money doing the job I need it to do?"

About the research

The online survey was conducted by independent research company Milieu from 25 September to 5 October 2026 among 1,000 Singapore residents aged 18 and above. Results carry a margin of error of +/- 3% at a 95% confidence level. Figures on cashback, rates, plans and goals are based on the 89% of respondents who hold spare cash (n=890). The 29% figure is based on all respondents, and the confidence figure on respondents with a bank account (n=994).

Disclaimer

Chocolate Finance is a brand of Chocfin Pte Ltd and is regulated by the Monetary Authority of Singapore. The views and opinions expressed on this post are solely those of the original authors and contributors as of the date of this post and are subject to change based on market and other conditions. This is for information only and does not constitute an offer or solicitation to buy or sell any of the investments mentioned. Neither Chocfin Pte. Ltd. ("Chocfin") nor any officer or employee of Chocfin accepts any liability whatsoever for any loss arising from any use of this blog or its contents.

Please note that Chocfin does not guarantee the accuracy, relevance, timeliness, or completeness of the information provided on this post. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Chocolate's returns are currently supported by a promotional 'Top-Up Programme', valid during the Qualifying Period and subject to terms and conditions. Past performance is not indicative of future results. All investments involve risk, including the risk of losing all of the invested amount and may not be suitable for everyone. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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